Goldstar expands the Victoria Lake Tin Property in New Brunswick, Canada
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MONTREAL, March 14, 2018 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Company”) (TSX-V:GDM) is pleased to announce that the Company has proceeded with the staking of 28 additional units, now totaling 391 claim units. These new claims are 100% owned and represent approximately an additional 635 hectares (6.4 km2), thus enlarging the property size to 88.7 km2.
The Victoria Lake Tin Property now extends East-West over a distance of nearly 20 kilometres from the Mount Pleasant area to the southeast of Victoria Lake. The property immediately borders to the south of the former Mount Pleasant tungsten and molybdenum mine owned by Adex Mining Inc. which has published a National Instrument 43-101 indicated resource of 12.4 million tonnes at 0.38% tin (Sn), 0.86% zinc (Zn) and 64 ppm indium (In). Access to the property remains excellent all year round and is close to infrastructure. Please note that the mineralization hosted on the former Mount Pleasant tungsten and molybdenum mine is not necessarily indicative of the mineralization hosted on the Company’s property.
The Company will soon begin the compilation work for the whole property. Goldstar is planning an airborne geophysical survey that would cover the entire property during the summer of 2018, prior to undertaking the prospecting program to be prepared and designed by the exploration team. The purpose of the present work will be to advance the Victoria Lake project to a drill ready status.
Benoit Moreau, President and CEO of Goldstar comments: “While the Victoria Lake Project is still in the early stages, we are pleased to stake additional ground insuring that we will be able to work the whole prospective camp. We look forward to compiling the historical work done on the property in preparation for the upcoming detailed field exploration in the summer of 2018 which should lead to the establishment of drill ready targets.”
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., CEO and director of the Company. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For more information, please contact:
President and CEO
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This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.