Wednesday, October 02, 2013
Drilling at Newman Todd Intersects High-Grade Gold
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10.0 metres grading 7.43 g/t gold including 0.5 metres grading 128.0 g/t gold.
Vancouver, B.C. Redstar Gold Corp. (TSX.V: RGC): ("Redstar" or the "Company") is pleased to announce assay results from the final four holes of the 2013 Diamond drill program at the Newman Todd property in Red Lake, Ontario. All four holes were drilled into the southwest end of the Hinge Zone within the Newman Todd Structure ("NTS"). See Figure 1 for a location map.
Drilling Highlights:
- NT-161 intersected 1.5 metres of 5.13 g/t gold and 0.5 metres of 20.0 g/t gold.
- NT-162 intersected 10.0 metres of 7.43 g/t gold including 0.5 metres of 128.0 g/t gold and 6.0 metres of 4.57 g/t gold including 0.5 metres of 49.10 g/t gold.
- NT-163 intersected 1.5 metres of 9.97 g/t gold including 0.5 metres of 18.9 g/t gold.
Table of significant results:
| Hole ID |
|
From (m) |
To (m) |
Width (m) |
Au (g/t) |
| NT-161 |
|
82.0 |
83.0 |
1.0 |
5.30 |
| NT-161 |
and |
121.5 |
123.0 |
1.5 |
5.13 |
| NT-161 |
and |
149.0 |
149.5 |
0.5 |
3.00 |
| NT-161 |
and |
172.0 |
172.5 |
0.5 |
20.00 |
| NT-162 |
|
12.0 |
13.0 |
1.0 |
3.66 |
| NT-162 |
and |
63.0 |
73.0 |
10.0 |
7.43 |
| NT-162 |
including |
63.0 |
64.0 |
1.0 |
3.86 |
| NT-162 |
and including |
71.0 |
71.5 |
0.5 |
128.00 |
| NT-162 |
and |
91.0 |
97.0 |
6.0 |
4.57 |
| NT-162 |
including |
91.0 |
91.5 |
0.5 |
49.10 |
| NT-162 |
and |
122.5 |
123.0 |
0.5 |
5.47 |
| NT-163 |
|
27.0 |
28.0 |
1.0 |
3.97 |
| NT-163 |
and |
83.0 |
88.0 |
5.0 |
3.41 |
| NT-163 |
including |
85.5 |
87.0 |
1.5 |
9.97 |
| NT-163 |
and including |
85.5 |
86.0 |
0.5 |
18.90 |
| NT-163 |
and including |
86.0 |
87.0 |
1.0 |
5.51 |
| NT-164 |
weakly anomalous but stopped short of the target depth | * Width is calculated as core length and does not imply true width of the zone. Weighted average gold intervals apply a 0.20 g/t lower cut-off. Internal dilution within reported intervals does not exceed core lengths of 3 metres unless otherwise indicated
R. Bob Singh P.Geo, President of Redstar states: "These latest results from the Hinge Zone are very encouraging as they are approximately 250 metres away from the center of the Hinge Zone and on the boundary with the Heath Bull Zone. Redstar first discovered high grade gold mineralization on the Newman Todd Property in 2005 in the Heath Bull Zone. Since that discovery, the entire Newman Todd Structure has been systematically drilled culminating in the discovery of the Hinge Zone -- a classic Red Lake Mine style of gold mineralization. The Hinge Zone currently has a strike length of approximately 525 metres and remains open at depth."
Exploration work at the Newman Todd project is funded by the operator, Confederation Minerals Ltd. (TSX.V: CFM) ("Confederation"). Pursuant to an option agreement with Redstar, Confederation can earn a 50% interest in the project by spending $5.0 million on exploration, paying Redstar a total of $250,000, and issuing Redstar 500,000 shares by November 2013. To date Confederation has spent in excess of $5.0 million on exploration on the project, paid Redstar $175,000 and issued Redstar 350,000 shares. Confederation can earn an additional 20% interest by producing an NI43-101 compliant Preliminary Economic Assessment (PEA) by November 2016.
Andrea Diakow P.Geo is the qualified person as defined by National Instrument 43-101 and has reviewed the technical content related to the disclosed drill results in this news release. Core samples from the program were cut in half using a Diamond cutting saw and were sent to Activation Laboratories Ltd. in Red Lake, Ontario, an accredited mineral analysis laboratory. All samples were analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold were analyzed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream as part of Confederation's quality control/quality assurance program.
On Behalf of the Board,
Redstar Gold Corp
"R. Bob Singh"
R. Bob Singh P.Geo
President & CEO
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, Business Development
Tel: 604.488.0051
tmikula@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 Corp. (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.
Figure 1: Plan View of Property showing Drill Hole Location
View News Release in PDF Format:
- Associated File: http://www.redstargold.com/i/pdf/2013-10-02_NR.pdf
- 538 KB in size, approx. 1 minute, 41 seconds to download at 56.6Kbps
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