News
Canstar Announces Initial Drill Results, Including 9.6 g/t Gold over 7.8 Metres, from Golden Baie Project, Newfoundland
Canstar Announces Initial Drill Results, Including 9.6 g/t Gold over 7.8 Metres, from Golden Baie Project, Newfoundland
August 19, 2021
Toronto, Ontario – August 19, 2021 – CANSTAR RESOURCES INC. (TSXV: ROX & OTCPK: CSRNF) (“Canstar” or the “Company”) is pleased to announce assay results from the first two holes of its 5,000 metre diamond drill program on the Golden Baie project in south Newfoundland.
Holes GB-21-01 and GB-21-02 were drilled from the same pad at the Kendell Target, located in the centre of the 62,175 hectare claim package (Figure 1). These holes were drilled to intersect the downdip projection of significant quartz veining in a surface trench that was excavated earlier this year (Figure 2). Both drill holes intersected a zone of gold mineralization associated with multiple small quartz veins and sulphide mineralization and assay highlights are provided in Table 1. Hole GB-21-01 was angled at 45 degrees towards the east and intersected 9.64 g/t gold over 7.75 metres, starting at 7.45 metres downhole (Figure 3). Hole GB-21-02 was a near-vertical drill hole and intersected 2.09 g/t gold over 7.92 metres including 9.59 g/t gold over 1.03 metres, starting at 15.15 metres downhole.
Rob Bruggeman, President & CEO of Canstar, stated: “Having the first hole from the 2021 drill program return the best grade-intercept ever reported on the Golden Baie project is a fantastic start to the drill program. More importantly, the initial assay results from the Kendell Target indicate a broad zone of gold mineralization that starts at surface and is believed to dip at an estimated 30-40 degrees towards the northwest. Future assay results are expected to further define the dip and orientation of the mineralized system. The initial results are very promising because orogenic gold systems can extend over great distances, as recently demonstrated at other gold projects in central Newfoundland. We plan to step out and attempt to follow this mineralized zone as it gets deeper in order to evaluate the potential for zones with higher grades or broader widths.”
Table 1 - Highlight Assay Results from Reported Drill Holes
| Drill Hole | From (m) | To (m) | Thickness (m) | Gold (g/t) |
| GB-21-01 | 7.45 | 15.20 | 7.75 | 9.64 |
| and | 21.95 | 22.80 | 0.85 | 2.03 |
| GB-21-02 | 15.15 | 23.07 | 7.92 | 2.09 |
| including | 15.15 | 16.18 | 1.03 | 9.59 |
All intersections are downhole length as there is insufficient information to calculate true width.
Kendell Target Overview
Trench TGB-20-01 was excavated in the fall of 2020 and intercepted NE-SW trending quartz veins of varying thickness along a strike length of approximately 70 metres, approximately 16 metres of which contained visible gold. Seven channels were saw cut and sampled with the best results being 10.17 g/t gold over 3.0 metres and 6.20 g/t gold over 5.0 metres (seen news release dated Nov. 30, 2020).
Trench TGB-20-01 was expanded perpendicular to strike in the northwest direction in May 2021. The trench extension encountered a thick section (~4m) of abundant, visible gold bearing quartz veins in strongly sheared metasediments (see news release dated Jun. 8, 2021). The grab samples from the newly identified quartz veins assayed up to 34 g/t gold and the first 22 drill holes (~1,200 metres) of drilling in the 2021 program was targeting the extension of these quartz veins. Due to the extensive deformation of the rocks, the initial drill holes are fairly short and tightly spaced, oriented at dips of 45 to 88 degrees to follow the mineralization and better understand the structure and orientation. (Note: the reader is cautioned that rock grab samples are selective by nature and values reported may not represent the true grade or style of mineralization across the property.)
Figure 1 - Golden Baie Property with key gold occurrences noted and 2021 drill target area in red ellipse.
Figure 2 - Plan View of Kendell Target Showing Surface Trenches and Drill Trace for Holes GB-21-01 and GB-21-02
Figure 3 - Section A-A’ Showing Reported Drill Holes and Trench Grab Assays (looking north)
2021 Drill Program Status
The 2021 summer drill program is focusing primarily on the area from the Kendell Prospect to the Blow Out Prospect (Figure 1). Drilling commenced on June 8 and is expected to continue until the end of August, 2021. To date, 45 drill holes have been completed for a total of approximately 4,300 metres. Drilling of the Blow Out target is currently being completed, after which the drill rig will return to the Kendell target. The Company expects to complete at least 50 drill holes for over 5,000 metres of total drilling as part of this program, with assays expected to be received until the end of October. The timing of the next phase of the drill program is being evaluated.