VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2009) - Redstar Gold Corp. ("Redstar" or "the Company") (TSX VENTURE:RGC) is pleased to announce the start of drilling on its 100% owned Richmond Summit project on the Carlin Trend in Nevada. The work is being conducted and funded by Fronteer Development Group Ltd. (Fronteer) that has an option to earn a 70% interest in the property under terms announced July 22, 2009. The drilling is focused on testing intersections of mineralized and dike-filled north-south trending structures where they come into contact with deep carbonate rocks. These kinds of geological settings are known to contain the important gold deposits on the Carlin Trend.
Scott Weekes, Redstar President stated: "We are excited to start drilling at Richmond Summit with Fronteer directing the work; they have a strong technical team and are an aggressive gold exploration company with extensive experience in Nevada. The Carlin Trend is well known for large gold mines, and the Richmond Summit property is right in the middle of this prolific gold mining region. We are excited to have a significant drilling program underway at Richmond Summit, as we feel this project is well located, under explored and previous work indicates strong potential for gold discoveries."
The Richmond Summit project covers 2 square miles within the central Carlin trend, 4 miles northwest of the Mike copper-gold deposit within the Gold Quarry (Maggie Creek) district, and 5 miles south of the Carlin gold mine, both operated by Newmont Mining Corporation. Gold production and reserves/resources in the Maggie Creek district total at least 29 million ounces of gold, with at least 10 million ounces in the Carlin mine area (including the West Leeville and Pete deposits).
The project lies on the southern extension of the Post fault, a major structural control to world-class gold deposits in the Carlin trend such as Post-Betze (Goldstrike) and Meikle (combined greater than 35 million oz of gold). The project contains numerous north trending dikes which follow this fault and can be traced north along the fault through the Genesis, Deep Post, Goldstrike and Meikle gold deposits. Gold mineralization within the Carlin Trend is often related to the emplacement of these dikes.
Gold mineralization at the Main Zone on the Richmond Summit property is associated with the margins of dikes and returned values up to 7.75 g/t gold. Geophysical surveys have identified a series of north-south trending structures. These structures are important as they are often associated with altered dikes and can contain anomalous gold, arsenic, mercury, antimony and silver. Fronteer's recent work has already identified new significant gold values to 3.72 ppm (g/t) in an area west of the main zone.
At Richmond Summit limited past drilling has identified a thick sequence of carbonate rocks thought to represent lower plate rocks - lower plate rocks host a majority of the gold mineralization in the Carlin Trend.
Dr. Jacob Margolis, US Exploration Manager for Redstar, is a Qualified Person as defined by National Instrument 43-101 and has reviewed this news release.
Redstar is a junior exploration company focused on gold exploration in Nevada and Red Lake. Redstar currently has eleven projects in Nevada and one in Red Lake, Ontario. For more information on these projects please visit the company's web site at www.redstargold.com.
On Behalf of the Board,
Redstar Gold Corp.
FOR FURTHER INFORMATION PLEASE CONTACT:
Redstar Gold Corp. - Corporate Inquiries
Tim Mikula
Investor Relations
604-488-0051
604-488-0053 (FAX)
tmikula@amemining.com
www.redstargold.com
