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Welcome To The RedStar Gold HUB On AGORACOM
Focused on Red Lake, Alaska and Nevada
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Redstar Intersects Bulk Tonnage Gold Mineralization at its North Bullfrog Project, Nevada
21.3 meters of 1.2 g/t gold and 9.1 meters of 1.2 g/t gold
08:31 EDT Tuesday, April 29, 2008
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 29, 2008) - Redstar Gold Corp. (TSX VENTURE:RGC) is pleased to announce positive results from recently-completed drilling at the North Bullfrog Project in Nevada. Significant gold mineralization was intersected at the Air Track Hill (ATH) target in the Sierra Blanca area, including 1.16 g/t over 21.34m (0.034 opt over 70 feet) and 1.20 g/t over 9.14m (0.035 opt over 30 feet). The results confirm the potential for developing a bulk-tonnage resource. An additional 52 claims (400 Ha) have been staked to cover potential extensions of this mineralization. The target at Sierra Blanca is geologically similar to the Round Mountain deposit (currently being mined by Barrick and Kinross which has produced over 10 million ounces of gold grading 0.63 g/t) or Hycroft Deposit (produced 1.0 million ounces of gold grading 0.68 g/t). The drilling was done by International Tower Hill Mines Ltd. (TSX VENTURE:ITH), who can earn a 60% interest in the project by making expenditures of $4.0 million and can earn an additional 10% (for a total of 70%) by producing a feasibility report.
Scott Weekes, president of Redstar, states: "Our joint venture partner, ITH has now completed half of their earn-in expenditures in very aggressive drilling programs on the North Bullfrog Project in Nevada. This drilling has lead to two discoveries - the recently announced Mayflower Zone and now at Air Track Hill. This new discovery is part of a much larger area of interest at the Sierra Blanca area where surface sampling and widely-spaced historic drilling have outlined a gold geochemical anomaly that is 2 square km. The latest 11 drill holes combined with the two holes drilled last year 600 m to the northeast clearly establishes the potential for a large near surface bulk tonnage target. Work by Redstar and ITH has defined near surface gold mineralization in two separate zones; at Mayflower there is a high grade near surface target and 3 km to the northwest we have added the large bulk tonnage targets at Sierra Blanca. In addition to the North Bullfrog Project we are also looking forward to exploration work with our joint venture partner Gold Fields on our Carlin Trend properties. These various projects give us exposure to several high quality projects in Nevada with exploration costs covered by our partners. With our partners working aggressively in Nevada we can focus on our Newman/Todd project at Red Lake, Ontario. This combination gives us a group of high quality gold exploration projects in two of the most prolific gold camps in North America.
--------------------------------------------------------------------- From To Width Gold From To Width Gold Hole (ft) (ft) (ft) (opt) (m) (m) (m) (g/t) --------------------------------------------------------------------- NB-08-20 295 305 10 0.021 89.92 92.96 3.04 0.71 NB-08-21 75 145 70 0.034 22.86 44.20 21.34 1.16 including 120 125 5 0.096 36.58 38.10 1.52 3.28 NB-08-23 5 40 35 0.015 1.52 12.19 10.67 0.50 NB-08-25 510 540 30 0.015 155.45 164.59 9.14 0.50 NB-08-26 25 55 30 0.035 7.62 16.76 9.14 1.20 815 845 30 0.015 248.41 257.56 9.15 0.53 NB-08-27 295 315 20 0.013 89.92 96.01 6.09 0.44 385 440 55 0.012 117.35 134.11 16.76 0.41 NB-08-29 0 30 30 0.024 0.00 9.14 9.14 0.82 --------------------------------------------------------------------- Table of Significant Results - for a complete list see Table 2
Dr. Jacob Margolis, U.S. Exploration Manager for Redstar, states: "The extent of low-grade mineralization at Air Track Hill and the greater Sierra Blanca area is impressive, covering at least 2 square kilometers. This widespread disseminated gold system clearly contains volumes of higher grade, and our on-going effort is to define those volumes. More importantly, we continue to investigate the controls to the mineralization, so that we can identify possible high-grade feeder structures."
The results from ATH are in addition to the high-grade mineralization encountered in the nearby Mayflower target at North Bullfrog reported April 14, 2008. Eleven reverse-circulation holes were completed at ATH for a total of 2,469m (8,100 feet), and all assays have been received (Table 1). All but one of the 11 holes intersected mineralization exceeding 0.25 g/t. A plan map of the drilling is shown in Figure 1.
Silicified volcanic rocks exposed at ATH contain disseminated low-grade gold mineralization, with surface rock-chip samples reaching 1.36 g/t (0.039 opt). The goal of the 2008 drilling at ATH was to expand and develop a better understanding of the gold mineralization. Mineralization was successfully extended 60m (200 feet) to the north, where holes NB-08-26 and 27 intersected 1.2 g/t over 9.14m (0.035 opt over 30 feet) and 0.41 g/t over 16.76m (0.012 opt over 55 feet), respectively, and mineralization was intersected to 900 feet below surface. Mineralization remains open to the south; the southernmost fence of holes includes NB-08-21, with 1.16 g/t over 21.34m (0.034 opt over 70 feet). There is an area of mineralization about 400m west of ATH where historic drilling intersected (1.99 g/t over 15.24m (0.058 opt over 50 feet), and additional exploration drilling between the two areas is warranted. In 2007, two core holes were completed in the main Sierra Blanca area about 600m northeast of ATH and intersected 1.11 g/t over 7.6m (0.032 opt over 24.9 feet), 0.44 g/t over 12m (0.013 opt over 39.4 feet), and 0.42 g/t over 14.7m (0.012 opt over 48.2 feet) within broader zones of anomalous gold (Figure 2). Taken together, the results continue to indicate that Sierra Blanca contains a very large bulk-tonnage type gold system.
The North Bullfrog Project covers approximately 17.6 square km (6.8 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 and is 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), and Dr. Jacob Margolis, Exploration Manager for Redstar Gold Corporation, who are responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project weigh and photograph samples from each individual drill hole prior to sealing and shipped to ALS Chemex for assay. ALS Chemex's 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.
About Redstar Gold Corp.
Redstar Gold Corp. is a Vancouver-based company focused on gold exploration in Nevada and Red Lake, Ontario.
For more detailed information on Redstar's Nevada projects, as well as its gold projects in the Red Lake area, please visit the company's web site at www.redstargold.com.
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.
To view Figure 1 and Figure 2 accompanying this press release please click on the following link: http://media3.marketwire.com/docs/RG...
Table 2. Air Track Hill Assay Results(i) ------------------------------------------------------------------------- ------------------------------------------------------------------------- From To Int opt From To Int g/t Hole ft ft ft Au m m m Au ------------------------------------------------------------------------- ------------------------------------------------------------------------- NB-08-19 130 135 5 0.008 39.62 41.15 1.53 0.28 ------------------------------------------------------------------------- 185 190 5 0.008 56.39 57.91 1.52 0.29 ------------------------------------------------------------------------- 355 360 5 0.041 108.20 109.73 1.53 1.42 ------------------------------------------------------------------------- 370 375 5 0.014 112.78 114.30 1.52 0.49 ------------------------------------------------------------------------- 445 455 10 0.014 135.64 138.68 3.04 0.49 ------------------------------------------------------------------------- 475 480 5 0.014 144.78 146.30 1.52 0.47 ------------------------------------------------------------------------- 485 490 5 0.016 147.83 149.35 1.52 0.55 ------------------------------------------------------------------------- ------------------------------------------------------------------------- NB-08-20 295 305 10 0.021 89.92 92.96 3.04 0.71 ------------------------------------------------------------------------- ------------------------------------------------------------------------- NB-08-21 0 5 5 0.008 0.00 1.52 1.52 0.29 ------------------------------------------------------------------------- 60 70 10 0.013 18.29 21.34 3.05 0.44 ------------------------------------------------------------------------- 75 145 70 0.034 22.86 44.20 21.34 1.16 ------------------------------------------------------------------------- including 120 125 5 0.096 36.58 38.10 1.52 3.28 ------------------------------------------------------------------------- 405 410 5 0.014 123.44 124.97 1.53 0.47 ------------------------------------------------------------------------- 460 470 10 0.017 140.21 143.26 3.05 0.59 ------------------------------------------------------------------------- 485 490 5 0.015 147.83 149.35 1.52 0.53 ------------------------------------------------------------------------- 500 515 15 0.016 152.40 156.97 4.57 0.55 ------------------------------------------------------------------------- ------------------------------------------------------------------------- NB-08-22 0 15 15 0.017 0.00 4.57 4.57 0.59 ------------------------------------------------------------------------- 150 160 10 0.010 45.72 48.77 3.05 0.34 ------------------------------------------------------------------------- ------------------------------------------------------------------------- NB-08-23 5 40 35 0.015 1.52 12.19 10.67 0.50 ------------------------------------------------------------------------- ------------------------------------------------------------------------- NB-08-24 no values greater than or equal to 0.250 g/t ------------------------------------------------------------------------- ------------------------------------------------------------------------- NB-08-25 370 375 5 0.014 112.78 114.30 1.52 0.48 ------------------------------------------------------------------------- 510 540 30 0.015 155.45 164.59 9.14 0.50 ------------------------------------------------------------------------- ------------------------------------------------------------------------- NB-08-26 25 55 30 0.035 7.62 16.76 9.14 1.20 ------------------------------------------------------------------------- 285 290 5 0.014 86.87 88.39 1.52 0.47 ------------------------------------------------------------------------- 295 310 15 0.009 89.92 94.49 4.57 0.32 ------------------------------------------------------------------------- 345 350 5 0.007 105.16 106.68 1.52 0.25 ------------------------------------------------------------------------- 685 690 5 0.015 208.79 210.31 1.52 0.53 ------------------------------------------------------------------------- 700 705 5 0.011 213.36 214.88 1.52 0.36 ------------------------------------------------------------------------- 780 785 5 0.007 237.74 239.27 1.53 0.25 ------------------------------------------------------------------------- 815 845 30 0.015 248.41 257.56 9.15 0.53 ------------------------------------------------------------------------- 890 895 5 0.010 271.27 272.80 1.53 0.34 ------------------------------------------------------------------------- 910 920 10 0.012 277.37 280.42 3.05 0.41 ------------------------------------------------------------------------- 995 1000 5 0.009 303.28 304.80 1.52 0.30 ------------------------------------------------------------------------- ------------------------------------------------------------------------- NB-08-27 270 275 5 0.007 82.30 83.82 1.52 0.25 ------------------------------------------------------------------------- 295 315 20 0.013 89.92 96.01 6.09 0.44 ------------------------------------------------------------------------- 320 325 5 0.009 97.54 99.06 1.52 0.30 ------------------------------------------------------------------------- 355 360 5 0.007 108.20 109.73 1.53 0.25 ------------------------------------------------------------------------- 375 380 5 0.008 114.30 115.82 1.52 0.28 ------------------------------------------------------------------------- 385 440 55 0.012 117.35 134.11 16.76 0.41 ------------------------------------------------------------------------- 445 450 5 0.013 135.64 137.16 1.52 0.45 ------------------------------------------------------------------------- 495 505 10 0.009 150.88 153.92 3.04 0.31 ------------------------------------------------------------------------- ------------------------------------------------------------------------- NB-08-28 980 985 5 0.011 298.70 300.23 1.53 0.37 ------------------------------------------------------------------------- ------------------------------------------------------------------------- NB-08-29 0 30 30 0.024 0.00 9.14 9.14 0.82 ------------------------------------------------------------------------- 35 40 5 0.008 10.67 12.19 1.52 0.26 ------------------------------------------------------------------------- 130 135 5 0.008 39.62 41.15 1.53 0.27 ------------------------------------------------------------------------- 200 205 5 0.019 60.96 62.48 1.52 0.64 ------------------------------------------------------------------------- 210 225 15 0.011 64.01 68.58 4.57 0.39 ------------------------------------------------------------------------- 255 260 5 0.008 77.72 79.25 1.53 0.26 ------------------------------------------------------------------------- 270 280 10 0.007 82.30 85.34 3.04 0.25 ------------------------------------------------------------------------- 310 325 15 0.010 94.49 99.06 4.57 0.35 ------------------------------------------------------------------------- 330 335 5 0.008 100.58 102.11 1.52 0.27 ------------------------------------------------------------------------- 350 380 30 0.010 106.68 115.82 9.14 0.34 ------------------------------------------------------------------------- 385 415 30 0.009 117.35 126.49 9.14 0.31 ------------------------------------------------------------------------- 425 430 5 0.008 129.54 131.06 1.52 0.26 ------------------------------------------------------------------------- 620 625 5 0.017 188.98 190.50 1.52 0.57 ------------------------------------------------------------------------- ------------------------------------------------------------------------- (i) Strict 0.250 g/t cutoff, mineralized intervals do not necessarily reflect true widths
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.com
or
B&D Capital Partners Investor Relations (604) 685-6465
The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.
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