Approximately $4.5M in the treasury with ZERO debt (as at July 1, 2017)
~60% controlled by the some of the top gold funds and investors in the world including:
Mount Everest Finance (LONDON),
Eric Sprott (CANADA),
US Global (USA),
Geologic Resource Partners (USA),
Odey Asset Mgmt (LONDON),
Gabelli Gold (USA).
Extensive infrastructure including mile long paved airstrip (daily flights from Anchorage), deep-water port, year round access, temperate climate noting 55th degree latitude.
Average temperature at the Unga Gold Project from Nov/16 to Jan/17 was warmer than Vancouver, BC., Canada.
Drill Results at the Shumagin Gold Zone:
1.9m of 202g/t Au & 82 g/t Ag, 7.3m of 11.8g/t Au & 72.7g/t Ag (incl. 2.0m of 35.3 g/t Au and 209 g/t Ag), 29.6m of 14.97 g/t Au; 3.2m of 33.26 g/t Au and 5.5m of 24.02 g/t Au.
Of the previous 65 drill holes drilled before the current drill program:
100% intersected gold mineralization
38% returned intersections over 15 g/t Au
25% over 25 g/t Au
12% over 50 g/t Au
12+ gold zones identified at the Unga Gold Project totalling an estimated 35-40 line-kilometers of vein systems within the district.
Industry Experts and Commentary:
Dr. Jeff Hedenquist, world renowned leading expert on Epithermal gold systems, provides positive report on Unga Gold Project in Summer 2016
Followed by newsletter writers:
Byron King (Jim Rickards Gold Speculator)
Jeb Handwerger (goldstocktrades.com)
Bob Moriarty (www.321gold.com)
John Kaiser (www.kaiserbottomfish.com)
Thibaut Lepouttre (www.caesarreport.com)
Gwen Preston (www.resourcemaven.ca)
Mining Analyst Mike Niehuser from Scarsdale Equities (NY, USA) completed Report and Buy Recommendation
Redstar’s President & CEO, Peter A. Ball, stated,“"With two drill rigs currently at site, and the camp in final stages of completion, our technical team has arrived back on site at the Unga Gold Project to initiate the Fall drill program. Drilling within the Shumagin Gold Zone has previously intersected multiple high grade gold intersections and with a strong treasury, the Shumagin Gold Zone is our priority heading into the 2017 Fall Exploration Program. In addition, we are finalizing our geological modeling of additional gold zones, such as the Rising Sun Gold Zone in the southern Apollo-Sitka Gold Trend, where we are planning to potentially execute a drill program on this exciting southern gold trend, which has not been drill tested in over 20 years.”
Review of the 2017 Spring Exploration Program:
Commencing in early April, the Company completed a ground-based geophysical program that successfully tested the geophysical responses associated with well-known geological features and high-grade gold mineralization located across the Shumagin Gold Zone. The orientation survey was completed to provide a geophysical fingerprint that was used to target additional structures to the southwest, and potentially across other known gold zones across the island.
Complete preliminary metallurgical work to test gold-silver bearing mineralization drilled across the Shumagin Gold Zone during 2016.
Execute a focused drill program, initially up to 5,000 meters, on step out drill holes to the southwest of the Shumagin Gold Zone. Additional drilling and other gold zones will be potentially tested based on current geological models.
Geological Highlights of the Shumagin Gold Zone and Trend:
The Shumagin Gold Zone is currently defined over a strike length of approximately 1.2 kms by surface mapping and sampling.
Geological mapping and sampling towards the southwest from Shumagin indicates a very strong expansion potential along strike for an additional three (3) kms towards Orange Mountain, the interpreted hydrothermal center along the Shumagin Trend.
The Shumagin Trend is approximately 9.5 kms long, and is a major regional structure responsible for the localization of epithermal mineralization and associated alteration exposed about its strike length.
Results from the 2016 fall drill program at the Shumagin Gold Zone, indicate that high-grade gold-silver mineralization occurs at depth for approximately 950 meters of tested strike length, is vertically extensive (to approximately 330 meter at depth), and remains open at depth across the entire strike length.
Drilling has identified the structure to ~1,350 meters in strike length, with assays pending.
Other Controlled Assets:
Controls ~19.5% of NV Gold Corp. (TSXV: NVX) and two board seats
Controls 30% of the high grade Newman Todd Gold Project in Red Lake, Ontario
Other Key Highlights and Facts on the Unga Gold Project:
Prioritized Asset: Unga Gold Project Alaska:
100% control of district-scale epithermal high-grade gold project
Remains open on trend and at depth with multiple drill ready targets across ~ 240 km2 property.
Shumagin, Apollo, Centennial, Orange Mountain, Zachary Bay, Amethyst, Aquila.
Two underexplored gold trends that are each ~10 kms long; numerous mineralized showings across each trend.
Focused on building high-grade gold resource and geological model.
Significant upside with numerous gold zones across property.
Geopolitically safe jurisdiction and extensive infrastructure.
Accessible daily by flights from Anchorage, Alaska.
Temperate climate with year round access and operation - 55th degree latitude.
Strong relationships with local Native Corporations.
Patented and State claims cover significant portion of current drill targets.
Host of Alaska's first underground mine with historically reported average mined grade of ~10 g/t gold and ~150,000 oz Au.
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