Redstar Gold Corp

Published : January 21st, 2016

Redstar Gold to present the High Grade Unga Gold Project at the Mineral Exploration Roundup Conference in Vancouver January 25th -28th

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Redstar Gold to present the High Grade Unga Gold Project at the Mineral Exploration Roundup Conference in Vancouver January 25th -28th

Vancouver, Canada, January 21st, 2016 - Redstar Gold Corp. (TSX.V: RGC) ('Redstar' or the 'Company') is pleased to announce that the Company will present at the upcoming Mineral Exploration Roundup conference in Vancouver, British Columbia,

Redstar's VP of Exploration, Mr. Jesse Grady (CPG) B.Sc., MSc., will present at 8:50 am PST on Wednesday, January 27th 2016 at the Vancouver Conference Centre East.

The Technical Paper is entitled:

'Exploring for Alaska's Next High Grade Gold Mine - The Unga Gold Project
- A High Grade, Intermediate Sulfidation Epithermal District'

A copy of the Presentation will be available on the company website at that time.


In addition, Redstar will be participating in the conference's Core Shack feature from Wednesday 27th to Thursday 28th January (Booth 919). The Company will be exhibiting drill core from the high grade Shumagin Vein system on Unga Island and other related technical and geological data accumulated over the past several exploration programs. Recent drilling highlights completed by Redstar in 2015 on the Shumagin vein system included the following results:
  • 1.9 m of 202 g/t gold and 82 g/t silver, and
  • 11.85 m of 13.4 g/t gold and 85.5 g/t silver and
  • 3m of 16.95 g/t gold and 183 g/t silver
Redstar's management team will also be available to discuss and elaborate on its 100% owned portfolio of 11 gold and silver exploration prospects in Nevada and our extensive exploration database. Please refer to the press release dated January 15, 2016 at the Company's website www.redstargold.com.

The Association of Mineral Exploration BC conference attracts a very large audience of mining professionals and is an excellent forum to showcase the substantial merits and potential of the High Grade Unga Gold Project to our peers in the industry, mining analysts, news-letter writers and to other potential private and corporate investors. The conference information can be found at: http://www.amebc.ca/roundup.

About the Unga Gold Project:

Redstar acquired the Unga Project in 2011 and now controls 100% of a 250 square kilometre gold district. The Project covers portions of adjacent Unga and Popof Islands, approximately 900 kilometres southwest of Anchorage, Alaska and is accessible via daily flights from Anchorage utilizing a 1,500 metre all weather paved airstrip.

The Project is host to numerous intrusion-centred, intermediate-sulfidation, structurally controlled epithermal vein, vein breccia, stockwork and disseminated gold occurrences. On Unga Island two partially fault controlled NE-SW oriented semi-linear alteration trends, transects the entirety of the southern half of the island (see figure below). Each of these trends is approximately 9.5 kilometres long and host to numerous precious and base metal vein systems. The Apollo-Sitka trend is host to Alaska's first underground gold mine with historically gold production of approximately 150,000 ounces at 10 g/t gold. The Shumagin trend has been the focus for Redstar's drilling and since acquisition of the Project Redstar has completed a further 18 Diamond drill holes out of a total of 58 holes that have been completed on the Shumagin Zone.

As a result of Redstar's two drill programs, a surface exploration program in 2014 and a comprehensive compilation and interpretation of historical data Redstar now possesses a very good understanding of the genesis and controls on mineralization. This knowledge will be key to exploring Redstar's district scale gold project.


Project Geology

Epithermal mineralization is widespread and is thought to have been at least partially coeval with L.Eocene to E.Oligocene Popof island arc volcanics: a stacked sequence of subduction-related calc-alkaline basaltic to rhyolitic flows, agglomerates, pyroclastic flows & epiclastic units built on top of and intercalated with shallow marine sedimentary rocks.

Mineralization

Gold & silver bearing epithermal occurrences have common vein form, textures and gangue mineralogy that spell out a district-scale, intermediate-sulfidation hydrothermal system. Vein gangue is dominated by quartz-adularia-carbonate (Mn-carbonate) and pyrite-galena-sphalerite and lesser chalcopyrite. Mineralized vein systems are haloed by phyllic and/or potassic alteration assemblages, situated within near-vein 'cores' of silicification (replacement) and broad argillic alteration zones. Volcanic stratigraphy, fault/fracture networks and andesitic/dacitic domes are primary controls to the localization of epithermal mineralization.

Shumagin Zone

Redstar is currently focused on the Shumagin Zone located at the eastern end of the Shumagin Trend. The precious metal-bearing Shumagin vein system has a strike extent of over 1.2 kilometres and a depth extent of 330 metres as outlined by drilling and surface trenching. The Zone remains open along strike and at depth

The Shumagin Zone is interpreted to be a phreatomagmatic (magmatic-hydrothermal) intermediate-sulfidation breccia system that has been localized along the Shumagin Scarp; a northeast oriented steeply southeast dipping faulted contact between a body of coherent basaltic-andesite (footwall) and a hangingwall sequence of dacitic pyroclastic flows and overlying epiclastic sediments. A complex arrangement of steeply-standing phreatomagmatic breccias and dikes were also emplaced along this contact and are interpreted to be pre- to syn-mineralization.

Multiple, structurally controlled dextral-oblique dilation zones occur at fault/vein intersections (NE-SW & E-W) along the Shumagin Scarp. These dilation zones are the primary controls to localization of phreatomagmatic & gold-silver bearing hydrothermal breccia bodies. Sub-vertical dikes which have been cross-cut, moderately brecciated and entrained within the Shumagin vein system have been encountered within the hangingwall portion of structurally controlled dilation zones. The dikes are bound and cut by high-grade gold veins that occur in a variety of drill holes spaced approximately ~200 metres down plunge of a NE plunging, high-grade mineralized shoot. These observations suggest a connection exists between dextral-oblique dilation zones and localization of phreatomagmatic breccias, dikes and high-grade gold-silver mineralization.

Future Exploration

Efforts will focus on expansion about steeply-dipping structurally controlled dilation zones that are documented along the Shumagin Scarp.

The recognition of dextral-oblique dilation zones as the primary control to high-grade gold-silver mineralization at Shumagin has only recently been documented and plays an important role for exploration vectoring at other noteworthy intermediate-sulfidation prospects within the Unga Gold Project.

About Redstar Gold Corporation

Redstar is a junior exploration company focused on high-grade gold exploration in North America. In Alaska, the Company is exploring the 100% owned high-grade Unga Gold Project, which was initially acquired in 2011. The Unga Gold Project contains several high-grade gold/silver vein systems, two of which, Apollo & Sitka were sites of historic high-grade gold production. Redstar completed an eight hole, 1,500 metre Diamond drill programme in May 2015 on the Shumagin Gold Zone, which yielded several very high-grade intersections, such as 202g/t Au over 1.9 m and 35.3g/t Au over 2 m. This drill program demonstrated continuity of the Shumagin Gold Zone at depth and along strike.

Redstar also owns 30% of the Newman Todd Gold project, in Red Lake, Ontario, Canada and 100% of 11 properties in Nevada. Newman Todd is a high-grade gold discovery along a 1.8 km corridor within the Newman Todd Structure (NTS). The gold mineralization in the NTS remains open along strike and at depth.

Jesse C. Grady, B.Sc, MSc, CPG-11592, is a Qualified Person as defined by NI 43-101. Mr. Grady has prepared and approved the technical information contained within this release.

On Behalf of the Board of Directors,

Ken Booth
Interim President & CEO

To additional information please contact:

Paul Durham, Investor Relations
T: 604.245.5861
TF: 877.310.3330
E: [email protected]

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.

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.

View News Release in PDF Format:

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Canada | Georgia | All
Gold and Silver Prices for these countries : Canada | Georgia | All

Redstar Gold Corp

EXPLORATION STAGE
CODE : RGC.V
ISIN : CA75773Q2080
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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.

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