VANCOUVER, BC, Feb. 23, 2021 /CNW/ - Starr Peak Exploration
Ltd. ("Starr Peak" or the "Company") (TSXV: STE) (OTC:
STRPF) is pleased to announce positive results of a
geophysical survey on the Main bloc of its NewMétal property
("NewMétal" or "the Property") covering the past-producing
Normétal Mine, from which ~10.1M tonnes of 2.15% Cu, 5.12% Zn,
0.549 g/t Au, and 45.25 g/t Ag were produced (Boivin, 1988), and
the Normetmar showing.
Initial drilling reopened historical hole 96-30-16b allowing a geophysical borehole
electromagnetic survey (BHEM) to be performed into this deep hole.
Also, two additional historical holes (95-30-08 and 96-30-15) were
surveyed. Results from the geophysical surveyed holes returned
three anomalies along the Normetmar downdip trend in depth. The
deepest and strongest anomaly is characterized by a high
conductance (1000 Siemens) which is interpreted has a thick
conductor or a more conductive zone. The area of high conductance
(135 x 75 metres) is untested and the geophysical BHEM survey
results provide strong confidence into the drilling targets
initially highlighted. Figure 2 indicates the locations of the
newly defined conductor areas who are concordant with the known
mineralized horizon.
Johnathan More, Chairman and CEO,
of Starr Peak commented, "The
drilling campaign is now armed with confidence and we are very
excited to test these anomalies located directly in the historical
mineralized horizon of the past producing Normétal mine. Modernized
exploration technology is now enhancing the potential of our
highly-prospective Newmétal property, neighbouring Amex
Exploration's Perron project. Additionally, Amex's new high-grade
discovery last week on the Normetal fault is giving us further indication
that more high-grade zones can be discovered."
Qualified Person
Alexis Paulin
Bissonnette, Ing. (OIQ 5037621), an independent Qualified
Person as defined by Canadian NI 43-101 standards, has reviewed and
approved the geological information reported in this news release.
The Qualified Person has not completed sufficient work to verify
the historic information on the Property, particularly in regards
to historical drill results. However, the Qualified Person believes
that drilling and analytical results were completed to industry
standard practices. The information provides an indication of the
exploration potential of the Property but may not be representative
of expected results.
References and disclosures
Amex Exploration Perron Project:
Amex Exploration Inc. Press Releases dated July 16, 2020 and May 21,
2019, January 17, 2018.
Normétal historical Mine and Normetmar:
Summary Report, Normetmar Project, January
1988 by L. Boivin
Metal Factor zinc equivalent formula:
Zn_eq (%) = Zn(%) + [Cu(%) * Cu price (lb) / Zn price (lb)] +
[Ag(%) * Ag price (oz) * 14,632 / Zn price (lb) ] +
[Au(%) * Au price (oz) * 14.632 / Zn price (lb)]
Zn_eq % based on US$: 1.1$/lb Zn, $3/lb Cu, $23/oz
Ag, $1800/oz Au.
The information on the Longitudinal have not been validated
otherwise than with the information insides historical reports and
cross sections. Exact location of historical drill hole pierce
points on the longitudinal may be different.
The Company wishes to caution that historical resources
described above are historical. The historic resources are relevant
to give a ballpark estimate of the potential on the property.
Historical resources should not be relied upon. The key
assumptions, parameters and methods used to prepare the historical
estimate is not known and thus the difference between the historic
estimates and NI 43-101 compliant estimates is also not
known. The historical estimates used categories other than
the ones set up in sections 1.2 and 1.3 of National Instrument
43-101, Standards of Disclosure for Mineral Projects. A qualified
person has not reviewed the historical estimates and has not done
sufficient work to classify the historical estimates as current
mineral resources and Starr Peak is
not treating the historical estimates as current mineral resources
under National Instrument 43-101 and CIM Standards for mineral
resources and reserves. Further exploration work needs to be done
to correctly evaluate these historical resources. Additionally, the
methodology of calculation is unknown by the qualified person.
Grab samples are selective by nature and the values reported may
not be representative of the mineralized zone.
Mineralization hosted on adjacent and/or nearby properties is
not necessarily indicative of mineralization hosted on the
Company's property.
On Behalf of the Board of Directors of Starr Peak Exploration
Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
About Starr Peak Exploration Ltd.
Starr Peak Exploration Ltd. is a Canadian based mineral
exploration company focused on the acquisition and exploration of
precious and base metal mineral deposits. The primary objective of
the Company is to acquire, explore and develop high potential and
quality gold deposits and projects in the Americas. The Company is
committed to create long term shareholder value through mineral
discoveries.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
the content of this news release.
No securities regulatory authority has either approved or
disapproved of the contents of this news release. The securities
being offered have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws, and may not be
offered or sold in the United
States, or to, or for the account or benefit of, a "U.S.
person" (as defined in Regulation S of the U.S. Securities Act)
unless pursuant to an exemption therefrom. This press release is
for information purposes only and does not constitute an offer to
sell or a solicitation of an offer to buy any securities of the
Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking
Information:
This press release contains forward-looking information based
on current expectations, including the use of funds raised under
the Offering. These statements should not be read as
guarantees of future performance or results. Such statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to be
materially different from those implied by such statements.
Although such statements are based on management's reasonable
assumptions, Power Metals assumes no responsibility to update or
revise forward-looking information to reflect new events or
circumstances unless required by law.
Although the Company believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this press release. Actual
results could differ materially from those currently anticipated
due to several factors and risks including various risk factors
discussed in the Company's disclosure documents which can be found
under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The TSXV has neither reviewed nor approved the
contents of this press release.
SOURCE Starr Peak Exploration Ltd.