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Message: Redstar Gold Corp.: Drilling Resumes at Newman Todd Gold Project in Red Lake
May 9, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- Redstar Gold Corp. (TSX VENTURE:RGC) and our partner Confederation Minerals Ltd. (TSX VENTURE:CFM) are pleased to announce crews have mobilized and started preparation for an aggressive 12,000 metre drill program, at the Newman Todd Gold project in Red Lake, Ontario. Two drills are planned to begin drilling the Newman Todd Structure ("NTS") by mid May and continue into the fall of 2011. Drilling will focus on the NTS, which spans the entire length (approximately 2.2 kms) of the property. The structure has only been sparsely drilled along strike, and not tested at depths below 400 metres. The current drill program will follow up on encouraging results from the winter 2011 program, which included a highlight hole (previously reported Mar. 14/2011) that intersected 3.0 metres of 42.84 g/t gold, including 1.0 metre of 122.0 g/t gold.
Scott Weekes, President of Redstar states: "Exploration at Newman Todd has advanced significantly over the past few months. We continue to intersect gold in every hole in the Newman Todd Structure (NTS), and have begun to demonstrate continuity of high-grade gold mineralization within the HB zone, one of 4 known zones on the property. The objectives of the current program are to continue to expand the continuity of the known high-grade gold zones and to add additional targets along the strike of the NTS."
Spring/Summer 2011 exploration plans
To date, four zones containing high grade gold mineralization have been identified within the NTS; HB, Hinge, NE and NE Breccia (see company website in past news releases for assay results from these zones). The spring/summer 2011 drill program will have two main objectives. One drill will follow the known high-grade gold zones within the HB and Hinge areas along strike and to depth. The other drill will test the NTS between the known areas of gold mineralization on 100 to 200 metre spacing.
In addition to drilling a property wide geological mapping and litho-geochemical sampling program will be completed. The program will consist of detailed structural mapping to determine local controls on gold mineralization, and target potential gold zones outside of the NTS. The property has seen little mapping or prospecting since the 1980's, and there are several gold anomalies outside of the NTS which warrant further work. The company has also contracted the services of a structural consultant who will assist with on-going exploration.
The NTS is a large scale alteration/deformation zone within the Red Lake Greenstone Belt, it is one of 3 areas within the belt recognized for widespread iron-carbonate alteration, the other two are at the Red Lake Mine and the East Bay Deformation Zone - host to Rubicon's Phoenix zone. The scale and style of alteration, within the NTS, is usually associated with large multi-stage hydrothermal systems with sources deep in the earth's crust. High-grade gold mineralization is associated with silica, sulphide and magnetite replacement of the iron-carbonate zones. These high-grade zones can often form distinct lenses or shoots of high-grade with extensive down-dip extent and are often associated with wider zones of lower grade gold mineralization.
|Significant gold intercepts from previously reported drilling|
|* represents core width and not true width.|
Exploration work at Newman-Todd is being funded by Confederation Minerals Ltd. (Confederation), (TSX VENTURE:CFM). Confederation can earn a 50% interest in the project by spending $5.0 million in exploration within three years, and an additional 20% by producing a Preliminary Economic Assessment (PEA) within six years.
Bob Singh P.geo is the qualified person as defined by National Instrument 43-101and has reviewed this news release. Mr. Singh is the Canadian Exploration Manager for Redstar Gold Corp. Core samples from the program were cut in half using a diamond cutting saw and were sent to ALS Laboratory Group in, an accredited mineral analysis laboratory in Thunder Bay, Ontario, for preparation and analysis utilizing fire assay methods. Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream as part of Redstar's quality control/quality assurance program.
On Behalf of the Board,
Redstar Gold Corp
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Redstar Gold Corp.
Source: Marketwire Canada (May 9, 2011 - 8:03 AM EDT)
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