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Message: Completes Stripping and Channel Sampling on Simkar Property
| January 26, 2009 | ||
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Megastar Completes Stripping and Channel Sampling on Simkar Property
New Gold-Copper Structure and Surface Copper Anomaly Identified |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2009) - Megastar Development Corporation (the "Company") (TSX VENTURE:MDV)(FRANKFURT:M5Q) is pleased to announce the results from the November 2008 stripping and channel sampling program on its SIMKAR Property near Val-d'Or, Quebec. Grab sample results taken in August 2008 returned assays up to 2.91g/t Au, 1.68% Cu and 18.6g/t Ag from a newly discovered quartz sulphide vein, in an area south of the historical mine. Additional grab samples defined an anomalous area of copper. A stripping and channel sampling program was designed to further investigate and follow up the gold-copper structure and the copper anomaly area. The program confirmed the North West extension of this new quartz-sulphide vein where another grab sample was taken about 10 meters from the original discovery and along the extension of the same quartz sulphide vein which returned values of 2.02 g/t Au, 0.729% Cu and 15.5g/t Ag (due to weather conditions it was impossible to execute a channel samplings on it). The stripping program also confirmed a 90m long by 40m wide surface Cu anomaly associated with a 1.5m wide rusty zone at the contact between felsic pyroclastic and felsic volcanic rocks. One channel sampling on this anomaly returned Au and Cu values up to 6.45g/t Au and 623 ppm Cu over 1.60 m along a massive sulphide vein. Other significant channel samplings of the Cu anomaly returned (complete results are shown in Annex 1): ------------------------------------------------ Sample # Cu (ppm) Au (g/t) Sample Width (m) ------------------------------------------------ 264208 660 0.319 grab ------------------------------------------------ 264209 576 0.068 grab ------------------------------------------------ 264211 132 traces grab ------------------------------------------------ 264232 287 0.23 1.00 ------------------------------------------------ 264236 104 0.06 1.00 ------------------------------------------------ 264237 174 1.54 1.00 ------------------------------------------------ 264238 678 0.81 1.30 ------------------------------------------------ 264239 142 0.18 0.80 ------------------------------------------------ 264240 268 0.11 grab ------------------------------------------------ 264244 354 0.26 1.00 ------------------------------------------------ 264245 248 0.08 1.60 ------------------------------------------------ 264246 623 6.45 1.60 ------------------------------------------------ 264247 291 0.42 1.00 ------------------------------------------------ 264249 595 0.01 1.40 ------------------------------------------------ "We are continuing to pursue opportunities on our SIMKAR Property and following up on the results of both the recently released NI 43-101 Resource Estimate and subsequent stripping and channel sampling program," said Megastar President and CEO, Dusan Berka. "The channel sampling program was designed to provide a first indication of bulk tonnage potential from these new structures. Current samplings suggest that through extensive diamond drilling, a near-surface bulk tonnage body could potentially be delineated." The stripping program was designed to extend and confirm the value obtained from the quartz-sulphide vein as well as to try to explain the copper anomalies samples taken in August 2008. The Simkar Project was supervised by Michel Proulx, P. Geo., M.Sc., Megastar's Val-d'Or based geologist and Qualified Person as defined under NI 43-101 guidelines, and working on both Simkar and Ralleau Properties near Quevillon, Quebec. ABOUT MEGASTAR DEVELOPMENT CORP. Megastar Development Corp. is an emerging resource company engaged in the acquisition, exploration and development of mineral properties in Canada. Megastar owns gold and base metal properties in Quebec and British Columbia, including the SIMKAR Gold Project in Val d'Or, Quebec for which a NI 43-101 compliant independent Technical Report concludes that the property is estimated to have a remaining (post-historic-mining) Inferred Resource of about 110,000 ounces, based on parameters appropriate for a reasonable underground mining scenario. For further information, investors and shareholders are invited to visit the Company's website at www.megastardevelopment.com or call the office at 604-683-6648. ON BEHALF OF THE BOARD OF DIRECTORS Dusan Berka, P. Eng., President & CEO ANNEX 1
Sample Results Table
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Sample No Au (g/t) Cu (ppm) Ag (g/t)
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264206 0.005 59 traces
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264207 2.91 16800 18.6
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264208 0.319 660
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264209 0.068 576
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264211 traces 132 traces
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264212 traces -
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264213 0.007 260 traces
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264221 0.016 89 -0.2
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264222 0.112 -
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264223 0.02 -
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264224 0.016 -
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264225 0.025 27 0.2
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264226 2.02 7290 15.5
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264227 10 traces
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264228 0.005 48 traces
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264229 traces -
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264230 0.01 -
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264231 traces -
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264232 0.229 287 0.7
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264233 0.122 -
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264234 0.122 -
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264235 0.303 -
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264236 0.06 104 traces
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264237 1.535 174 0.4
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264238 0.809 678 0.7
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264239 0.176 142 traces
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264240 0.107 268 0.2
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264241 0.06 -
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264242 0.014 -
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264243 0.12 -
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264244 0.259 354 0.4
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264245 0.075 248 0.2
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264246 6.45 623 1.3
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264247 0.423 291 1.3
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264248 0.147 -
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264249 0.013 595 0.5
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264250 0.019 -
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264251 0.23 -
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264252 - 1
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264253 0.098 -
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264254 0.388 -
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