Vancouver, B.C., June 18, 2007: Redstar Gold Corp., (TSX-V:RGC), has upgraded the potential of its 100% owned projects, Richmond Summit and Dry Gulch, on the Carlin trend in Nevada based on results of recent exploration efforts. The Carlin trend is one of the most prominent gold mining regions in the world, with production from both high grade veins and low grade disseminated deposits. Redstar's Dry Gulch and Richmond Summit projects are both within six kilometres of mines with over 40 million ounces of gold production and reserves.
Scott Weekes, president of Redstar stated: "We are very encouraged by the potential for significant mineralization at our Richmond Summit and Dry Gulch projects, based on recent field work. Surface sampling at Richmond Summit has confirmed near surface gold mineralization at two locations on the claim block. Recent geophysical work at Dry Gulch has defined a favourable structural setting similar to the known gold deposits within the Carlin trend. Both of these projects represent a unique opportunity to test high priority targets within one of the most productive gold belts in the world."
Recently-completed field work at the Richmond Summit project has yielded surface assays to 1.74 ppm Au (0.051 opt) in the project's Main Zone. Previous work (prior to 1996) returned grades reaching 7.75 ppm Au from trenches in the Main Zone. Current exposures of the mineralization are limited due to a lack of outcrop and reclamation of the earlier trenching. Sampling in a second zone of mineralization 400 metres from the Main Zone returned values to 0.68 ppm Au (0.019 opt) and are an indication of the possible widespread nature of the gold mineralization at Richmond Summit.
The two square-mile project lies about 6 kilometres south of Newmont Mining Corporation's Carlin-Leeville gold mining operations and about 6 kilometres northwest of Newmont's Mike gold-copper deposit in the Gold Quarry district - these two areas contain approximately 40 million ounces of gold production and reserves/resources. With its position along the Carlin trend, Richmond Summit is in a favourable geologic setting for gold mineralization. It lies at the southern tip of the Lynn window, an area exposing carbonate (calcareous) rocks in the lower plate of the regional Roberts Mountains thrust fault; these rocks host most of the mineralization along the trend. Rocks exposed on the project are largely western-facies chert, shale, greenstone and limestone of the upper-plate of the Roberts Mountains thrust. However, mudstone and limestone of the lower-plate Rodeo Creek have been mapped in the northeast corner of the project and lower-plate limestone is exposed about 170 metres northeast of the project on lands controlled by Newmont.
Structurally, the project lies at a regional structural intersection between the southern extension of the northerly-trending Post fault zone and a northeast-striking fault zone. The project also contains numerous felsic dikes, which are strongly altered in places and weakly mineralized. The dikes are genetically linked to gold mineralization on the Carlin trend and have been a key indicator for gold mineralization.
Dry Gulch Project
Ground-based geophysical work completed in 2006 has helped define the structural setting of the Dry Gulch property. This data, coupled with proprietary geophysical data and remote sensing imagery indicate that the project area lies along a northwest-trending fault zone marking the continuation of ore-controlling structures in the northern Carlin trend. This fault zone is also parallel to a major ore-controlling structure in the Gold Quarry district, six kilomtres to the southwest. Northeast-trending structures have also been outlined on the project and are extensions of important ore-controlling faults at Gold Quarry (e.g., Deep Sulfide Feeder fault). It is the intersection of these northwest and northeast trending faults that control much of the gold mineralization within the Carlin trend.
Mapping within the project area has outlined thinly-bedded, carbonaceous silty limestones similar to units that host the productive gold systems of the Carlin trend. These units are surrounded by shales and thinly-bedded quartzites mapped as upper-plate rocks. Several miles northeast of the project, lower-plate carbonate rocks are exposed below limestone-rich upper-plate rocks similar to those at Dry Gulch. This indicates that the favourable lower-plate stratigraphy probably lies at shallow depths beneath the project area.
The Dry Gulch project is highlighted by a favourable structural setting and the right rocks within the Carlin trend. There has been no previous drilling within the project area. Permitting has been completed for a phase one drill program to test the intersection of northeast and northwest trending structures.
About Redstar Gold Corp.
Redstar Gold Corp. is a Vancouver-based company focused on gold exploration in Nevada and Red Lake, Ontario.
For more detailed information on Redstar's Nevada projects, as well as its gold projects in the Red Lake area, please visit the company's web site at www.redstargold.com.
On Behalf of the Board,
Redstar Gold Corp
Doug Fulcher Director
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release