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ROX Canstar Resources Inc

0.035
0.005 (16.67%)
28 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Canstar Resources Inc TSXV:ROX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.005 16.67% 0.035 0.03 0.035 0.035 0.035 0.035 54,000 20:21:39

Canstar Resources Commences Fall 2013 Drilling at its Flagship Mary March Property

11/11/2013 12:47pm

Marketwired Canada


Canstar Resources (Canstar) (TSX VENTURE:ROX) is pleased to announce the
commencement of its Fall 2013 drilling program on its 50/50 Joint Ventured Mary
March Property near Buchans Junction, Newfoundland. This program will follow up
on previous drilling results on the property and will focus on the historic Mary
March and the Nancy April zones. A total of 1,200 meters is planned.


The Mary March zone was discovered in 1999 by previous operator, Phelps Dodge
and yielded impressive grades of 10.1% Zn, 1.68% Pb, 0.64% Cu, 122.1 grams per
tonne (g/t) Ag, and 4.2 g/t Au over 9.63 meters. These grades are very similar
to the historic mining grades found at the former operating Buchans Mine,
suggesting that Mary March may be genetically related to Buchans and share
similar attributes, including a well-established hydrothermal system, as can be
observed at the Nancy April discovery.


The Nancy April zone, which occurs as broad zone of lower grade massive
sulphides to the west of Mary March and within the Company's property, was
discovered concurrently with Mary March but received limited attention at the
time. Nancy April is distinguished by a consistent footwall zone of sulphide
mineralization that has been traced over 200 metres of strike length from the
original discovery. Similarities also exist at the Buchan's deposit where a
footwall zone is present named the "Lundberg Zone". The Lundberg Zone was not
mined during Buchans' producing years, but contains 20.7MT with a historic grade
of 1.68% Zn, 0.72% Pb, 0.38% Cu, 5.9 g/t Ag, and 0.1 g/t Au. The Lundberg Zone
is spatially associated with the highest grade orebody at Buchans, known as the
Lucky Strike deposit. The current drill program will be testing the Nancy April
deposit for continuity along strike as well as the potential presence of an
associated high-grade body similar to Lucky Strike. 


During Canstar's 2012-2013 drilling program the best results were found in drill
hole MM-12-23 which intersected an interval of pyritic massive sulphide over
3.15m averaging 2.24% Zn, 0.48% Pb, 0.04% Cu, 21.02 g/t Ag, 0.80 g/t Au. This
hole was designed as a twin-hole to the Mary March discovery hole but deviated
from its projected path. Full results are reported in the Company's February 25,
2013 press release available on SEDAR (www.sedar.com) and on the Company's
website. 


Glencore Canada Corporation is the acting joint venture partner on the property,
and has elected not to participate in this phase of exploration. 


Significant assay results will be reported upon receipt. 

Mr. Danniel Oosterman, P.Geo., the President and CEO of the Company, is a
"Qualified Person" under National Instrument 43-101 and has reviewed the
technical disclosure in this press release.


On behalf of myself and the Board of Directors, 

Danniel J. Oosterman, P.Geo, President & CEO

Forward-Looking Statements 

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 includes certain
"forward-looking statements". These statements are based on information
currently available to the Company and the Company provides no assurance that
actual results will meet management's expectations. Forward-looking statements
include estimates and statements that describe the Company's future plans,
objectives or goals, including words to the effect that the Company or
management expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as "believes", "anticipates",
"expects", "estimates", "may", "could", "would", "will", or "plan". Since
forward-looking statements are based on assumptions and address future events
and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and prospects, could
differ materially from those currently anticipated in such statements for many
reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties encountered
in connection with the activities of the Company; and other matters discussed in
this news release. This list is not exhaustive of the factors that may affect
any of the Company's forward-looking statements. These and other factors should
be considered carefully and readers should not place undue reliance on the
Company's forward-looking statements. The Company does not undertake to update
any forward-looking statement that may be made from time to time by the Company
or on its behalf, except in accordance with applicable securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canstar Resources Inc.
Danniel J. Oosterman, P. Geo.
President & CEO
doosterman@canstarresources.com


Canstar Resources Inc.
Karen Willoughby
Director Corporate Communications
1-866-936-6766
kwilloughby@canstarresources.com
www.canstarresources.com

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