Canstar Commences Work on its Mary March Project, Buchans Junction, Newfoundland
11 Settembre 2013 - 1:00PM
Marketwired Canada
Canstar Resources Inc. (TSX VENTURE:ROX) (Canstar) is pleased to provide a
corporate update of its upcoming plans for its Mary March JV Project located in
central Newfoundland, Canada. The Company is initiating the first phase of an
exploration program intended to be carried out until the end of 2013.
A comprehensive geochemical sampling program is now underway at the Company's
project facilities near Buchan's, Newfoundland. Systematic sampling of historic
and recently drilled drillcore will be completed over more than 8,000 meters of
core.
The goal of the geochemical sampling program is to provide a fundamental
understanding of nature of the rocks at Mary March. This understanding can be
broken down into two essential components: 1) the chemical signature of more
prospective target horizons, and; 2) the degree and spatial distribution of
hydrothermal alteration on the property.
Because rocks tend to have very specific proportions of elements as a result of
the conditions in which they were formed, we are able to identify specific
stratigraphic horizons based on geochemical analysis of these rocks. Knowing
this will allow us to help identify the horizon we know is associated with the
mineralizing event. This will be very useful in an area where faulting has
complicated this identification in the past.
Hydrothermal alteration occurs when high temperature fluids percolate through
rocks. Ore deposits can form where the hottest fluids find a site to deposit
metals. The rocks around these metallic deposits also change in chemistry as
primary minerals are destroyed by hot fluids and replaced by secondary minerals.
This is known as "alteration". Alteration can form an envelope around these
mineral deposits, allowing explorers to vector toward areas of greater potential
depending on the chemistry of the rocks. Alteration of this kind is not only
observed at the nearby historic Buchans deposit, but in almost every deposit of
this type worldwide. Mapping this phenomenon will enable the Company to
determine which area and direction would represent a more highly prospective
exploration area for follow-up.
The Mary March Project, Canstar's flagship property, occurs in the Buchan's
Group assemblage, which hosts the historic Buchan's Mine. Located only 20
kilometers southwest of the Mary March property, the Buchan's Mine was one of
Canada's highest grade VMS ore deposits of its time, 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 comparison, discovery holes drilled by a
previous operator at Mary March between 1999 and 2000, produced results
including 10.33% Zn, 118.1g/t Ag, 1.62% Pb, 4.1 g/t Au, 0.66% Cu over 9.23 m;
16.8% Zn, 660 g/t Ag, 12.2 g/t Au, 5.44% Pb, 0.18% Cu over 0.91m; and 3.02% Zn,
1.08% Pb, 72.4 g/t Ag, 0.13% Cu, over 20.6m.
"We are very excited to be rolling out our 2013 exploration program which we
believe will identify some key areas where the company can focus future efforts
and help identify new drill targets," says Danniel Oosterman, Canstar's
President and CEO. "This will be one of two work programs to be carried out this
Fall and Winter, as a drilling program is currently in the planning as well.
This is an important step toward further advancing the potential of the Mary
March project."
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canstar Resources Inc.
Danniel J. Oosterman, P.Geo.
President & CEO
doosterman@canstarresources.com
Canstar Resources Inc.
Karen Willoughby
Director Corporate Communications
1-866-936-6766
kwilloughby@canstarresources.com
www.canstarresources.com
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