VANCOUVER, BC / ACCESSWIRE / June 24, 2015 / Redstar Gold Corp. (TSX.V:RGC) ("Redstar" or the "Company") announces assay results for the third and fourth core holes from its recently completed eight-hole drilling program on the Shumagin Prospect, located on Redstar's 100% owned Unga Gold Project, Alaska. Results from the first two holes were released on June 11th, 2015.
Highlights:
- High-grade gold/silver mineralization has been encountered in drill hole 15SH013 for 4.0 metres grading 11.62 g/t gold and 95.6 g/t silver, including 1.0 metre grading 20.9 g/t gold and 232 g/t silver and 1.0 metre grading 17.45 g/t gold and 122 g/t silver.
- Drill hole 15SH014 intercepted 3.0 metres grading 9.86 g/t gold and 8.0 g/t silver, including 1.0 metre grading 19.9 g/t gold and 16.0 g/t silver.
- High grade gold and silver mineralization has now been intersected in each of the first four drill holes
High Grade Intervals from Drill holes 15SH013 and 15SH014
Drill Hole ID | From-To (metres) | Core length* (metres) | Gold (g/t) | Silver (g/t) |
15SH013 | 143-147 | 4.0 | 11.62 | 95.6 |
Incl. | 144-145 | 1.0 | 17.45 | 122.0 |
Incl. | 146-147 | 1.0 | 20.90 | 232.0 |
and | 153-154 | 1.0 | 4.67** | 1.9 |
15SH014 | 185-188 | 3.0 | 9.86 | 8.0 |
Incl. | 187-188 | 1.0 | 19.9 | 16.0 |
*True widths of the mineralized intervals are close to 70-80% of Core length
**Visible gold @ 153.2m
"The success of the infill drill holes corroborates and greatly enhances our understanding of the high-grade mineralization reported by previous operators. This indicates to the Company that the mineralization within the historically reported resource area now has a high possibility of becoming a coherent, continuous zone of high-grade mineralization with great potential for expansion. We look forward to seeing the results of the final four holes in the program that targeted areas outside of known mineralization." said Jacques Vaillancourt, Executive Chairman.
The infill drill holes targeted mineralization at various structural elevations across a portion of gold/silver "envelopes" previously incorporated into a non-43-101 compliant resource estimation. Overall the precious metal-bearing Shumagin vein system has a strike extent of over 1.2 kilometres and a depth extent of approximately 330 metres as outlined by drilling and surface trenching.
The Shumagin Prospect is one of several noteworthy gold-silver structures found on Redstar's Unga Project and is a high-priority exploration target that remains open at depth and along strike. Results are pending for the remaining four expansion drill holes.
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Oblique Aerial View showing exposures of the Shumagin vein system highlighted in red
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Plan map of the Shumagin Prospect showing locations of 2015 drill holes & cross section lines
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Cross Section A-A': Infill Holes 15SH011 & 15SH012 and Adjacent Historic High-Grade Intercepts
Operational Strategy
In conjunction with the drill data resulting from this drill program, a Phase-2 drill program planned for later during 2015 will maintain a focus on the Shumagin Prospect concurrent with exploration of other known high-grade gold targets located within the Unga Gold Project.
A major goal of future drill campaigns will be to continue with additional step-out drilling towards the northeast for an additional 350 metres where exposures of the Shumagin vein system returned high-grade intercepts at shallow depths from drilling during the 1980's (DDH26: 37.7g/t gold & 20.6g/t silver over 0.76m and 11.48g/t gold & 15.1g/t silver over 1.21m).
Quality Assurance/Quality Control
The 2015 exploration program at the Unga Project included a rigorous Quality Control/Quality Assurance program, overseen by Jesse C. Grady, Redstar's Vice President of Exploration.
Drill core selected for geochemical analysis was sawn in half, with one-half of the core shipped in a sealed bag to ALS Minerals in Fairbanks for sample preparation. Laboratory pulps were analysed at ALS Minerals in Vancouver where gold was assayed using a 50g fire assay and AAS finish. Gold values in excess of 10 ppm were then re-assayed by 50g fire assay with a gravimetric finish. Samples that contained silver values in excess of 100 ppm were analysed using a HF-HNO3 -HClO4 digestion with an HCL leach and either an ICP-AES or AAS finish.
Redstar's QA/QC protocol consisted of semi-random insertion of calibration standards for gold and blanks at a rate of 3 per 30 samples. Additional blank samples were inserted after any visible gold or after high-grade standards. Two calibration standards and a single lab duplicate was selected on a random basis for each sample shipment and employed in consecutive order within the sample stream.
Jesse C. Grady, MSc, CPG-11592, is a Qualified Person as defined by NI 43-101. Mr. Grady has prepared and approved the technical information contained within this release.
The Unga Gold Project
The Unga Gold Project covers portions of adjacent Unga and Popof Islands, approximately 900 kilometres (550 miles) southwest of Anchorage, Alaska. The project is located near the town of Sand Point which has a commercial airport and port facilities. Access to Unga Island is by boat or helicopter, some 13 kilometres from Sand Point. The topography on the island is mostly undulating hills and the climate quite temperate relative to many areas of Alaska.
For the first time, the Unga Project is now a fully consolidated land package of some 250 sq km (100 sq miles) of mineral rights through an agreement with the Aleut Corp, an Alaskan Native Corporation and a surface land use agreement on Unga Island with the Unga Corporation. Mining claims owned by the Company consists of 16 patented mining claims ("Apollo-Sitka Mine") and six State of Alaska mining claims ("Shumagin Prospect").
About Redstar Gold Corp
Redstar is a junior exploration company focused on high-grade gold exploration in North America. In Alaska, the Company is exploring the 100% owned high-grade Unga Gold Project which was initially acquired in 2011. The Unga Gold Project contains several high grade gold/silver vein systems, two of which, Apollo & Sitka were sites of historic high-grade gold production.
Redstar also owns 30% of the Newman Todd Gold project, in Red Lake, Ontario, Canada and 100% of 10 properties in Nevada. Newman Todd is a high-grade gold discovery along a 1.8 km corridor within the Newman Todd Structure (NTS). The gold mineralization in the NTS remains open along strike and at depth.
Redstar Gold Corporation (RGC: TSX.V)
Ken Booth, President and CEO
Tel.: +604.488.0051
Email: info@redstargold.com
SUITE 615 800 WEST PENDER STREET VANCOUVER, BC Toll Free: 1-877-310-3330 | CORPORATE INQUIRIES Redstar Gold Corp. Paul Durham, Investor Relations Tel: 203.940.2538 Toll Free: 1-877-310-3330 |
Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corporation (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Redstar Gold Corp.
