Post by
Tommer3 on Mar 17, 2011 3:39pm
First Star Drilling RESUMES
First Star to start drilling 1,000 m at LMS next week
2011-03-17 15:17 ET - News Release
Also News Release (C-KOR) Corvus Gold Inc
Mr. John Campbell of First Star reports
WINTER DRILLING PROGRAM AT LMS TO START NEXT WEEK TARGETING HIGH GRADE GOLD ZONE AND DEVELOPMENT OF COREBOX 3D MODEL OF THE LMS-CAMP ZONE
First Star Resources Inc. will start its 2011 exploration drilling program on its flagship property, LMS, in Alaska next week. The LMS property is under joint venture with Corvus Gold Inc. During the next few weeks, First Star intends to drill over 1,000 metres of oriented diamond core on its LMS property. Drilling will continue to assess the existing Camp zone in an effort to: 1) expand the gold-bearing graphitic quartzite breccias and 2) to drill a northeast-striking structural corridor within the lower gneiss zone that is known to contain high-grade gold mineralization. First Star believes this corridor to be an important structural control for gold mineralization. This winter drilling program will be followed up by an aggressive 5,000-metre-plus drilling program this summer. The company intends to have a new resource estimate completed by the end of 2011 which will also include silver.
First Star Resources has contracted Spring Valley Drilling Inc. for its winter and summer core drilling program on its LMS gold and silver property. All exploration work on the LMS property will be conducted by First Star's exploration contractor Pacific Rim Geological Consulting Inc. of Fairbanks, Ala., under the supervision of Dr. Karsten Eden, vice-president exploration of First Star Resources Inc. All sample shipments will be sent to ALS Chemex in Fairbanks, Ala., for preparation, and then on to ALS Chemex in Reno, Nev., or Vancouver, B.C., for assay. ALS Chemex's quality system complies with the requirements for the international standards ISO 9001:2000 and ISO 17025:1999. First Star will have its own quality control/quality assurance programs in place.
The LMS claim block is located in the Goodpaster mining district of Alaska and consists of 92 State of Alaska mining claims covering 61 square kilometres. In September, 2010, First Star drilled three NC core holes totalling 3,618 feet (1,103 metres) within the Camp zone area of LMS. The goals of this drilling program were to: 1) expand the stratiform gold-bearing graphitic quartzite breccia horizon and 2) confirm the extent of high-grade gold vein feeder zones in the lower gneiss zone. All three holes were designed to test both targets. The results of this drilling program were announced in Stockwatch on Nov. 10, 2010 (also see company website).
First Star is very pleased with its recent achievements on the LMS gold property: 1) the company successfully determined that the thickness of the gold-bearing graphitic quartzite breccia is greater than previously thought, and encountered significant gold and silver grades within the graphitic quartzite breccia, as well as directly above and below the graphitic quartzite breccia in schist; and 2) successfully delineated the high-grade gold vein feeder systems in the lower gneiss zone.
First Star wishes further to announce that is has contracted Corebox.net to create a 3-D model of the LMS camp zone drill area presenting the gold and silver drill results of the 2005, 2006 and 2010 drilling programs. First Star believes that it is important for its investors to be able to visualize where the drill intercept is located relative to other drilling in order to understand its significance. This 3-D model will be updated throughout the drilling season. The LMS -- camp zone 3-D model can be viewed on-line.
We seek Safe Harbor.