Redstar Gold Corp. (RGC-TSXV) ("Redstar") is pleased to announce the final results from the Phase II diamond drill program on the Newman Todd property in Red Lake Ontario where it is earning a 100% interest from AngloGold Ashanti (USA) Exploration Ltd. A total of six holes were completed during this phase with results from the first four released on May 3rd, 2006. The program was successful in its two main objectives: to expand the high grade mineralization intersected in late 2005 and better define the geological controls to the high-grade gold mineralization.
The final two holes to be released (NT-037 and NT-038) were drilled on the same section as NT-032 (1.0 metre intersection grading 69.02 g/t gold within a 3.0 metre zone grading 24.84 g/t gold, drilled in 2005). Hole NT-032 was drilled to the west and holes NT-037 and NT-038 were drilled to the east. Hole NT-037 intersected numerous values greater than 1.0 g/t gold including 5.27 g/t gold over 1.0 metre approximately 50 metres up-dip from the high grade intercept in hole NT-032. These higher grade intercepts are hosted in an easterly dipping -- north striking, massive to semi-massive sulphide replacement zone including pyrite, pyrrhotite and magnetite. In addition, Redstar's technical staff has now identified west dipping, gold bearing structures which may be integral to localizing gold mineralization. Hole NT-038 intersected 6.20 g/t gold over 1.0 metre within one of these structures. The intersection of these structures with the sulphide replacement zone described above may be the key to localizing high-grade gold mineralization at Newman Todd.
All intercepts reported in this release are core length. Further work is needed to determine true widths.
The extensive breccia units intersected in drilling are strongly iron-carbonate altered and contain wide zones of lower grade gold mineralization. Several sub-parallel zones have now been identified on the property over a strike length of at least 1.0 kilometre, each with the potential to host high grade mineralization at depth. Redstar is currently planning an aggressive drill campaign to test mineralization below existing drilling.
High grade mineralization remains open at depth and along strike as none of Redstar's current holes tested the sulphide horizons below the intercept in hole NT-032.
Scott Weekes, President of Redstar, states: "Redstar's technical team now believes the breccia zone continues for over 1 kilometre in strike length and continues to host the potential for high grade mineralization. This latest phase of drilling was essential in helping to define some of the controlling features of the high-grade gold mineralization on the Newman Todd project. Sulphide replacement zones within the extensive breccia are now a priority target as they continue to host gold mineralization which appears to increase in grade with depth. Hole NT-036 intersected 1.0 metre of 16.35 g/t gold within a 2.0 metre zone grading 12.08 g/t gold. This intercept is over 850 metres away from the
main zone but the gold mineralization is associated with identical massive to semi-massive sulphide replacement mineralization. It is important to note that much of the high grade mineralization at Gold Corp's Red Lake Mine is associated with sulphide replacement zones."
Redstar is in the process of planning an aggressive exploration program for the Newman Todd project. A summer program of diamond drilling will continue to explore the extensive gold mineralized breccia system on the property. Drill targeting will rely heavily on the knowledge gained from the previous programs and will target sulphide replacement zones and west dipping structures at depth.
A table with all the phase II results and a drill plan map will be available on the Company's web site. ALS Chemex of Thunder Bay and Vancouver have completed all of Redstar's analytical work for this phase of drilling. A quality control program, using specific standards, duplicates and blank samples was utilized. Mr. Robert Darney, P. Geo is the qualified person who has reviewed this release.
On Behalf of the Board,
REDSTAR GOLD CORP.
Doug Fulcher, Director