Redstar Gold Corp. (TSX.V:RGC) is pleased to announce drilling has commenced on its 100% owned Oasis project in Nevada. The drill program is being funded and supervised by Centerra (U.S.) Inc. (Centerra), a subsidiary of Centerra Gold Inc. (TSX: CG). Centerra can earn a 75% interest in the Oasis project by completing $4 million in work expenditures and paying $200,000 in cash to Redstar over five years.
Scott Weekes, president of Redstar states: "We are extremely pleased to have started the drill program at Oasis, where surface data collected continues to support a gold porphyry model for mineralization. Centerra has been very systematic and aggressive in their approach to exploration on the property, and the drill program underway will be a very good test of the size and tenor of the gold system. Nevada is one of the most productive gold mining regions in the world and attracts a lot of investor attention. Redstar currently has nine projects in Nevada in addition to Oasis and our Newman Todd project in Red Lake Ontario."
A total of 13 drill sites have been permitted over an area about one kilometer in diameter, with 4 step-out sites planned as well. Drilling will test the extent and grade of a gold-bearing alteration zone that returned surface samples up to 5.41 g/t gold. Drill target selection was aided by results of a surface exploration program, completed by Centerra that included geophysical surveys, soil geochemical sampling, geologic mapping and rock chip sampling.
Results of the drilling will be released when received by Redstar.
Dr. Jake Margolis is a qualified person as defined by National Instrument 43-101 and has reviewed this news release. Dr. Margolis is the US Exploration Manager for Redstar Gold Corp.
On Behalf of the Board,
Redstar Gold Corp
800 WEST PENDER STREET
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