Vancouver, Canada - Redstar Gold Corp. (TSX.V:RGC) ("Redstar" or the "Company") announces that all eight drill holes of the 1,500 metre Phase-1 diamond drilling program successfully encountered Shumagin-style vein mineralization at expected depths. The program has thus far proved the continuity and expansion potential for the vein system, which continues to remain open at depth and along strike.
The drilling program targeted high-grade gold mineralization at the Shumagin Prospect, located on Redstar's 100% owned Unga Gold Project, Alaska.
The thirty-day program consisted of four drill pads constructed to facilitate drilling of two inclined holes per pad that ranged from 106 metres to 232 metres in total length. The Phase-1 program was designed to: 1) target various structural elevations of the Shumagin vein system ranging from sea level to -140 metres below sea level; and 2) test for continuity of existing known mineralization along strike approximately 100 metres to the Northeast.
The 2015 exploration program at the Unga Project includes a rigorous Quality Control/Quality Assurance program, overseen by Jesse C. Grady, Redstar's Vice President of Exploration. All drill core samples have been shipped to ALS Minerals for preparation and geochemical analysis. Assay results are expected over the next month.
Jesse C. Grady, MSc, CPG-11592, is a Qualified Person as defined by NI 43-101. Mr. Grady has prepared and approved the technical information contained within this release.
Unga Gold Project
The Shumagin Prospect is part of the Unga Gold Project, a district-scale gold-silver system, where localized high-grade mineralization is thought to be part of a larger, intrusive-related magmatic system(s) with the potential to yield additional exploration targets at depth and elsewhere within the Project Area.
A more extensive Phase-2 drill program expected to commence later in 2015 will maintain a focus on the Shumagin Prospect concurrent with exploration of other known high-grade gold targets located within the Unga Gold Project.
About Redstar Gold Corp
Redstar is a junior exploration company focused on high-grade gold exploration in North America. In Alaska, the Company is exploring the 100% owned high-grade Unga Gold Project which was initially acquired in 2011. The Unga Gold Project contains several high grade gold/silver vein systems, two of which, Apollo & Sitka were sites of historic high-grade gold production.
Redstar also owns 30% of the Newman Todd Gold project, in Red Lake, Ontario, Canada and 100% of 10 properties in Nevada. Newman Todd is a high-grade gold discovery along a 1.8 km corridor within the Newman Todd Structure (NTS). The gold mineralization in the NTS remains open along strike and at depth.
Redstar Gold Corporation (RGC: TSX.V)
Ken Booth, President and CEO
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Redstar Gold Corp.
Paul Durham, Investor Relations
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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 Corporation (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.