Goldstar Minerals initiates permitting and prepares for diamond-drilling on its Lake George Property in New Brunswick, Canada
TSX VENTURE: GDM
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MONTREAL, May 28, 2019 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Corporation”) (TSX-V: GDM) is pleased to announce that the permitting process is now underway. Among other things, the Corporation will soon consult all private landowners that may be involved with the upcoming drilling program on its Lake George Property, located in New Brunswick, Canada.
Goldstar expects to begin its third phase diamond drill program once permitting is completed, focusing its efforts on 5 magnetic anomalies that may represent the surface expression of buried granodiorite intrusions.
These are key targets for establishing that an Intrusion-Related Gold System (IRGS) is present at Lake George as evidenced by numerous samples that returned gold values nearby. These IRGS targets are associated to large kilometric scale systems with open-pit potential.
The Corporation plans a 2,500 metre drilling program that would consist of approximately 10 holes.
Upon completing the permitting, Goldstar will be preparing drilling sites using existing lumber and old drill roads to minimize environmental impact and required tree cutting. Goldstar will also select the drilling contractor for its 2,500 metre drilling campaign.
Benoit Moreau, President and CEO of the Corporation comments: “Goldstar is pleased that the permitting process has now started, which constitutes the last remaining step before diamond drilling can actually proceed. Our geological team will soon be gearing up for detailed logistics in preparation for the drilling campaign.”
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., CEO and director of the Corporation. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For further information, please contact:
President and Chief Executive Officer
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.