Tickers: PINX:RGCTF, XTSX:RGC
Tags: #Mining
HIGHLIGHTS:
- New drill targets defined on an extension of the Shumagin Zone (now called SH-1 Zone) and at Bloomer Ridge and the Aquila Zone on the Shumagin Trend.
- Mapping program made new surface gold discoveries of 104g/t, 27g/t, and 21g/t Au above unmined areas at the historic Apollo Mine.
- Bloomer Ridge confirmed as a prospect with structural and geochemical similarities to SH-1 with surface samples up to 4.7g/t Au.
- Results add to understanding the structures that control gold distribution and which will guide future exploration at the Unga Project.
- Redstar is working towards completing a maiden 43-101 Resource on SH-1 Zone in Q1.
Vancouver, Canada - TheNewswire - January 13, 2020 - Redstar Gold Corp. (TSXV:RGC) (OTC:RGCTF) (FRA:RGG) ("Redstar" or the "Company") is pleased to announce that structural mapping of the Shumagin and Apollo Sitka Trends has been completed. The Study's purpose is to better understand the setting and controls of the SH-1 Zone (formerly "The Shumagin Zone") and of the gold-bearing systems on Unga Island as a whole. The study was completed by Craig Pearman BSc (Geo), formerly the Chief Geologist for Kinross in West Africa. The mapping program was focused on five of 40 distinct high prospectivity areas within the Unga Project outlined by previous drilling and surface sampling of mineralized outcrop. These targets include: the extension of the SH-1 Zone, Bloomer Ridge and Aquila on the Shumagin Trend; and brownfields targets at the Apollo and Sitka historic mine sites, as well as at Empire Ridge and Rising Sun prospects which lie along strike on the Apollo-Sitka Trend.
Redstar President John Gray said the following: "This structural mapping exercise has added significantly to understanding what controls mineralization at the Unga Project and opens up several new, high probability drill targets adjacent-to and on-strike with known high grade gold and base metal zones on the Shumagin and Apollo-Sitka Trends which will be pursued during the 2020 field season. We are also working on a Maiden NI43-101 compliant resource on the Shumagin Zone (now SH-1) to be completed in Q1 and provide a resource as a foundation upon which to build value for Redstar shareholders".
View southwest of the SH-1 (Shumagin) Zone showing new structural interpretation
(Figure 1)
Click Image To View Full Size
The key findings of this work are as follows:
a)The SH-1 Zone (formerly the Shumagin Zone): An interpretation of surface linear features shows that high grade gold bearing structures on the Shumagin Trend are located tangentially to dacitic intrusives. This is analogous to some gold deposits in the Refugio mining district in Chile. One of these linears indicates that the western extension of the SH-1 Zone is a southwest striking splay that extends toward Pray's Vein. Surface samples taken by Redstar at Pray's Vein have returned up to 11.8g/t Au, and a historic drill hole by Battle Mountain Gold in the late 1980s returned an assay of 2.4m grading 0.18g/t Au + 6.9g/t Ag when the hole was abandoned at -45m down-hole. In the diagram (Fig 1), pink polygons are high prospectivity drill targets and irregular circulars are suspected dacite intrusives. This interpretation suggests that the mapped structure between the SH-1 Zone and Pray's Vein may be the western extension of the SH-1 Zone and is a high priority drill target.
b)Apollo-Sitka Trend: The mapping shows that historic mining at Apollo-Sitka was focused on dilational structures resulting from rotation of the strike direction within a shear duplex. This exercise revealed a new dilational structure in the immediate area of the historic Apollo mine. Furthermore, surface sampling returned assays including 104g/t Au located immediately above previously mapped mine workings where significant amounts of sulfide-hosted gold and base metal mineralization was abandoned at the turn of the 19th century as untreatable in the original stamp-mills. The underground workings, mapped and sampled by Alaska Apollo Mining in the 1990s, followed a vein for 500m of strike and returned underground assays up to 6m grading 8g/t Au with Ag+Pb+Zn credits (Fig 2). The presence of a near mine, untested dilational structure as well as high grade samples at surface with historically recorded mineralization underneath has yielded two high probability drill targets.
Long section of Historic Apollo-Sitka Mine looking NNW showing unmined blocks,
underground mapping and sampling, and recent surface sampling by Redstar in 2019
(Figure 2)
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c)Bloomer Ridge: Bloomer Ridge is located 800m south of, parallel to and 200m topographically higher than the high-grade SH-1 Zone. Ubiquitous millimetric scale, iron oxide bearing, quartz-carbonate veining has been mapped which contains up to 4.7g/t Au from surface sampling (Redstar 2019) along 1.4km of strike (Fig 3). The close proximity to and similarity in style of mineralization to that of the SH-1 Zone indicates the Bloomer Ridge gold may be from the same source. Further, as the Ridge is higher than the SH-1 Zone, the underlying mineralization may be better preserved than that of the SH-1 zone which means that Bloomer Ridge is a high priority target for further mapping and eventual drilling.
Bloomer Ridge & SH-1 Zone
(Fig. 3)
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d)Aquila: Sampling and drilling by Battle Mountain in the 1980s returned assays up to 30g/t Au at surface and assays from drill results that included 0.46m grading 103g/t Au in DDH AQAME02 which was abandoned at -48m down-hole. 2019 mapping shows two zones within a shear duplex occurring tangentially to and within 400m of a centrally located dacitic intrusive (Fig 4). The dilational nature of the structures at Aquila supported by high grade assays from previous drilling means that the Aquila Zone is a high probability target for further drilling.
Structural interpretation locates historic, high grade gold bearing structures
within a shear duplex at the Aquila Zone
(Fig. 4)
Click Image To View Full Size
Qualified Professional
The field work and interpretation for this structural mapping exercise was completed by Craig Pearman B.Sc. (Geology) who has twenty-four years of international experience including generating 3D structural-mineralization models for 20 resource stage mining projects with follow-up drill recommendations. Craig's career has spanned roles as President & CEO of Midlands Minerals (latterly Rosita Mining), Chief Exploration geologist for Redback and Kinross in Ghana, and as a Consultant and Senior Exploration Geologist for Newmont, Goldfields, JCI and Birim Goldfields in east and west Africa. Craig is a qualified person under JORC rules.
About Redstar Gold Corp
Redstar is a well-financed junior exploration and development company with a strongly supportive institutional shareholder base, no debt, and is focused on high-grade gold exploration and advancing its Unga Gold Project in Alaska. The 100% controlled Unga Gold Project is a high grade, intermediate sulfidation, epithermal gold project on a district scale. The property encompasses approximately 240km2 and contains multiple gold and base metal zones drilled or identified at surface including the former Apollo-Sitka gold mine, located on the southerly Apollo-Sitka Trend which was Alaska's first underground gold mine and the site of historic high-grade (~10 g/t Au) gold production (Fig 5).
The Unga Gold Project benefits from a moderate climate at latitude 55 degrees North next to year-round tidewater with extensive infrastructure including a deep-water port and is served by daily flights from Anchorage landing on a mile long, paved airstrip on Popof Island. In addition to the Unga Project, Redstar owns approximately 5 million shares of NV Gold Corp. (TSXV: NVX) and 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada.
Gold and Base Metal Prospects On Unga Island and Neighbouring Popof Island
(Fig 5)
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For additional information please contact:
John A. Gray
President
Tel: +44 747 068 6474
Email: j.gray@redstargold.com
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.
Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corporation (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results may differ materially from those in the forward-looking statements.
Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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