Tickers: PINX:RGCTF, XTSX:RGC
Tags: #Mining
HIGHLIGHTS:
- 2019 Exploration Program initiated at Unga Project to define drill targets
- 1.7km Shumagin Zone, within 9.5km Shumagin Trend, remains at the heart of exploration activity
- Shumagin has strong expansion potential along strike for an additional three (3) kms towards Orange Mtn.
- Exploration program encompasses 7 objectives including infill drilling and extension of the Shumagin Zone located east of Orange Mountain
- Zachary Bay prospect moved up the priority list based on Work completed by Mine Development Associates
Vancouver, Canada, August 27, 2019 - Redstar Gold Corp. (TSX.V: RGC, US: RGCTF, FRA: RGG) ("Redstar" or the "Company") is pleased to announce that the Company's technical team has been mobilized to the Unga Gold Project to commence the next phase of exploration. The program's priority is to define drill targets in areas previously shown to contain gold including the Shumagin and Apollo-Sitka Trends on Unga Island, the Centennial deposit & other gold bearing structures on Popof Island and 38 other precious metal and polymetallic prospects on Unga and Popof.
Redstar President John Gray commented - "Redstar has launched a campaign to prioritize the most prospective areas for drilling. The campaign is informed by a wealth of data from previous mining and exploration activity which reaches back to the end of the 19th century when the original Apollo-Sitka mine on Unga closed because the stamp mills then installed were not able to process the primary, sulphide mineralization which remains unexploited yet contains significant grades of gold, silver, lead and zinc beneath the oxide layer. More recent exploration campaigns on Unga and Popof Islands include drilling by Redstar during 2015-2017 which confirmed high grade gold mineralization at the Shumagin Zone on the Shumagin Trend. Other prospects will get attention as time and budget allow, including the flat-lying, near surface, Centennial occurrence on Popof Island close to Sandpoint Port which contains free gold and the Zachary Bay prospect in the north of Unga island where Battle Mountain Gold Corporation drilled a one hundred metre interval of porphyry copper and gold mineralization in the 1980s. The Unga Gold Project contains all mineral systems in the porphyry-epithermal continuum in one property comprising an extraordinary opportunity which Redstar intends to vigorously pursue."
Geological Highlights of the Shumagin Gold Zone and Trend:
- The Shumagin Gold Zone is currently defined over a strike length of approximately 1.7 kms by surface mapping, sampling and drilling.
- Geological mapping and sampling towards the southwest from Shumagin indicate compelling potential for expansion along strike for an additional three (3) kms towards Orange Mountain which is the interpreted hydrothermal centre along the Shumagin Trend.
- The Shumagin Trend is approximately 9.5km long and is a major regional structure responsible for the localization of epithermal mineralization and associated alteration exposed along its strike length.
- Results from the 2016 fall drill program at the Shumagin Gold Zone, indicate that high-grade gold-silver mineralization occurs at depth for approximately 950 meters of tested strike length. Furthermore, its vertical extent remains open at depth across the entire strike length with the deepest hole so far drilled (BMS-01) reaching 270m below sea level and intersecting 5.49m of 24.02g/t Au and 19.40g/t Ag. .
The program is now underway and involves structural mapping as recommended by epithermal geology expert Professor Jeffrey Hedenquist Ph.D. in a report submitted to Redstar following his visit to the Project. In addition, Redstar is conducting selective geophysical and geochemical surveys to support the mapping campaign with the object of generating targets that will consistently intersect high grade gold bearing rock through the next phase of drilling.
Unga and Popof Islands - Areas of known Mineralization and Highly Prospective Gold Anomalies
(Fig.1)
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For the next phase of drilling, based on results of the current work program the priorities are:
1.Infill drilling and extension of the Shumagin Gold Zone located east of Orange Mountain where previous drilling has found ore grade mineralization between Bunker Hill, Main Breccia and Rhodo Breccia.
2.The area west of the Shumagin Gold Zone towards Orange Mountain where the main structure of the Shumagin Trend goes under-cover.
3.The Aquila Zone which lies diametrically opposite the Shumagin Zone at the west end of the Shumagin Trend and where a 1980s drill hole was stopped short in an assay interval of 0.43m grading 94g/t Au at the bottom of the hole. Neither this prospect nor the nearby Normandy vein, which returned assays from grab sampling including 9.4% Zn, 3.7% Pb, 0.3% Cu & 170g/t Ag (i.e. AuEq of 8.3g/t at today's spot prices) and one sample containing 2.6g/t Au, have been comprehensively tested.
4.Priority #4 is Bloomer Ridge which has never been drilled and outcrops less than 1km SE and more than 200m asl higher than the outcropping, high grade mineralization in the Shumagin Zone.
5.Empire Ridge and California prospects which lie immediately SW of the original Apollo gold mine and where surface geochemistry indicates the SW extension of the Apollo-Sitka Trend.
6.The Propalof structure on neighboring Popof Island, which has year-round access.
7.Centennial: flat-lying, near surface mineralization - infill and IP anomaly, targeting potential high-grade feeder.
8.Suzy Rhodo Vein on neighboring Popof Island close to Sand Point port.
The Shumagin Zone Long section looking NW- 950 meters of a 1.7km identified strike length
(Fig. 2)
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Location of Priority targets on the Shumagin Trend
(Fig. 3)
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Location of Priority targets on the Apollo-Sitka Trend
(Fig. 4)
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Location of Priority targets on Popof Island (Fig. 5)
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About the Unga Gold Project
The 100% controlled Unga Gold Project is an intermediate-sulfidation epithermal district located on Unga' and adjacent Popof Island toward the southern end of the Aleutian Arc approximately 950km southwest of Anchorage, Alaska. The 240-km2 property contains numerous volcanic-hosted, structurally-controlled and disseminated gold-silver mineral occurrences localized along two known regional structures, the Shumagin and Apollo-Sitka Trends, each with an approximate strike length of 9 5km. High-grade gold zones drilled or identified at surface occur within dilation zones along these and/or subsidiary structures and are the main exploration target-type for the project. The Shumagin Gold Zone is only one of several noteworthy gold-silver structures found on Redstar's Unga Gold Project and is a high-priority exploration target.
About Redstar Gold Corp
Redstar is a well-financed junior exploration 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 high-grade gold zones drilled or identified at surface. The former Apollo-Sitka gold mine, located on the southerly 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 enjoys 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.
For additional information please contact:
John A. Gray
Redstar Gold Corp.
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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