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Message: Drilling at Newman Todd Intersects High-Grade Gold 10.39 g/t Gold Over
9.5 Metres Including 103 g/t Gold Over 0.5 Metres
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 28, 2013) - Redstar Gold Corp. (TSX VENTURE:RGC): ("Redstar" or the "Company") is pleased to announce additional high-grade gold results from the 2013 diamond drill program at the Newman Todd property in Red Lake, Ontario. The four holes reported in this release were drilled on Sections 2000 and 2025 (Note: NT-151 was released by Confederation on Aug 23, 2013). These holes together have intersected high grade mineralization which is interpreted to be continuous across both cross sections. The mineralization is closely associated with the hanging wall (southern) contact of the Newman Todd Structure ("NTS"). Drilling in 2013 has focused on a 575 metre corridor within the NTS termed the Hinge Zone. The entire strike length of the drilled area of the NTS is approximately 1.8 km and this strike remains untested for an additional 400 metres to the south-west and at depth. (See figures 1, 2 & 3 attached to this news release.)
- NT-151 (previously released by Confederation Minerals on Aug 23, 2013) intersects 13.46 g/t gold over 1.5 metres including 24.0 g/t gold over 0.5 metres
- NT-152 intersects 98.60 g/t gold over 1.0 metre
- NT-153 intersects 12.42 g/t gold over 3.0 metres including 28.8 g/t gold over 0.5metre and 10.39 g/t gold over 9.5 metres including 35.0 g/t gold over 0.5metres and 103.0 g/t gold over 0.5 metres
- NT-154 intersects 16.7 g/t gold over 1.0 metre
Table of significant results:
|Hole ID||From (m)||To (m)||Width (m)*||Au (g/t)|
* Width is calculated as core length and does not imply true width of the zone. Weighted average gold intervals apply a 0.20 g/t lower cut-off. Internal dilution within reported intervals does not exceed core lengths of 3 metres unless otherwise indicated.
R. Bob Singh P.Geo, President of Redstar states: "The high grade gold mineralization intersected in these holes and other holes in this area is closely related to the hanging wall or southern contact of the NTS. The zones occur approximately 5 to 25 metres away from the contact. This style of gold mineralization is well documented at the Red Lake Mine where the high grade zone occurs proximal to a folded Mafic/Ultramafic contact. We look forward to additional results from this exciting new high grade discovery in Red Lake."
Exploration work at the Newman Todd project is funded by the operator, Confederation Minerals Ltd. (TSX VENTURE:CFM) ("Confederation"). Pursuant to an option agreement with Redstar, Confederation can earn a 50% interest in the project by spending $5.0 million on exploration, paying Redstar a total of $250,000, and issuing Redstar 500,000 shares by November 2013. To date Confederation has spent in excess of $5.0 million on exploration on the project, paid Redstar $175,000 and issued Redstar 350,000 shares. Confederation can earn an additional 20% interest by producing an NI43-101 compliant Preliminary Economic Assessment (PEA) by November 2016.
Andrea Diakow P.Geo is the qualified person as defined by National Instrument 43-101 and has reviewed the technical content related to the disclosed drill results in this news release. Core samples from the program were cut in half using a diamond cutting saw and were sent to Activation Laboratories Ltd. in Red Lake, Ontario, an accredited mineral analysis laboratory. All samples were analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold were analyzed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream as part of Confederation's quality control/quality assurance program.
On Behalf of the Board, Redstar Gold Corp
R. Bob Singh P.Geo, President & CEO
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 Corp. (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.
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