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MONTREAL, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Company”) (TSX-V:GDM) is pleased to announce that a detailed ground gravimetric survey has commenced on its Lake George Property, located in New Brunswick, Canada. Goldstar is focused on developing deposits that contain gold and high-valued metals such as tin in leading mining jurisdictions in Canada.
Géosig Inc. from Québec City, Québec was commissioned to perform a detailed gravimetric survey consisting of approximately 75 line-kilometers with stations every 50 to 100 metres and lines spaced every 100 metres, covering and comprising 2.0 kilometres of potential strike length covering the Coyote and Waterloo Lake Fault (“WLF”) gold zone areas.
Goldstar will benefit from high precision topographic data associated with the Lidar coverage provided by the government of New Brunswick over Lake George as well as the position of a permanent gravity station less than 6 kilometres from the Property for calibration purposes, allowing very precise corrections of raw data. This additional geophysical survey is aimed to better locate buried intrusions and alteration zones that may be linked to already identified and new potentially gold bearing structures, prior to undertaking the next diamond-drilling program.
Next steps
The Company will integrate the new and detailed gravimetric data to existing surveys and determine the position, orientation and length of the most promising areas for diamond drilling, focusing on the Coyote and the WLF zones. Recall that the WLF zone has been defined at surface over an area 100m x 25m with an average grade of 1.0 g/t Au (see press release 2017/11/30).
Goldstar expects to begin a second diamond drill program at Lake George in March 2018. Access for drilling is excellent all year long and easy logistics are expected.
Benoit Moreau, President and CEO of Goldstar comments: “This new geophysical survey will be performed to transect both the Coyote and WLF gold zones at multiple areas. We are very fortunate to have both the Lidar coverage and the permanent gravity station that will allow the delivery of highly accurate final data. The Company aims to better define the extent of identified gold zones and outline other new promising areas. Goldstar plans to begin its second diamond drilling program at Lake George in March 2018.”
Disclosure
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., CEO and director of the Company. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For more information, please contact:
Benoit Moreau
President and CEO
514-591-8058
bmoreau@goldstarminerals.com
François Perron
Director
416-312-4811
fperron@goldstarminerals.com
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This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.