Canstar Resources Provides Exploration Update: Commences Ground Geophysics on Mary March Property
June 25 2014 - 7:00AM
Marketwired
Canstar Resources Provides Exploration Update: Commences Ground
Geophysics on Mary March Property
TORONTO, ONTARIO--(Marketwired - Jun 25, 2014) - Canstar
Resources Inc. (Canstar); (TSX-VENTURE:ROX) is pleased to announce
the commencement of its summer exploration program, beginning with
a ground geophysical survey at its Mary March Property near Buchans
Junction, Newfoundland. Canstar will be implementing a
deep-penetrating induced polarization (or "IP") geophysical survey
in order to enable maximum depth visualization on the property,
with focus on the wide mineralization encountered near the Nancy
April Zone. This type of technology and depth penetration
represents the most detailed and comprehensive survey of its kind
to have ever been conducted on the property and utilizes
state-of-the-art geophysical methods. The results of this survey
will be used for target generation where any new targets will be
drilled in the subsequent drilling program also anticipated in the
coming months.
2014 Induced Polarization Survey
In contrast to previous geophysical methods utilized on the Mary
March Property throughout its exploration history, the IP method is
not hindered by potential poor conductivities. It is now well
established that the prevalent mineralization at Mary March is very
similar to that of the former producing Buchans Mine, which is that
of a zinc-rich mineralization with poor electro-conductive
properties; the Buchans Mine was one of Canada's all-time highest
grade VMS ore producing 16.2 million tonnes averaging 14.50% Zn,
7.56% Pb, 1.33% Cu, 126 grams per tonne (g/t) Ag and 1.37 g/t Au
between 1928 and 1984. By utilizing an IP geophysical method,
Canstar hopes to detect these otherwise difficult-to-find
mineralized areas where we understand there to be the highest
potential for mineralization based on geology and previous
drilling. The technology for IP geophysical methods has advanced in
the last decade such that detection capabilities are now common to
vertical depths in excess of 300 meters. Such advancements will
greatly enhance Canstar's capability in unraveling both the
mineralization on the Mary March Property and the structure that
controls it.
2014 Drilling Program
Canstar Resources actively plans to conduct a diamond drilling
program on the Mary March Property. The Company has existing
geological targets based on 2013 drilling as well as a very high
priority geophysical target generated from the Borehole
Electromagnetic surveys ("BHEM") conducted in winter of 2014.
Drilling is anticipated to commence shortly after the collection of
data from the announced IP survey, which will be incorporated into
the generation and refining of targets on the property. The Company
will announce more details on the program upon commencement.
2014 Kenora Gold Project
Canstar has commenced preliminary work on its recently optioned
Kenora Gold Project and plans to conduct a reconnaissance mapping
and sampling program in July of this year. This work will lead to
the definition of key areas of highest potential where more
detailed exploration work will be conducted. Work on the Kenora
Gold Project will be ongoing throughout the year and developments
from this work will be announced as they are compiled.
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.
Danniel J. Oosterman, P. Geo.President & CEOE:
doosterman@canstarresources.comKaren WilloughbyDirector Corporate
CommunicationsT: 1-866-936-6766E:
kwilloughby@canstarresources.com
Canstar Resources (TSXV:ROX)
Historical Stock Chart
From Oct 2024 to Nov 2024
Canstar Resources (TSXV:ROX)
Historical Stock Chart
From Nov 2023 to Nov 2024