6.0 meters grading 7.05 g/t gold including 1.0 meters grading 26.8 g/t gold, and 6.0 meters grading 5.05 g/t gold including 0.5 meters grading 43.9 g/t gold.
Vancouver, B.C. Redstar Gold Corp. (TSX.V: RGC): ("Redstar" or the "Company") is pleased to announce additional high-grade gold results from the 2013 diamond drill program at the Newman Todd property in Red Lake, Ontario. Six additional holes were drilled into the gold bearing structural zones termed the Newman Todd Structure ("NTS") see Figures 1&2 for hole location and a cross section interpretation.
- NT-155 intersects 6.0 metres of 7.05 g/t gold including 1.0 metre of 26.8 g/t gold and 6.0 metres of 5.05 g/t gold including 0.5 metre of 43.9 g/t gold
- NT-156 intersects 2.0 metres of 7.40 g/t gold including 1.0 metre of 11.6 g/t gold.
- NT-158 intersects 5.5 metres of 3.07 g/t gold including 0.5 metres of 19.30 g/t gold
Table of significant results:
|Hole ID||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
R. Bob Singh P.Geo, President of Redstar states: "Drilling at Newman Todd continues to intersect high grade gold mineralization across the entire property. With what has primarily been fairly shallow drilling, approximately 1.8 km of the zone has been tested, and all holes that have intersected the NTS have also intersected gold mineralization. There appears to be a wide spread gold mineralizing event at Newman Todd that extends from surface down to at least 850m vertical. In this type of environment it is expected that high grade mineralization will form distinct zones which can be traced and modeled. We look forward to continued results from this impressive new discovery."
Exploration work at the Newman Todd project is funded by the operator, Confederation Minerals Ltd. (TSX.V: CFM) ("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 an NI43-101 compliant 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.
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
Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Figure 1: Plan View of Property showing Drill Hole Locations
Figure 2: Cross Section 1475 Showing Geology and Assay Highlights