Redstar vote of confidenceUpdate today from Redstar:
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Redstar Gold Corporation (TSX.V: RGC, US: RGCTF, FRA: RGG) ("Redstar" or the "Company") provides the following update for its fiscal year ended March 31st, 2018. NV Gold Corporation1: Redstar currently owns approximately 5.1 million shares of NV Gold Corporation, or slightly below 15% of NV Gold’s outstanding shares. NV Gold shares closed at C$0.95 on March 31 (Redstar’s year end), near its 52 week high of C$1.22. NV Gold Corporation is a Canadian Junior exploration company trading under the symbol NVX (TSX.V – NVX). Towards the end of our fiscal year the Company sold shares to recoup costs and Redstar has no further plans to sell shares. The company has a proven management team and extensive connections to projects and financing. NV Gold is focused on maximizing shareholder value through acquiring and developing advanced gold projects.
NV Gold has been generating a significant amount of interest due to its 100% owned Across the Valley (“ATV”) gold project in Nevada. The project encompasses approximately 13,000 acres and is situated approximately 10km from the Twin Creeks and Turquoise Ridge mines on the Getchell Trend. Mines along the Getchell Trend have produced over 20 million ounces of gold from Carlin type deposits hosted by Palaeozoic sedimentary rocks, especially carbonate bearing units of the lower plate of the Roberts Mountain thrust. NV Gold targeted the underexplored ATV area based on the structural modelling that suggests faulted extensions of lower plate host rocks of the Getchell trend might be buried under young alluvium and volcanic rocks in this area.
NV Gold announced on March 2, 2018 that hole ARC-6C, within its ATV gold project had intercepted carbonate-bearing rocks thought to belong to the Comus Formation. After cutting approximately 120m of this important rock unit, hole ARC-6C was terminated at 477.3m. NV Gold has since re-entered hole ARC-6C and anticipates extending it an additional 600 meters. At a depth of 597m it intercepted what is interpreted to be decalcified muddy, silty and sandy rocks. Zones of silicification are also evident, as are local accumulations of very fine-grained sulphide minerals. NV Gold interprets such alterations as evidence of hydrothermal activity.