Key Highlights:
October 26th, 2017: Redstar Gold Corp. (TSX.V: RGC, OTCQB: RGCTF, FRA: RGG) ("Redstar" or the "Company") is pleased to announce that the completion of the 2017 Fall Drill Program at its 100% controlled Unga Gold Project. The drill program totaled 2,641m in 13 drill holes and tested three targets within the Shumagin Gold Zone (Main Breccia, Bunker Hill and East Zone) and the Rising Sun Gold Zone in the Apollo-Sitka Gold Trend.
“We are excited to have intersected not only Shumagin-style breccias in the recent drill program at the Main Breccia, Bunker Hill and East Zones at Shumagin, but to have also intersected Colloform-textured carbonate breccias in all holes that reached the footwall portion within the vein structure, which historically have yielded positive drill assay results. In addition, preliminary drilling at the Rising Sun Gold Zone in the southern Apollo-Sitka Trend intersected Shumagin style breccias and stockwork. This is adjacent to the Apollo Mine which produced from the oxide ore for about 30 years. This is the first step in confirming the district scale nature of the Unga Gold Project. Multiple (>14 identified) gold zones remain to be tested within the district at the Unga Gold Project, and we are pleased our first attempt is providing encouraging drill core,” said Redstar’s President & CEO, Peter A. Ball.
Shumagin Gold Zone (Main Breccia, Bunker Hill and East Zone) Drilling Summary
At the Shumagin Gold Zone, which consists of three zones (Main Breccia, Bunker Hill, East), eleven (11) drill holes totaling 2,407m were completed over approximately 750m of strike length (Grid Line 2900E to 3600E) with depths ranging from -85m to -225m below sea level. These drill holes targeted three priority breccia bodies/zones interpreted to exist within the Shumagin Gold Zone that were previously tested (Main Breccia and Bunker Hill Zones) during 2015/2016 (e.g. drill holes 16SH021 through 16SH025; see press release dated January 19, 2017), and in addition the newly identified East Zone interpreted to exist along strike east of the Bunker Hill Gold Zone.
The breccia bodies discovered in late 2016 at the Bunker Hill Gold Zone consist of moderate-dipping Shumagin-style quartz-adularia +/- carbonate (+/- rhodochrosite) breccias localized within a shallower hanging-wall position and a steep, high-grade colloform textured, carbonate-green-clay+pyrite breccia that was previously (in 2016) intercepted deeper within the footwall (16SH023; 0.3m @ 34.5g/t Au and 16.45g/t Ag).
In the 2017 Fall Drill Program at the Shumagin Gold Zone, Shumagin-style breccias were intersected in all eleven (11) drill holes and Colloform-textured carbonate breccias in eight (8) drill holes. Three (3) drill holes did not reach depths within the footwall necessary to intersect the colloform-carbonate breccias due to drill rig problems. Newly drilled intercepts of colloform-carbonate breccias occur over an approximate strike length of 615m, and occur in a geologic “boiling zone” at consistent elevations approximately -80m to -125m below sea level.
Colloform textures are indicative of active boiling and mineral deposition during hydrothermal activity within the vein system and commonly found in high-grade vein systems globally. The newly drilled textures show strong resemblance to the early-stage high-grade colloform-carbonate-pyrite breccias previously drilled in 2015 within the Main Breccia such as Hole 15SH012; {64-66m} 2.0m @ 35.25 g/t Au & 209 g/t Ag). These colloform-carbonate-pyrite breccias are cross-cut by later Shumagin-style, Rhodochrosite-bearing breccias where gold-silver grades are amplified (such as in 2015 drillhole 15SH012 {89-89.7m} 0.7m @ 133 g/t Au & 422 g/t Ag).
Figure 1: Long Section - Shumagin Gold Zone: Main Breccia, Bunker Hill and East Zones
Figure 2: Plan Map - Shumagin Gold Zone: Main Breccia, Bunker Hill and East Zones
Rising Sun Gold Zone Drilling Summary
An additional two (2) drill holes, totaling 233.9m, were completed at the Rising Sun Gold Zone near the historic Apollo Gold Mine, in the southern Apollo-Sitka Trend. These holes were designed to test breccias and stockwork that are exposed at the surface that occur sub-parallel to the main Apollo Gold Zone.
Shumagin-style breccias and stockwork were successfully intersected in both drill holes, and are similar to those that occur historically along the Apollo-Sitka Trend and those that were mined over 100 years ago from the late 1880s to early 1920s. This is the first test outside of the Shumagin Gold Zone, and is a positive indication of further upside potential across the Unga Gold Project District.
In addition to the diamond drill program, follow-up prospecting pits excavated near areas of anomalous gold and pathfinder elements from previously gridded soil samples surrounding the Saddle Creek and High-Grade Scarp anomalies resulted in the discovery of numerous quartz-boulders within the anomalous zones. 25 rock samples were taken from these two prospects.
Figure 3 – Unga Gold Project
A total of 702 drill core samples were taken during the 2017 fall drill program where 591 samples were taken from Shumagin and 111 samples were taken from Rising Sun. Drill core, rock and soil samples have now been sent to the assay lab, and the Company anticipates assay results to be available by December 2017. A follow-up drill program is expected to continue once assay results are received and reviewed and after the completion of a National Instrument 43-101 Technical Report anticipated to be filed by Q1 2018.
Jesse C. Grady, MSc, CPG-11592, Vice President of Exploration for Redstar Gold Corp. is a Qualified Person as defined by NI 43-101. Mr. Grady has prepared and approved the technical information contained within this release.
About Redstar Gold Corp.
Redstar is well-financed junior exploration company, with a very strong, supportive institutional shareholder base, no debt, and is focused on high-grade gold exploration and advancing its high-grade Unga Gold Project in Alaska. The 100% controlled Unga Gold Project is an intermediate sulfidation epithermal high-grade gold project on a district scale, with the property encompassing approximately 240 km2, and containing multiple high grade gold zones drilled or identified at surface. The former Apollo-Sitka gold mine, located on the southern Apollo-Sitka Trend, was Alaska’s first underground gold mine and the site of historic high-grade (~10 g/t Au) gold production. The Unga Gold Project has extensive infrastructure with daily flights from Anchorage landing on a one mile long paved airstrip and a deep-water port on neighboring Popof Island, and a moderate climate noting it resides at the 55th degree latitude and next to tidewater. In addition, Redstar owns approximately 19.5% of NV Gold Corp. (TSXV: NVX). Redstar also owns 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada.
On Behalf of the Board of Directors,
Peter A. Ball, President and CEO
For additional information please contact:
T: 604.245.5861
TF: 877.310.3330
E: pball@redstargold.com
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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 guarantees 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.
