Canstar Commences Drill Program Targeting High Priority Geophysical Anomalies
Toronto, Ontario - August 14, 2014. Canstar Resources (Canstar; TSX.V: ROX) is pleased to announce the commencement of a summer exploration drilling program. The program follows up a series of geophysical programs aimed at providing substantive exploration targets. Five holes have been designed to test two borehole electromagnetic (BHEM) and several induced polarization (IP) anomalies (see press release dated June 25, 2014). These targets coincide with areas where mineralization is known to occur on the property but has never been detected using modern geophysical methods. The two key areas of exploration on the property will be the Mary March Zone, which represents the discovery area on the property, and the Nancy April Zone which occurs further to the southwest.
Mary March Zone
Results from Canstar’s Fall 2013 drilling program confirmed the continuity of massive sulphides at the Mary March Zone both along strike and at depth. BHEM work that followed up this drilling indicate an offhole anomaly downdip and to the east of these intersections. Two targets will be tested from these data.
Nancy April Zone
A recent IP survey over the Nancy April area was designed to follow up on 2013 drilling results which confirmed the continuity of a previously recognized mineralized stockwork zone in the Nancy April area, located 500 meters southwest of the Mary March zone. Preliminary results from the IP survey indicate this area has continuous chargeability along strike in this vicinity with concomitant lower resistivity. This is consistent with a mineralized-type anomaly and is interpreted to represent the geophysical response from a stockwork zone. Stockwork zones are important indicators of VMS systems and represent the lower root zones of these types of orebodies through which metal-bearing fluids percolate to an upper main zone. Stockworks are also important sources of copper mineralization in many VMS systems.
The highest chargeability measurements are noted to occur in areas proximal the area targeted during the Fall 2013 drilling program and exhibit a notable increase in magnitude to the southwest. These targets are currently being modeled in 3D in order to refine how and where they occur down to depths of greater than 200 meters.
Danniel Oosterman, P.Geo is President and Chief Executive Officer and is a Qualified Person as defined by NI 43-101 and is responsible for the technical information in this release.
On behalf of the Board of Directors,
President & CEO
Danniel J. Oosterman, P. Geo.
President & CEO
Director Corporate Communications
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 includes certain “forward-looking statements”. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.