Canstar Resources Inc. Exploration Update on Mary March Joint Venture Project: Geophysics Indicates Conductive Core at Mary M...
26 3월 2014 - 9:00PM
Marketwired
Canstar Resources Inc. Exploration Update on Mary March Joint
Venture Project: Geophysics Indicates Conductive Core at Mary March
TORONTO, ONTARIO--(Marketwired - Mar 26, 2014) - Canstar
Resources (Canstar) (TSX-VENTURE:ROX) is pleased to provide an
update on the current exploration activity for its Mary March
Project, located near Buchan's Junction in Central
Newfoundland.
The Company's recent borehole geophysical program conducted on
holes drilled during 2013 has provided results that distinguish a
high priority drill target near the Mary March massive sulphide
zone. All of the holes surveyed clearly point to a more conductive
zone downdip and to the east of holes MM13-29 and MM13-30,
suggesting the mineralization is open for expansion in these
directions.
The Mary March zone is the initial discovery area drilled by
Phelps Dodge in 1999 where they encountered impressive grades of
10.1% Zn, 1.68% Pb, 0.64% Cu, 122.1 grams per tonne (g/t) Ag, and
4.2 g/t Au over 9.63 meters. The drilling completed by the Company
in the Mary March area successfully added to these results,
encountering massive sulphide zones with two separate holes. In
drillhole MM13-30, 11.6 meters of mineralization containing 3.6%
Zn, 0.1% Cu, 0.8% Pb, 25 g/t Ag, and 1.5 g/t Au; including a
3.6-meter high-grade zone containing 7.5% Zn, 0.04% Cu, 1.37% Pb,
26.1 g/t Ag, and 1.7 g/t Au, and extended the Mary March Zone to
depth. In MM13-29, 5.0 meters of mineralization was encountered,
containing 4.82% Zn, 0.38% Cu, 1.04% Pb, 71.3 g/t Ag, and 1.8 g/t
Au, including 3.5 meters of 6.21% Zn, 0.13% Cu, 1.42% Pb, 82.8 g/t
Ag, and 1.9 g/t Au (see Company Press Release dated January 21,
2014).
Results for surveys completed for holes in the Nancy April area,
which is located approximately 500 meters southwest of the Mary
March zone require more data and investigation, remaining
relatively underexplored compared to the Mary March zone.
"This is exciting news for our shareholders and for the Mary
March project," stated Danniel Oosterman, President and CEO of
Canstar. "In an area where mineralization is known to give weak
responses, we are encouraged to find such an obvious anomaly
offhole to known mineralization. Needless to say the company
regards this as a high priority target for its next drilling
program."
In light of these results the Company is submitting permitting
applications for future exploration work including drilling which
is anticipated to commence late spring to early summer. The company
will announce each stage of work accordingly.
Mr. Danniel Oosterman, P.Geo., the President and CEO of the
Company, is a "Qualified Person" under National Instrument 43-101
and has reviewed the technical disclosure in this press
release.
On behalf of myself and the Board of Directors,
Danniel J. Oosterman, P.Geo, President & CEO
Forward-Looking Statements
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 includes certain
"forward-looking statements". These statements are based on
information currently available to the Company and the Company
provides no assurance that actual results will meet management's
expectations. Forward-looking statements include estimates and
statements that describe the Company's future plans, objectives or
goals, including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as "believes",
"anticipates", "expects", "estimates", "may", "could", "would",
"will", or "plan". Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual
results relating to, among other things, results of exploration,
project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and
prospects, could differ materially from those currently anticipated
in such statements for many reasons such as: changes in general
economic conditions and conditions in the financial markets;
changes in demand and prices for minerals; litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments; technological and operational
difficulties encountered in connection with the activities of the
Company; and other matters discussed in this news release. This
list is not exhaustive of the factors that may affect any of the
Company's forward-looking statements. These and other factors
should be considered carefully and readers should not place undue
reliance on the Company's forward-looking statements. The Company
does not undertake to update any forward-looking statement that may
be made from time to time by the Company or on its behalf, except
in accordance with applicable securities laws.
Canstar Resources Inc.Danniel J. Oosterman, P. Geo.President
& CEO1-866-936-6766doosterman@canstarresources.comCanstar
Resources Inc.Karen WilloughbyDirector Corporate
Communications1-866-936-6766kwilloughby@canstarresources.comwww.canstarresources.com
Canstar Resources (TSXV:ROX)
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