News Out!!!!!!!! Nevada
posted on
Apr 14, 2008 05:32AM
Focused on Red Lake, Alaska and Nevada
08:01 EDT Monday, April 14, 2008
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2008) - Redstar Gold Corp. (TSX VENTURE:RGC) and International Tower Hill Mines are pleased to announce initial results from drilling at the North Bullfrog Project in southwestern Nevada. Drilling on the Mayflower target has returned broad zones with significant gold mineralization, including 51.8 metres grading 2.02 g/t gold (including 9.1 m grading 7.18 g/t) and 29 metres grading 1.70 g/t gold (including 15.2 m grading 2.87 g/t). These two intervals contain high-grade cores of 1.52 m grading 22.90 g/t and 14.20 g/t, respectively.
Scott Weekes, President of Redstar, stated: "We are very pleased with the results of our first drill program at Mayflower and the initial results indicate the potential to develop a significant, near surface bulk-tonnage resource. A total of six high priority target areas have been identified on the North Bullfrog property and the results to date indicate the potential for the development of a series of deposits within this extensive gold system. At Mayflower, broad, steeply dipping zones of gold mineralization near surface highlight the potential to develop an open pit, bulk tonnage resource. Our partners, International Tower Hill Mines, have taken a very aggressive approach to exploration on the North Bullfrog property and have completed approximately half of the work commitment required to earn their initial 60% interest. Gold Fields has begun work on our two Carlin Trend properties and details of the programs will be announced shortly. The new discovery at North Bullfrog and the joint venture with Gold Fields are important milestones for our Nevada gold exploration goals."
North Bullfrog 2008 Highlights: ------------------------------------------------------------------ ------------------------------------------------------------------ Hole Number From (m) To (m) Intercept (m) Gold (g/t) ------------------------------------------------------------------ ------------------------------------------------------------------ NB-08-07 44.2 51.8 7.6 0.80 ------------------------------------------------------------------ ------------------------------------------------------------------ NB-08-09 100.6 103.6 3.0 0.73 --------------------------------------------------- 112.8 118.9 6.1 0.58 ------------------------------------------------------------------ ------------------------------------------------------------------ NB-08-10 65.5 117.4 51.8 2.02 --------------------------------------------------- includes 83.8 85.3 1.5 22.9 ------------------------------------------------------------------ ------------------------------------------------------------------ NB-08-11 106.7 109.7 3.1 1.24 --------------------------------------------------- 111.3 122.0 10.7 0.91 --------------------------------------------------- 131.1 137.2 6.1 0.79 ------------------------------------------------------------------ ------------------------------------------------------------------ NB-08-12 70.1 77.7 7.6 0.88 --------------------------------------------------- 83.8 112.8 29.0 1.79 --------------------------------------------------- includes 97.5 99.1 1.6 14.2 ------------------------------------------------------------------ ------------------------------------------------------------------ NB-08-14 157.0 169.2 12.2 1.06 --------------------------------------------------- 178.3 204.2 25.9 0.75 ------------------------------------------------------------------ ------------------------------------------------------------------ NB-08-15 77.7 102.1 24.4 0.87 ------------------------------------------------------------------ ------------------------------------------------------------------ NB-08-16 99.1 103.6 4.6 1.53 ------------------------------------------------------------------ ------------------------------------------------------------------ NB-08-17 85.3 99.1 13.8 0.90 --------------------------------------------------- includes 91.4 96.0 4.6 1.90 ------------------------------------------------------------------ ------------------------------------------------------------------ NB-08-18 89.9 102.1 12.2 1.16 ------------------------------------------------------------------ ------------------------------------------------------------------
Dr. Jacob Margolis, U.S. Exploration Manager for Redstar, states: "The excellent results on the Mayflower vein system are certainly demonstrating the potential to yield a new Nevada gold resource. This is only 1 of 6 distinct mineralized areas in the large North Bullfrog project, and we are hopeful that other targets will also yield encouraging results. Preliminary work by our joint-venture partner, ITH, indicates that certain units within the volcanic sequence may be preferential hosts to thicker mineralized zones at Mayflower, and we need to continue to follow these ideas. Once all the data from the drilling program are compiled, we look forward to working with ITH in continuing to advance the Mayflower target."
The 2008 drilling program completed 8,422 metres of reverse-circulation drilling in 35 holes. Twenty-four holes totaling 5,953 m have been completed at the Mayflower target, with 11 holes completed at the Air Track Hill target about 3.5 km northwest of Mayflower. Assays have been received for the first 12 Mayflower holes (Table 1). Assays when received from Air Track Hill will be reviewed and announced in the near future.
Results were affected by poor recoveries in a number of holes including holes 7, 8 and 16 that intersected old mine workings and therefore did not test the high grade Mayflower structure. Poor recoveries in hole 11 adjacent to mineralized intervals may have adversely effected the results. The attached section shows the orientation of the drilling and mineralized zone and highlights the near surface open pit potential of the Mayflower system (a high resolution version will be available on Redstar's web site - www.redstargold.com).
To view the attached section, please click on the following link: http://media3.marketwire.com/docs/rg...
The results to date demonstrate the potential for development of a bulk tonnage near surface resource along the Mayflower vein system cored by higher grades (greater than 3 g/t) in a stockwork of steeply-dipping quartz-calcite veins with a broad halo of lower-grade replacement zones. Gold mineralization has been traced historically over 700 m of strike and to 200 m below surface and remains open along strike and at depth. The 2008 drilling program tests the Mayflower system over a strike length of 850 m to a maximum depth of 330 m. The bulk of the vein system is tested to only 150 m below surface. Once assays for all 24 holes are received, work will commence on assessing Mayflower's resource potential and advancing an understanding of the geologic controls to grade distribution. ITH is planning additional drilling in 2008 at Mayflower and other district targets.
The North Bullfrog Project is a joint venture with International Tower Hill Mines Ltd. (ITH) in which ITH can earn up to a 70% interest in the project under terms announced in March, 2007. The Project covers approximately 13.5 square km (5.2 square miles) of unpatented and leased patented claims about 10 km (6 miles) north of the open-pit Bullfrog Mine, where Barrick Gold Corporation recovered about 2.3 Moz of gold from 1989 to 1999.
The work program at North Bullfrog was designed by Dr. Jacob Margolis, U.S. Exploration Manager for Redstar Gold Corp., and designed and supervised by Dr. Russell Myers, Vice President of Exploration, Talon Gold (US) LLC (a wholly owned subsidiary of ITH responsible for carrying out the Company's exploration programs). Dr. Myers is responsible for the quality control/quality assurance program. Assays reported here are by ALS Chemex, whose quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Finally, representative blind duplicate samples are forwarded to ALS Chemex and an ISO compliant third party laboratory for additional quality control.
On Behalf of the Board,
Redstar Gold Corp.
Doug Fulcher, Director
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
Table 1. Mayflower Assay Results -------------------------------------------------------------------- -------------------------------------------------------------------- From To Int opt From To Int g/t Hole ft ft ft Au m m m Au -------------------------------------------------------------------- -------------------------------------------------------------------- NB-08-07 145 170 25 0.023 44.20 51.82 7.62 0.80 -------------------------------------------------------------------- 195 210 15 0.009 59.44 64.01 4.57 0.31 -------------------------------------------------------------------- 235 255 20 0.009 71.63 77.72 6.09 0.32 -------------------------------------------------------------------- 300 315 15 0.012 91.44 96.01 4.57 0.41 -------------------------------------------------------------------- -------------------------------------------------------------------- NB-08-08 140 145 5 0.009 42.67 44.20 1.53 0.32 -------------------------------------------------------------------- 255 265 10 0.013 77.72 80.77 3.05 0.44 -------------------------------------------------------------------- 335 340 5 0.015 102.11 103.63 1.52 0.53 -------------------------------------------------------------------- 380 390 10 0.012 115.82 118.87 3.05 0.395 -------------------------------------------------------------------- 395 410 15 0.010 120.40 124.97 4.57 0.34 -------------------------------------------------------------------- 470 475 5 0.011 143.26 144.78 1.52 0.37 -------------------------------------------------------------------- -------------------------------------------------------------------- NB-08-09 315 320 5 0.070 96.01 97.54 1.53 2.40 -------------------------------------------------------------------- 330 340 10 0.021 100.58 103.63 3.05 0.73 -------------------------------------------------------------------- 355 365 10 0.012 108.20 111.25 3.05 0.43 -------------------------------------------------------------------- 370 390 20 0.017 112.78 118.87 6.09 0.58 -------------------------------------------------------------------- -------------------------------------------------------------------- NB-08-10 175 180 5 0.022 53.34 54.86 1.52 0.75 -------------------------------------------------------------------- 215 385 170 0.059 65.53 117.35 51.82 2.02 -------------------------------------------------------------------- including 275 305 30 0.209 83.82 92.96 9.14 7.18 -------------------------------------------------------------------- including 275 280 5 0.668 83.82 85.34 1.52 22.90 -------------------------------------------------------------------- 535 540 5 0.011 163.07 164.59 1.52 0.38 -------------------------------------------------------------------- -------------------------------------------------------------------- NB-08-11 30 40 10 0.011 9.14 12.19 3.05 0.36 -------------------------------------------------------------------- 55 60 5 0.011 16.76 18.29 1.53 0.37 -------------------------------------------------------------------- 65 80 15 0.010 19.81 24.38 4.57 0.35 -------------------------------------------------------------------- (i) 290 295 5 0.008 88.39 89.92 1.53 0.26 -------------------------------------------------------------------- (i) 350 360 10 0.036 106.68 109.73 3.05 1.24 -------------------------------------------------------------------- (i) 365 400 35 0.027 111.25 121.92 10.67 0.91 -------------------------------------------------------------------- (i) 405 410 5 0.015 123.44 124.97 1.53 0.51 -------------------------------------------------------------------- (i) 414 425 11 0.021 126.19 129.54 3.35 0.72 -------------------------------------------------------------------- (i) 430 450 20 0.023 131.06 137.16 6.10 0.79 -------------------------------------------------------------------- -------------------------------------------------------------------- NB-08-12 135 145 10 0.009 41.15 44.20 3.05 0.31 -------------------------------------------------------------------- 160 170 10 0.008 48.77 51.82 3.05 0.29 -------------------------------------------------------------------- 175 180 5 0.016 53.34 54.86 1.52 0.55 -------------------------------------------------------------------- 195 205 10 0.012 59.44 62.48 3.04 0.39 -------------------------------------------------------------------- 230 240 10 0.056 70.10 73.15 3.05 1.90 -------------------------------------------------------------------- 250 255 5 0.008 76.20 77.72 1.52 0.26 -------------------------------------------------------------------- 265 270 5 0.009 80.77 82.30 1.53 0.31 -------------------------------------------------------------------- 275 370 95 0.052 83.82 112.78 28.96 1.79 -------------------------------------------------------------------- including 290 340 50 0.084 88.39 103.63 15.24 2.87 -------------------------------------------------------------------- including 320 325 5 0.414 97.54 99.06 1.52 14.20 -------------------------------------------------------------------- 375 390 15 0.009 114.30 118.87 4.57 0.31 -------------------------------------------------------------------- -------------------------------------------------------------------- NB-08-13 0 5 5 0.038 0.00 1.52 1.52 1.30 -------------------------------------------------------------------- 10 30 20 0.012 3.05 9.14 6.09 0.43 -------------------------------------------------------------------- 900 905 5 0.022 274.32 275.84 1.52 0.77 -------------------------------------------------------------------- -------------------------------------------------------------------- NB-08-14 390 395 5 0.011 118.87 120.40 1.53 0.37 -------------------------------------------------------------------- 515 555 40 0.031 156.97 169.16 12.19 1.06 -------------------------------------------------------------------- 585 670 85 0.022 178.31 204.22 25.91 0.75 -------------------------------------------------------------------- 695 700 5 0.012 211.84 213.36 1.52 0.40 -------------------------------------------------------------------- -------------------------------------------------------------------- NB-08-15 255 335 80 0.025 77.72 102.11 24.39 0.87 -------------------------------------------------------------------- 340 345 5 0.008 103.63 105.16 1.52 0.29 -------------------------------------------------------------------- 425 430 5 0.008 129.54 131.06 1.52 0.26 -------------------------------------------------------------------- 700 705 5 0.018 213.36 214.88 1.52 0.62 -------------------------------------------------------------------- 865 870 5 0.011 263.65 265.18 1.53 0.38 -------------------------------------------------------------------- 940 950 10 0.011 286.51 289.56 3.05 0.39 -------------------------------------------------------------------- 990 995 5 0.008 301.75 303.28 1.53 0.26 -------------------------------------------------------------------- -------------------------------------------------------------------- NB-08-16 130 140 10 0.008 39.62 42.67 3.05 0.28 -------------------------------------------------------------------- 145 155 10 0.009 44.20 47.24 3.04 0.30 -------------------------------------------------------------------- 205 215 10 0.017 62.48 65.53 3.05 0.58 -------------------------------------------------------------------- 225 230 5 0.008 68.58 70.10 1.52 0.28 -------------------------------------------------------------------- (i) 260 265 5 0.012 79.25 80.77 1.52 0.40 -------------------------------------------------------------------- 325 340 15 0.045 99.06 103.63 4.57 1.53 -------------------------------------------------------------------- -------------------------------------------------------------------- NB-08-17 130 135 5 0.009 39.62 41.15 1.53 0.31 -------------------------------------------------------------------- 160 165 5 0.010 48.77 50.29 1.52 0.34 -------------------------------------------------------------------- 170 175 5 0.008 51.82 53.34 1.52 0.29 -------------------------------------------------------------------- 195 200 5 0.010 59.44 60.96 1.52 0.35 -------------------------------------------------------------------- 205 220 15 0.013 62.48 67.06 4.58 0.44 -------------------------------------------------------------------- 245 260 15 0.010 74.68 79.25 4.57 0.35 -------------------------------------------------------------------- 265 270 5 0.008 80.77 82.30 1.53 0.29 -------------------------------------------------------------------- 280 325 45 0.026 85.34 99.06 13.72 0.90 -------------------------------------------------------------------- including 300 315 15 0.055 91.44 96.01 4.57 1.90 -------------------------------------------------------------------- 360 365 5 0.013 109.73 111.25 1.52 0.43 -------------------------------------------------------------------- 370 380 10 0.014 112.78 115.82 3.04 0.47 -------------------------------------------------------------------- -------------------------------------------------------------------- NB-08-18 255 265 10 0.021 77.72 80.77 3.05 0.73 -------------------------------------------------------------------- 295 335 40 0.034 89.92 102.11 12.19 1.16 -------------------------------------------------------------------- 355 360 5 0.010 108.20 109.73 1.53 0.34 -------------------------------------------------------------------- -------------------------------------------------------------------- (ii) All Mayflower holes for which assays have been completed; strict 250 ppb gold (0.250 g/t) cutoff; some assays are pending for holes NB-08-13 and 29 but are not expected to significantly change the results listed and will be posted in a later news release; holes 8, 9 and 16 passed through historic workings. Intervals marked with (i) are separated by or adjacent to intervals with no sample recovered, either due to poor recovery or workings; mineralized intervals are not necessarily true widths, but most holes were drilled to cross mineralization at a high angle.
FOR FURTHER INFORMATION PLEASE CONTACT:
Redstar Gold Corp. Tim Mikula Investor Relations (604) 488-0051 (604) 488-0053 (FAX) Email: tmikula@amemining.com Website: www.redstargold.comor
B&D Capital Partners Investor Relations (604) 685-6465 Website: www.redstargold.com
The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.