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Redstar Gold Corp.
TSX VENTURE: RGC
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 3, 2010) - Redstar Gold Corp. ("Redstar" or "the Company") (TSX VENTURE:RGC) is pleased to announce that drilling has resumed on its emerging high-grade gold Newman Todd project in Red Lake, Ontario. Results from recent drilling (announced January 12, 2010) have helped define three zones of highgrade gold mineralization within a structural trend that can be traced for 2000 metres. Current drilling is focused on expanding the known zones of mineralization and continuing to test the structural trend.
Scott Weekes, President of Redstar stated: "We are very excited to be back drilling in Red Lake. The results from the drilling completed in 2009 have elevated the Newman Todd project to a new level. The four holes completed in 2009 targeted gold mineralization in two areas 400 metres apart and three of the four holes intersected intervals of greater that 20 g/t gold. In many of the Red Lake gold deposits bonanza grade zones occur at depths much deeper than currently tested at Newman Todd. The current drilling will continue to expand on the near surface gold zones, test the known gold zones at greater depths and test along strike of the known gold zones. Having an emerging high-grade gold discovery in one of the highest grade gold camps in the world is very exciting - we look forward to further drilling to better understand the Newman Todd gold system."
Previous work by Redstar on the Newman Todd property has outlined gold mineralization within a silicified breccia zone that has been traced for at least two kilometres. Drilling done by Redstar intersected high grade zones within broader intervals of lower grade (NT-040: 61.20 g/t gold over 1.0 metre within a wider zone of 67.0 metres of 1.76 g/t gold). The property has many similarities to the major mines in the Red Lake camp such as Goldcorp's Campbell and Red Lake mines. Similarities include; proximity to a major structure, secondary northwest-southeast trending structures, proximity to a folded ultramafic body and association with a large Fe-carbonate alteration zone.
To date, 20 drill holes have been completed by Redstar within the Newman Todd Structural Zone. A plan map, sections and composite long section can be found on Redstar's web site (www.redstargold.com).
Redstar is the co-operator of this project with the work funded by Central Resources Corp. (Central) (TSX.V:CBC). Central has an option to earn up to a 60% interest in the property under terms announced Oct. 05, 2009.
Bob Singh, Exploration Manager - Canada for Redstar Gold Corp., and a Qualified Person as defined by National Instrument 43-101 has reviewed this news release.
On Behalf of the Board,
Redstar Gold Corp.
"Scott Weekes"
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.
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