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MONTREAL, Oct. 07, 2020 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Corporation”) (TSX-V: GDM) is pleased to announce that it has completed prospecting work on its Nemenjiche property and has moved its team to work on the Anctil property, also in the Chibougamau area.
The prospecting campaign on Nemenjiche has covered a target area of approximately 6 square kilometres. The team has executed a systematic grid for detailed mapping and sampling of outcrops. Several structures containing sulfide mineralization have been discovered. Prospecting efforts have resulted in 130 samples being gathered from the Nemenjiche property which will be sent for assay.
As the Nemenjiche prospecting is completed, the team has now been mobilized to Anctil where potential target areas will be prospected in a systematic fashion.
The Anctil property is located approximately 50 km west of the Nelligan Project, where an inferred resource of 3.2 million ounces of gold (96,990,000 tonnes averaging 1.02 grams Au per tonne) was announced last October (NI 43-101 Technical Report and Initial Estimate for the Nelligan Project, Iamgold Inc., October 2019).
David Crevier, CEO states, “We are pleased with the rapid flow of new data that is resulting from this work. Once the assays results are known we will be in a better position to set out the next steps as to how to prioritize the multiple prospects that are being identified.”
Next steps
The exploration team will also prepare and design a detailed airborne survey for both the Nemenjiche and Anctil properties.
Corporate presentation
The Corporation’s corporate presentation is available at the following link:
https://www.goldstarminerals.com/documents/en/2020/corporate_presentation.pdf
Disclosure
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., a consultant of the Corporation. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For further information, please contact:
David Crevier
Chairman
Telephone: 514-284-3663
dcrevier@goldstarminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.