Redstar Gold Corp

Published : September 13th, 2011

Begins Drilling on High-Grade Gold Target in Alaska

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
 

    Tuesday, September 13, 2011

Redstar Begins Drilling on High-Grade Gold Target in Alaska

Redstar Gold Corp. (TSX.V: RGC) is pleased to report that drilling has begun on the Unga Project in Alaska. The project is located on Unga and Popof Islands, 10 km west of the town of Sand Point in the Aleutians Islands, Alaska. The Unga Project consists of two properties acquired by Redstar in 2011: the Shumagin Property and the Unga-Popof Property. Redstar is purchasing a 100% interest in the Shumagin Property from Magnum Hunter Resources. The mineral rights to the Unga-Popov property are held by Full Metal Minerals Inc. under a lease agreement with The Aleut Corporation, an Alaska Native Regional Corporation headquartered in Anchorage, Alaska with approximately 3,600 shareholders . Redstar has signed an Agreement with Full Metal giving Redstar the right to earn up to a 75% interest in the property. The project contains an early 1900's gold producer, two historic gold resources and numerous gold showings along three defined gold trends. The 2011 drill program will focus on confirming and expanding high-grade gold mineralization intersected in past drilling completed in the 1980's.

Drilling on the Shumagin property in the 1980's partially defined a zone of near-surface gold and silver mineralization along the Shumagin Vein that resulted in an initial historic resource of 281,000 tons at a grade of 0.80 oz/t (27.4 g/t) gold 3.7 oz/t (127 g/t) silver for a total of 225,000 ounces of gold and 1,000,000 ounces of silver (April, 2000 report by SRK Consulting). This resource was calculated from surface to a depth of only about 220 metres. A hole drilled 130 metres beneath the resource intersected 5.5 metres of 16 g/t gold (18 ft averaging 0.47 oz/t gold) and highlights the potential to expand the resource. Step-out drilling along strike from the resource intersected values up to 11.5 g/t gold over 1.3 metres and 37.8 g/t gold over 0.76 metres, and this has not been followed up. The Shumagin Vein system is at least 1.2km long and contains muliple veins; the resource area is only a small portion of its total potential.

Note that a qualified person has not done sufficient work to classify the Shumagin Vein historic estimate as a current mineral resource or mineral reserves compliant with NI 43-101. The Company is not treating the historic estimate as current mineral resources or mineral reserves and the historic estimate should not be relied upon or understood to indicate the existence of reserves or resources.

Scott Weekes, President of Redstar Gold Corp. stated: "The acquisition of the Shumagin and Unga-Popof properties gives Redstar control of an emerging, high-grade epithermal gold-silver district which has been overlooked for the past 30 years while we have seen the gold price quadruple. The Unga project represents tremendous exploration potential, as it's the first time the entire district has been consolidated under one operator for its integrated exploration and development. The Unga Project (along with our Newman Todd Project at Red Lake) has potential to dramatically change Redstar and move the Company rapidly down the path toward mine development."

Unga Project

The Unga Project covers an epithermal vein field in the Aleutian Islands, Alaska, one of the best mining jurisdictions globally. The Sitka and Apollo mines, active during the early 1900's, produced approximately 150,000 ounces of high-grade gold and were among the first gold mines in Alaska. Very little work was done in the district between 1920 and 1980. Since 1980, a number of companies have conducted exploration in the district, and although new mineralized areas were discovered outside of the historic mines, land ownership was fractured, and the exploration efforts lacked focus and continuity.

Exploration since 1980 has identified three gold trends on Unga Island with a combined strike length of over 30 km. The Shumagin vein high-grade resource was discovered along with numerous other gold showings along the trends. Very little work has been completed beneath the historic workings at Sitka-. The exploration potential of the Unga Island trends is considered high.

On Popof Island, work in the 1980's defined several areas of disseminated gold mineralization. Battle Mountain Gold completed 59 Diamond drill holes into one of the zones, Centennial, and reported a non 43-101 compliant shallow resource of 4.9 million tonnes grading 1.4 g/t gold. Later geophysical surveys delineated undrilled features which may represent underlying feeders to the disseminated gold mineralization.

Note that a qualified person has not done sufficient work to classify the historic estimate at Centennial as a current mineral resource or mineral reserves compliant with NI 43-101. The Company is not treating the historic estimate as current mineral resources or mineral reserves and the historic estimate should not be relied upon or understood to indicate the existence of reserves or resources.

Dr. Jake Margolis is the qualified person as defined by National Instrument 43-101 and has reviewed this news release. Dr. Margolis is the US Exploration Manager for Redstar Gold Corp.

About Redstar Gold Corp.

Redstar recently acquired a high-grade epithermal gold district in Alaska that is a good complement to the high-grade gold discovery in Red Lake, Ontario. The Shumagin project in Alaska includes a high-grade gold deposit with a non 43-101 compliant resource, a bulk tonnage non 43-101 compliant resource, a historic high-grade gold mine, and numerous high priority exploration targets. At the Unga Project in Alaska a drilling program is currently underway, and an aggressive drill program is underway on Redstar's high-grade gold discovery at the Newman-Todd project in Red Lake, Ontario. Along with the high-grade gold projects in Alaska and Red Lake, the company also has a total of 14 gold focused projects in Nevada.

On Behalf of the Board,
Redstar Gold Corp

"Scott Weekes"

Scott Weekes
President

TSX.V:RGC

WWW.REDSTARGOLD.COM
SUITE 615
800 WEST PENDER STREET
VANCOUVER, BC
TEL: 604.488.0051

CORPORATE INQUIRIES
Redstar Gold Corp.
Tim Mikula, Investor Relations
Tel: 604.488.0051
tmikula@redstargold.com
www.redstargold.com

Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corporation (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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.

Subscribe |
 

Redstar Gold Corp

EXPLORATION STAGE
CODE : RGC.V
ISIN : CA75773Q2080
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Redstar Gold is a gold exploration company based in Canada.

Redstar Gold holds various exploration projects in Canada and in USA.

Its main exploration properties are PAINTED HILLS, DRY GULCH (NEVADA), EAGLE BASIN and RICHMOND SUMMIT in USA and NEWMAN TODD in Canada.

Redstar Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 31.2 millions as of today (US$ 23.5 millions, € 19.8 millions).

Its stock quote reached its lowest recent point on December 14, 2001 at CA$ 0.01, and its highest recent level on September 23, 2011 at CA$ 0.68.

Redstar Gold has 296 950 016 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Redstar Gold Corp
4/21/2016Announces Non-Brokered Private Placement
8/8/2013Announces Non-Brokered Private Placement
7/6/2011Increases Non - Brokered Private Placement
Nominations of Redstar Gold Corp
7/26/2012Appoints Bob Singh as New Chief Executive Officer
2/23/2011Redstar appoints Mr. Alec Peck as Chief Financial Officer
2/23/2011Appoints New Chief Financial Officer
2/14/2011Redstar Gold engages Mike Niehuser (beacon rock research) fo...
Project news of Redstar Gold Corp
3/24/2015Redstar Gold Corp Announces Confederation Minerals Exercises...
12/22/2014Redstar extends known surface mineralization along the Shumi...
12/22/2014Redstar extends known surface mineralization along the Shumi...
12/5/2013Completes Purchase Of Shumagin Project
10/31/2013(Newman Todd)Confederation Exercises First Option for 50% Interest in New...
9/19/2012(Newman Todd)Continues to Intersect High-Grade Gold at Newman Todd 5.50 ...
9/19/2012(Newman Todd)Continues to Intersect High-Grade Gold at Newman Todd 5.50 M...
7/31/2012(Newman Todd)Hits Bonanza Grade Intercept at Newman Todd; 19.86 Ounces / ...
7/17/2012(Newman Todd)More High Grade Gold at Newman Todd 22.0 metres of 4.31 g/t ...
6/20/2012(Root Spring)Drilling Starts at Redstar Gold's Root Spring Project, Nevad...
5/24/2012Drilling Commences At Newman-Todd
5/16/2012Provides Update on 2012 Exploration Programs
4/18/20122012 Exploration Program Initiated at Newman-Todd
11/28/2011Intersects High-Grade Gold in Alaska Returns 21 Metres of 4....
9/12/2011Intersects Bonanza Gold Grades in Red Lake - Highlight drill...
8/16/2011High-Grade Drill Results From Red Lake
8/4/2011(Oasis Project)Centerra to Continue Drilling Redstar Gold's Oasis Project
7/21/2011(Root Spring)Options Root Spring Gold-Silver Project in Nevada to Brocade...
6/16/2011Leases Baker Project in Nevada
5/4/2011(Newman Todd)Confederation Minerals Ltd. and Redstar Gold Corp. Announce ...
4/8/2011(Newman Todd)Intersects High-Grade Gold at Newman Todd
3/14/2011(Newman Todd)Intersects Multiple High-Grade Gold Zones In Red Lake
3/2/2011(Cooks Creek)Options Nevada Project to Catalina Metals Corp.
2/17/2011(Oasis Project) Widespread Gold Mineralization Intersected At Redstar Gold'...
2/23/2010(Richmond Summit)Provides Update On The Richmond Summit Project Carlin Trend,...
2/10/2010(Oasis Project)Centerra (U.S.) Inc. To Option Redstar Gold's Oasis Project ...
2/3/2010Drilling Resumes On Redstar's High-Grade Gold Discovery In R...
4/29/2008Intersects Bulk Tonnage Gold Mineralization at its North Bul...
4/28/2008(Newman Todd)Confirms New High Grade Gold Trend in Red Lake Gold Intersec...
4/14/2008(North Bullfrog)INTERSECTS NEW BULK TONNAGE GOLD SYSTEM IN NEVADA
2/26/2008(Newman Todd)Provides Updates on Nevada and Red Lake, Ontario Drilling
Corporate news of Redstar Gold Corp
8/2/2016Redstar Gold Signs LOI with NV Gold Regarding Sale of its Ne...
7/25/2016International Epithermal Expert, Dr. Jeffrey Hedenquist, Iss...
7/11/2016Redstar Gold Completes Exploration Program at its High-Grade...
6/8/2016Redstar Gold Commences Advanced Drill Targeting Exploration ...
4/29/2016Redstar Gold Closes Non-Brokered Private Placement
4/21/2016Redstar Gold Announces Non-Brokered Private Placement
1/25/2016Redstar Gold Announces the Appointment of New President & CE...
1/21/2016Redstar Gold to present the High Grade Unga Gold Project at ...
1/20/2016Redstar Gold to Seek Partners for its Nevada Property Portfo...
12/18/2015Redstar Gold's Ken Booth Interviewed by The Gold Report
12/17/2015Redstar Gold Corp featured in The AuReport
12/15/2015Caesars Report's Thibaut Lepouttre Interviewed by The Gold R...
10/5/2015Redstar Gold Corp. Is Pleased to Announce That It Will Prese...
10/2/2015Redstar Gold Corp. Is Pleased to Announce That It Will Prese...
9/8/2015Redstar Gold Announces Non -- Brokered Private Placement
8/21/2015Redstar Gold Adopts Advance Notice Policy
3/31/2015Redstar Gold to Drill its Unga Gold Project, Alaska
2/25/2015Redstar Gold Corp announces Management changes.
2/11/2015Redstar Gold Corporation Announces New Board Appointments
12/12/2014Receives High-Grade Gold Results, Including Grades of 401 g/...
11/28/2014Redstar Retains Renmark Financial Communications Inc.
11/19/2014Strategic Acquisition Consolidating the Unga Island High-Gra...
11/19/2014Strategic Acquisition Consolidating the Unga Island High-Gra...
11/17/2014Redstar announces the appointment of Grant T. Smith as Chief...
10/30/2014Redstar Completes Renegotiation of Strategic Acquisition Con...
10/27/2014Redstar Completes Surface Field Program at its Unga Gold Pro...
10/27/2014Redstar Completes Surface Field Program at its Unga Gold Pro...
9/10/2014Redstar Gold Announces Management Appointments
8/12/2014Exploration update at Redstar's High-Grade Unga Gold Project
6/24/2014Redstar to Commence Field Work at Unga Project
3/25/2014Redstar Gold Corporation Announces Management and Board Chan...
2/24/2014Sells Nevada Database to Rennaisance Gold
2/19/2014Acquires 100% Of The Unga High-Grade Gold Project In Alaska
1/27/2014Options Nevada Properties
10/2/2013(Newman Todd)Drilling at Newman Todd Intersects High-Grade Gold
10/1/2013Early Warning Report
8/28/2013(Newman Todd)Drilling at Newman Todd Intersects High-Grade Gold 10.39 g/t...
8/21/2013Closes Non-Brokered Private Placement And Announces Appointm...
7/3/2013(Newman Todd)Drilling at Newman Todd Intersects High-Grade Gold 26.40 g/...
5/1/2013(Newman Todd)Drilling at Newman Todd Intersects High-Grade Gold 89.07 g/...
4/8/2013(Newman Todd)Drilling at Newman Todd Intersects High-Grade Gold 63.10 g/...
1/18/2013(Newman Todd)Drilling at Newman Todd Intersects High-Grade Gold and Signi...
10/24/2012(Root Spring)Root Spring Drilling Program Returns Multiple Silver-Gold In...
10/11/2012Drilling Program Begins at Redstar Gold's Baker Project, Nev...
6/22/2012Drilling intersects more high grade gold.13.0 metres of 5.71...
5/2/2012presenting at 'Making the Grade' Mining Conference
3/21/2012(Root Spring)and Brocade Metals Sample High Grade Silver and Gold at Root...
1/23/2012(Newman Todd)Intersects 27 metres of 5.95 g/t gold including 1 metre of 1...
1/18/2012Identifies New High-Grade Gold Vein System with 94.7 g/t Au ...
1/12/2012(Newman Todd)Continues to Intersect Wide Zones of Gold Mineralization wit...
12/6/2011Intersects Bonanza Grade Gold-Silver on the Unga Project, Al...
9/13/2011Begins Drilling on High-Grade Gold Target in Alaska
9/7/2011Jeff Pontius Joins Redstar Gold Corp. Board
6/20/2011Step-Out Drilling Continues to Intersect High-Grade Gold
6/13/2011Acquires High Grade Gold District in Alaska
5/24/2011Acquires High Grade Gold Project; Historic Drilling Returns...
5/9/2011(Newman Todd)Drilling Resumes at Newman Todd Gold Project in Red Lake
5/4/2011Confederation Minerals Ltd. and Redstar Gold Corp. Announce ...
4/11/2011Prepares For 2 Drills At Newman-Todd
4/15/2010Continues to Expand Gold System at Red Lake Project
5/27/2008Expands Bulk Tonnage Potential At Mayflower Gold Deposit, Ne...
5/22/2008Completes Purchase Of Nevada Database From Anglogold Ashanti
5/12/2008Begins Work on Redstar’s Carlin Trend Properties in Nevada
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (RGC.V)Other OTC (RGCTF)
0.105+0.00%1.08-1.73%
TSX-V
CA$ 0.105
10/20 15:51 -
0%
Prev close Open
0.105 0.105
Low High
0.100 0.105
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.105 -%
Volume 1 month var.
675,172 -%
24hGold TrendPower© : -35
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 1/23/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2020320.00%0.150.02
20190.00%0.040.02
2018-61.54%0.070.03
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 6.95+1.02%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 2.89-3.02%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.58+2.09%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.10-9.09%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.13+12.70%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 6.49+3.34%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.26+6.25%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.29+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.97+1.55%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 56.17+1.79%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :