Redstar Gold Corp. (TSX VENTURE: RGC) is pleased to report
additional results from drilling at the Newman Todd property in the
Red Lake Gold District, Ontario. These latest results are from an
on-going drill program using two drill rigs, and include a
highlight hole that returned 1.0 metre of 58.88 g/t gold including
0.50 metre of 117.0 g/t gold.
Highlights:
-- Continue to intersect high-grade gold across the entire Newman Todd
Structure ("NTS")
-- Drilling in 2011 returns some of the highest grade gold values ever
returned from the NTS
-- From holes announced in 2011, 3 of 13 returned values greater than
100 g/t gold
-- The zone remains open along strike and at depth
-- Drilling to date has only tested to a vertical depth of approximately
400 metres
-- A total of 57 holes have been drilled into the NTS, of these 40 have
been released and all of them hit the NTS zone and encountered gold
mineralization
-- There are currently 17 holes in the lab with assays pending
Scott Weekes, President of Redstar Gold states: "We are very
pleased to continue to intersect high-grade gold from our on-going
drilling at the Newman Todd project. 2011 has been our most
aggressive drill program ever at Newman Todd and our most
successful. We continue to be impressed by the overall gold content
within the NTS as we continue to intersect gold over the entire two
kilometer strike of the structure. Our understanding of the high
grade zones has increased and we continue to demonstrate continuity
of the zones both along strike and down dip.
There are approximately 3000 metres of drilling remaining in the
current phase of work which is expected to be completed by the end
of September. Due to the success of the current drilling an
additional 10,000 metres of drilling is being planned to be
completed early in 2012."
Highlights from the recent results include Hole NT-067 which
returned multiple zones of high-grade gold. The first zone
contained 58.88 g/t gold over 1.0 meters, including 117.0 g/t gold
over 0.5m, in a previously untested area located approximately 175
metres northeast of the centre of the Heath Bull Zone. Previous
drilling in the Heath Bull Zone returned values up to 42.84 g/t
gold over 3.0 metres, including 122.0 g/t gold over 1.0m (see news
release dated March 14, 2011).
Highlights from recently completed drilling:
-- NT-064 intersected 8.25 g/t gold over 1.0 metre including 15.10 g/t gold
over 0.50 metre
-- NT-067 intersected 58.88 g/t gold over 1.0 metre including 117.0 g/t
gold over 0.50 metre and 2.08 g/t over 29.0 metres, including 5.98 g/t
over 5.0 metres, and including 19.30 g/t gold over 1.0 metre
-- NT-068 intersected 7.88 g.t gold over 1.0 metre including 14.30 g/t gold
over 0.50 metre
Table showing significant results for drill holes NT-064 to NT-068
---------------------------------------------------------------------------
From To Width(i) Gold Section
Hole (m) (m) (m) (g/t) (ii)
---------------------------------------------------------------------------
NT-064 84.50 85.50 1.00 8.25 1425
---------------------------------------------------------------------------
NT-064 incl. 85.00 85.50 0.50 15.10 1425
---------------------------------------------------------------------------
NT-064 and 302.00 303.00 1.00 3.59 1425
---------------------------------------------------------------------------
---------------------------------------------------------------------------
NT-065 295.00 297.00 2.00 3.21 1550
---------------------------------------------------------------------------
NT-065 incl. 296.50 297.00 0.50 6.93 1550
---------------------------------------------------------------------------
NT-065 362.00 364.00 2.00 4.38 1550
---------------------------------------------------------------------------
NT-065 incl. 362.00 363.00 1.00 6.91 1550
---------------------------------------------------------------------------
---------------------------------------------------------------------------
NT-066 and 361.50 365.00 3.50 2.55 1425
---------------------------------------------------------------------------
NT-066 incl. 361.50 362.00 0.50 6.85 1425
---------------------------------------------------------------------------
NT-066 and 364.50 365.00 0.50 7.33 1425
---------------------------------------------------------------------------
---------------------------------------------------------------------------
NT-067 164.00 165.00 1.00 58.88 1550
---------------------------------------------------------------------------
NT-067 incl. 164.00 164.50 0.50 117.00 1550
---------------------------------------------------------------------------
NT-067 incl. 164.50 165.00 0.50 0.76 1550
---------------------------------------------------------------------------
NT-067 and 175.00 176.00 1.00 5.56 1550
---------------------------------------------------------------------------
NT-067 incl. 175.50 176.00 0.50 9.70 1550
---------------------------------------------------------------------------
NT-067 292.00 321.00 29.00(iii) 2.08 1550
---------------------------------------------------------------------------
NT-067 incl. 292.00 296.00 4.00 3.20 1550
---------------------------------------------------------------------------
NT-067 and incl. 294.00 295.50 1.50 6.66 1550
---------------------------------------------------------------------------
NT-067 and incl. 294.00 294.50 0.50 8.00 1550
---------------------------------------------------------------------------
NT-067 and incl. 295.00 295.50 0.50 9.39 1550
---------------------------------------------------------------------------
NT-067 and incl. 300.50 301.00 0.50 5.32 1550
---------------------------------------------------------------------------
NT-067 and incl. 316.00 321.00 5.00 5.98 1550
---------------------------------------------------------------------------
NT-067 and incl. 317.00 321.00 4.00 7.34 1550
---------------------------------------------------------------------------
NT-067 and incl. 317.00 318.00 1.00 19.30 1550
---------------------------------------------------------------------------
NT-067 and incl. 320.00 321.00 1.00 8.63 1550
---------------------------------------------------------------------------
NT-067 and incl. 320.50 321.00 0.50 11.30 1550
---------------------------------------------------------------------------
NT-067 and 324.00 325.00 1.00 4.08 1550
---------------------------------------------------------------------------
NT-067 and 405.50 406.50 1.00 3.76 1550
---------------------------------------------------------------------------
NT-067 incl. 406.00 406.50 0.50 5.91 1550
---------------------------------------------------------------------------
---------------------------------------------------------------------------
NT-068 202.00 203.00 1.00 7.88 1325
---------------------------------------------------------------------------
NT-068 incl. 202.00 202.50 0.50 14.30 1325
---------------------------------------------------------------------------
(i) Width is calculated as core length and does not imply true width of
the zone. Weighted average gold intervals apply a 0.25 g/t lower
cut-off. Internal dilution within reported intervals does not exceed
core lengths of two metres unless otherwise indicated.
(ii) Cross sections are spaced 25 metres apart across the entire NTS,
Section 1375 marks the centre of the Heath Bull Zone.
(iii) includes 5.0 metres of 0.12 g/t gold internal dilution.
The current work program includes 12,000 metres of drilling
using two drill rigs, to date a total of 23 holes have been
completed during this phase. Two holes were recently announced (see
news release dated June 20, 2011) and this release reports on an
additional five holes within the southwestern part of the Newman
Todd Structure ("NTS"). There are currently 17 completed holes in
the lab awaiting analysis, all of which have intersected the
NTS.
Discussion of Results
Holes NT-065 and NT-067 were drilled on Section 1550, which is
approximately 175 metres northeast of the center of the Heath Bull
Zone. This section is approximately 200 metres southwest of the
Hinge Zone, and remains open in both directions along strike and at
depth. The geological characteristic of the mineralization in these
holes is similar to other gold bearing intercepts across the
property, reinforcing the predictability of high-grade gold within
the NTS. At present, gold mineralization has been identified in
silicified zones, sulphide and magnetite replacement zones, near
lithological contacts and within quartz veins. Technical crews have
been able to identify several field relationships which may assist
with identifying gold bearing structures and zones which will
assist with drill hole targeting. The following features are
recognized:
-- Wide spread deformation within the NTS (brecciation, hydrothermal
alteration, faulting and folding
-- Wide spread Iron-Magnesium carbonate alteration (recognized in the Red
Lake district as an early stage alteration preceding the major gold
events)
-- Multi-stage gold mineralization associated with hydrothermal events
(silicification, sulphide / magnetite replacement, quartz veining,
rheology (lithogical relationships)
-- Faulting and folding to further concentrate gold mineralization into
high-grade corridors
Exploration work at the Newman Todd project is being funded by
Confederation Minerals Ltd. (Confederation) (TSX VENTURE: CFM).
Confederation can earn a 50% interest in the project by spending
$5.0 million in exploration by November 2013, and an additional 20%
by producing a Preliminary Economic Assessment (PEA) by November
2016.
Core samples from the program were cut in half, using a diamond
cutting saw, and were sent to Activation Laboratories Ltd. in Red
Lake, Ontario, an accredited mineral analysis laboratory, for
analysis. All samples were analyzed for gold using standard Fire
Assay-AA techniques. Samples returning over 3.0 g/t gold were
analyzed utilizing standard Fire Assay-Gravimetric methods.
Certified gold reference standards, blanks and field duplicates
were routinely inserted into the sample stream, as part of
Confederation's quality control/quality assurance program.
Bob Singh, P.Geo., is the qualified person as defined by
National Instrument 43-101 and has reviewed this news release. Mr.
Singh has been engaged through a third party service provider by
Confederation Minerals Ltd. to manage the project, and is also the
Canadian Exploration Manager for Redstar Gold Corp.
About Redstar Gold Corp.
Redstar recently acquired a high-grade epithermal gold district
in Alaska that is a good complement to the high-grade gold
discovery in Red Lake, Ontario. The Shumagin project in Alaska,
includes a high-grade gold deposit with a non 43-101 compliant
resource, a bulk tonnage non 43-101 compliant resource, a historic
high-grade gold mine, and numerous high priority exploration
targets. At the Shumagin project in Alaska a drilling program is
currently being planned, and an aggressive drill program is
underway on Redstar's high-grade gold discovery at the Newman-Todd
project in Red Lake, Ontario. Along with the high-grade gold
projects in Alaska and Red Lake, the company also has a total of 14
gold focused projects in Nevada.
On Behalf of the Board,
Redstar Gold Corp.
Scott Weekes, President
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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Redstar Gold Corp. Tim Mikula Investor Relations
604.488.0051 604.488.0053 (FAX) tmikula@redstargold.com
www.redstargold.com
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