Highlights of Fall Drill Program:
- The Shumagin structure or panel of epithermal mineralization was expanded by 84% in 2017 to 1750m.
- All 13 holes holes intersected gold and silver mineralization.
- Drilling confirmed the continuity of mineralization between the “Main Breccia” and “Bunker Hill” gold zones.
- Drill hole 17SH042 intercepted an approximate 8.3m interval of mineralization, with the highest interval returning 4.33 g/t Au & 2.13 g/t Ag over 0.7m.
- Drill hole 17SH047 intercepted an approximate 16.3m interval mineralization, with the highest value returning 3.62 g/t Au & 10.2 g/t Ag over 0.5m, and showed strong resemblance to breccias previously drilled in 2015 within the Main Breccia such as drill hole 15SH012.
December 11, 2017: Redstar Gold Corp. (TSX.V: RGC, US: RGCTF, FRA: RGG) ("Redstar" or the "Company") today announces drill results from its 2017 Fall Drill Program, at the 100% controlled Unga Gold Project in Alaska. The program was comprised of thirteen (13) drill holes, totaling 2,641m, and was designed to test two target areas within the Shumagin Gold Zone (Bunker Hill and East Zone) and one area within the Rising Sun Gold Zone in the Apollo-Sitka Gold Trend.
“The 2017 Fall Drill program was primarily designed to further test the continuity of mineralization to the northeast within the Shumagin Gold Zone and enhance our geological model. Shumagin is a structurally complex high-grade epithermal system, as highlighted by high grade zones, or shoots to depth, and indicates continuity at shallow depths ranging from -240m to -330m below surface. The strong continuity of mineralization identified, and our updated geological model developed, will assist in vectoring future drilling for higher grade mineralization and widths at depth, as seen in previous drilling on the Main Breccia. We remain well capitalized, and in 2018 we will continue our exploration program at Shumagin, and look to further evaluate the additional 15+ known gold zones across the Unga district,” stated Peter A. Ball, President and CEO of Redstar Gold.
Shumagin Gold Zone
The Shumagin Gold Zone, previously with a known strike length of 350m as at the end of 2015, and 950m as at the end of 2016, now has shown continuity for approximately 1750m, an expansion of 84% over 2016. Each of the 11 holes drilled in the fall program at Shumagin intercepted gold and silver mineralization.
The Shumagin Gold Zone has four main areas, or zones of mineralization on the basis of location and geology (e.g. SW Extension, Main Breccia, Bunker Hill, & East Zone). During the 2017 fall drill program, eleven (11) drill holes totaling 2,407m were completed over approximately 750m of strike length targeting areas surrounding Bunker Hill and along strike northeast through East Zone.
An active gold-silver deposition was identified in multiple drill holes with colloform textures occuring in a geologic “boiling zone” at consistent elevations approximately -80m to -125m below sea level. Gold and silver mineralization is concentrated within the colloform textured carbonate-green clay breccia for approximately 600m along strike (e.g. grid line 2900E to 3500E) and remains open at depth and along strike for infill drilling and expansion (see long section Figure 1).
Areas of infill targeting boiling zones exist below the Main Breccia and along the SW Extension area. Further work is required to vector in on the higher grade mineralized zones, as previously drilled in 2011, 2015, and late 2016.
Eleven (11) drill holes were initiated on the Shumagin zone in this program, and the shallower “Shumagin-style breccia was intercepted in all drill holes and collectively indicates continuity of the mineralized system along the entire strike of the Shumagin Prospect for approximately 1,750m.
The colloform textures are indicative of active boiling and mineral deposition during hydrothermal activity within the vein system and indicate proximity to precious metal deposition zones that are commonly found in high-grade vein systems globally.
Continuity of mineralization occurs between the Main Breccia and Bunker Hill was indicated by drill hole 17SH042, which intercepted an approximate 8.3m interval of mineralization with the highest interval returning 4.33 g/t Au & 2.13 g/t Ag over 0.7m. Drill Hole 17SH047 intercepted an approximate 16.3m interval mineralization with the highest value returning 3.62 g/t Au & 10.2 g/t Ag over 0.5m, and showed strong resemblance to breccias previously drilled in 2015 within the Main Breccia such as drill hole 15SH012.
Rising Sun Prospect
The Rising Sun Prospect, located along the southeast portion of Unga Island, is part of the Apollo-Sitka trend, which is located approximately 3km to the south and parallel to the Shumagin trend. Rising Sun is a splay off of the main Apollo structure approximately 300m east of the Apollo open stope and consists of an approximate 25m wide outcropping multigenerational veins, vein breccias and stockwork identical in geology and sub-parallel to the Apollo Vein System.
Two (2) drill holes (17RS01 & 17RS02), totaling 233.9m, were completed at Rising Sun during the 2017 Fall Drill Program. These holes were designed to test breccias and stockwork at shallow (-60 to -80m) depths below surface exposures to constrain the dip and textures of the vein breccias and stockwork system.
Both drill holes encountered shallow intercepts (approximately 20m down hole) of Shumagin-style quartz-adularia-carbonate breccias and stockwork identical to those previously sampled in and around the Sitka Prospect. Narrow, 1.5m to 6.2m wide crustifrom to cockade textured breccias haloed by narrow QSP alteration and strong silicification occur cutting moderately propylitic altered basalt, andesite and hyloclasite flows. Drill hole 17RS01 intercepted 0.06 g/t Au & 17.3 g/t Ag over 1.0m. Deeper drilling along drill hole 17RS02 returned similar values with the highest values returning 0.289 g/t Au & 18.05 g/t Ag over 1.4m. Additional work is required to vector in to the higher grade zones, as seen at the historical Apollo-Sitka mine.
Complete assay results highlighting anomalous zones intercepted within each drill hole have been compiled and available on the website (www.redstargold.com).
Quality Control/Quality Assurance
The 2017 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 analytical geochemistry of core samples from the 2017 Shumagin drilling project have been reviewed for quality assurance and quality control. At this time no significant sample preparatory or analytical problem has been found and ALS Labs has performed well and within expected tolerances. All drill core samples were submitted to ALS labs Fairbanks, Alaska prep lab with subsequent analysis at ALS labs Reno, Nevada or Vancouver, BC facility. All core samples were submitted for prep using code PREP-31BY (Boyd crusher and rotary splitter; 1kg pulverized split) with analysis for gold using AA-24 (50g fire assay) and multi-elements by ME-MS61m (four acid digestion; ICP-MS; ICP-AES; Hg add-on).
Quality control is monitored by the insertion of blind certified reference standards and blanks into each sample shipment at a frequency of 1 control sample per 10 core samples. All samples are weighed prior to shipping. Sample weights were reviewed by comparing lab received weights against shipped weights collected by field personnel. Any inconsistencies would identify sample layout and sequence errors which could lead to miss-matched sample numbers and geochemistry. No errors were encountered.
All blanks inserted show no detectable gold. Blank material used is a gold barren Tertiary age basalt flow collected directly from a local quarry in Fairbanks, Alaska. Multi-element data for the blanks has been reviewed and measured values fall within range for most elements (an extensive database of analytical results for the blanks has been used to establish average values to compare against). All gold control standards have been reviewed and compared against their certified and published values. The standards all performed within thresholds as compared to the certified standard for gold. Thresholds for standards follow the same protocol used by ALS labs. Lab prepared duplicates (samples split in half after crushing as directed by the client) were reviewed and analytical results for gold and multi-elements compare very well.
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 The Unga Gold Project
The 100% controlled Unga Gold Project covers key strategic portions of adjacent Unga and Popof Islands, approximately 900 kms southwest of Anchorage, Alaska. Redstar controls a 240 square kms 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.
About Redstar Gold Corp
Redstar is well-financed junior exploration company, with a very strong, supportive institutional shareholder base, no debt, and is focused on high-grade gold exploration and advancing its high-grade Unga Gold Project in Alaska. The 100% controlled Unga Gold Project is an intermediate sulfidation epithermal high-grade gold project on a district scale, with the property encompassing approximately 240 km2, and containing multiple high grade gold zones drilled or identified at surface. 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 (~10 g/t Au) gold production. The Unga Gold Project has extensive infrastructure with daily flights from Anchorage landing on a one mile long paved airstrip and a deep-water port on neighboring Popof Island, and a moderate climate noting it resides at the 55th degree latitude and next to tidewater. In addition, Redstar owns approximately 18% of NV Gold Corp. (TSXV: NVX). Redstar also owns 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada.
On Behalf of the Board of Directors,
Peter A. Ball, President and CEO
For additional information please contact:
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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.
Selected Gold and Silver Assay Results
Shumagin Drillholes 17SH038 through 17SH048
Please Click Table for Complete Table of Results