Goldstar reports further prospecting results at Lake George Property in New Brunswick, Canada
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MONTREAL, Jan. 23, 2018 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Company”) (TSXV:GDM) is pleased to announce that it has received final results from the 2017 prospecting campaign at its Lake George Property, located in New Brunswick, Canada. The prospecting was the final part of the recently completed trenching program. These efforts were targeting areas that had not been previously explored. A total of 22 samples were assayed and 9 returned anomalous gold values (values greater than 30 ppb Au).
New mineralized outcrop discovered 450m south and on trend with WLF Zone.
One sample returned 1.8 g/t Au from boulders, sub-crops and outcrops from an area 450m south of the WLF zone. Recall that the WLF zone has been defined at surface over an area 100m x 25m with an average grade of 1.0 g/t Au (see press release 2017/11/30). The newly sampled outcrop is of a similar nature to that of the WLF zone, namely mineralization associated with strongly altered metasediments, containing finely disseminated sulfides in a sericitized and hematized matrix.
Assays were performed at AGAT Laboratories located in Mississauga, Ontario using conventional Au fire assay. These are grab samples that are 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
The exploration team is presently completing the compilation of the data from the latest field campaign. The team is preparing the next phase of drilling which will be preceded by a gravimetric survey. Goldstar expects to begin a second diamond drill program at Lake George in March 2018. Access for drilling is excellent all year long and easy logistics are expected.
Benoit Moreau, President and CEO of Goldstar comments: “These latest results are quite exciting as they continue to improve the potential of the Lake George project. Based on the position of the 1.8 g/t Au sample and the WLF zone, we may have a zone potentially striking at least 550 m long and still open in both directions. The other results were also very encouraging as they indicate that we may be in a gold enrichment zone or very close to the gold source. We look forward to using the results of the gravimetric survey combined with the prospecting results to further refine our exploration efforts.”
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
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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.