Goldstar discovers Tin for the first time at Lake George Property in New Brunswick, Canada
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MONTRÉAL, Jan. 17, 2018 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Company”) (TSX-V:GDM) is pleased to announce that it has received additional results from detailed prospecting completed last November at its Lake George Property, located in New Brunswick, Canada.
The prospecting was following up a regional geochemical antimony soil anomaly and a relative magnetic high outlined by the previous airborne survey done in May 2016, both located southwest of hole LG-16-01.
An outcrop sample consisting of a weakly altered metasediments, containing approximately 25% of centimetric rusty quartz veins returned 0.6% tin (Sn). To the knowledge of the Company, it is the first time that anomalous tin is reported at Lake George. Several other outcrops present nearby and of a similar nature were also sampled and will be assayed for tin in the next few weeks.
This new tin area is believed to be associated with a different geological environment from where prospecting has identified gold bearing outcrops. The tin bearing context possibly relates to late stage felsic intrusions and is several hundred metres to the south west of the gold bearing outcrops previously identified.
Assays were performed at AGAT Laboratories located in Mississauga, Ontario using peroxide fusion and ICP finish. This is a grab sample that is not necessarily representative of the mineralization hosted on the property. Four (4) standards were inserted every 100 samples for QC/QA procedures. No duplicates or blanks were inserted.
Next steps
Geosig from Quebec City, Quebec was commissioned to perform a detailed ground gravity survey that will encompass all the areas on the property where gold was discovered in 2016 and 2017. Mobilization is under way and Goldstar expects to receive these new data shortly.
The exploration team will then prepare and design the drilling program set to begin in March 2018 that will investigate the newly defined gold zones, namely the WLF and the Coyote gold zones. Access for drilling is excellent all year long and easy logistics are expected.
Benoit Moreau, President and CEO of Goldstar comments: “This tin discovery is exciting and requires some serious following-up next summer. However, as we have already identified significant gold bearing zones including the WLF zone with 100 m by 25 m at surface grading an average of 1.0 g/t Au, our efforts remain focused on gold. We are looking forward to the upcoming 2018 drilling program which will be devoted to understanding how gold zones outlined in 2016 and 2017 can be expanded vertically and laterally.”
Disclosure
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:
Benoit Moreau
President and Chief Executive Officer
514-591-8058
bmoreau@goldstarminerals.com
François Perron
Director
416-312-4811
fperron@goldstarminerals.com
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.
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.
