July 11th , 2016: Redstar Gold Corp. (TSX.V: RGC, US: RGCTF, FRA: RGG) ("Redstar" or the "Company") is pleased to announce it has completed an exploration program at its 100% controlled high-grade Unga Gold Project, Alaska.
The focus of the surface field program at the Unga Gold Project was to:
- Delineate additional new drill targets to expand known mineralization previously drilled at the Shumagin Prospect and along Empire Ridge, the SW extension of the historic Apollo-Sitka Mine, and;
- Complete an intense surface sampling and mapping program along the ~9 km long Shumagin Trend, including Orange Mountain to the southwest along strike of the Shumagin Prospect, to prove the continuity of the epithermal system and structures responsible for gold-silver veining and replacement bodies along its known strike length.
Approximatley 600 samples (272 soil/talus and 325 rock samples) were taken to cover exposed bodies of silicification at Orange Mountain, silicified and mineralized structures located between Orange Mountain and Shumagin, and exposures of multi-phase breccias and additional structures at the Shumagin Prospect. Assay results are pending.
Concurrent with Redstar's exploration program, site evaluations were completed by mining companies. The Company has additional corporate site visits planned for July and August.
Shumagin Gold Zone
The Shumagin prospect is characterized by multi-episodic gold-silver bearing quartz-adularia-rhodochrosite breccia bodies that occur within structurally controlled dilation zones along the >1,200-meter-long Shumagin Scarp. High-grade gold-silver mineralization is open at depth within the main breccia body at Shumagin. Multiple dilation zones and coincident gold-silver bearing breccia bodies exist along strike of the Shumagin Scarp and remain to be fully drill tested.
About The Unga Gold Project
The 100% controlled Unga Gold Project covers key strategic portions of adjacent Unga and Popof Islands, approximately 900 kilometers southwest of Anchorage, Alaska. Redstar controls a 240 square kilometer land package that is host to numerous structurally controlled, volcanic hosted intermediate-sulfidation epithermal high-grade vein, breccia, stockwork and disseminated gold-silver occurrences.
The Unga Project has excellent infrastructure, including direct daily flights from Anchorage, a deep-sea port and a temperate climate. The former Apollo-Sitka gold mine, located on the southern Apollo-Sitka Trend, was Alaska's first underground gold mine and the site of historic high-grade gold production.
Selected drill highlights from the Shumagin Gold Zone:
* Stated lengths are core width as drilled
Quality Control/Quality Assurance
The 2016 exploration program at the Unga Project includes a Quality Control/Quality Assurance (QA/QC) program, overseen by Jesse C. Grady, Redstar's Vice President of Exploration. All soil/talus/rock samples have been shipped to ALS Minerals for preparation and geochemical analysis.
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.
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% controlled high-grade Unga Gold Project. In Nevada, Redstar is currently seeking suitable partners to advance its portfolio of eleven (11) 100% owned properties located along and within many of the major gold producing trends. Redstar also owns 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada. Newman Todd is a high-grade gold discovery along a 1.8 km corridor within the Newman Todd Structure (NTS).
On Behalf of the Board of Directors,
Peter A. Ball, President and CEO
For additional information please contact:
Toll Free: 877.310.3330
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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.