Multiple new gold occurrences identified - 2021 prospecting included the collection of more than 1,600 grab samples, including outcrop samples grading up to 35.5 g/t gold*, located 300 metres ('m') northeast of the 97 West target, and float/boulder samples grading up to 289.4 g/t gold at Skidder, as previously announced. Sampling in new areas identified four new gold occurrences, including Train Hill discovery, an anomalous gold zone spanning 800 m by 50 m.
New drill target generated - Channel sampling from the 97 West target included 11.0 g/t gold over 1.8 m and 10.7 g/t gold over 0.6 m; the Company expects to drill this target in the fall.
Expand high-grade gold mineralization at the Kendell prospect -
Identify the source of the 289 g/t gold 'Skidder boulder' - An angular boulder containing visible gold and grading 289 g/t gold was discovered in 2021 approximately 1.2 kilometres ('km') north-northeast of the Kendell prospect (see news release dated
Conduct maiden exploration on remote claims - The Golden Baie and Hermitage properties follow major crustal-scale faults and exhibit favourable geology along a strike length of over 150 km. The more remote claims in the southwest portion of the project have had little or no historical gold exploration. The Company has begun helicopter-supported grassroots exploration, which has the potential to extend the current 40 km strike length of anomalous gold at surface (Figure 1).
Note that rock grab samples are selective by nature and values reported may not represent the true grade or style of mineralization across the property.
Drill Target Generation
In early July, the company intends to focus its exploration efforts on the prospective central
Reconnaissance Drilling in the Skidder Area
The Skidder target is located approximately 1.2 kilometres north-northeast of the Company's Kendell prospect and appears to have a similar style of orogenic gold mineralization. Rock sampling in the target area has defined a 500 m by 400 m gold anomaly with outcrop samples containing up to 30.3 g/t gold. Multiple anomalous float rock samples were also found in this area, generally assaying between 1 g/t and 10 g/t gold, and visible gold was noted in two float rocks which assayed 21.7 g/t gold and 289.4 g/t gold. The latter sample is referred to as the 'Skidder boulder' and it is likely to have a nearby bedrock source, based on till analysis and an understanding of regional glaciation. The area is mostly covered by till, and systematic drilling is planned with the aim of locating the source of the Skidder boulder. The exact area to be drilled will be defined once the results of the additional till sampling and aforementioned IP survey have been received and analyzed.
About
Contact:
President & CEO
Email: rob@canstarresources.com
Phone: 1-647-247-8715
Website: www.canstarresources.com
Forward-Looking Statements
This News Release includes certain 'forward-looking statements' which are not comprised of historical facts. 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. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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