SCOTTSDALE, AZ–(Marketwired – May 26, 2017) – TriStar Gold Inc. (the “Company” or “TriStar”) (TSX VENTURE: TSG) is pleased to provide an update on the drilling at Castelo de Sonhos. To date, 18 reverse circulation (RC) holes have been completed for 2,090 m. These drill holes include three twin redrills of core holes, with the remainder being 100 x100m in-fill drilling on the southwestern limb to add to Inferred resources for the upcoming preliminary economic assessment (PEA). Nick Appleyard, TriStar’s President and CEO commented: “The quality of samples and field data that we are collecting is excellent. The optical televiewer images have surprised all of us with their clarity, allowing for a level of detailed logging better than we could have achieved with drill core.”
The field trial of the optical televiewer (OTV) and petrophysical downhole logging has been completed and 20 holes have been logged (this includes 12 core holes and 8 RC holes). Although all the data have not yet been fully analyzed, the results are very promising. The OTV has been returning superb images from inside the RC holes; this allows for accurate logging and measurement of all downhole features, as can be seen from Fig. 1. The field trial also confirms that the magnetic susceptibility log does correlate with heavy mineral layers, and, in places, also with gold grade; this is likely a reflection of the association of different types of heavy particles in a paleo-placer environment. If this association persists over large regions, magnetic susceptibility may have a beneficial role not only in making resource and reserve estimates more reliable, but also in improving grade control.
Samples have been shipped to Parauapebas, Pará State, where pulp material is prepared and shipped to Belo Horizonte, Minas Gerais, for analysis. Both facilities are run by SGS Geosol, an ISO 9001:2008 and 14001:2004 certified laboratory which employs industry-standard methods for sample preparation and analysis. As part of TriStar´s QA/QC protocol, standard, blanks and field duplicates were inserted into the sample processing stream at a rate of one per 10 samples. Internal laboratory duplicate and replicate samples also form part of the QA/QC protocol. Once the analysis of the twin holes and the QA/QC program are complete, likely in June, TriStar plans to publish drill results and to update this information on a monthly basis as drilling continues through the summer.
TriStar had completed arrangements for two additional RC rigs to begin drilling this month. One will initially target the southwestern limb with 50x50m drilling aimed at augmenting Indicated resources in this area. The other will target the northern end of Esperança Center with infill holes.
TriStar’s Vice-President, R. Mohan Srivastava (P.Geo.), is the QP for this press release and has prepared or supervised the preparation of the scientific or technical information in this press release.
About TriStar:
TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have potential to become significant producing mines. The Company’s current flagship property is Castelo de Sonhos in Pará State, Brazil. The Company’s shares are listed on the TSX Venture Exchange under the symbol TSG. Further information is available at www.tristargold.com.
Neither the 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Statements
Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation which are not historical facts and are made pursuant to the “safe harbour” provisions under the United States Private Securities Litigation Reform Act of 1995. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects” or “it is expected”, or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward looking statements in this press release include, the scope and success of the planned exploration program at the Castelo de Sonhos project and the Company’s opinion that it has clear title to the Castelo de Sonhos property Such forward-looking statements are based upon the Company’s reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause the Company’s plans to change include changes in demand for and price of gold and other commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments in Brazil; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of the Company’s projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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For further information, please contact:
TriStar Gold Inc.
Nick Appleyard
President and CEO
480-794-1244
[email protected]
