Goldstar Minerals begins diamond-drilling on its Lake George Property in New Brunswick, Canada
TSX VENTURE: GDM
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MONTRÉAL, June 06, 2018 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Company”) (TSX-V:GDM) is pleased to announce that its second phase diamond drill program began with the mobilization of equipment and personnel on June 4, 2018. Goldstar is focused on developing deposits for gold as well as for technology metals, such as tungsten and tin, in leading mining jurisdictions in Canada.
The Company has awarded the drilling contract to Orbit Garant from Dieppe, New Brunswick. The objective is to drill a minimum of 2,500 metres, consisting of at least 10 to 12 holes. Goldstar is currently completing the wood cutting for drilling access and site preparation. Following this preparation, the contractor will begin drilling and the Company expects to receive its first core very shortly.
The Company expects to release its first drilling results in August 2018.
Benoit Moreau, President and CEO of Goldstar comments: “The Company is very pleased to finally start this important drilling program after acquiring new geophysical data and completing detailed prospecting as well as trenching. Detailed field work and recent data acquisition have yielded very important new information, allowing the determination of promising targets for gold in the Coyote Fault and the Waterloo Lake Fault Zones. New areas that have never been tested in the past will be targeted, including the large gravity anomaly that was recently outlined. Goldstar has also put up a strong and experienced geological team to oversee all aspects of this drilling program in order to optimize results for all our shareholders.”
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., CEO and director of the company. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For more information, please contact:
President and CEO
Vice-President of Corporate Development
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This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.