Goldstar reports on initial prospecting at its Anctil property in Québec, Canada
22 Dezembro 2020 - 11:00AM
Goldstar Minerals Inc. (“
Goldstar” or the
“
Corporation”)
(TSX-V: GDM) is
pleased to announce that it has received assay results from the
recently completed prospecting and mapping program on its Anctil
property in the Chibougamau area of Québec.
The prospecting campaign on Anctil covered a
target area of approximately 5 square kilometres and 144 samples
were sent for analytical determination of Gold. Fifteen (15)
outcrop samples returned anomalous values up to 128 ppb Au (0.13
g/t Au) as shown in the following table:
Range of values (ppb Au)* |
Number of anomalous samples |
10 – 19 |
7 |
20 – 29 |
3 |
30 – 39 |
1 |
> 40 |
4 |
* Analyses were
performed by AGAT Lab on 50 g charge sample using Fire Assay with
an AAS finish
Most of these anomalous samples were gathered
several hundred metres south of an altered tonalite intrusion
intersected by historical drilling. The prospecting campaign
outlined a new target area of approximately 1 kilometre long by 0.8
kilometre wide south of Anctil Lake. This target area, where almost
no drilling was performed in the past, is open both to the west and
the east, and additional prospecting would be needed to confirm its
extent
(https://www.goldstarminerals.com/documents/en/news_releases/pr201222e_figure.pdf).
Historical drilling done in 1987 by Argentex
Resource Exploration Corp., returned in hole LA-87-6 values of up
to 3.5 g/t Au over 0.9 m between 101.6 and 102.5 m and up to 36.1
g/t Au over 0.9 m from 127.9 to 128.8 m in the surrounding host
rocks consisting of mafic and felsic volcanic rocks, less than 25
metres away from the altered tonalite and host rocks contact. The
hole LA-87-6 is reported to have a total length of 134 m and is
believed to have tested the northern edge of the new target area
that extends a few hundred metres to the south.
The Corporation cautions that these gold values
are historical in nature and, thus, not NI 43-101 compliant. In
addition, these values may not be representative of the
mineralization that may be present on the property.
The Anctil property is located approximately 50
km west of the Nelligan Project, where an inferred resource of 3.2
million ounces of gold (96,990,000 tonnes averaging 1.02 grams Au
per tonne) was announced last October (NI 43-101 Technical Report
and Initial Estimate for the Nelligan Project, Iamgold Inc.,
October 2019).
Next steps
The Corporation is awaiting the compilation of
assay results from the detailed prospecting campaign on the
Nemenjiche property. Goldstar is also awaiting results from a VTEM
airborne survey covering approximately 550 line kilometers over
both Anctil and Nemenjiche for a total of 1,100 line kilometers.
VTEM is a useful and high-accuracy technology for mapping lateral
and vertical variations in resistivity, and to identify sulphide
bearing units.
David Crevier, CEO states “Our current round of
field work has established a target zone 1.0 km by 0.8 km that has
had very limited historical drilling. However, this limited
drilling does include hole LA-87-6 which has the highest grade
intercepts documented in this area. Previous exploration had
focused on areas to the north, west and east of hole 87-6 while our
prospecting points to the target area to the south and which is
open to the east and west. Once we combine the results from the
geophysics with this new understanding of the target area, we will
be able to define our drill targets for the upcoming drilling
campaign.”
Disclosure
The technical information contained in this news
release has been reviewed and approved by Benoit Moreau, P.Eng., a
consultant of the Corporation. Mr. Moreau is a qualified person as
defined by National Instrument 43-101, Standards of Disclosure for
Mineral Projects.
For further information, please contact:
David CrevierChairmanTelephone:
514-284-3663dcrevier@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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/92e327c0-7593-42e9-8090-7c97336b29f6
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