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Message: ITH... Resource est for this soon???

ITH... Resource est for this soon???

posted on Aug 27, 2008 11:24AM


Project
The North Bullfrog Project covers a large low-sulfidation, volcanic-hosted epithermal gold system and shares important similarities to the productive gold mineralization at the nearby Bullfrog mine. Both areas contain low-grade disseminated and high-grade quartz-adularia-calcite vein style mineralization of the same age and within the same volcanic sequence, and both contain distinctive brown manganese-rich calcite in veins.

Location
The North Bullfrog Project lies six miles north of the Bullfrog mine (operated by Barrick Gold Corp. with historical gold production of 2.4 million ounces gold) in the northern Bullfrog Hills near the town of Beatty in southwestern Nevada. The North Bullfrog project is a bulk tonnage gold target that has a number of large gold anomalies and historically-mined high-grade vein mineralization with an extensive, although patchwork, exploration history which has left a number of highly attractive targets untested.

Ownership
Redstar Gold Corp. controls 4.75 square miles of 100%-owned unpatented claims and leased patented claims. ITH can earn up to a 70% interest in this property.

Property Background
The Project area contains several historic underground gold mines. There has been no exploration in the Project since 1996. Previous drilling programs encountered significant gold mineralization. At North Bullfrog, historical production in the early 20th century came from high-grade vein systems that remain open along strike and down dip. More recent exploration has shown potential for large bulk tonnage systems hosted in favourable units with additional potential for higher grade structurally controlled zones similar to the deposits in the main Bullfrog District to the south. Redstar has completed the initial surface work required to define the primary target opportunities on the property and the project is ready to move to the discovery drill phase. ITH will focus its exploration on drilling several of the untested structural targets within the large low-grade zones which it believes could lead to the definition of a large deposit.

Mineralization
Gold mineralization is genetically and temporally related to regional volcanism. The Project lies along a northerly-trending district-scale fault system which extends from the Bullfrog mine into the Project and which is believed to be a regional control to gold mineralization. Numerous normal faults cut the volcanic sequence and localize vein-style gold mineralization in both areas. Basement Paleozoic limestone, shale and quartzite occur in the Project, locally as large rootless inclusions within volcanic debris-flow breccias. Unlike the Bullfrog mine area, the Project contains abundant syn-volcanic intrusions, possibly indicating a more rigorous magmatic/volcanic environment compared to the Bullfrog mine.

Silicification of volcanic rocks is widespread in the project area and is accompanied by low-grade disseminated gold mineralization (Sierra Blanca, Jolly Jane). Quartz-adularia-calcite veins and stockworks are common and locally contain high gold grades (Pioneer, Yellowjacket, Mayflower). Mineralization also occurs within Paleozoic rocks (Savage, Connection) in rooted basement or as large rootless inclusions within altered volcanic debris flows.



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