Vancouver BC (FSCwire) - Redstar Gold Corp. (TSX.V: RGC, OTCQB: RGCTF, FRA: RGG) ("Redstar" or the "Company") has been requested by the Investment Industry Regulatory Organization of Canada (IIROC) to comment on the recent increase in the trading volume and price of the Company's common shares on the TSX Venture Exchange. The Company is not aware of any material change in its business or affairs that has not been publicly disclosed that would account for the recent increase in volume or price.
The Company commenced its 2017 Spring Exploration Program in April 2017, and initiated its diamond drilling program at the Shumagin Gold Zone, within the Unga Gold Project, in May 2017. The 2017 Spring Drill Program, initially totaling up to 5,000m, has commenced on the geophysical anomalies along strike to the southwest of the known Shumagin Gold Zone, with a main goal to initially trace the occurrence quartz-adularia-carbonate breccias along strike of the Shumagin Fault and the footwall splay along approximate 100m centers. Concurrent with drilling, detailed prospecting and soils sample grids will cover the entire footwall basalt/andesite within the areas of the Northern footwall anomalies to locate geochemically anomalous areas along the structures that can be drill tested later during the summer.
About Redstar Gold Corp
Redstar is well-financed junior exploration company, with a very strong, supportive institutional shareholder base, no debt, and is focused on high-grade gold exploration and advancing its high-grade Unga Gold Project in Alaska. The 100% controlled Unga Gold Project is an intermediate sulfidation epithermal high-grade gold project on a district scale, with the property encompassing approximately 240 km2, and containing multiple high grade gold zones drilled or identified at surface. The former Apollo-Sitka gold mine, located on the southern Apollo-Sitka Trend, was Alaska’s first underground gold mine and the site of historic high-grade (~10 g/t Au) gold production. The Unga Gold Project has extensive infrastructure with daily flights from Anchorage landing on a one mile long paved airstrip and a deep-water port on neighboring Popof Island, and a moderate climate noting it resides at the 55th degree latitude and next to tidewater. In addition, Redstar owns approximately 22.2% of NV Gold Corp. (TSXV: NVX). Redstar also owns 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada.
