MONTREAL, QUEBEC–(Marketwired – July 10, 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 a detailed ground magnetic geophysics survey has commenced on its Lake George Property, located in New Brunswick, Canada. Goldstar is focused on developing deposits that contain gold in leading mining jurisdictions in Canada.
Géosig Inc. from Québec City, Québec was commissioned to perform a detailed magnetic survey consisting of approximately 130 line-kilometers with stations every 10 metres and lines spaced every 50 metres, covering and comprising 2.5 kilometres of strike length of the presumed Coyote gold zone, the area in the vicinity of hole LG-16-06 and the Waterloo Lake gold zone area, all identified and discovered by diamond-drilling and outcrop sampling last Fall of 2016.
This additional magnetic survey will allow Goldstar to efficiently trench and sample already identified and new potentially gold bearing structures, prior to undertaking a second diamond-drilling program.
Next steps
The Company will integrate the new and detailed magnetic data to the existing survey and determine the position, orientation and length of the most promising areas for trenching, focusing on the Coyote gold zone, the area in the vicinity of hole LG-16-06 and the Waterloo Lake gold zone. Trenching and sampling are expected to commence July 24th 2017.
Based on the results obtained from trenching, Goldstar expects to begin a second diamond drill program at Lake George in the fall of 2017. Access for drilling is excellent all year long and easy logistics are expected.
Benoit Moreau, President and CEO of Goldstar comments: “This new magnetic survey will be performed on a tighter grid consisting of parallel lines that should transect the presumed Coyote gold zone at multiple areas with trenching potential. The Corporation aims to better define the extent of identified gold zones and outline other new promising areas. Goldstar plans to begin its second diamond drilling program at Lake George in the fall.”
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.
Benoit Moreau
President and Chief Executive Officer
514-591-8058
[email protected]
