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MONTREAL, March 20, 2019 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Corporation”) (TSX-V: GDM) is pleased to announce assay results from its trenching program at its Lake George Property, located in New Brunswick, Canada. It consisted of 2 trenches totaling 97 metres that roughly define an area of 2,500 m2, outlining the surface expression of the Arabica tungsten zone.
Based on recent drilling results completed in 2018, where 0.08% WO3 over 32 metres was assayed, Goldstar now believes that the Arabica tungsten zone remains open to the west and the northwest.
Highlights of the trenching program are detailed in the following table:
| Trench number | Interval* (metres) | Tungsten (% WO3) |
| T-17-10 | 57.5 | 0.17 |
| T-17-29 | 39.5 | 0.14 |
| * Reported trench intervals are not true widths. At this time there is insufficient data with respect to the mineralization to evaluate true orientations in space. This mineralization is not necessarily representative of the mineralization hosted on the property. | ||
Assays were performed at Agat Laboratories located in Mississauga, Ontario using peroxide fusion and ICP finish. These are channel samples that are not necessarily representative of the mineralization hosted on the property. Standards and blanks were inserted in every 25 samples.
Tungsten zone provides strong evidence of potential gold system at Lake George
The Arabica tungsten zone could possibly be a key indicator of an Intrusion Related Gold System (“IRGS”) that may be present at Lake George as IRGS gold deposits are often associated to tungsten mineralization. Detailed airborne geophysical data acquired by the Corporation in 2016 outlined prominent structural features that could represent buried granitic bodies commonly referred to as intrusions. Five (5) new potential intrusions that have never been tested by diamond drilling have been identified and will be targeted in the next campaign.
Moreover, the WLF gold zone discovered on surface in 2016-2017 is immediately adjacent to one of these targets. The WLF gold zone is at least 100 metres by 25 metres, grading 1.0 g/t Au.
High Priority near surface gold targets of scale at Lake George
Two (2) of these targets have been studied in more detail in the past and were the subject of a distinct publication by the New Brunswick government. According to this report, the depth of these two targets was estimated to be between 80 and 110 metres. If mineralized, these would have excellent near surface open pit potential. Based on geophysical data, Goldstar estimates the footprint of these two targets to be approximately three-square kilometres (3 km2). As such, these two potential buried intrusions are high priority targets for Goldstar.
Goldstar believes that roughly 2,500 metres of diamond drilling would be sufficient to test most of the potential buried intrusions and assess their gold fertility.
Next steps
The Corporation will complete compilation and targeting, followed by permitting in view of starting the next drilling program in early June 2019. Access for drilling is excellent all year long and easy logistics are expected.
Benoit Moreau, President and CEO of Goldstar comments: “The upcoming drilling program in 2019 will allow for a precise testing of potential buried intrusions. Our goal is to discover gold mineralization associated with these intrusions.”
Disclosure
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., CEO and director 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:
Benoit Moreau
President and Chief Executive Officer
Telephone: 514-591-8058
bmoreau@goldstarminerals.com
François Perron
Vice-President of Corporate Development
Telephone: 416-312-4811
fperron@goldstarminerals.com
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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.