Montréal, Québec – November 8, 2016 – Goldstar Minerals Inc. (“Goldstar” or the “Corporation”) (TSX-V: GDM) is pleased to announce that its first phase diamond drill program began with the mobilization of equipment and personnel on November 7, 2016. The contractor is currently drilling the first hole and the Corporation expects to receive its first core very shortly. Goldstar is focused on developing deposits that contain technology metals such as high-value tungsten, tellurium, antimony, tin and bismuth, in leading mining jurisdictions in Canada.
The Corporation has awarded the drilling contract to Lantech Drilling Services from Dieppe, New Brunswick. The objective is to drill a minimum of 2,000 and up to 3,000 metres, consisting of at least 8 holes. Goldstar is currently completing the wood cutting for drilling access and site preparation.
The Corporation expects to
release its first drilling results in December 2016.
Benoit Moreau, President and CEO of Goldstar comments: “The Corporation is very pleased to finally start this important drilling program after months of corporate efforts to secure the needed financing despite harsh market conditions. Detailed field work and recent data acquisition have yielded very important new information, allowing the determination of promising targets in areas that have never been tested in the past. Goldstar has also put up a strong and experienced geological team to oversee all aspects of this drilling program in order to optimize results for all our shareholders.”
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., CEO and director of the company. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For further information, please contact:
President and Chief Executive Officer
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This news release may contain forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements.