Redstar is in the process of planning a 2500 to 3000 meter, phase I diamond drill program on its West Red Lake properties in Ontario, held under option from Rubicon Minerals Corporation. The planned program will test gold mineralization discovered by Redstar at surface on the Biron Bay and Pipestone North properties. The program is planned to commence in mid January but is dependent on weather and ice formation. The budget for this program is anticipated to be $300,000 and forms part of Redstar's work commitments towards the Joint Venture Agreement announced on March 11, 2002.
Biron Bay Targets
Drilling on the Biron Bay property will focus on the Ledge showings where gold mineralization has been identified over a strike length of over one kilometre (see news release dated September 8th, 2003). In particular, a structure with gold grades up to 22.1 g/t gold over 0.50 metres has been traced in two stripped outcrops for a distance of over 350 metres.
Pipestone North Targets
Drilling on the Pipestone North property will focus on two areas. The 991 Zone is an area of intense alteration and extensive gold mineralization. Grab samples from quartz veins in the area assayed as high as 22.72 g/t gold. Structural mapping in 2003 indicated the mineralization is associated with a minor fold closure. Drilling will test the depth extent of the 991 Zone as well as a much larger fold closure to the east.
The phase one drill program is expected to run from mid January to early March and is designed to test the extent of gold mineralization at the Ledge and 991 zones as well as to help with the geological understanding of the area. Assuming successful results from this drilling program, a second phase of drilling will be completed.
Mr. Scott Weekes, President and CEO of Redstar, commented 'Our stripping, mapping and sampling programs have indicated the potential for significant gold mineralization related to quartz veining and structures on the Biron Bay ground and a folded felsic - ultramafic contact on the Pipestone North property. It will be the first time either of these targets have been drilled and represents a significant step in the advancement of our west Red Lake properties.'
Redstar is also pleased to announce the engagement of Strategic Investor Relations as of October 1, 2003. Strategic Investor Relations will represent the Company in an Investor Relations and Business Development capacity for a term of 6 months. The services are performed under a monthly retainer obligation of $5000 Cdn.
About Redstar Gold Corp.
Redstar Gold Corp. is a junior mining and exploration company with properties located in the prolific Red Lake Gold Camp in northwestern Ontario. The Company has built a significant land position in west Red Lake under an option agreement with Rubicon Minerals Corp. Redstar has focused on the west end of the Red Lake camp as it believes this area has been under explored and exhibits strong geological indicators for success. Aggressive exploration programs have begun on the most prospective ground. www.redstargold.com
On behalf of the Board, REDSTAR GOLD CORP.
Paddy Nicol, Director
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or the accuracy of this news release.
For further information: Strategic Investor Relations, (416) 366-0012 or 1-866-505-5035, floraw(at)strategic-investor.com