Montréal, Québec – November 29, 2019 – Goldstar Minerals Inc. (“Goldstar” or the “Corporation”) (TSX-V: GDM) is pleased to announce that drilling results from the first seven (7) holes of its third phase diamond drilling program completed last October on its Lake George Property, located in New Brunswick, Canada, have been received and compiled. Final results from the remaining three (3) holes are expected to be disclosed by mid-December 2019.
Potential Intrusion-Related Gold System (“IRGS”) environment, suggesting the presence of granodiorite intrusions nearby.
Hole LG-19-07 was drilled to a depth of 375 metres and encountered a wide zone approximately 150 metres wide starting at 150 downhole. The zone had anomalous gold, copper, bismuth and tellurium within metasediments. Although no granodiorite was intersected, these results suggest that an intrusion could be present nearby.
Hole LG-19-08, which is located 500 metres northwest of hole LG-19-07, and, was drilled to a depth of 241 metres, intersected a 8.3 metre wide granodiorite dyke between 155 and 163 metres. This dyke is altered and mineralized with disseminated sulfides throughout the 8.3 metre interval.
Both holes LG-19-07 and LG-19-08 suggest that a granodiorite intrusion may be located nearby, thus requiring additional diamond drilling. No granodiorite was intersected in the other holes.
Several gold values were
intersected within metasediments as follows:
- LG-19-07: Ten (10) scattered gold values over 0.1 g/t were intersected, including 0.42 g/t over 2 metres, 0.22 g/t over 3 metres, 0.45 g/t over 1 metre and 0.44 g/t over 1 metre. Most gold values are strongly associated with increased copper, bismuth and tellurium;
- LG-19-03: A gold
value of 0.98 g/t was intersected near the bottom of the hole.
With the exception of a few scattered values, no tungsten was intersected in these first 7 holes.
However, the remaining 3 holes from LG-19-08 to LG-19-10 intersected wide and strongly mineralized intervals, containing sulfides and scheelite (the main tungsten bearing mineral at Lake George) that can be easily detected by an UV lamp. Again, Goldstar expects the remaining assays by mid-December 2019 that could confirm the extent of possible gold and tungsten mineralization.
Tungsten assays were performed at Agat Laboratories located in Mississauga, Ontario using sodium peroxide fusion followed by an ICP finish. Standards and blanks were inserted in every 25 samples.
The Corporation will report the final remaining assays by mid-December, 2019 and will then determine the appropriate exploration strategy to follow up on these results.
Benoit Moreau, President and CEO of Goldstar comments: “These results showed that the Corporation was able to further constrain the area where a granodiorite intrusion could be intersected. The geological team has taken and recorded extensive structural measurements during the course of this drilling program that could help finding granodiorite intrusions and understanding possible associated gold mineralization.”
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng.,CEO and director of the Corporation. 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
Vice-President of Corporate Development
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