Montréal, Québec – October 13, 2020 – Goldstar Minerals Inc. (“Goldstar” or the “Corporation”) (TSX-V: GDM) is pleased to announce that it has retained the services of Geotech Ltd. to complete airborne geophysics on its Nemenjiche and Anctil properties in the Chibougamau area.
The Nemenjiche and Anctil properties are respectively approximately 15 km east and 50 km west of the Nelligan Project, where an inferred resource of 3.2 million ounces of gold (96,990,000 tonnes averaging 1.02 grams Au per tonne) was announced last October (NI 43-101 Technical Report and Initial Estimate for the Nelligan Project, Iamgold Inc., October 2019). Both properties lie on the Caopatina belt.
The airborne campaign is to fly approximately 550 line kilometers over each property for a total of 1,100 line kilometers. The survey will be helicopter borne VTEM and will include horizontal magnetic gradiometer. VTEM is a very useful and high-accuracy technology for mapping lateral and vertical variations in resistivity. Potential shear-hosted gold targets that are structurally controlled and marked by magnetic lows can be successfully identified by the horizontal magnetic gradiometer.
The results of the airborne survey will be combined with the new data that have been obtained by the prospecting campaign where several areas with outcrops containing sulfides have been identified.
David Crevier, CEO states “Our field exploration combined with the airborne survey data will allow us to optimize our efforts by combining the structural geological information with what we know in the field in order to define our next steps. This is an exciting time for Goldstar.”
The Corporation’s corporate presentation is available at the following link:
information contained in this news release has been reviewed and approved by
Benoit Moreau, P.Eng., a consultant of the Corporation. Mr. Moreau is a
qualified person as defined by National Instrument 43-101, Standards of
Disclosure for Mineral Projects.
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