Canstar Resources Inc. (
TSX: V.ROX,
Stock Forum) will be initiating the first phase of an exploration program to be carried out until the end of 2013 on its Mary March JV project in central Newfoundland, Canada.
A comprehensive geochemical sampling program is now underway at the company's project facilities near Buchan's, Newfoundland.
According to the
Canstar Resources press release, systematic sampling of historic and recently drilled drillcore will be completed over more than 8,000 meters of core.
"This will be one of two work programs to be carried out this Fall and Winter, as a drilling program is currently in the planning as well,” said Danniel Oosterman, President and CEO. “This is an important step toward further advancing the potential of the Mary March project.”
The goal of the geochemical sampling program is to provide a fundamental understanding of nature of the rocks at Mary March.
Because rocks tend to have very specific proportions of elements as a result of the conditions in which they were formed, Canstar is able to identify specific stratigraphic horizons based on geochemical analysis of these rocks.
Knowing this will allow the company to help identify the horizon associated with the mineralizing event.
Canstar is a Canadian mineral exploration and development company engaged in the business of exploring for mineral deposits.
On Wednesday morning, Canstar was trading at $0.10 a share. The company had a market cap of $8.3 million, based on 82.9 million shares outstanding.