CSRNF - Canstar Extends Blow Out Target to 1 km Potential Strike Length with Rock Grab Sample Assays up to 36.14 g/t Gold
(TheNewswire)
Highlights
-
- New assay results confirm high grade goldmineralization at the Blow Out target on the Golden Baie Property inNewfoundland, with float grab samples grading up to 36.14 g/tgold;
- Recent prospecting work expanded the Blow Out targetarea about 325 metres across strike to the northeast and to apotential strike length of approximately 1 km;
- A different style of gold mineralization includingsignificant silver was also discovered in a test pit in the Blow Outtarget area in two float samples, one of which contained 146 g/tsilver, 2.32% lead, and 5.76 g/t gold.
Toronto, Ontario – TheNewswire - December 8,2020 – CANSTAR RESOURCES INC. (TSXV:ROX ) & ( OTC:CSRNF) (“ Canstar” or the “Company ”) is pleased to announce additionalassay results from the Phase I exploration program on its 62,175hectare Golden Baie Project (the “Project”) located insouth-central Newfoundland. These results focus on the Blow Outtarget, which is towards the south end of the approximately 30 kmtrend of high grade gold occurrences discovered to date on the Project(Figure 1).
Canstar’s 2020 field exploration program focused inand around the Kendell prospect, where visible gold in quartz veinswas discovered at surface for the first time on the property in 2019. The Blow Out target, discovered in 2009 by a previous company, isapproximately 2 km northeast of the Kendell prospect (Figure 2). Atthe Blow Out target, assays up to 36.14 g/t Au are associated withfolded and recrystallized quartz veins in shaley arsenopyrite bearing metasediments, which is similar to that seen at the Kendellprospect. New rock sampling of the Blow Out target extends the areaof interest by about 325 metres across strike to the northeast withnew float samples grading up to 36.14 g/t Au (Table 1 & Figure 3). A 1,450 metre by 500 metre soil sampling grid over the Blow Outtarget was also completed recently in order to identify additionaltargets, with assays pending.
Two float samples from the southwest corner of the soilgrid host a different style of mineralization than typically seen atknown occurrences to date. At surface, a strongly silicifiedarsenopyrite and base metal sulphide bearing and angular floatapproximately 1 metre in maximum dimension assayed 4.85 g/t Au, 907ppm Cu, 199 ppm Pb, 67 ppm Zn, 35 ppm Sb, and over 1000 ppm As. A testpit unearthed a similar float sample at 3 metres depth that assayed5.76 g/t Au, 197 ppm Cu, 23,200 ppm Pb, 51 ppm Zn, 60 ppm Sb, and over1000 ppm As. This polymetallic style of gold mineralization associatedwith base metal sulphides has not been seen elsewhere in the 2020exploration season or historically and represents a potential newstyle of gold occurrence. The presence of two such angular floatsamples close to each other at different depths in the till suggests afloat train may exist which can be traced to a bedrock source.
Rob Bruggeman, President & CEO of Canstar,commented: “Assays from recent prospecting on Golden Baie reinforcethe exciting prospectivity of this large property. The Blow Outtarget is one of over 20 areas with gold occurrences on the propertyand our recent work just increased the potential strike length of theBlow Out target to over 1 km, making this a compelling target foradditional exploration and drilling in 2021.”
Table 1 - Highlight Grab SampleAssays from the Blow Out target
| Sample Number |
| Gold Assay g/t |
| Description |
| R16257 |
| 36.14 |
| Float samples expanding the Blow Out target to theEast |
| R16258 |
| 19.24 |
| R16319 |
| 0.37 |
| R16262 |
| 32.06 |
| Grab samples from a 2009 trench in the middle of theBlow Out target |
| R16264 |
| 10.48 |
| R16263 |
| 3.44 |
| R16414 |
| 5.76 |
| Contains 2.32 % Pb & 145.8 g/t Ag at the southwestend of the Blow Out target |
Note that rock grab samples areselective by nature and values reported may not represent the truegrade or style of mineralization across the property.
Figure 1 - Golden Baie ProjectLocation, Claims, and Known Mineralized Gold Occurrences
Figure 2 - Mineralized OccurrencesAlong the Little River Trend, Golden Baie Project
Figure 3 - Historic and New GoldMineralization at the Blow Out Target
QA/QC
All rock samples are collected by company personnel andbagged in the field with a sample tag for identification. Fourstandards and two blanks were included in each 100 samples, andduplicates were taken of roughly every 30 th channelsample. Larger bags of 10-30 samples are sealed with cable ties andkept secure at a company facility until they are transported directlyto the lab by Canstar staff.
All rock samples are analyzed at Eastern Analytical of403 Little Bay Road, Springdale, NL, a commercial laboratory that isISO/IEC 17025 accredited and completely independent of the Company.For all channel samples and later batches of grab samples EasternAnalytical crushed and pulverized the entirety of each sample toapproximately 95% -150 mesh material. Samples are analyzed usingpackage Au (Fire assay) @ 30g + ICP-34, gold by fire assay with a30-gram nominal sample weight followed by 34 element analysis using afour acid digestion and ICP-OES analysis; Standards and blanks areincluded by the lab with every 20 samples for QualityAssurance/Quality Control purposes.
Qualified Person
Bob Patey, B.Sc., P.Geo, Senior Geologist of Canstar,and a Qualified Person as defined by National Instrument 43-101 -Standards of Disclosure for Mineral Projects, is responsible for thescientific and technical data presented herein and has reviewed andapproved this release.
About Canstar Resources Inc.
Canstar is focused on the discovery and development ofeconomic mineral deposits in Newfoundland and Labrador, Canada.Canstar has an option to acquire a 100% interest in the Golden BaieProject, a large claim package (over 62,175 hectares) with recentlydiscovered, multiple outcropping gold occurrences on a majorstructural trend in south-central Newfoundland. The Company also holdsthe Buchans-Mary March project and other mineral explorationproperties in Newfoundland. Canstar Resources is based in Toronto,Canada, and is listed on the TSX Venture Exchange under the symbol ROXand trades on the OTCPK under the symbol CSRNF.
For further information, pleasecontact:
Rob Bruggeman P.Eng., CFA
President & CEO
Email: rob@canstarresources.com
Phone: 1-416-884-3556
Forward-Looking Statements
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This News Release includes certain"forward-looking statements" which are not comprised ofhistorical facts. Forward looking statements include estimates andstatements that describe the Company’s future plans, objectives orgoals, including words to the effect that the Company or managementexpects a stated condition or result to occur. Forward lookingstatements may be identified by such terms as “believes”,“anticipates”, “expects”, “estimates”, “may”,“could”, “would”, “will”, or “plan”. Sinceforward-looking statements are based on assumptions and address futureevents and conditions, by their very nature they involve inherentrisks and uncertainties. Although these statements are based oninformation currently available to the Company, the Company providesno assurance that actual results will meet management’sexpectations. Risks, uncertainties and other factors involved withforward-looking information could cause actual events, results,performance, prospects and opportunities to differ materially fromthose expressed or implied by such forward-looking information.Forward looking information in this news release includes, but is not limited to,the Company’s objectives, goals or future plans, statements,exploration results, potential mineralization, the estimation ofmineral resources, exploration and mine development plans, timing ofthe commencement of operations and estimates of market conditions.Factors that could cause actual results to differ materially from suchforward-looking information include, but are not limited to failure toidentify mineral resources, failure to convert estimated mineralresources to reserves, the inability to complete a feasibility studywhich recommends a production decision, the preliminary nature ofmetallurgical test results, delays in obtaining or failures to obtainrequired governmental, environmental or other project approvals,political risks, inability to fulfill the duty to accommodate FirstNations and other indigenous peoples, uncertainties relating to theavailability and costs of financing needed in the future, changes inequity markets, inflation, changes in exchange rates, fluctuations incommodity prices, delays in the development of projects, capital andoperating costs varying significantly from estimates and the otherrisks involved in the mineral exploration and development industry, aninability to predict and counteract the effects of COVID-19 on thebusiness of the Company, including but not limited to the effects ofCOVID-19 on the price of commodities, capital market conditions,restriction on labour and international travel and supply chains, andthose risks set out in the Company’s public documents filed onSEDAR. Although the Company believes that the assumptions and factorsused in preparing the forward-looking information in this news releaseare reasonable, undue reliance should not be placed on suchinformation, which only applies as of the date of this news release,and no assurance can be given that such events will occur in thedisclosed time frames or at all. The Company disclaims any intentionor obligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwise,other than as required by law.
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