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Goldstar reports initial reconnaissance prospecting results at Victoria Lake Tin Property in New Brunswick, Canada

Thu, 7th Dec 2017 20:01


Goldstar reports initial reconnaissance prospecting results at Victoria Lake Tin Property in New Brunswick, Canada

MONTRÉAL, QUÉBEC--(Marketwired - Dec. 7, 2017) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

Goldstar Minerals Inc. ("Goldstar" or the "Company") (TSX VENTURE:GDM) is pleased to announce that it has received results from the initial reconnaissance prospecting at its Victoria Lake Property, located in New Brunswick, Canada.

The Victoria Lake Tin Property extends East-West over a distance of nearly 20 kilometres from the Mount Pleasant area to the southeast of Victoria Lake. The property immediately borders to the south the former Mount Pleasant tungsten and molybdenum mine owned by Adex Mining Inc. which has published a National Instrument 43-101 indicated resource of 12.4 million tonnes at 0.38% tin (Sn), 0.86% zinc (Zn) and 64 ppm indium (In). Access to the property remains excellent all year round and is close to infrastructure.

The prospecting was following up some of the numerous historical and previously identified tin occurrences in the eastern region of the property. Highlights of the prospecting are detailed below.

Samples returned tin and silver at surface.

A total of 5 samples were collected within an area roughly 1.5 km by 1.5 km from highly altered granitic rocks, often designated as greisens.

Sample number Type Tin (Sn) in % Silver (Ag) in g/t
E6648188 Outcrop 0.03 1.0
E6648189 Outcrop 0.20 2.0
E6648190 Boulder 0.22 19.0
E6648191 Boulder 0.35 2.0
E6648192 Outcrop 0.32 1.0

Of note, the sample E6648188 that yielded low tin is characterized by a relatively high sulfide content (3-5%) which can be useful as a discriminant tool for geophysical surveys.

Assays were performed at AGAT Laboratories located in Mississauga, Ontario using peroxide fusion and ICP finish. These are grab samples that are not necessarily representative of the mineralization hosted on the property. Due to the small number of samples, no standards, blanks or duplicates were inserted.

Next steps

The exploration team will prepare and design a detailed prospecting program, including airborne surveys, for the summer of 2018. The Company is aiming to start a modest reconnaissance drilling program in early 2019 that will investigate potential mineralized systems. Access for drilling is excellent all year long and easy logistics are expected.

Benoit Moreau, President and CEO of Goldstar comments: "The Victoria Lake Project is still in the early stages and we are very pleased to confirm outcrops with grades similar to already identified tin occurrences. The upcoming detailed geophysics and prospecting in 2018 will allow for a more complete understanding of the mineralization and how it relates to regional structures. At the present time the exploration team continues to be focused on the upcoming drilling campaign at the Lake George project where we have identified significant gold bearing structures from outcrops including the WLF zone which averages 1.0 g/t Au over an area 100m x 25m."

Updated corporate presentation

The company's corporate presentation has been updated with all the information from this year's field work. Investors can obtain from the company's web site at the following link: https://www.goldstarminerals.com/documents/en/2017/corporate_presentation.pdf.

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.

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.

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.

Goldstar Minerals Inc.
Benoit Moreau
President and Chief Executive Officer
514-591-8058
bmoreau@goldstarminerals.com

Goldstar Minerals Inc.
Francois Perron
Director
416-312-4811
fperron@goldstarminerals.com

© 2017 Nasdaq, Inc. All rights reserved.





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