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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Relevant Gold Corp | TSXV:RGC | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.01 | -3.23% | 0.30 | 0.29 | 0.32 | 0.32 | 0.265 | 0.31 | 34,500 | 20:50:46 |
From May 2019 to May 2024
Redstar Gold Corp. (TSX VENTURE:RGC) is pleased to report additional results from the on-going drilling program at the Newman Todd property in the Red Lake Gold District, Ontario. The work is being funded by the operator, Confederation Minerals Ltd. (Confederation) (TSX VENTURE:CFM). These results are from wide spaced drilling along the Newman Todd Structure ("NTS") where drilling has been continuing since January of 2011. The NTS is a large scale structural zone which is host to widespread high-grade gold mineralization over a strike length of 1.6 kilometres. The highlight hole from the latest results returned 22.0 metres of 5.23 g/t gold from this new high-grade gold discovery. Historical drilling and geophysics indicate that the NTS extends for at least 2.2 kilometres opening up significant expansion potential.
Scott Weekes, President of Redstar states: "This latest batch of results continues to highlight similarities between the Newman Todd project and the alteration and mineralization at Goldcorp's world-class Red Lake Mine 20 kilometres to the southeast. Drill hole NT-076 was drilled into the Hinge Zone and intersected one of the widest intervals of gold mineralization yet at Newman Todd. The Hinge Zone area is becoming one the highest priority target areas at Newman Todd, with nine holes currently completed over a strike length of 400 metres. Eight of the nine holes have intercepts of greater than 10 g/t gold, including a total of 9 intercepts greater than 20 g/t gold and 4 intercepts greater than 30 g/t gold. We continue to be encouraged by the scale and grade of the Newman Todd discovery, and look forward to additional results from the ongoing drill program."
Highlights from recently completed 4 drill holes:
Hot Features
Premium
-- NT-076 intersects 22.0 metres of 5.23 g/t gold including 2.0 metres of
20.15 g/t gold and including 1.0 metre of 41.20 g/t gold.
-- NT-075 intersects 10 metres of 2.27 g/t gold including 0.50 metre of
8.86 g/t gold and 2.0 metres of 7.16 g/t gold including 1.0 metre of
10.80 g/t gold.
Overview of Discovery
Drilling at Newman Todd has discovered multiple sub-parallel zones of high-grade gold mineralization often associated with significant widths of lower grade mineralization (see table 1) in a number of target areas. The Hinge Zone has emerged as a priority target returning some of the highest grades and broadest widths (see Table 2). The Hinge Zone is located at a kink or bend in the NTS and is associated with a distinct magnetic anomaly. In addition, the Hinge Zone has several alteration and mineralization similarities to Goldcorp's high-grade Red Lake mine located 20 kilometres to the southeast.
To date, 44 drill holes have been completed in 2011 and results have been received for 21. Two drills continue to be active on the project and additional results will be released when received.
Table 1. Summary of significant results from recent drilling.
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Hole From (m) To (m) Width (m)(i) Gold (g/t) Section
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NT-074 256.00 268.00 12.00 1.00 1400
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NT-075 169.00 191.00 22.00 1.29 2250
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NT-075 including 175.50 176.00 0.50 8.86 2250
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NT-075 and including 180.00 184.00 4.00 2.90 2250
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NT-075 266.00 267.00 1.00 6.07 2250
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NT-075 341.00 349.00 8.00 1.60 2250
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NT-075 including 344.50 345.00 0.50 5.21 2250
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NT-075 412.00 414.00 2.00 7.16 2250
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NT-075 including 413.00 414.00 1.00 10.80 2250
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NT-076 215.00 216.00 1.00 5.38 1900
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NT-076 240.00 262.00 22.00 5.23 1900
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NT-076 including 240.00 246.00 6.00 8.28 1900
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NT-076 and including 244.00 246.00 2.00 20.15 1900
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NT-076 255.00 262.00 7.00 8.34 1900
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NT-076 including 259.00 262.00 3.00 18.17 1900
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NT-076 and including 261.00 262.00 1.00 41.20 1900
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NT-076 268.00 275.00 7.00 1.69 1900
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NT-076 including 273.00 274.00 1.00 7.81 1900
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NT-077 87.00 88.00 1.00 6.08 2300
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NT-077 339.00 340.00 1.00 5.05 2300
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Table 2. Summary of Hinge Zone results reported to date:
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Hole From (m) To (m) Width (m)(i) Gold (g/t) Section
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NT-062 170.00 175.00 5.00 18.25 2050
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NT-062 including 171.00 173.70 2.70 32.43 2050
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NT-062 and including 173.00 173.70 0.70 103.00 2050
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NT-062 330.00 331.00 1.00 8.86 2050
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NT-063 213.00 213.50 0.50 27.30 2050
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NT-063 243.50 244.00 0.50 8.11 2050
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NT-063 288.00 289.00 1.00 7.66 2050
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NT-042 250.00 251.00 1.00 25.70 1850
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NT-046 171.00 174.00 3.00 10.87 1850
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NT-046 including 173.00 174.00 1.00 23.50 1850
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NT-046 234.60 234.90 0.30 15.70 1850
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NT-053 335.50 336.00 0.50 11.60 1850
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NT-076 215.00 216.00 1.00 5.38 1900
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NT-076 240.00 262.00 22.00 5.23 1900
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NT-076 including 240.00 246.00 6.00 8.28 1900
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NT-076 including 244.00 246.00 2.00 20.15 1900
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NT-076 and including 255.00 262.00 7.00 8.34 1900
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NT-076 and including 259.00 262.00 3.00 18.17 1900
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NT-076 and including 261.00 262.00 1.00 41.20 1900
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NT-076 273.00 274.00 1.00 7.81 1900
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NT-076 240.00 275.00 35.00 3.66 1900
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NT-071 28.00 29.00 1.00 4.94 1700
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NT-071 62.00 72.50 10.50 1.25 1700
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NT-071 including 70.00 70.50 0.50 7.16 1700
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NT-071 138.00 139.00 1.00 10.70 1700
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NT-071 151.00 151.50 0.50 8.88 1700
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NT-071 177.00 178.00 1.00 12.86 1700
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NT-071 including 177.50 178.00 0.50 24.50 1700
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NT-071 and 220.00 220.50 0.50 3.66 1700
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NT-071 and 231.00 231.50 0.50 3.22 1700
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NT-072 8.00 9.00 1.00 24.10 1700
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NT-072 137.00 142.00 5.00 2.95 1700
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NT-072 including 137.00 138.50 1.50 8.19 1700
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NT-072 144.00 147.00 3.00 2.60 1700
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NT-072 including 145.50 146.00 0.50 11.00 1700
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NT-072 163.00 191.00 28.00 1.13 1700
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NT-072 including 182.00 183.50 1.50 5.20 1700
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NT-072 208.00 209.00 1.00 4.78 1700
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NT-072 230.00 239.00 9.00 1.42 1700
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NT-072 241.00 242.00 1.00 31.10 1700
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NT-072 251.00 258.00 7.00 2.42 1700
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NT-072 including 253.00 254.00 1.00 13.70 1700
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NT-072 and 270.00 271.00 1.00 4.06 1700
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NT-072 and 294.00 296.00 2.00 4.24 1700
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NT-072 and 295.00 296.00 1.00 7.36 1700
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(i) Width is calculated as core length and does not imply true width of the
zone. Weighted average gold intervals apply a 0.25 g/t lower cut-off.
Internal dilution within reported intervals does not exceed core
lengths of two metres unless otherwise indicated.
(ii) Cross sections are spaced 25 metres apart across the entire NTS,
Section 1375 marks the centre of the Heath Bull Zone.
Discussion of Results:
Drill Hole NT-076 is a 50 metre step out northeast of the "Hinge" zone of mineralization identified in 2008. This area is interpreted to be part of a major bend in the NTS where cross cutting structures have been identified in drilling and geological mapping. Drilling in this area has returned nine greater than 20 g/t gold intercepts along a 400 metre corridor in shallow drilling in eight holes. Table 2 shows a summary of all reported results from the Hinge Zone area.
Drill Hole NT-075, on section 2250, intersected gold mineralization approximately 40 metres below the high-grade intercept in Drill Hole NT-073 (242 g/t gold over 0.50 metres).
Exploration work at the Newman Todd project is funded by Confederation Minerals Ltd. (Confederation) (TSX VENTURE:CFM). Confederation can earn a 50% interest in the project by spending $5.0 million in exploration by November 2013, and an additional 20% by producing a Preliminary Economic Assessment (PEA) by November 2016. During the earn-in period,Confederation is the operator of the project.
Core samples from the program were cut in half, using a diamond cutting saw, and were sent to Activation Laboratories Ltd. in Red Lake Ontario, an accredited mineral analysis laboratory, for analysis. All samples were analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold were analyzed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream, as part of Confederation's quality control/quality assurance program.
Bob Singh, P.geo, is the qualified person as defined by National Instrument 43-101 and has reviewed this news release. Mr. Singh has been engaged through a third party service provider by Confederation Minerals Ltd. to manage the project, and is also the Canadian Exploration Manager for Redstar Gold Corp.
About Redstar Gold Corp.
Redstar recently acquired a high-grade epithermal gold district in Alaska that is a good complement to the high-grade gold discovery in Red Lake, Ontario. The Shumagin project in Alaska includes a high-grade gold deposit with a non 43-101 compliant resource, a bulk tonnage non 43-101 compliant resource, a historic high-grade gold mine, and numerous high priority exploration targets. At the Shumagin project in Alaska a drilling program is currently underway, and an aggressive drill program is ongoing on Redstar's high-grade gold discovery at the Newman-Todd project in Red Lake, Ontario. Along with the high-grade gold projects in Alaska and Red Lake, the company also has a total of 14 gold focused projects in Nevada.
On Behalf of the Board,
Redstar Gold Corp.
Scott Weekes, President
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.
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.
Contacts: Redstar Gold Corp. - Corporate Inquiries Tim Mikula Investor Relations 604.488.0051 604.488.0053 (FAX)tmikula@redstargold.comwww.redstargold.com
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