VANCOUVER, BC, Aug. 9, 2021 /CNW/ - Starr Peak Mining Ltd.
("Starr Peak" or the "Company") (TSXV: STE) (OTC:
STRPF) is pleased to announce another significant
expansion to its ongoing drilling campaign on its NewMétal property
("NewMétal" or "the Property"), located in the
Abitibi Greenstone Belt of Quebec
near the town of Normétal. The NewMétal project also includes the
past-producing Normétal Mine, from which ~10.1M tonnes of 2.15% Cu,
5.12% Zn, 0.549 g/t Au, and 45.25 g/t Ag were produced (Boivin,
1988).
With the ongoing drilling campaign returning encouraging results
and the availability of numerous untested targets ready to drill,
Starr Peak announces an increase in
its fully funded drilling program from 40,000 to 60,000 metres on
the NewMétal project.
Johnathan More, Chairman and CEO
of Starr Peak commented, "Additional
targets have been defined and will be drilled in order of priority.
The ongoing drilling campaign will increase the comprehension of
the Normétal-Normetmar associated mineralization and vectors
towards it. We are looking forward to seeing the upcoming results
on the highly prospective Newmétal property."
Drilling continues on the project targeting the deep new
discovery zone below 600m vertical
depth and systematic drilling of the Normetmar Upper zone above
400m vertical depth. An exploration
plan of the prolific Normetmar-Normétal lithological contact within
the property is currently underway, taking into account 2021 new
massive sulphide interceptions.
Figure 1: Longitudinal Section of the Normétal
Past-Producing Mine and Normetmar Satellite Deposit. Drilling
targets represented by a red star. Historical Drill Intercepts area
provided in Zinc-Equivalent calculated using the formula in
references. Abbreviation: Sp – Sphalerite, Cp – Chalcopyrite, Gn –
Galena, MS – Massive sulfides, SMS – Semi-massive sulfides (under
75%), Tr – Traces, EOH – End of Hole.
Qualified Person
Alexis Paulin
Bissonnette, Ing. (OIQ 5037621), an independent Qualified
Person as defined by Canadian NI 43-101 standards, has reviewed and
approved the geological information reported in this news release.
The drilling campaign and the quality control program have been
planned and supervised by Alexis Paulin
Bissonnette. Core logging and sampling were completed by
Laurentia Exploration. The quality assurance and quality control
protocol include insertion of one blank, one standard and one
duplicate every 25 samples, in addition to the regular insertion of
blank, duplicate, and standard samples accredited by ALS Canada
Ltd. during the analytical process. Additionally, sample weight is
taken prior shipment to validate sample identity. Gold values are
estimated by fire assay with finish by atomic absorption. Zinc,
Copper and Silver values are estimated by four acid digestion multi
elements Inductively Coupled Plasma – Atomic Emission Spectroscopy
(ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and
silver values over 100 g/t are estimated by four acid digestion
ICP-AES, OG62. Zinc values over 30% are estimated by potentiometric
titration, ZN-VOL50. The Qualified Person has not completed
sufficient work to verify the historic information on the Property,
particularly in regards to historical drill results. However, the
Qualified Person believes that drilling and analytical results were
completed to industry standard practices. The information provides
an indication of the exploration potential of the Property but may
not be representative of expected results.
References and disclosures
Normétal historical Mine and Normetmar:
Summary Report, Normetmar Project, January
1988 by L. Boivin
*Metal Factor zinc equivalent formula: Zn_eq (%)* Core
length
Zn_eq (%) = Zn(%) + [Cu(%) * Cu price (lb) / Zn price (lb)] +
[Ag(%) * Ag price (oz) * 14,632 / Zn price (lb) ] + [Au(%) * Au
price (oz) * 14.632 / Zn price (lb)]
Zn_eq % based on US$: 1.2$/lb Zn, $3.5/lb Cu, $25/oz
Ag, $1800/oz Au.
The information on the Longitudinal have not been validated
otherwise than with the information inside historical reports and
cross sections. Exact location of historical drill hole pierce
points on the longitudinal may be different.
The Company wishes to caution that historical resources
described above are historical. The historic resources are relevant
to give a ballpark estimate of the potential on the property.
Historical resources should not be relied upon. The key
assumptions, parameters and methods used to prepare the historical
estimate is not known and thus the difference between the historic
estimates and NI 43-101 compliant estimates is also not
known. The historical estimates used categories other than
the ones set up in sections 1.2 and 1.3 of National Instrument
43-101, Standards of Disclosure for Mineral Projects. A qualified
person has not reviewed the historical estimates and has not done
sufficient work to classify the historical estimates as current
mineral resources and Starr Peak is
not treating the historical estimates as current mineral resources
under National Instrument 43-101 and CIM Standards for mineral
resources and reserves. Further exploration work needs to be done
to correctly evaluate these historical resources. Additionally, the
methodology of calculation is unknown by the qualified person.
Grab samples are selective by nature and the values reported may
not be representative of the mineralized zone.
Mineralization hosted on adjacent and/or nearby properties is
not necessarily indicative of mineralization hosted on the
Company's property.
On Behalf of the Board of Directors of Starr Peak Mining
Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
About Starr Peak Mining Ltd.
Starr Peak Mining Ltd. is a Canadian based mineral exploration
company focused on the acquisition and exploration of precious and
base metal mineral deposits. The primary objective of the Company
is to acquire, explore and develop high potential and quality gold
deposits and projects in the Americas. The Company is committed to
create long term shareholder value through mineral discoveries.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
the content of this news release.
No securities regulatory authority has either approved or
disapproved of the contents of this news release. The securities
being offered have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws, and may not be
offered or sold in the United
States, or to, or for the account or benefit of, a "U.S.
person" (as defined in Regulation S of the U.S. Securities Act)
unless pursuant to an exemption therefrom. This press release is
for information purposes only and does not constitute an offer to
sell or a solicitation of an offer to buy any securities of the
Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking
Information:
This press release contains forward-looking information based
on current expectations, including the use of funds raised under
the Offering. These statements should not be read as
guarantees of future performance or results. Such statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to be
materially different from those implied by such statements.
Although such statements are based on management's reasonable
assumptions, Starr Peak assumes no
responsibility to update or revise forward-looking information to
reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this press release. Actual
results could differ materially from those currently anticipated
due to several factors and risks including various risk factors
discussed in the Company's disclosure documents which can be found
under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The TSXV has neither reviewed nor approved the
contents of this press release.
SOURCE Starr Peak Mining Ltd.