CEO Debrief Call: Redstar Gold Announces Drill Results from the 2017 Fall Exploration Program at the Unga Gold Project, Alaska

179

Highlights of Fall Drill Program:

  • The Shumagin structure or panel of epithermal mineralization was expanded by 84% in 2017 to 1750m.
  • All 13 holes holes intersected gold and silver mineralization.
  • Drilling confirmed the continuity of mineralization between the “Main Breccia” and “Bunker Hill” gold zones.
  • Drill hole 17SH042 intercepted an approximate 8.3m interval of mineralization, with the highest interval returning 4.33 g/t Au & 2.13 g/t Ag over 0.7m.
  • Drill hole 17SH047 intercepted an approximate 16.3m interval mineralization, with the highest value returning 3.62 g/t Au & 10.2 g/t Ag over 0.5m, and showed strong resemblance to breccias previously drilled in 2015 within the Main Breccia such as drill hole 15SH012.

December 11, 2017: Redstar Gold Corp. (TSX.V: RGC, US: RGCTF, FRA: RGG) (“Redstar” or the “Company”) today announces drill results from its 2017 Fall Drill Program, at the 100% controlled Unga Gold Project in Alaska. The program was comprised of thirteen (13) drill holes, totaling 2,641m, and was designed to test two target areas within the Shumagin Gold Zone (Bunker Hill and East Zone) and one area within the Rising Sun Gold Zone in the Apollo-Sitka Gold Trend.

“The 2017 Fall Drill program was primarily designed to further test the continuity of mineralization to the northeast within the Shumagin Gold Zone and enhance our geological model. Shumagin is a structurally complex high-grade epithermal system, as highlighted by high grade zones, or shoots to depth, and indicates continuity at shallow depths ranging from -240m to -330m below surface. The strong continuity of mineralization identified, and our updated geological model developed, will assist in vectoring future drilling for higher grade mineralization and widths at depth, as seen in previous drilling on the Main Breccia. We remain well capitalized, and in 2018 we will continue our exploration program at Shumagin, and look to further evaluate the additional 15+ known gold zones across the Unga district,” stated Peter A. Ball, President and CEO of Redstar Gold.

Shumagin Gold Zone

The Shumagin Gold Zone, previously with a known strike length of 350m as at the end of 2015, and 950m as at the end of 2016, now has shown continuity for approximately 1750m, an expansion of 84% over 2016. Each of the 11 holes drilled in the fall program at Shumagin intercepted gold and silver mineralization.

The Shumagin Gold Zone has four main areas, or zones of mineralization on the basis of location and geology (e.g. SW Extension, Main Breccia, Bunker Hill, & East Zone). During the 2017 fall drill program, eleven (11) drill holes totaling 2,407m were completed over approximately 750m of strike length targeting areas surrounding Bunker Hill and along strike northeast through East Zone.

An active gold-silver deposition was identified in multiple drill holes with colloform textures occuring in a geologic “boiling zone” at consistent elevations approximately -80m to -125m below sea level. Gold and silver mineralization is concentrated within the colloform textured carbonate-green clay breccia for approximately 600m along strike (e.g. grid line 2900E to 3500E) and remains open at depth and along strike for infill drilling and expansion

 

Read Full Release