CSRNF - Canstar Outlines 2021 Exploration Plans for the Golden Baie Project in Newfoundland
(TheNewswire)
Highlights:
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- $1.5 million exploration program includes diamonddrilling, trenching, and regional exploration on the Golden BaieProject, a large claim package in southern Newfoundland that is highlyprospective for orogenic gold mineralization.
- Drilling is expected to commence by early June andwill focus on the Kendell Prospect and the Blow Out Prospect, buildingon the field work from 2020.
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- The Kendell Prospect has the best grab samples (up to4,485 g/t gold) and the best trench intercepts encountered on theProject to date.
- The Blow Out Prospect area has multiple goldoccurrences at surface grading up to 32 g/t gold and gold-in-soilanomalies spanning over 1,200 metres along strike by up to 300 metreswide.
- Ground magnetic surveys have been completed in theKendell and Blow Out areas to aid with structural interpretation andtrenching to refine drill targets is permitted and underway.
- Regional exploration will evaluate the more remoteclaim blocks of the 62,175 hectare property in an effort to extend thestrike length of surface gold occurrences defined to date, whichcurrently span approximately 40 km on the Golden Baie property.
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Toronto, Ontario – TheNewswire - May 25, 2021– CANSTAR RESOURCES INC. (TSXV:ROX ) & ( OTC:CSRNF) (“ Canstar” or the “Company ”) is pleased to announce details ofits 2021 exploration program on the Golden Baie Project in southernNewfoundland. The exploration program is budgeted for $1.5 millionand will include at least 2,500 metres of diamond drilling, which willbe the first drilling on the property in over a decade. Subject toreceipt of drill permits, drilling using a track-mounted drill rig isexpected to commence by early June and continue into July. Thisallows for a potential second phase of the 2021 field program, ifwarranted by drill results from the first phase of drilltesting.
Exploration Objectives
The 2021 exploration program was designed with twoprimary objectives:
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1. Drill testing of the priorityKendell and Blow Out prospect areas - These twoareas, which are approximately 1.25 km apart in the central portion ofthe Golden Baie property (see Figure 1), have only five shallowhistoric drill holes. Recent surface exploration results have madethese areas the top drill targets due to the discovery of multiplestyles of gold mineralization, including free gold in quartz veins,and due to the extent of gold mineralization based on grab samplingand gold-in-soil anomalies. Drilling will follow trenching work toexpose veins and provide a better understanding of structural controlsand lithology.
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2. Grass roots exploration andtarget generation on remote claims - Some of theclaim blocks that comprise the Golden Baie Project are remote and haveseen little or no historical exploration even though they have similarlithology and proximity to the Day Cove Thrust fault like the othergold occurrences identified at Golden Baie. A LiDAR survey isplanned to identify regional structures and will be supplemented bylake sediment sampling, grass roots prospecting work, andgeochemistry.
Rob Bruggeman, CEO of Canstar, stated: “Ourexploration team is excited to be back out in the field at Golden Baieafter a short but productive field season in late 2020. Ourunderstanding of the Golden Baie property has advanced substantiallysince last fall due to compilation of considerable historical data,much dating from the 1980s, analysis of last year’s results, anddetailed ground magnetic surveys that were recently completed at theKendell and Blow Out prospects. A key focus of this year’s programwill be to identify broader widths of gold mineralization and tovector in on potential high grade gold zones associated with orogenicstyle gold mineralization.”
Figure 1 - Golden Baie claims mapwith known gold occurrences
Kendell Prospect
The Kendell Prospect is located in the central portionof the Golden Baie property. It is a high priority target fordrilling because grab samples from Kendell contain the highest gradesof gold mineralization encountered on the property to date. It wasin the Kendell area in 2019 that the visible gold was first discoveredon the Golden Baie property, with historical 1 grab samples assaying up to 4,485 g/t gold. Canstar’s 2020prospecting at Kendell identified multiple outcrop and float sampleswith visible gold in quartz stockwork and quartz breccia associatedwith intense silicification. ( Note: the reader iscautioned that rock grab samples are selective by nature and valuesreported may not represent the true grade or style of mineralizationacross the property.)
Two sequential trenches excavated in the Kendell areain 2020 uncovered quartz veins extending approximately 70 metres alongstrike (Figure 2). Channel sampling of the trench includedintercepts of 10.0 g/t gold over 3.0 metres (channel G) and 6.2 g/tgold over 5.0 metres (channel F) in trench TGB-20-01. Channel cut Cis also of significant interest, as it encountered multiplemineralized intervals in the vicinity of two quartz veins that appearto have undergone significant deformation and faulting. The veinstructure encountered in trenches TGB-20-01 and TGB-20-02 may continuealong strike based on rock and soil samples as well as groundmagnetics, so these trenches are currently being extended.
At least six short drill holes are planned at Kendellto evaluate the dip and vertical continuity of the veins encounteredin trenches TGB-20-01 and TGB-20-02. Drill holes will test for thevertical continuation of mineralization identified at surface andadvance the understanding of structural controls on goldmineralization.
Figure 2 - Kendell trenchesTGB-20-01 and TGB-20-02
Landing Target
The Landing Target is located approximately 250 metresto the north northwest of the Kendell Prospect (Figure 3). Five out offourteen historic float samples along an access trail in this locationgraded over 1 g/t gold, ranging from 11.8 to 33.4 g/t gold (averaging21.1 g/t gold). This area is wooded with little or no outcrop, sothere has been minimal exploration. Trenching is planned at theLanding Prospect to attempt to identify the source of the floatsamples (primarily angular boulders) along with additional prospectingwork. At least two drill holes are planned to test this area.
Blow Out Prospect
The Blow Out Prospect is located approximately 1.25 kmNE of the Kendell Prospect. A 1,450 x 400 metre soil sampling gridon 50 metres spacing completed in November 2020 indicated severalanomalies with gold values up to 255 ppb gold along over 1 km alongstrike and up to 300 metres wide (Figure 4). This soil grid is beingexpanded in the 2021 exploration program as two boulders grading 19.2g/t gold and 36.1 g/t gold were discovered outside of the soil grid inlate 2020. The soil sampling will also be extended to the southwest,where additional gold mineralization has been identified along strike. The size of the soil-in-gold anomalies and corresponding rocksamples with gold mineralization grading up to 36 g/t gold make thisarea one of the priority targets for advanced exploration in2021.
Figure 3 - Drone photo of theGolden Baie property near the Kendell and Blow Out Prospects, lookingnortheast
A ground magnetic survey recently completed by Canstarhas aided the structural interpretation of the Blow Out Prospect. There is ~500 metre wide magnetic high corridor that trends NE-SW,parallel to the Day Cove Thrust fault. Interpreted east-weststructures that are oblique to the main regional trend may helpexplain the clusters of grab samples with anomalous goldmineralization. Trenching and drilling will evaluate the continuityand orientation of gold mineralization in this area with at least tendrill holes planned. Initial drill holes will be short in order toconfirm the vertical continuity of mineralization identified atsurface. If warranted by the initial drill holes, steeper and deeperholes will be drilled to test the continuity, thickness and grade ofgold mineralization.
Canstar wishes to acknowledge its deep appreciation tothe Government of Newfoundland and Labrador for the airbornegeophysical surveys conducted across most of the Golden Baie property. The surveys and maps provided are extremely beneficial to juniorexploration companies like Canstar. We would also like to acknowledgethe Government of Newfoundland and Labrador’s financial support ofthe 2021 exploration program through the Junior Exploration AssistanceProgram.
Figure 4 - Gold in soil anomaliesand rock samples at the Blow Out Prospect
Golden Baie Project Overview
The Golden Baie Project has mineral occurrences atsurface spanning 40 km along strike (Figure 1). The mineralizationgenerally occurs subparallel to a major regional thrust fault, the DayCove Thrust, in rocks associated with metasedimentary and metavolcanicrocks of the Bay d’Espoir Group in the Dunnage Zone (Figure 5). The Day Cove Thrust is believed to be the tectonic boundary betweenthe Exploits Subzone of the Dunnage Zone and the Gander Zone insouthern Newfoundland and it may be a continuation of the Gander RiverUltramafic Belt (“GRUB line”) to the north.
The Golden Baie property has undergone majordeformation as evidenced by mylonitization of the Baie d’EspoirGroup extending several kilometres to the northwest from the Day CoveThrust, across the Golden Baie property. Regional structures, such asthe Collins Brook and Le Pouvoir faults, run subparallel to the DayCove and there are defined and inferred secondary structures that areoblique to the regional faults. Deep rooted mineralizing fluids arebelieved to have used these structures as conduits and are importantfor guiding exploration efforts to areas with potentially highergrades or larger volumes of gold mineralization.
Figure 5 - Golden Baie simplifiedlithology map with key faults (based on work by Evans, 1996, andDickson, 1988)
QAQC:
All rock and soil samples were collected by companypersonnel and sent to Eastern Analytical of 403 Little Bay Road,Springdale, NL, a commercial laboratory that is ISO/IEC 17025accredited and completely independent of Canstar Resources Inc. Mostrock samples were crushed to 10 mesh (2000 ?m) and a 250g splitpulverized to 150 mesh (89 ?m). The 2020 channel samples wereentirely pulverized to 150 mesh (89 ?m). Splits of the pulverizedsamples were analyzed for gold using fire assay (30g) with AA finishand an ICP-34, four acid digestion followed by ICP-OES analysis for 34additional elements. Soil samples were dried and sieved to 80 mesh(177 ?m) and a split analyzed for gold using fire assay (30g) with AAfinish and an ICP-34, four acid digestion followed by ICP-OES analysisfor 34 additional elements. In addition to Eastern Analytical’squality control program of standards, blanks and duplicates, Canstarutilizes its own reference materials to ensure data quality.
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 (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, President & CEO
Email: rob@canstarresources.com
Phone: 1-416-884-3556
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 ofmarket conditions. Factors that could cause actual results to differmaterially from such forward-looking information include, but are notlimited to failure to identify mineral resources, failure to convertestimated mineral resources to reserves, the inability to complete afeasibility study which recommends a production decision, thepreliminary nature of metallurgical test results, delays in obtainingor failures to obtain required governmental, environmental or otherproject approvals, political risks, inability to fulfill the duty toaccommodate First Nations and other indigenous peoples, uncertaintiesrelating to the availability and costs of financing needed in thefuture, changes in equity markets, inflation, changes in exchangerates, fluctuations in commodity prices, delays in the development ofprojects, capital and operating costs varying significantly fromestimates and the other risks involved in the mineral exploration anddevelopment industry, an inability to predict and counteract theeffects of COVID-19 on the business of the Company, including but notlimited to the effects of COVID-19 on the price of commodities,capital market conditions, restriction on labour and internationaltravel and supply chains, and those risks set out in the Company’spublic documents filed on SEDAR. Although the Company believes thatthe assumptions and factors used in preparing the forward-lookinginformation in this news release are reasonable, undue reliance shouldnot be placed on such information, which only applies as of the dateof this news release, and no assurance can be given that such eventswill occur in the disclosed time frames or at all. The Companydisclaims any intention or obligation to update or revise anyforward-looking information, whether as a result of new information,future events or otherwise, other than as required by law.
1 Historic samples were notcollected by the Company and have not or cannot be verified foraccuracy.
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