Redstar Gold Corp. (TSX-V:RGC) (Redstar) announces the start of a diamond drill program on the Newman Todd project in Red Lake, Ontario. Redstar is currently earning a 100% interest in the Newman Todd project from AngloGold Ashanti North American Inc. (AngloGold Ashanti).
A total of 2000 metres of drilling is planned in this first phase of the 2006 drill program. The drill program will continue to explore the high grade gold intercepted in the 2005 drill program (69.02 g/t over 1.0 metres within a wider zone of 24.89 g/t over 3.0 metres). This high grade intercept was within 180 metres of surface and was the most northerly and deepest of four holes completed by Redstar in 2005. A new interpretation by Redstar's technical team indicates the presence of multiple, steeply dipping gold zones within an extensive breccia unit. A re-examination of historic data indicates the breccia zone can be traced along strike for at least 2.0 kilometres.
In addition to the program to follow up the high grade results from 2005, a number of additional targets will be tested. One untested high priority area on the Newman Todd property is the intersection of a folded ultramafic horizon with projected gold bearing structures that was intersected in the 2005 drilling. This is a very similar geological setting to the main gold deposits in the Red Lake camp which have produced over 20 million ounces of gold.
The Newman Todd project represents an under-explored project in the Red Lake camp that has returned high grade, near surface, gold values in drilling. Airborne geophysics and historic work indicates the project lies within an alteration zone that extends for over 5 kilometres and has many similarities to the main Red Lake deposits.
Scott Weekes, President of Redstar, states: "We are extremely excited about this second phase of drilling on the Newman Todd project. Near surface, high grade gold within an extensive area of alteration and brecciation highlights the potential of the project. Multiple gold zones, strong carbonate alteration and the proximity to folded ultramafic rocks are some of the similarities of the Newman Todd mineralization to that at the main producing mines (Goldcorp's Red Lake Mine and Placer Dome's Campbell Mine). The fact Redstar is earning a 100% interest in the project from AngloGold Ashanti gives Redstar a huge amount of flexibility in the continued advancement of the project."
Redstar Gold Corp., based in Vancouver, British Columbia, is a gold exploration company with projects in Canada and Nevada. Further details of the Company can be found at www.redstargold.com.
On Behalf of the Board,
Redstar Gold Corp