Mr.
Government Relations and Environmental Permitting
With the inauguration of the new administration in
SEMAS has informed TriStar that they anticipate an in-person public hearing in the village of
In anticipation of likely requirements for the next stage of permitting, TriStar has already advanced work on cave relevance studies and will be initiating detailed archeological studies.
Community Engagement and Transparency
The TriStar team continues to engage with key stakeholder groups in both the areas of direct and indirect impact of the project, focusing on sharing detailed project information, listening and responding to questions and concerns, discussing timelines and potential future events. The aim is to prepare the local communities and key stakeholders for the public hearing, which will follow the SEMAS site visit. Our engagement activities focus on multiple parties including the municipality, sub-district businesses, small-scale entrepreneurs, landowners, schools and civil society organizations.
TriStar partnered with local village shops and stores for the delivery of Christmas hampers of vital supplies to families over the holiday season. We continue to identify opportunities to partner with government and civil society to support the well-being of local families-in-need specifically in the areas of health and education.
Environmental Management
Daily environmental training and awareness initiatives have been developed at site by our internal team. Environmental management is focused on a continual improvement model, with current upgrades underway in the areas of solid waste management, recycling, treatment of effluents, power generation and potable water systems.
We continue with the sourcing and planting of native vegetation seedlings and the extensive rehabilitation of drill pads as well as helping to repair surrounding areas affected by the devastating impacts of seasonal wildfires.
Land
We have received confirmation from the
As part of our commitment to building lasting partnerships in support of the development priorities of local stakeholders and communities, we are grateful to be partnering with the Altamira Municipality's Education Secretariat in the construction of an upgraded elementary school in the village of Esperanca IV. This is the closest village to the project area, and we believe this important partnership will have lasting positive impacts for generations of families to come.
Drilling
TriStar completed a 2,500m drill program in October of 2022, and gold assay results have been received for 25 of the 26 drill holes (CSH-22-604 is still pending) and five drill holes are still waiting for multi-element geochemistry.
Exploration
Gold assay results have been received for 20 drillholes that were looking for possible extensions to the reefs around Esperanca South. The most promising results were in the southernmost drill hole CSH-22-577 (azimuth 140-degree, dip -60-degree, total depth 80m) which returned 3m @ 1.72 g/t gold (20 to 23m downhole), which is a good indication that the mineralization continues to the south.
The drill holes aimed at longer range extensions generally failed to intersect meaningful mineralization, although the easternmost drill hole, CSH-22-610 (azimuth 0-degree, dip -90-degree, total depth 150m) intersected 7m @ 0.67 g/t gold (3 to 10m downhole) including 2m @ 1.66 g/t gold (8 to 10m downhole). The shallow depth of mineralization and the fact the hole is located nearly 1km to the east of known mineralization makes this an interesting intercept worthy of follow-up. The westernmost drill hole CSH-22-609 (azimuth 0-degree, dip -90-degree, total depth 200m) did not have any significant results, although until we receive and analyze the geochemistry results, we will not be able to confirm if the hole reached its target.
The true width of the mineralized intersection quoted is between 85 - 100% of the downhole drill indicated width.
Condemnation Drilling
Four drillholes, CSH-22-578/600/605/613, were designed to check for possible mineralization trending towards or underneath proposed waste dumps. None of these drill holes returned meaningful grades, so although this is not a definitive condemnation program it is a good first indication that the sites selected for the rock waste dumps at Esperanca South appear to be appropriate.
Twin holes - Reverse Circulation v Core
During this recent drill campaign, one core drill hole was drilled as a twin of a pre-existing reverse circulation (RC) hole, with the aim being to confirm that the RC drilling process does not impact the reliability of sample quality by imparting a systematic bias. TriStar has drilled six twin holes during previous campaigns, with multiple interceptions showing indications of a higher grade in the core assays.
Drill hole CSH-22-611 was twinned against old RC hole RC-19-392, drilled in 2019. Hole 392 had three low-grade mineralized zones as shown in Table 1 below. Hole 611, drilled recently, intersected the same zones, showing good repeatability of mineralization, but demonstrated higher grades in each zone. TriStar will resubmit the samples for Leachwell analysis in order to properly align grade comparisons. In general, Leachwell analysis has a higher precision than fire assays; due to the mass of the analyzed material being approximately 20x larger in a Leachwell assay than the 50g aliquots analyzed in a conventional fire assay procedure. The results presented in Table 1 show the preliminary comparison between the two holes, located 5m apart in Esperanca South.
About TriStar
Contact:
President and CEO
T: 480-794-1244
Neither the
Forward-Looking Statements
Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation which are not historical facts and are made pursuant to the 'safe harbour' provisions under the United States Private Securities Litigation Reform Act of 1995. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'expects' or 'it is expected', or variations of such words and phrases or statements that certain actions, events or results 'will' occur. Forward looking statements in this press release include statements about the Company's ability to complete the current drilling program, the results of further exploration target identification and the anticipated ongoing effects of the COVID-19 virus. Such forward-looking statements are based upon the Company's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause the Company's plans to change include changes in demand for and price of gold and other commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments in
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