ROX Canstar Resources drills 93.67 m of 1% Zn at Mary March
Tue Nov 04 08:18:00 2014 EDT
Canstar Resources Inc (TSX-V:ROX) Shares Issued 82,856,381 Last Close 11/3/2014 $0.035 Tuesday November 04 2014 - News Release Mr. Danniel Oosterman reports CANSTAR INTERSECTS 93.7 METERS OF 1.00 ZINC, 3 G/T SILVER, AND 5.33 METERS OF 1.21% COPPER, 4.9 G/T
SILVER IN NANCY APRIL ZONE ON ITS MARY MARCH PROJECT Canstar Resources Inc. has released the final results of the 2014 summer drilling program on its Mary
March project. Results have been received for the final three drillholes completed in the program and
indicate a significant improvement in the Nancy April mineralized zone along strike and confirmation
that the geophysical program was successful in identifying the mineralized horizon. The current program
was successful in extending the Nancy April Zone approximately 50 meters to the southwest, returning
the following results:
-- Borehole MM14-33 intersected 5.33 meters 1.2% copper, 0.2% zinc, 4.9 g/t
silver, 0.4 g/t gold from 66.5 to 71.8 meters
-- Including an interval of 2.3 meters grading 2.5% copper, 0.1% zinc,
8.6 g/t silver and 0.7 g/t gold nested in the above intercept from
69.5 to 71.8 meters.
-- Borehole MM14-33 returned 93.7 meters of 1.0% zinc, 0.2% lead, and 2.9
g/t silver in stockwork sulphides
-- Including an interval of 10.2 meters of 3.4% zinc, 0.1% copper, 7.1
g/t silver and 0.3 g/t gold
The summer 2014 drilling program was comprised of 5 holes totaling 1724 meters of drilling, and was
drilled in two separate phases. Phase 1 results (2 holes) were announced in the Company's press release
dated October 28, 2014. Phase 2 Drilling Results (Nancy April Zone) The remaining 3 holes reported were designed to test an extensive IP anomaly that is coincident with
the Nancy April Horizon. The Nancy April deposit lies approximately 500 meters west of the Mary March
deposit and was discovered in 1999 by Phelps Dodge Corporation ("PDC"). PDC's discovery hole intersected
6.8 meters of 1.5% zinc, 0.8% copper and 0.6% lead. Geochemical work and re-logging on historic drill
core completed by the Company in summer of 2013 noted strong alteration with minor mineralization downhole
of Nancy April intersect and it was hypothesized that a footwall zone to a larger system may be present
in the area. Drilling in Fall 2013 confirmed these results (see press release dated January 21, 2014).
The following table provides a summary of significant drilling results from the summer 2014 drill program:
BHID From To Length Cu% Pb% Zn % Ag gpt Au gpt
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MM14-33 66.46 71.79 5.33 1.21 0.03 0.15 4.85 0.35
including... 69.54 71.79 2.25 2.49 0.03 0.10 8.64 0.72
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MM14-33 128.66 129.58 0.92 0.03 2.09 1.80 19.96 0.46
----------------------------------------------------------------------------
MM14-33 200.88 294.55 93.67 0.05 0.15 1.00 2.92 0.03
including... 237.00 247.17 10.17 0.12 0.01 3.36 7.13 0.03
----------------------------------------------------------------------------
MM14-34 383.58 390.89 7.31 0.05 0.17 0.28 8.80 0.08
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MM14-35 61.40 68.39 6.99 0.08 0.02 0.05 10.07 0.23
These results indicate a significant thickening of the Nancy April mineralized horizon from previous drilling. Hole MM13-31, drilled during the Fall 2013 program, returned a mineralized interval of 18.5 metres, in comparison to hole MM14-33 which encountered over five times this thickness only 50 metres along strike. The results suggest that the Nancy April horizon is improving along strike and warrants follow-up drilling to test for continued improvement to the southwest.
The second phase of the drilling program was designed to include targets delineated from the Company's recent induced polarization (IP) survey (see Company's press release dated June 25, 2014). Drillholes were prioritized based on known geological data and, specifically, the known presence of the Nancy April chargeability anomaly that is coincident with the mineralized zone. Drill hole MM14-35 encountered 6.99 meters of massive sulphide at the targeted zone, confirming the efficacy of the IP system for detecting sulphide mineralization on the property. MM14-33 and MM14-35 are separated by 200 meters of untested chargeable strike length, with the anomaly extending to the southern edge of the survey grid where it is presumed to continue.
Danniel Oosterman, President and CEO of Canstar states "Not only have we significantly increased the width of the Nancy April footwall zone, we now have a minimum 200 meter anomaly of untested IP chargeability along strike, and in a direction where we are seeing improving grades and widths. More importantly, we have confirmed that the IP survey is detecting sulphide mineralization, and raises the potential for mineralization on several other parallel chargeable trends observed from the survey, including a large anomaly to the north with peak chargeabilities that extend for over 600 meters long and 100 meters wide. The Mary March Project now has the highest quality targets and upside potential in its storied history."
The Mary March Property is subject to a Joint Venture Agreement between Canstar Resources Inc and Glencore Plc. Glencore opted for voluntary non-participation for this program.
A conference call will be held on Wednesday, November 5, 2014 at 12 noon EST to discuss the results and plans going forward. Investors are invited to submit questions to
kwilloughby@canstarresources.com, which will be addressed by President Danniel Oosterman during the call.
The conference numbers are:
Local Dial-in Number: (+1) 416 764 8600
Toll Free Dial-in Number: (+1) 888 575 5156
Guest Code: 8562103 #
Canstar Resources adopts industry recognized QA/QC methods. Drill intervals are core length and are estimated to be close to true thickness. A geochemical standard control sample and one blank sample is inserted into the sample stream every 20th sample. Lab duplicates are analyzed using Thompson-Howarth plots. Samples are shipped to AGAT Laboratories in Mississauga for analysis. AGAT Labs is an ISO/IEC 17025 accredited laboratory and maintains ISO 9001 standards, policies and procedures.
Mr. Danniel Oosterman, P.Geo., the President and CEO of the Company, is a "Qualified Person" under National Instrument 43-101 and has reviewed the technical disclosure in this press release.
We seek Safe Harbor.