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GDM Goldstar Minerals Inc

0.115
0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Goldstar Minerals Inc TSXV:GDM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.115 0.11 0.115 0 01:00:00

Goldstar Adds Antimony Focus, Issues Corporate Update

07/07/2014 2:32pm

Marketwired Canada


NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES 

Goldstar Minerals Inc. ("Goldstar" or "the Company") (TSX VENTURE:GDM) issues
the following corporate update pertaining to the company. 


Expanded Claim Staking on New Brunswick Property Targets Antimony

Following the mineral option and sale agreement with Charles Morrissy concluded
last February, the Company has expanded the property size from 7.5 km2 to 52.8
km2 with the acquisition of an additional 195 claims for a total of 241 claims
through the New Brunswick Department of Energy and Mines claim staking system.
The property now completely surrounds the mining lease that comprises the former
Lake George antimony mine. 


Goldstar Sharpens Focus on Strategic Metals - Antimony and Tungsten

The Lake George property was initially acquired for its tungsten potential where
limited historical drilling had uncovered a broad zone of mineralization.
Following additional data compilation and integration, the Company has
identified an intrusive body, approximately 2 km in diameter to the north, that
may also be the source of the antimony mineralization system observed at the
former mine. This extensive data interpretation led Goldstar to expand the Lake
George property to fully encompass the intrusive body and its related structural
features. Three (3) high-priority prospective sectors were delineated for
antimony and will require detailed exploration, including diamond drilling. 


About Antimony 

Since September of 2012, the British Geological Survey (BGS) has included
antimony and tungsten at the top of their Technology Metals Risk List which
ranks the threat to the global supply of metals and other elements that are
vital to our modern economy: "high-technology, 'critical' metals such as rare
earths, tungsten and antimony where production and resources are concentrated in
a few countries... are at greater risk of supply disruption." (BGS press release
- 19th September 2012). 


According to industry and government reports, China, which has been a leading
producer and top reserve holder has started to restrict exports and become a net
importer of antimony ore owing to industrial demand.  


Antimony is used in numerous and various industrial applications such as in
fire-retardants and plastics - antimony increases flame retardant effectiveness
when it is used as a synergist with halogenated flame retardants in plastics,
paints, adhesives, sealants, rubber and textile back coatings. Antimony is also
used as a major catalyst in the manufacture of PET plastic (Polyethylene
terephthalate) used as drinks' bottles and packaging. Finally, highly pure
antimony (99.999%) is used in semi-conductors in the computer industry. 


From 2002 to 2013, the price of antimony increased from US$2,000/t to
US$11,000/t, peaking at US$18,000/t in 2011: its current price is approximately
US$13,000 per metric ton and industry consensus expects it could reach US$25,000
by 2020. 


Results of 2014 Annual General and Special Meeting

Finally, all the three Board directors, Stephen Butrenchuk, Benoit Moreau and
Francois Perron, were elected for another term. Benoit Moreau, David Johnston
and Ercan Ugur were reappointed as Chief Executive Officer, Corporate Secretary
and Chief financial Officer, respectively, of the Company. KPMG were appointed
as Company auditors. The Company's stock option plan was also extended for the
current fiscal year.


Qualified Person 

The scientific and technical information in this news release has been reviewed
and approved by Benoit Moreau, Goldstar Minerals President and CEO, a
professional engineer and a qualified person as defined by National Instrument
43-101. 


About Goldstar Minerals Inc. 

Goldstar Minerals Inc. is a mineral exploration and development stage company
listed on the TSX Venture Exchange under the symbol GDM. Currently, its
exploration and development projects are located in New Brunswick and Quebec.


Safe Harbour

This press release is not an offer or a solicitation of an offer of securities
for sale in the United States. The securities have not been and will not be
registered under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration.ex


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 may contain forward-looking statements. These statements are
based on current expectations and assumptions that are subject to risks and
uncertainties. Actual results could differ materially because of factors
discussed in the management discussion and analysis section of our interim and
most recent annual financial statement or other reports and filings with the TSX
Venture Exchange and applicable Canadian securities regulations. We do not
assume any obligation to update any forward-looking statements, except as
required by applicable laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Benoit Moreau
Chief Executive Officer
514.591.8058
bmoreau@goldstarminerals.com

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