Tintina Gold Belt in Alaska HIGH GRADEBIG BIG volume - 21.4 g/t gold and 33.5 g/t silver over 5.2 m ................. in drill hole LM-11-40
Winter Drilling Program reveals high-grade gold and silver.21.2 m grading 5.8 g/t gold and 12.6 g/t silver including 5.2 m grading 21.4 g/t gold and 33.5 g/t silver in drill hole LM-11-40
OTCBB:FSRFF FSE:F2U TSX.V:FS
First Star Resources Inc. (TSXV: FS) ("First Star") is pleased to announce the results of its 2011 winter drilling program on its flagship property, LMS, in Alaska. The LMS property is under Joint Venture with Corvus Gold Inc. (A spin off from International Tower Hill). (TSX:KOR.to - News). 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 kilometers.
In March and April 2011, First Star Resources drilled two NC core holes totaling 640 metres within the Camp Zone area of LMS. While drill hole LM-11-40 was successfully completed, LM-11-41 had to be abandoned due to technical difficulties. Highlights of drill hole LM-11-40 include 21.2 m grading 5.8 g/t gold and 12.6 g/t silver in the gold-bearing graphitic quartzite breccia, including 5.2 m grading 21.4 g/t gold and 33.5 g/t silver.
CEO John Campbell stated, "We are very excited about the results of the 2011 winter drilling program at LMS. High grade gold and silver grades over significant intercepts within the graphitic quartzite breccia clearly demonstrate the potential of the Camp Zone area. We just started with our 5,000 metre summer drilling program at LMS and are excited about the potential the LMS property has to offer".
Table 1: Significant drilling results of drill hole LM-11-40, Camp Zone, LMS Gold Project, Alaska.
LM-11-40
_____________________________________________________________________
|From (ft)|To (ft)|Interval (ft)|Interval (m)|Gold (g/t)|Silver (g/t)|
|_________|_______|______________|____________|__________|____________|
|638 | 707.5| 69.5| 21.2| 5.8| 12.6|
|_________|_______|______________|____________|__________|____________|
|Including| | | | | |
|_________|_______|______________|____________|__________|____________|
|690.6 | 707.5| 16.9| 5.2| 21.4| 33.5|
|_________|_______|______________|____________|__________|____________|
A 0.2 g/t cut off for gold used for composite calculations.
All exploration work on the LMS property is conducted by First Star's exploration contractor Pacific Rim Geological Consulting Inc. of Fairbanks, Alaska, under the supervision of Dr. Karsten Eden, Vice President Exploration of First Star Resources Inc. All sample shipments are sent to ALS Chemex in Fairbanks, Alaska, for preparation and then on to ALS Chemex in Reno, Nevada, 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 has its own quality control/quality assurance programs in place.
The technical information in this news release was reviewed by Dr. Karsten Eden, First Star's Vice President Exploration, and a Qualified Person as defined in NI 43-101.
About First Star Resources Inc.
First Star Resources is a junior exploration company focused on gold exploration in the world famous Tintina Gold Belt in Alaska. The Tintina Gold Belt hosts major gold deposits and several mines, such as; Fort Knox Mine - 3.7 million oz. gold, the Donlin Creek deposit - 33.5 million oz. gold, the Livengood deposit- 8.1 million oz gold, White Gold deposit- 1.4 million oz gold (Recently taken over by Kinross Gold Corp), and the Pogo Mine 5.6 - million oz gold, which is adjacent to one of First Stars Resources' key targets for this year, the LMS and WP property. The LMS and West Pogo properties have well defined Gold Targets which First Star Resources will be addressing in 2011.
Visit the Company's website, www.firststarresources.ca
ON BEHALF OF THE BOARD John Campbell, President & CEO
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| House Positions for C:FS from 20110609 to 20110609 |
| 33 Canaccord |
1,817,000 |
311,055 |
0.171 |
1,732,000 |
294,530 |
0.17 |
85,000 |
-16,525 |
| 79 CIBC |
18,000 |
3,270 |
0.182 |
0 |
|
18,000 |
-3,270 |
| 83 Mackie |
4,000 |
720 |
0.18 |
0 |
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4,000 |
-720 |
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0 |
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20,000 |
3,800 |
0.19 |
-20,000 |
3,800 |
| 1 Anonymous |
0 |
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87,000 |
16,715 |
0.192 |
-87,000 |
16,715 |
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1,839,000 |
315,045 |
0.171 |
1,839,000 |
315,045 |
0.171 |
0 |
0 |
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0.19 |
50,000 |
1 Anonymous |
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0.195 |
6,000 |
1 Anonymous |
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0.195 |
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0.17 |
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0.20 |
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0.20 |
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30,000 |
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0.20 |
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25,000 |
0.17 |
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0.21 |
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33 Canaccord |
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30,000 |
0.165 |
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0.215 |
15,000 |
7 TD Sec |
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50,000 |
0.165 |
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0.215 |
15,000 |
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100,000 |
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0.24 |
10,000 |
1 Anonymous |