Canstar Resources Announces Completion of Phase I Drilling

Canstar Resources Announces Completion of Phase I Drilling


Related Document

TORONTO, March 18, 2019– CANSTAR RESOURCES INC. (TSXV: ROX) (OTCQB:CSRNF) (“Canstar” or “the Company”) is pleased to provide results from its recently completed Phase I exploration program at the Mary March Joint Venture where Canstar is the operator and majority (56%) partner with Glencore (44%).

 

Phase I Drilling and downhole EM at Buchans-Mary March

Phase I consisted of 1,901 metres of drilling in five drill holes as outlined in Figure 1 (note Hole MM-19-39 and MM-19-40 were collared at the same location) as well as downhole EM surveys on three of the five drill holes. As disclosed in Canstar’s News Release dated December 13, 2018, the goal of Phase I was to test the mineralized horizon at the top of the extensively altered Mary March panel and included a deep hole (MM-19-36) measuring 538.8 metres testing underneath historical drill hole MM-294-7 as well as testing the Mary March horizon to the southwest which has seen little historic drilling. Notable intercepts include:

 

Drillhole

From

To

Interval (m)

Zn %

Cu %

Pb %

Ag g/t

Au g/t

MM-19-36

108.1

108.2

0.1

0.01

1.84

0.05

42

0.209

 

462

463

1

0.72

0.04

0.003

2.0

0.899

MM-19-37

7.0

13.0

6.0

0.52

0.02

0.05

1.1

0.043

Including

9.0

10.0

1.0

2.01

0.07

0.03

1.5

0.041

 

38.3

44.4

6.1

0.56

0.09

0.07

1.1

0.030

Including

41.3

42.3

1.0

1.94

0.06

0.06

2.5

0.058

MM-19-38

60.3

61.8

1.5

0.72

0.10

0.002

0.6

0.014

 

130.1

130.4

0.3

0.59

0.21

2.19

8.2

0.016

 

Canstar will follow up its initial drill program with a ground based regional lithogeochemical program, mapping and prospecting, coupled with core review and a structural re-interpretation, to refine future drill targets, in what Canstar believes is a target rich environment, on a significant land package that has received little sustained attention in over twenty years.

 

Bob Patey, VP Exploration commented: “The winter drill program provided valuable information on structure and alteration in the Mary March area which will help target the next phase of exploration. Strongly altered felsic rocks of the Mary March Panel were encountered in drill holes MM-19-36, 37, 38, and 40. Drill holes MM-19-37 and MM-19-38 also sampled low grade mineralization in the Nancy April footwall which is also a target for future exploration.”

 

“Mary March represents a significant fault bounded high grade massive sulphide intersection within a setting where the style, size and strength of the mineralization and alteration are commensurate with the potential to host a significant VMS deposit.” stated Kerry Sparkes, Technical Advisor to Canstar.

 

Figure 1 – Phase 1 Drill Hole locations at Mary March

 

Quality Assurance and Quality Control

All assay samples have been monitored through a quality control and quality assurance program. Logging and sampling were done at a secure facility in Millertown. Core selected for sampling was sawn in half with half, tagged and securely packaged for shipment to the laboratory. Quality control standard and blank samples were inserted periodically making up 10% of the samples submitted. All assay work was done by Eastern Analytical in Springdale, Newfoundland and Labrador, using an aqua regia digestion with atomic absorption finish method. Samples exceeding the detection limit were subjected to an ore grade assay utilizing a multi-acid digestion and an atomic absorption finish for which the laboratory is ISO 17025 certified.  Gold was assayed by fire assay with an atomic absorption finish for which the laboratory is ISO 17025 certified.

 

 On behalf of the Board,

 

Christos Doulis,

President & CEO

 

QAQC

 

Qualified Person

Bob Patey, B.Sc. / P. Geo, Vice President Exploration and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed and approved this release.

 

About Canstar Resources

Canstar Resources is a Canadian mineral exploration and development company, with the objective to discover and develop economic mineral deposits in North America. Currently, Canstar’s focus is to advance its flagship Mary March project and other mineral exploration properties in Newfoundland and Labrador. Canstar is based in Toronto, Canada and is listed on the TSX Venture Exchange and trades under the symbol ROX-V, and on the OTCQB Exchange under the symbol CSRNF.

 

For further information, please contact:

 

Christos Doulis,

President & CEO

Tel:  647-557-3442

Email:  cdoulis@canstarresources.com

 

www.canstarresources.com

 

Forward-looking Statement

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” which are not comprised of historical facts. 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. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Subscribe to our Email List