ROX:CC - Canstar Increases Winter Drill Program at Kendell Prospect
(TheNewswire)
Toronto, Ontario – TheNewswire - March 16, 2022– CANSTAR RESOURCES INC. (TSXV:ROX ) & ( OTC:CSRNF) (“ Canstar” or the “Company ”) is pleased to announce an updateon the winter drill program at the Kendell prospect, located in thecentral portion of its Golden Baie claim block which is at thesouthern end of the emerging central Newfoundland gold belt (Figure1). Based on preliminary results, the Company is also pleased toannounce that the winter drill program has been increased to 3,000metres of diamond drilling, a 50% increase from the original 2,000metre program that was announced on Feb. 8,2022 .
Figure 1 - Newfoundland goldexplorers along major structures and Canstar's Kendell Prospect
Drilling at Kendell Prospect
Canstar drilled a total of 2,620 metres in 36 diamonddrill holes at the Kendell prospect in 2021. Gold mineralization at Kendell was delineated over a down-diplength of approximately 100 metres and a strike length of 50 metresbased on assays from 36 drill holes in the 2021 drill program, 32 ofwhich intercepted meaningful gold mineralization. Mineralizedintercepts ranged from one metre to 11 metres in length and arespatially associated with metasedimentary rocks within the interpretedhanging wall of a fault zone that is defined by a four metre to 10metre thick strongly sheared unit of dark grey to black graphiticshale. Highlight holes from the 2021 program included: GB-21-01,which intersected 9.6 g/t gold over 7.8 metres; GB-21-50, whichintersected 11.8 g/t gold over 5.6 metres; and GB-21-53, whichintersected 12.2 g/t gold over 3.9 metres (see news releases from Aug. 19,2021 , and Feb. 8,2022 ).
The 2022 winter drill program was designed to test thecontinuity of the shallow-dipping gold mineralization along strike,down-dip, and down-plunge (Figure 2). Drilling commenced on February8, 2022, and to date 2,065 metres have been drilled in 31 holes. Based on preliminary drill core logging, the Company plans to drillan additional 9 holes to bring the total winter drill program to 3,000metres. Assay results from the drill holes are expected to bereceived by June, which will enable planning of another phase ofdrilling on the Kendell prospect later in the year.
Figure 2 - Kendell prospect plan map showingmineralized intercepts and areas to be drill tested
2022 Exploration Plans
Due to the high level of exploration activity inNewfoundland last year, the Company is still waiting for some finalassay results from the 2021 exploration program. The Company expectsto announce remaining drill results from the 2021 Golden Baie drillprogram in the coming weeks along with till sampling results from thearea around the Kendell prospect, as well as trench results from the97 West target located about 3.5 kilometres to the northeast ofKendell.
Rob Bruggeman, President & CEO of Canstar,commented: “The winter drill program on the Kendell prospect hasgone well despite challenges posed by weather and COVID. Increasingthe current drill program to 3,000 metres will allow us to test thecontinuation of gold mineralization farther down-dip. We are alsopleased to finally be receiving the remaining assays from the 2021exploration program. These results are important for finalizing theCompany’s 2022 exploration program, the budget for which is expectedto be approximately $6.0 million.”
Acknowledgements
Canstar wishes to acknowledge the financial support ofthe 2021 exploration program through the Junior Exploration AssistanceProgram from the Department of Natural Resources, Government ofNewfoundland and Labrador.
QA/QC:
In 2021 all rock samples were shipped to EasternAnalytical of 403 Little Bay Road, Springdale, NL, a commerciallaboratory that is ISO/IEC 17025 accredited and completely independentof Canstar Resources Inc. Samples were analyzed for gold using fireassay (30g) with AA finish and an ICP-34, four acid digestion followedby ICP-OES analysis for 34 additional elements. Metallic screening wasused for samples with visible gold and all samples with initial fireassays over 1.0 g/t Au.
For 2022 all rock samples are shipped to SGS Labs in Lakefield, ON for preparation and forwarded toSGS, Burnaby, BC for analyses. Samples are analyzed for gold using afire assay (30g) with ICP finish. Assaying is followed by a two-aciddigestion and analyses for 34 elements usingICP-OES or ICP-MS. Metallic screening is being used for samples withvisible gold and all samples with initial fire assays over 1.0 g/t Au.In addition to SGS Labs quality control program of standards, blanksand duplicates, Canstar’s QAQC program utilizes commerciallyavailable reference standards, blanks and duplicate samples to ensuredata quality. In addition, duplicates of selected samples are beingsent to a second laboratory as check assays.
Qualified Person
Matthieu Lapointe , B.Sc., P.Geo, Vice PresidentExploration of Canstar, and a Qualified Person as defined by NationalInstrument 43-101 - Standards of Disclosure for Mineral Projects, isresponsible for the scientific and technical data presented herein andhas reviewed and approved this release.
About Canstar Resources Inc.
Canstar is focused on district-scale gold explorationin Newfoundland, Canada. Canstar has a 100% interest in the GoldenBaie and Hermitage projects, large claim packages at the south end of the central Newfoundland gold belt, which cover 77,350 hectaresor 774 km 2 with multiple outcropping gold occurrences on a majorstructural trend. The Company also holds the Buchans-Mary Marchproject and other mineral exploration properties in Newfoundland.Canstar Resources is based in Toronto, Canada, and is listed on theTSX Venture Exchange under the symbol ROX and trades on the OTCPKunder the symbol CSRNF.
For further information, pleasecontact:
Rob Bruggeman, President & CEO
Email: rob@canstarresources.com
Phone: 1-647-247-8715
Website: www.canstarresources.com
Forward-Looking Statements
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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 notlimited to, the Company’s objectives, goals or future plans,statements, exploration results, potential mineralization, theestimation of mineral resources, exploration and mine developmentplans, timing of the commencement of operations and estimates of market conditions. Factorsthat 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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