(via TheNewswire)
Planned drilling will test six target areas, including follow up on winter drilling at the Kendell prospect, (see news release dated
Drilling is also planned to test at least five additional targets in the central portion of the Golden Baie claims (Figure 1) that have been selected based on recent trenching, till sampling results, an IP survey completed this summer, and historical data. Initial drill holes are expected to be shallow, averaging approximately 100 m each, as the geology in this area is typically shallow dipping to the northwest. Initial drilling is expected to total at least 5,000 m in 50-60 holes.
Overview of Drill Targets
Hillside/ Skidder | In 2021, reconnaissance drilling in this glacial till covered area intersected 9.8 g/t gold over 0.5 m with visible gold hosted in quartz veining at shallow depth (hole GB-21-23 - news release dated |
90 West/ Northbrush | Drilling will begin to test a 1.1 kilometre (“km”) trend of anomalous soil and rock grab samples (up to 2.6 g/t gold) that is proximal to the interpreted contact of the Isle Galet volcano-sedimentary and |
97 West | Drilling will target the down-dip extension ofa channel sample assaying 13.1 g/t gold over 1.0 m in trench 97W-21-TR01 (see news release dated |
Osprey | The Osprey target is located on recently acquired claims to the northeast of the 97 West target (news release dated |
* 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.
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Figure1 - Little River Trend on the Golden Baie project showing soil anomaly heatmap and priority targets
Hillside/Skidder Target
The Skidder target is located approximately 1.2 kilometres north-northeast of the Company’s Kendell prospect (Figure 2) and appears to be 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 grab 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 inferred 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.
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Figure2 - Hillside-Skidder target area with resistivity map and anomalous results from surface sampling
90 West/Northbrush Area
The 90 West and Northbrush targets are interpreted to be situated on the contact of the Isle Galet and
Till sampling in 2022 to the northeast of the 90 West soil anomaly yielded a trend of samples with previously-reported highly anomalous gold grain counts, with the best sample returning 1,049 gold grains. Trenching to potentially uncover the bedrock source of the gold grains is currently underway to the northeast in the projected ‘up ice’ direction.
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Figure3 - 97 West and 90 West-Northbrush target areas with >95th percentile soil anomalies, select rock and till samples, and historic drill collars
97 West Target
The 97 West target area (Figure 3) is underlain by fine-grained clastic sedimentary and tuffaceous volcanic rocks and is defined by a historic soil anomaly approximately 600 m by 200 m with values ranging from 30 to 482 ppb gold.
Three historic holes totalling approximately 300 m were drilled in 1988 with the best result of 0.9 g/t gold over 0.3 m in hole WF-88-13. In 2010, a previous operator completed three holes totalling 136 m with the best result of 0.8 g/t gold over 1.1 m starting from a downhole depth of 2.9 m in hole LR-10-07.
Results of trenching and prospecting in 2021 include a channel sample of 13.1 g/t gold over 1.0 m in trench 97W-21-TR01 and outcrop grab samples up to 35.6 g/t gold. Drilling will focus on documented gold mineralization in trenches and test the graphitic shale horizons that also host the high-grade gold mineralization at the Kendell prospect, located approximately 3.5 km to the southwest.
Osprey Target
The Osprey target is hosted in the Riches Island Formation (Figure 3) with gold mineralization hosted in deformed, foliation-parallel quartz-sulphide veins. Historical work on the Osprey targetincludes three shallow drill holes drilled in 2009, two of which were drilled in the down-dip direction to the northwest. Rock grab samples included a boulder grading 142.1 g/t gold and outcrop samples grading up to 19.8 g/t gold.
The focus of 2022 drilling is to complete shallow holes to test the down-dip extension of the gold showings in outcrop grab samples.
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Figure4 - Osprey target area with >95th percentile soil anomalies, rock sampling and historic drill collars
Historic drilling at
Approximately 300 m southeast of the historic drilling area is a 750 m by 50 m gold-in-soil anomaly, with values ranging from 30 to 752 ppb gold, that has never been drill tested. The soil anomaly trends northeast-southwest and is coincident with the northeast-trending regional fabric. Grab samples in outcrop from the soil anomaly area range in grade up to 4.5 g/t gold. Drilling will focus on testing these soil and rock anomalies and the projected extension of the
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Figure5 -
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Figure 6 - Mineral claim licenses, totaling 939 km2, held by
For further information, please contact:
Email: rob@canstarresources.com
Phone: 1-647-247-8715
Website:www.canstarresources.com
Forward-Looking Statements
Neither
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 anddevelopment 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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