VANCOUVER, CANADA – March 17, 2011 – First Star Resources Inc. (TSX-V: FS)(“First Star”) is pleased to announce that it will start its 2011 exploration drilling program on its flagship property, LMS, in Alaska next week. The LMS property is under Joint Venture with Corvus Gold Inc. (TSX: KOR), A spin off from International Tower Hill. During the next few weeks, First Star intends to drill 1,000m plus of oriented diamond core on its LMS property. Drilling will continue to assess the existing Camp Zone in an effort to: 1) expand the gold-bearing graphitic quartzite breccias; and 2) to drill a NE-striking structural corridor within the lower gneiss zone that is known to contain high grade gold mineralization. First Star believes this corridor to be an important structural control for gold mineralization. This winter drilling program will be followed up by an aggressive 5,000m plus drilling program this summer. The company intends to have a new resource estimate completed by the end of 2011 which will also include silver.
First Star Resources has contracted Spring Valley Drilling Inc. for its winter and summer core drilling program on its LMS gold and silver property. All exploration work on the LMS property will be 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 will be 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 will have its own quality control / quality assurance programs in place.
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 September 2010, First Star drilled three NC core holes totaling 3,618 feet (1,103 metres) within the Camp Zone area of LMS. The goals of this drilling program were to: 1) expand the stratiform gold-bearing graphitic quartzite breccia horizon; and 2) confirm the extent of high-grade gold vein feeder zones in the lower gneiss zone. All three holes were designed to test both targets. The results of this drilling program were announced were announced on November 10, 2010 (https://firststarresources.ca/2010/11/first-star-resources-2010-drilling-on-lms-2-51-gt-gold-and-9-84-gt-silver-over-19-05-meters/).
First Star is very pleased with its recent achievements on the LMS gold property: 1) the company successfully determined that the thickness of the gold bearing graphitic quartzite breccia is greater than previously thought and encountered significant gold and silver grades within the graphitic quartzite breccia, as well as, directly above and below the graphitic quartzite breccia in schist; and 2) successfully delineated the high-grade gold vein feeder systems in the lower gneiss zone.
First Star wishes further to announce that is has contracted Corebox.net to create a 3D model of the LMS Camp Zone drill area presenting the gold and silver drill results of the 2005, 2006 and 2010 drilling programs. First Star believes that it is important for our investors to be able to visualize where the drill intercept is located relative to other drilling in order to understand its significance. This 3D model will be updated throughout the drilling season. The LMS – Camp Zone 3D model can be viewed at https://www.corebox.net/properties/lms/index.php?deposit=619.
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 West Pogo 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
For More Information Contact:
Investor Relations
604-608-0300 begin_of_the_skype_highlighting604-608-0300end_of_the_skype_highlighting
ir@FirstStarResources.ca