Canstar Resources Announces Appointment of Kerry Sparkes to Advisory Board and Provides Update on Phase I Drilling
Toronto, January 16, 2019 - Canstar Resources Inc. (TSXV: ROX) (OTCQB:CSRNF) ("Canstar" or "the Company") is pleased to announce the appointment of Kerry Sparkes, M.Sc., P. Geo, to the Company's Advisory Board.
Mr. Sparkes currently holds the role of Vice President-Geology for Franco-Nevada Corp. and was previously Vice President-Exploration at Rainy River Resources Ltd., Vice President-Exploration at Messina Minerals Inc., Senior Geologist at Voisey's Bay Nickel Co. Ltd., Exploration Manager of Archean Resources Ltd., as well as President at Sparkes Consulting, Inc.
Mr. Sparkes currently sits on the Board of Directors of Sphinx Resources Ltd., and previously served on the board of Knight Metals Ltd., as well as Orla Mining Ltd.
Mr. Sparkes received his undergraduate and graduate degrees from the Memorial University of Newfoundland, and has been a Registered Professional Geologist with PEGNL for 27 years.
Christos Doulis, CEO of Canstar Resources, commented: "We are very excited to welcome Kerry to Canstar's Advisory Board. His deep geological knowledge and wealth of experience in Newfoundland and Labrador, and particularly in the Buchans Camp, will be extremely valuable as Canstar executes its plan to systematically explore for deposits in the prolific past producing Buchans Camp as well as its other projects in the province."
Kerry Sparkes commented: "I am very excited to return to such a historic belt where I started my career, and to use the experience gained over the years working within that camp and other VMS camps, to help aid in exploration efforts to discover new high-grade VMS deposits in the Buchans area."
Phase I Drilling at Buchans-Mary March Update
Phase I Drilling at Canstar's Buchans-Mary March project commenced on Sunday January 6th and is anticipated to be complete by mid-February, 2019. The first hole (MM-19-36), a 650m deep hole designed to test for VMS mineralization under the historic "discovery" hole MM 294-7, has been drilled to a depth of around 461m, having just entered the felsic volcanic horizon which could host Volcanogenic Massive Sulphides. Completion of this hole is anticipated within days, after which Canstar will drill three +200m holes over a 1.2km length to the SW of MM-19-36 where there has been little historic drilling. Borehole EM surveys are planned for each drill hole which will locate conductive mineralization within 100 metres and aid in targeting for Phase II drilling which is anticipated to commence in March 2019.
On behalf of the Board,
Christos Doulis,
President & CEO
Qualified Person
Bob Patey, B.Sc. / P. Geo, Vice President Exploration and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed and approved this release.
About Canstar Resources
Canstar Resources is a Canadian mineral exploration and development company, with the objective to discover and develop economic mineral deposits in North America. Currently, Canstar's focus is to advance its flagship Mary March project and other mineral exploration properties in Newfoundland and Labrador. Canstar is based in Toronto, Canada and is listed on the TSX Venture Exchange and trades under the symbol ROX-V, and on the OTCQB Exchange under the symbol CSRNF.
For further information, please contact:
Christos Doulis,
President & CEO
Tel: 647-557-3442
Email: cdoulis@canstarresources.com
www.canstarresources.com
Forward-looking Statement
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 includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
