Montréal, Québec – May 3, 2017 – Goldstar Minerals Inc. (“Goldstar” or the “Company”) (TSX-V: GDM) is pleased to announce thatthe Company has proceeded with the staking of 1,248 claims, through the Quebec government’s Gestim system. These new claims are 100% owned, have no royalty attached, and represent approximately 68,640 hectares or 686.4 km2.
The Assinica Gold Property consists of an almost continuous claim group that stretches over a distance of more than 100 kilometres, oriented East-West, from the Chibougamau area to the east of Matagami, Quebec. Most claims are part of one of the last remaining known Abitibi greenstone belts that was available for staking and which is still vastly underexplored.The Assinica Gold Property is relatively close to existing infrastructure through a series of forestry roads that would provide year-round access and allow for reasonable exploration costs.
Goldstar is essentially targeting the volcanics-sediments contact that has yielded prolific gold production through the years in the Abitibi greenstone belts with the objective of discovering a large open-pitable deposit. Based on preliminary compilation work, the Company has already identified new promising gold areas, within the recently staked claim group.
The Company will continue its review and compilation of all available data pertaining to the Assinica Gold Property. Goldstar intends to design an exploration program to advance the project to the drilling stage over the coming years.
Benoit Moreau, President and CEO of the Company comments: “The acquisition of this very large property bodes well for Goldstar’s future. The opportunity to establish a significant position on a 100 km contact in one of the world’s most prolific Archean greenstone belts at this point in the exploration cycle should be rewarding for our shareholders in the coming years. The Company intends to pursue this opportunity for discovering new gold mineralization with an innovative exploration program beginning with compilation and geophysics.”
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., CEO and director of Goldstar. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Goldstar is focused on developing deposits that contain gold and technology metals such as high-value tungsten and tin, in leading mining jurisdictions in Canada.
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President and Chief Executive Officer
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This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.