Exploration Update on Mary March Joint Venture Project: Geophysics indicates conductive core at Mary March
Toronto, Ontario - March 26, 2014. Canstar Resources (Canstar; TSX.V: ROX) is pleased to provide an update on the current exploration activity for its Mary March Project, located near Buchan’s Junction in Central Newfoundland.
The Company’s recent borehole geophysical program conducted on holes drilled during 2013 has provided results that distinguish a high priority drill target near the Mary March massive sulphide zone. All of the holes surveyed clearly point to a more conductive zone downdip and to the east of holes MM13-29 and MM13-30, suggesting the mineralization is open for expansion in these directions.
The Mary March zone is the initial discovery area drilled by Phelps Dodge in 1999 where they encountered impressive grades of 10.1% Zn, 1.68% Pb, 0.64% Cu, 122.1 grams per tonne (g/t) Ag, and 4.2 g/t Au over 9.63 meters. The drilling completed by the Company in the Mary March area successfully added to these results, encountering massive sulphide zones with two separate holes. In drillhole MM13-30, 11.6 meters of mineralization containing 3.6% Zn, 0.1% Cu, 0.8% Pb, 25 g/t Ag, and 1.5 g/t Au; including a 3.6-meter high-grade zone containing 7.5% Zn, 0.04% Cu, 1.37% Pb, 26.1 g/t Ag, and 1.7 g/t Au, and extended the Mary March Zone to depth. In MM13-29, 5.0 meters of mineralization was encountered, containing 4.82% Zn, 0.38% Cu, 1.04% Pb, 71.3 g/t Ag, and 1.8 g/t Au, including 3.5 meters of 6.21% Zn, 0.13% Cu, 1.42% Pb, 82.8 g/t Ag, and 1.9 g/t Au (see Company Press Release dated January 21, 2014).
Results for surveys completed for holes in the Nancy April area, which is located approximately 500 meters southwest of the Mary March zone require more data and investigation, remaining relatively underexplored compared to the Mary March zone.
“This is exciting news for our shareholders and for the Mary March project,” stated Danniel Oosterman, President and CEO of Canstar. “In an area where mineralization is known to give weak responses, we are encouraged to find such an obvious anomaly offhole to known mineralization. Needless to say the company regards this as a high priority target for its next drilling program.”
In light of these results the Company is submitting permitting applications for future exploration work including drilling which is anticipated to commence late spring to early summer. The company will announce each stage of work accordingly.
Mr. Danniel Oosterman, P.Geo., the President and CEO of the Company, is a ”Qualified Person” under National Instrument 43-101 and has reviewed the technical disclosure in this press release.
On behalf of myself and the Board of Directors,
Danniel J. Oosterman, P.Geo President & CEO
Danniel J. Oosterman, P. Geo.
President & CEO
Director Corporate Communications
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