TriStar Provides Update on Advances at Castelo de Sonhos
SCOTTSDALE, Ariz., April 17, 2018 (GLOBE NEWSWIRE) -- TriStar Gold Inc. (the “Company” or “TriStar”) (TSX.V:TSG) is pleased to provide an update on several new initiatives underway or recently completed at the 100% owned Castelo de Sonhos gold project located in Pará State, Brazil.
- Field mapping and surface reconnaissance in Esperança East has confirmed gold in panned concentrates from outcrops, leading to the prioritization of new drilling targets in areas where resource have not previously been estimated.
- The project site is now connected to the national electrical grid.
- Advanced state-of-the-art metal detection is being tested for rapidly screening samples for gold content; if successful, this technology could allow more rapid identification of drill targets this year, and, in the future, considerably improve grade control and material sorting.
Nick Appleyard, TriStar’s President and CEO. “This is the year when much of the project’s upside is going to come to the forefront: the resource, our proximity to good infrastructure, our strong understanding of the geology, and the deposit’s predominantly free gold and sulphide-free, clean and simple metallurgical characteristics.”
Field mapping and surface reconnaissance in Esperança East
To prioritize drilling targets at Esperança East, TriStar has completed a field mapping and surface reconnaissance program and conducted a series of tests of rapid manual gravity concentration (“panning”) to establish the linkage between assay gold grades and gold in pan concentrates.
- Field mapping has produced a better understanding of the details of bedding orientations and supplied dozens of new measurements of local directions of continuity.
- Pan concentrates are valuable in identifying mineralization in outcrops, and for rapidly determining whether to extend drilling in reverse circulation holes (holes are deepened beyond the initial target depth when gold can be identified in pan concentrates from the last few sample intervals).
Esperança East lies on the fault block that separates Esperança South from Esperança Center. Soil sampling, geophysics and structural geology all point to the likelihood that the conglomerate band in Esperança East is the “bridge” of gold mineralization that connects the strong mineralization at the north end of Esperança South to the mineralization at the south end of Esperança Center (see Figure 1).
Connection to the national electrical grid
The Castelo de Sonhos project is very close to the major highway that also serves as a corridor for electrical power. TriStar, in cooperation with local farmers, has participated in the Brazilian federal government’s rural electrification program. This month, the Castelo de Sonhos project site was connected to the national grid, and no longer needs to rely on diesel generators.
Advanced high-precision metal detection technology
- TriStar is undertaking a proof-of-concept study that aims to establish whether high precision metal detectors are able to screen waste rock from rock with gold mineralization.
In February 2018, TriStar met with Fortress Technology, a Canadian company with production facilities in Brazil, that specializes in high precision metal detection for the food products industry. With Fortress’ detectors able to measure metallic constituents at the parts-per-billion level, their industrial detectors clearly have the precision to detect gold at the parts-per-million levels often encountered in modern gold deposits.
In March, TriStar delivered to Fortress’ offices in São Paulo, Brazil, a suite of rock samples and calibration samples that will serve as the basis for a proof-of-concept study that aims to establish whether high precision metal detectors are able to screen waste rock from rock with gold mineralization.
Metal detection is possible in this type of paleoplacer deposit, and not so much in other gold deposits as the vast majority of the rock is non-metallic quartz; there are no sulfides like pyrite that would mask and complicate the exceptional electrical properties of gold.
TriStar is optimistic that this, or similar, technology might be an innovation that allows more rapid identification of drill targets this year, and, in the future, better grade control and efficient material sorting.
Mo Srivastava (P.Geo.) VP of TriStar is the Qualified Person for the technical information presented in this press release and has approved its publication.
TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have potential to become significant producing mines. The Company’s current flagship property is Castelo de Sonhos in Pará State, Brazil. The Company’s shares are listed on the TSX Venture Exchange under the symbol TSG. Further information is available at www.tristargold.com.
For further information, please contact:
TriStar Gold Inc.
President and CEO
Neither the 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation which are not historical facts and are made pursuant to the "safe harbour" provisions under the United States Private Securities Litigation Reform Act of 1995. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects” or “it is expected”, or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward looking statements in this press release include, the scope and success of the planned exploration program at the Castelo de Sonhos project and the Company's opinion that it has clear title to the Castelo de Sonhos property Such forward-looking statements are based upon the Company's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause the Company's plans to change include changes in demand for and price of gold and other commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments in Brazil; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of the Company’s projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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