Redstar Gold Intersects Bonanza Gold Grades in Red Lake
12 September 2011 - 2:00PM
Marketwired
Redstar Gold Corp. (TSX VENTURE: RGC) is pleased to report
additional high-grade drill results from the on-going drilling
program at the Newman Todd property in the Red Lake Gold District,
Ontario. These results are from five holes, completed in wide
spaced drilling along the Newman Todd Structure ("NTS"), another 11
holes have been completed and assays are pending. The highlight
hole from the latest results returned 7.06 oz/ton (242.0 g/t) gold
over 0.50 metre.
Scott Weekes, President of Redstar, states: "These recent
results are confirming the high-grade gold potential of the Newman
Todd property which has geological similarities to Goldcorp's
world-class Red Lake Mine 20 kilometres to the southeast. 2011 has
been our most aggressive year of drilling at Newman Todd, and has
returned our most consistent and highest gold grades. We continue
to be impressed by strength of the gold system and its potential to
expand along strike and at depth. The project is being drilled with
two drills to aggressively expand this exciting Red Lake discovery
which could have a dramatic effect on the company's future
growth."
All holes completed to date in 2011 have intersected the Newman
Todd Structure, and several have returned multiple high-grade gold
intersections. Drilling in 2011 has intersected gold mineralization
over 1.2 km of the strike of the NTS. A plan map and long section
can be found on the Company's (www.redstargold.com) web site.
Highlights from the recently completed five holes:
Section 1375:
-- NT-070 intersected 69.70 g/t gold over 0.50m and
-- 10.40 g/t gold over 0.50m. in two zones
Section 1700:
-- NT-071 intersected 10.70 g/t gold over 1.0m and
-- 24.50 g/t gold over 0.5m
-- NT-072 intersected 24.10 g/t gold over 1.0m and
-- 11.00 g/t gold over 0.5m and
-- 31.10 g/t gold over 1.0m and
-- 13.70 g/t gold over 1.0m in four zones.
Section 2250
-- NT-073 intersected 242.0 g/t gold over 0.5m and
-- 10.20 g/t gold over 1.0m in two zones
Table of Significant Results
-----------------------------------------------------------
Gold Width
Hole From (m) To (m) (g/t) (m) Section
-----------------------------------------------------------
NT-069 305.00 306.00 2.68 1.00 1350
-----------------------------------------------------------
NT-069 and 318.00 319.00 2.05 1.00 1350
-----------------------------------------------------------
-----------------------------------------------------------
NT-070 393.50 394.00 10.40 0.50 1375
-----------------------------------------------------------
NT-070 and 412.00 413.00 4.29 1.00 1375
-----------------------------------------------------------
NT-070 and 438.50 439.00 69.70 0.50 1375
-----------------------------------------------------------
NT-070 and 450.00 451.00 4.95 1.00 1375
-----------------------------------------------------------
NT-070 and 470.00 471.00 5.04 1.00 1375
-----------------------------------------------------------
-----------------------------------------------------------
NT-071 28.00 29.00 4.94 1.00 1700
-----------------------------------------------------------
NT-071 and 62.00 72.50 1.25 10.50 1700
-----------------------------------------------------------
NT-071 including 70.00 70.50 7.16 0.50 1700
-----------------------------------------------------------
NT-071 and 138.00 139.00 10.70 1.00 1700
-----------------------------------------------------------
NT-071 and 151.00 151.50 8.88 0.50 1700
-----------------------------------------------------------
NT-071 and 177.00 178.00 12.86 1.00 1700
-----------------------------------------------------------
NT-071 including 177.50 178.00 24.50 0.50 1700
-----------------------------------------------------------
-----------------------------------------------------------
NT-072 8.00 9.00 24.10 1.00 1700
-----------------------------------------------------------
NT-072 and 137.00 138.50 8.19 1.50 1700
-----------------------------------------------------------
NT-072 and 144.00 147.00 2.60 3.00 1700
-----------------------------------------------------------
NT-072 including 145.50 146.00 11.00 0.50 1700
-----------------------------------------------------------
NT-072 and 163.00 191.00 1.13 28.00 1700
-----------------------------------------------------------
NT-072 including 182.00 183.50 5.20 1.50 1700
-----------------------------------------------------------
NT-072 and 208.00 209.00 4.78 1.00 1700
-----------------------------------------------------------
NT-072 230.00 239.00 1.42 9.00 1700
-----------------------------------------------------------
NT-072 and 241.00 242.00 31.10 1.00 1700
-----------------------------------------------------------
NT-072 and 251.00 258.00 2.42 7.00 1700
-----------------------------------------------------------
NT-072 including 253.00 254.00 13.70 1.00 1700
-----------------------------------------------------------
NT-072 and 270.00 271.00 4.06 1.00 1700
-----------------------------------------------------------
NT-072 and 294.00 296.00 4.24 2.00 1700
-----------------------------------------------------------
NT-072 and 295.00 296.00 7.36 1.00 1700
-----------------------------------------------------------
-----------------------------------------------------------
NT-073 132.00 133.00 3.91 1.00 2250
-----------------------------------------------------------
NT-073 and 161.50 162.00 242.00 0.50 2250
-----------------------------------------------------------
NT-073 and 166.00 170.00 2.89 4.00 2250
-----------------------------------------------------------
NT-073 including 166.00 167.00 5.61 1.00 2250
-----------------------------------------------------------
NT-073 and 242.00 244.00 4.51 2.00 2250
-----------------------------------------------------------
NT-073 and 255.00 256.00 10.20 1.00 2250
-----------------------------------------------------------
(i) Width is calculated as core length and does not imply true
width of the zone. Weighted average gold intervals apply a 0.25 g/t
lower cut-off. Internal dilution within reported intervals does not
exceed core lengths of two metres unless otherwise indicated.
(ii) Cross sections are spaced 25 metres apart across the entire
NTS, Section 1375 marks the centre of the Heath Bull Zone.
Discussion of Results
The Newman Todd Structure is a large scale hydrothermal
alteration and structural zone which is host to widespread gold
mineralization. The gold is believed to occur in discreet shoots or
lenses of silica/sulphide and magnetite replacement within the
structure. Widespread gold mineralization has been encountered
across the system as illustrated by drill hole NT-072, which
averaged 159.0 metres of 1.01 g/t gold (using no cutoff grade). The
latest results returned the deepest high-grade gold intercept yet
in the deposit with 69.7 g/t gold over 0.5 metres in hole NT-070 at
a vertical depth of approximately 400 metres. No drilling has been
done to depths exceeding 400 metres along the structure. Upcoming
drilling will continue to focus on expanding gold mineralization
along strike, and on following the system at depth.
Exploration work at the Newman Todd project is being funded by
Confederation Minerals Ltd. (Confederation). Confederation can earn
a 50% interest in the project by spending $5.0 million in
exploration by November 2013, and an additional 20% by producing a
Preliminary Economic Assessment (PEA) by November 2016.
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, for
analysis. 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.
Bob Singh P.geo is the qualified person as defined by National
Instrument 43-101 and has reviewed this news release. Mr. Singh has
been engaged through a third party service provider by
Confederation Minerals Ltd. to manage the project, and is also the
Canadian 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 Shumagin project in Alaska a drilling program is
currently being planned, 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, President
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.
Contacts: Redstar Gold Corp. - Corporate Inquiries Tim Mikula
Investor Relations 604.488.0051 604.488.0053 (FAX)
tmikula@redstargold.com www.redstargold.com
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