Vancouver, B.C. Redstar Gold Corp. (TSX.V: RGC): ("Redstar" or the "Company") is pleased to announce final high-grade gold results from the 2013 winter diamond drill program at the Newman Todd property in Red Lake, Ontario.
The final two holes NT-149 and NT-150 were drilled on section 1600NW (see Figure 1). Both intersected high grade gold mineralization within the Newman Todd Structure ("NTS"). The NTS is a zone of intense iron-carbonate alteration with gold mineralization. The high grade gold mineralization is associated with silicification, sulphide and magnetite replacement of the iron-carbonate alteration. In addition to replacement style mineralization, recent drilling has identified lithologically controlled gold zones. Section 1975NW (Figure 2) highlights gold associated with a felsic volcanic unit termed "Fv1".
Drilling during the 2013 winter phase of drilling has focused on a 375 meter corridor within the NTS termed the Hinge Zone. The entire strike length of the drilled area of the NTS is approximately 1.8 km and this strike remains untested for an additional 400 metres to the south-west.
Highlights from final 2 holes: (see Table 1 for significant results)
- NT-149 intersects 1.0 metres of 17.86 g/t gold including 0.5 metres of 26.40 g/t gold
- NT-150 intersects 1.5 metres of 8.14 g/t gold including 0.5 metre of 12.80 g/t gold
Discussion of Results:
The 2013 winter drill program was successful in identifying some of the widest high grade zones drilled on the property to date (Hole NT-148 intersected 7.0 metres of 32.57 g/t gold). Drilling has also provided key geological information about distribution of high grade gold zones which will be used in on-going 3D modeling. The next phase of drilling will focus on testing the continuity of these gold zones in order establish a concrete high grade model.
R. Bob Singh P.Geo, President of Redstar states "The 2013 winter drilling program was successful in testing some of the key concepts with respect to the controls to gold mineralization in the NTS. Although we have previously identified lithologically controlled mineralization on the property, it has always been on a scale of several meters rather than the 10s of meters we see in section 1975. Continuing to drill for targets that aid in determining both controls to and orientations of the high grade gold will be crucial for the future advancement of the project."
Table 1: Significant Results
|HoleID||From (m)||To (m)||Width (m)||Au (g/t)|
* Width is calculated as core length and does not imply true width of the zone. Weighted average gold intervals apply a 0.20 g/t lower cut‐off. Internal dilution within reported intervals does not exceed core lengths of 3 metres unless otherwise indicated
Exploration work at the Newman Todd project is funded by the operator, Confederation Minerals Ltd. ("Confederation"). Pursuant to an option agreement with Redstar, Confederation can earn a 50% interest in the project by spending $5.0 million on exploration, paying Redstar a total of $250,000, and issuing Redstar 500,000 shares by November 2013. To date Confederation has spent in excess of $5.0 million on exploration on the project, paid Redstar $175,000 and issued Redstar 350,000 shares. Confederation can earn an additional 20% interest by producing a Preliminary Economic Assessment (PEA) by November 2016.
Andrea Diakow P.Geo is the qualified person as defined by National Instrument 43-101 and has reviewed the technical content related to the disclosed drill results in this news release. Core samples from the program were cut in half using a diamond cutting saw and were sent to Activation Laboratories Ltd. in Red Lake, Ontario, an accredited mineral analysis laboratory. All samples were analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold were analyzed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream as part of Confederation's quality control/quality assurance program.
Redstar has 11 gold projects in Nevada, the Unga project in Alaska and the Newman Todd project in the Red Lake District, Ontario. In Nevada, several projects are undergoing active exploration by partners including Newmont Mining and others. The Unga project in Alaska includes the high-grade Shumagin gold deposit, the Centennial disseminated bulk-tonnage gold deposit and the Apollo-Sitka high-grade gold vein system, which produced approximately 150,000 oz. of gold in the early 20th century.
On Behalf of the Board,
Redstar Gold Corp
"R. Bob Singh "
R. Bob Singh P.Geo
President & CEO
800 WEST PENDER STREET
Redstar Gold Corp.
Tim Mikula, Business Development
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