RE: News - Sunny LakeCanstar Resources to Commence Drilling on the Sunday Lake Anomaly
TORONTO, ONTARIO--(CCNMatthews - March 13, 2007) - The Directors of Canstar Resources Inc. (TSX VENTURE:ROX) are pleased to announce that a drill contract has been signed with Cartwright Drilling of Labrador to commence drilling operations on the Company's Sunday Lake Project. The drill is currently being mobilized and will be on the property within the next few days.
The Sunday Lake property, located 30km north of Thunder Bay, represents a distinct geophysical target and resembles a well-developed ring structure similar to those hosting intrusions of alkaline-affinity, i.e., carbonatite/kimberlite or mafic/ultramafic complexes. Both settings are economically significant and host the potential for large tonnage deposits of nickel, copper, niobium-tantalum and/or industrial minerals. The current program will test the intrusion with three drill holes, and is designed to provide information on the intrusive in order to develop an effective follow-up exploration program.
Geophysical data indicates that the ring-shaped intrusive body was emplaced at shallow depths (less than 75m) and extends vertically for at least 750m. 3D inversion modeling of the magnetic data also indicates that the core of the complex is composed of strongly magnetic, but remnantly magnetized, material, which suggests a protracted period of igneous activity during the formation of the complex.
Canstar's shares trade on the TSX Venture Exchange under the symbol ROX.
David Palmer, Ph.D., P.Geo., is the qualified person for all technical information in this release. To find out more about Canstar Resources, visit our website at www.canstarresources.com.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Canstar, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Canstar's expectations are exploration risks detailed herein and from time to time in the filings made by Canstar with securities regulators.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.