Recent results include:
- Deep drilling of the Normetmar trend in hole STE-21-92-W3 has intersected a high-grade copper interval of over 15% chalcopyrite ("Cpy") mineralization over 3.7 metres. Chalcopyrite is a copper mineral (3% Cpy = 1% Cu). See Photo 1
- Recent Deep zone drilling results include 5.03% Zn_Eq over 12.5 m in hole STE-22-092-W2, which includes 1.01% Cu.
- A new Volcanogenic Massive Sulphide ("VMS") horizon has been discovered in the northern half of the property.
Photo 1: STE-22-92-W3; 1041.40m to 1045.80m. Stinger zone occurring from 1040.90 to 1044.60m, composed of dominantly chalcopyrite (15%) with lesser pyrrhotite (8%).
Zone | Hole No. | From | To | Length | Zn | Cu | Ag | Au | Zn_Eq |
Deep | STE-22-092-W2 | 1088.00 | 1100.50 | 12.50 | 1.27 | 1.01 | 11.41 | 0.21 | 5.03 |
Incl. | 1094.00 | 1098.50 | 4.50 | 0.39 | 1.86 | 21.18 | 0.38 | 7.29 | |
STE-21-077 | 750.70 | 756.65 | 5.95 | 1.69 | 0.19 | 6.82 | 0.06 | 2.58 | |
STE-21-082-W2 | 747.00 | 755.80 | 8.80 | 1.45 | 0.24 | 4.60 | 0.06 | 2.43 | |
Incl. | 748.60 | 752.35 | 3.75 | 2.95 | 0.50 | 7.25 | 0.11 | 4.88 | |
STE-22-087 | 712.25 | 721.35 | 9.10 | 1.71 | 0.83 | 11.38 | 0.24 | 5.00 | |
Incl. | 713.30 | 713.70 | 0.40 | 0.66 | 7.83 | 76.70 | 1.04 | 28.12 | |
Incl. | 719.00 | 719.75 | 0.75 | 7.04 | 0.29 | 6.40 | 0.22 | 8.56 | |
STE-22-087-W1 | 690.50 | 701.20 | 10.70 | 0.57 | 0.75 | 8.22 | 0.11 | 3.26 | |
Incl. | 690.50 | 691.85 | 1.35 | 0.59 | 2.29 | 27.24 | 0.42 | 9.03 | |
STE-22-088-W1 | 768.40 | 778.30 | 9.90 | 0.60 | 0.04 | 8.14 | 0.03 | 1.02 | |
Incl. | 776.00 | 778.30 | 2.30 | 1.08 | 0.01 | 22.63 | 0.08 | 1.96 | |
STE-22-092 | 1122.70 | 1126.00 | 3.30 | 1.41 | 0.05 | 3.30 | 0.02 | 1.71 | |
Incl. | 1123.40 | 1126.00 | 2.60 | 1.69 | 0.06 | 3.87 | 0.02 | 2.03 |
Table 1 – Deep zone results
Intervals are reported as drill core lengths measured downhole. True width of mineralization is currently unknown.
*Note: Zn_Eq% formula is defined below
Figure 1: Longitudinal Section of Normetmar Satellite Deposit trend at depth. Drilling targets represented by a red star. Historical Drill Intercepts area provided in Zinc-Equivalent calculated using the formula in references. Abbreviation: Sp – Sphalerite, Cp – Chalcopyrite, Gn – Galena, MS – Massive sulfides, SMS – Semi-massive sulfides (under 75%), Tr – Traces, EOH – End of Hole.
A new volcanogenic massive sulphide horizon has been discovered 3 km North of the Normetmar historical deposit. The horizon is hosted in intermediate volcanics from the lower member of the
Table 2 – New VMS horizon DDH
Hole No. | From | To | Length | Desciptions and estimations | ||||
STE-22-98 | 175.35 | 190.70 | 15.35 | Stringer zone, 5% Po, 1-2% Py, Tr. Cp, Tr. Sp, Tr. Gn | ||||
STE-22-98 | 190.70 | 200.15 | 9.45 | Semi-massive to massive sulphides, 60-65% Py | ||||
STE-22-103 | 305.05 | 305.95 | 0.90 | 60-65% Py, 1% Po | ||||
STE-22-103 | 361.80 | 362.55 | 0.75 | 98% Py | ||||
STE-22-95 | 557.80 | 557.35 | 0.45 | Massive Sulphide, 80-85%, Tr. Po | ||||
STE-22-104 | - | - | - | No significant result, not reaching the horizon |
Intervals are reported as core widths measured downhole. True width of mineralization is currently unknown. Abbreviation: Sp – Sphalerite, Cp – Chalcopyrite, Gn – Galena, MS – Massive sulfides, SMS – Semi-massive sulfides (under 75%), Tr – Traces,
Borehole electromagnetic surveys (BHEM) were completed in holes STE-22-98, STE-22-103 and STE-22-104 to date. Results are showing multiple disconnected zones and a main anomaly (P104b) of high conductance close to hole STE-22-104, which did not crosscut the horizon but followed it (Figure 3). Anomalies defined by hole STE-22-98 and STE-22-104 suggest a vertical plunge of the main mineralized zone intersected by hole STE-22-98, similar to
Figure 2: Geological Map of the NewMétal property locating the new massive sulphide horizon, A-A' longitudinal, with respect to Amex
Figure 3: Longitudinal Section A-A' of the new massive sulphide horizon. Intervals are reported as core widths measured downhole. Abbreviation: Sp – Sphalerite, Cp – Chalcopyrite, Gn – Galena, MS – Massive sulfides, SMS – Semi-massive sulfides (under 75%), Tr – Traces.
The ongoing drill program continues targeting the Normetmar Deep zone, located directly below the Normetmar high-grade zinc deposit. A mother hole is also planned to test the occurrence of a deeper zone, below the Deep zone. A second rig continues targeting the 4 km long prolific Normetmar-Normétal lithological contact within the property, taking into account the many new massive sulphide intercepts from the 2021-2022 program. The third rig has moved from the VTEM targets to test the continuity of the historical gold occurrences on the Rousseau and
Normétal historical Mine and Normetmar:
Summary Report,
*Metal Factor zinc equivalent formula: Zn_eq (%)* Core length
Zn_eq (%) = Zn(%) + [Cu(%) * Cu price (lb) / Zn price (lb)] + [Ag(%) * Ag price (oz) * 14,632 / Zn price (lb) ] + [Au(%) * Au price (oz) * 14.632 / Zn price (lb)]
Zn_eq % based on US$: 1.2$/lb Zn,
The historical information on the Longitudinal has not been validated otherwise than with the information inside historical reports and cross sections. Exact location of historical drill hole pierce points on the longitudinal may be different.
The Company wishes to caution that historical resources described above are historical. The historic resources are relevant to give a ballpark estimate of the potential on the property. Historical resources should not be relied upon. The key assumptions, parameters and methods used to prepare the historical estimate is not known and thus the difference between the historic estimates and NI 43-101 compliant estimates is also not known. The historical estimates used categories other than the ones set up in sections 1.2 and 1.3 of National Instrument 43-101, Standards of Disclosure for Mineral Projects. A qualified person has not reviewed the historical estimates and has not done sufficient work to classify the historical estimates as current mineral resources and Starr Peak is not treating the historical estimates as current mineral resources under National Instrument 43-101 and CIM Standards for mineral resources and reserves. Further exploration work needs to be done to correctly evaluate these historical resources. Additionally, the methodology of calculation is unknown by the qualified person.
Grab samples are selective by nature and the values reported may not be representative of the mineralized zone.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
On Behalf of the Board of Directors of
"Johnathan More"
Chairman and Chief Executive Officer
Neither the
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Starr Peak assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
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