| Announcement Date: | 2022-07-05 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | NI43-101 |
| Company name: | Canstar Resources Inc. |
| Project name: | Golden Baie |
| Location: | Canada |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 3.5m @ 20.6g/t Au from 47.0m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Toronto, Ontario – July 5, 2022 – CANSTAR RESOURCES INC. (TSXV: ROX & OTCPK: CSRNF) (“Canstar” or the “Company”) is pleased to announce new assay results for diamond drilling at the Kendell prospect on its Golden Baie property in south-central Newfoundland. Drilling took place in February and March 2022 and consisted of 2,907 metres (“m”) in 39 holes. Notable drill intercepts are provided in Table 1 and full results are in Table 2 at the end of this release. The 2022 winter drill program at the Kendell prospect was designed to test the continuity of gold mineralization downdip to the northwest and along strike to the northeast and southwest of the previously-drilled mineralized intercepts (Figure 1). The best mineralized intercepts in the 2021 drilling 2 program appear to follow a structure, interpreted from ground magnetics, that strikes northwestsoutheast and dips gently in that direction. Gold mineralization was generally in the form of fine grains in centimetre-scale quartz veins with additional gold mineralization associated with arsenopyrite and/or stibnite in the adjacent wall rocks. Mineralized intercepts are focused in the hanging wall of a sheared black shale horizon (Figure 2). |
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