Redstar Gold Corp (TSX-V:RGC) and International Tower Hill Mines (TSX-V:ITH) are pleased to announce results from drilling at the North Bullfrog Project in southwestern Nevada. Results from the final twelve holes completed on the Mayflower Deposit continue to expand the bulk tonnage potential of the area. Latest intersections include; 45.7 metres grading 0.92 g/t gold, 32 metres grading 0.81 g/t gold, and 12.2 metres grading 2.13 g/t gold. A total of 24 holes have been completed on the Mayflower Deposit, tracing the mineralization over a strike length of 600 metres and to a depth of 300 metres. The mineralization remains open along strike and at depth.
Scott Weeks, President of Redstar stated: "We are extremely encouraged by the results received to date on the North Bullfrog project. Drilling on the Mayflower Deposit confirms the presence of widespread, near surface gold mineralization centered on a structure we have followed for over 600 metres. The real potential of the North Bullfrog property lies in the potential to jointly develop multiple deposits. The drilling at Air Track Hill within the Sierra Blanca area, 3 kilometres north of Mayflower, intersected wide zones of gold mineralization within a much larger rock and soil gold anomaly. Future work will focus on defining and expanding on the gold mineralization outlined at Mayflower and Sierra Blanca as well as testing the other high priority targets on the property. ITH is in the process of completing a resource estimate for the Mayflower Deposit as well as planning further drilling at Mayflower and other target areas. Redstar continues to be extremely active in 2008. Gold Fields is initiating a trenching program on our two Carlin trend properties this month with drill programs planned once the trench results are received, and plans are underway to resume drilling on the high grade Newman Todd property in Red Lake."
Highlights from the final Mayflower drilling:
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* A Drill Plan map and a complete table of results can be seen at the Company's web site (www.redstargold.com)
Analysis of Mayflower Results:
The Mayflower gold mineralization is hosted in a steep 50-60 metre wide northwest trending fault zone. The zone consists of broad areas of low-grade mineralization in pervasive silicification that contain high-grade mineralization in quartz-calcite filled veins and fault breccias. Fine-grained visible gold is common in high-grade zones. The broad mineralized zones are primarily developed within favourable volcaniclastic units along the fault zone. The mineralization is low-sulphide in character with deep pervasive oxidation. The bulk-tonnage potential of the deposit is apparent in the broad continuous zones of mineralization found in many holes; 16 of the 24 holes drilled have greater than 20 metres of mineralization.
Dr. Jake Margolis, Redstar's U.S. exploration manager, stated: "The Mayflower deposit is quickly emerging as a significant mineralized system. We are working with ITH to develop a three-dimensional understanding of the mineralization so that we can continue to expand the resource at depth and along strike. The successes at Mayflower are providing a foundation to continue to explore the other mineralized areas of the project, including Air Track Hill at Sierra Blanca and the Jolly Jane area, where widespread low-grade mineralization may be marginal to high-grade fault-hosted veins yet to be discovered. The historic Pioneer Mine, where ITH intersected high-grade mineralization last year but completed only two drill holes, also has potential for development of a resource with both high-grade and low-grade mineralization similar to Mayflower."
The North Bullfrog Project covers approximately 17.6 square kilometres (6.8 square miles) of unpatented and leased patented claims about 10 kilometres (6 miles) north of the open-pit Bullfrog Mine, where Barrick Gold Corp. recovered about 2.3 million ounces of gold from 1989 to 1999. Mayflower is one of six areas of known gold mineralization within the Project. Work at North Bullfrog will continue to focus on defining a series of gold deposits which could be developed jointly. A map showing the target areas and broad soil and rock gold anomalies can be found on the company's web site (www.redstargold.com). The drilling was done by ITH, who can earn a 60% interest in the project by making expenditures of $4.0 million and can earn an additional 10% (for a total of 70%) by producing a feasibility report
ITH has retained an independent contractor to complete an initial NI 43-101 resource estimate for the Mayflower Deposit scheduled for completion later this year. ITH is also planning additional drilling in late 2008 to address expansions of the Mayflower deposit as well as test other targets in the district. Additional information regarding the North Bullfrog Project is available at the Company's website at www.redstargold.com.
The work program at North Bullfrog was designed and is supervised by Dr. Russell Myers, Vice President of Exploration, Talon Gold (US) LLC (a wholly owned subsidiary of ITH) and Dr. Jacob Margolis, Exploration Manager Redstar Gold Corporation who are responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project photograph the core from each individual borehole prior to preparing the split core. Duplicate RC samples are collected with one split sent for analysis. Representative chips are retained for geological logging. All sample shipments are sealed and shipped to ALS Chemex for assay. ALS Chemex's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Finally, representative blind duplicate samples are forwarded to ALS Chemex and an ISO compliant third party laboratory for additional quality control.
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
|Redstar Gold Corp..
|B&D Capital Partners
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