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Canstar Resources Inc V.ROX

Alternate Symbol(s):  CSRNF

Canstar Resources Inc. is a Canada-based mineral exploration company. The Company is engaged in the acquisition, exploration and development of mineral properties located in Canada. The Company’s flagship exploration project is the Golden Baie project in south-central Newfoundland. The Golden Baie project is the Company’s flagship precious metals exploration asset. Its 100%-owned Golden Baie Project (548.75 square kilometers) hosts 93 kilometers (km) of a structure similar to Newfound Gold's QueenswayGold Project. Its Buchans-Mary March projects (65.75 square kilometers), which include a Glencore joint venture, are located within the past, producing VMS zinc-copper-silver rich Buchans Mining Camp and boast high-grade zinc and copper discoveries. The Buchans-Mary March Project is located in central Newfoundland, 20 km northeast of the same geological group that hosts the former producing Buchans Mine. Its wholly owned subsidiary is Altius Minerals Corporation.


TSXV:ROX - Post by User

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Post by kojack1on Nov 15, 2017 9:40am
93 Views
Post# 26966895

news :-(

news :-(Toronto, November 15, 2017 -- Canstar Resources Inc. (TSX-V: ROX) ("Canstar" or the "Company") is pleased to provide results from its 100%-owned Kenora Gold project located near Kenora Ontario. The program was designed to test a number of induced polarization ("IP") targets on the property as well as the mineralized extent of the Ace discovery on the Aviator structural trend. Highlights of the drill results include: 1.1 g/t gold over 11.2 meters in hole KG17-11 within a greater zone 14.7 meters 0.9 g/t gold 0.9 g/t gold over 4.5 meters in hole KG17-15 Results are from eleven (11) holes, totaling 1,526 metres, drilled along the Aviator Gold Trend. This program was designed to test: 1. The Company's Ace Showing which has demonstrated channel samples of 3.1 g/t over 29.3 meters in 2015 (see press release dated December 3, 2015) 2. Numerous IP targets predominantly to the south portion of the Aviator Trend 3. A newly discovered zone during the Winter 2017 ("W17") drilling program wherein the Company intercepted sub-g/t mineralization of 0.7 g/t over 7 meters approximately 140 meters to the northeast of the Ace Showing (see press release dated March 15, 2017). This was to be tested at depth. KG 17-11 was testing the newly discovered zone at depth, where it intercepted the 11.2 meter zone of 1.1 g/t within a 14.7 meter zone of 0.9 g/t gold, all of which occurs in low grade envelope of 0.6 g/t over 24.3 meters. KG17-15, which drilled 0.9 g/t over 4.5 meters, was drilled over the Ace Showing and represents the best results from the Ace Showing. Drill holes testing the IP targets were successful in explaining the IP anomalies, which were represented by sulphide-bearing sedimentary rocks in the area. Although extensive, the mineralization returned only anomalous gold values. Geologically, a key feature is notable within these results. The highlighted intercept of 1.1 g/t over 11.2 meters occurs downdip of the new zone discovered from the Winter 2017 drilling and represents and increase in grade at depth. Most interestingly this mineralization is associated with a quartz-diorite dike that has intruded the volcano-sedimentary package that runs parallel to the Aviator Trend. This was noted in the Winter 2017 drilling, and provided a geological target for this most recent round of drilling. This dike can be traced for several kilometers along the property. Results from the Ace, to date, indicate that the mineralization is typically near-surface. Selected assay results are tabulated below: Hole ID From To Length Au (g/t) Host Rock Target KG17-09 40.5 42.1 1.6 0.7 Dio W17 KG17-10 74.9 75.4 0.5 1.1 Dio W17 KG17-11 61.3 64.5 3.2 0.6 Dio W17 also: 72.0 95.2 23.2 0.5 Dio W17 including... 80.4 95.2 14.7 0.9 Dio W17 also including... 84.0 95.2 11.2 1.1 Dio W17 KG17-12 2.3 10.5 8.2 0.6 Mvol Ace also: 53.8 54.0 0.2 1.1 Mtsd Ace KG17-13 51.0 52.4 1.5 0.6 Mvol Ace KG17-14 24.4 25.2 0.8 0.9 Qz-vn Ace also: 35.1 35.6 0.5 1.6 Qz-vn Ace KG17-15 7.0 11.5 4.5 0.9 Mvol Ace also: 137.6 139.0 1.4 1.3 Dio (dike) Ace KG17-16 9.8 10.0 0.3 10.4 Qz-vn Ace also 15.5 15.9 0.4 14 Qz-vn Ace *Dio = diorite/quartz diorite; Mvol = mafic volcanics; Mtsd = metasediments; Qz-vn = quartz vein Danniel Oosterman, President and CEO of Canstar states "It's notable that the quartz diorite dikes not only appear to act as structural pathways for mineralization, but these dikes are mappable and can be traced property-wide. They may represent a key-feature in future exploration for the project." The Company is currently planning the next phase of exploration on its Mary March Project located in Newfoundland near the historic Buchans Mining Camp. Canstar will be submitting a work plan to it's JV partner, Glencore Plc for consideration. The Mary March Project has excellent potential whose highlights include: Historic drilling intercept (1996) by Phelps Dodge that intersected 9.63 metres of mainly massive sulphides with an average grade of 10.1% zinc, 1.68% lead, 0.64% copper, 122.1 g/t silver and 4.2 g/t gold (Mary March Zone); 2013 drilling by Canstar semi-massive sulphides intercepting 11.6 meters of 3.6% zinc, 0.1% copper, 0.8% lead, 25 g/t silver and 2 g/t gold, as well as 5.0 meters of 4.8% zinc, 0.4% copper, 1.0% lead, 71 g/t silver and 2 g/t gold (Mary March Zone); 2013 drilling by Canstar of a stockwork sulphide zone intercepting 18.5 meters of 1.6% zinc, 0.1% copper, 0.2% lead, and 2 g/t silver and another intercept of 18.9 meters of 1.6% zinc, 0.1% copper, 0.5% lead and 4 g/t silver (Nancy April Zone); 2014 drilling by Canstar of semi-massive sulphides intercepting 5.5 meters of 2.5% copper, 9 g/t silver and 0.7 g/t gold (Nancy April Zone); 2014 drilling by Canstar westward continuation of the stockwork sulphide zone intercepting 93.7 meters of 1.0% zinc, 0.1% copper, 0.2% lead and 3 g/t Ag (Nancy April Zone); Numerous untested geophysical anomalies similar to anomalies associated with known mineralization. Canstar Resources will be holding a conference call on Monday, November 20 at 1:00pm EST to discuss the results and plans going forward. The conference numbers are: Local Dial-in Number: (+1) 416 764 8658 Toll Free Dial-in Number: (+1) 888 886 7786
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