- Follow-up Fall Drill Program to commence in 4 to 6 weeks.
- Summer program designed to understand and test the SW Extension of Shumagin:
- Shumagin breccia structure extended 400m by drilling to 1,600m.
- Visible gold identified 370m to the SW from Main Breccia at 202m below surface.
- Hole 17-SH-34 intersects 2.2m of 9.9 g/t of gold & 29.3 g/t of silver.
- Geophysics program identifies new parallel footwall structure.
- Soil sample program has identified multiple new structures and target areas.
August 22, 2017: Redstar Gold Corp. (TSX.V: RGC, US: RGCTF, FRA: RGG) (“Redstar” or the “Company”) today announces drill results from its 2017 Spring/Summer Exploration Program, at the 100% controlled Unga Gold Project in Alaska. Final assay results are now received and compiled below. The program included approximately 600 soil samples, the completion of a 15.5 line-km MAG and 8.7 line-km IP geophysical survey, and a twelve (12) drill hole program totaling 2,287.8 m of HQ & NQ diamond drilling:
- The 2017 summer exploration drill program focused on initially testing and reviewing the geological model over a distance of an additional 400m to the southwest of the known Shumagin Gold Zone, which currently strikes over approximately 950m.
- The Company now has significantly more drilling information that it will apply to its updated geological model and assist in the understanding of the controls that guide the mineralization. This model will be used towards a follow-up drill program to commence in in the next 4 to 6 weeks.
- Please see audio / video link www.redstargold.com/investors/presentations-and-media/ for latest interview with Redstar’s CEO and VP Exploration.
Peter A. Ball, President and CEO commented,“Preliminary drilling has extended the known strike length of Shumagin to 1,600m by intersecting the Shumagin structure in 10 out of 12 holes, encountered visible gold 370m to the southwest in hole 17SH032, and has provided a better understanding of the geological model and mineralization controls. This has provided the key information on where to focus our next drill program and efforts at Shumigan and elsewhere within the Unga Gold Project. Geological mapping and sampling towards the southwest from Shumagin indicates a very strong expansion potential along strike for an additional approximate 3 kms towards the Orange Mountain Zone, the interpreted hydrothermal center along the Shumagin Trend.”
Geological Highlights from Preliminary Southwest Extension Drill Program
- Drilling intersected the targeted Shumagin-style breccia structure in 10 out of 12 drill holes.
- Visible gold-bearing stockwork encountered in drill hole 17SH032 is identical to gold-bearing stockwork intercepted in drill holes 16SH019 (370m to the NE) and 11SH010 (750m to the NE).
- Geological interpretation provides a strong indication for the potential of high-grade mineralization located at depth below the similar Shumagin structure identified in multiple holes within the SW Extension Zone.
- The Shumagin Gold Zone has been expanded by drilling approximately 400m towards the southwest for a total of approximately 1,350m of strike length and remains open.
- 17SH034 intersected 2.2m @ 9.9 g/t gold & 29.3 g/t silver
- 17SH033 intersected 0.7m @ 5.7 g/t gold & 30.0 g/t silver
- Results from the 2017 soil sample program has identified multiple new target areas that exhibit similar geochemical signatures to the Shumagin Gold Zone (Au, Ag, Zn, Pb, Cu).
Of the 12 drill holes completed during the program, 4 holes (17SH026 to 16SH029) were designed to initially obtain accurate strike & dip measurements of the breccia system prior to drilling additional step out holes towards the southwest (see Long Section L-L’).