MONTREAL, QUEBEC–(April 23, 2014) - Goldstar Minerals Inc. (TSX VENTURE:GDM) (the « Company » or « Goldstar ») is pleased to announce the results for its Winter 2014 diamond drilling program for its 100% owned Julien Property, located approximately 100 km East of the town of Mattagami, Quebec, Canada. The goal of the Winter 2014 drilling program was to test several coincident induced polarization (« IP ») and magnetic anomalies that were previously outlined during Fall of 2013, for precious and base metals.
A total of 1,337 m of diamond drilling from 8 NQ size holes was completed by a local contractor, Forages Chibougamau of Chibougamau, Quebec. These holes targeted an area approximately 3 km2 in size, between an amphibolite, immediately adjoining the Opatica-Abitibi suture zone, and a diorite intrusion several kilometres wide to the south. The drilling program was able to access the north-central portion of the property.
The results show multiple disseminated zinc-lead-silver intersections with low Cu (copper) and high levels of Mn (manganese), Ca (calcium), Fe (iron) and P (phosphorus) as shown by the widespread presence of spessartine, a manganiferous garnet. This assemblage at the convergence of an intrusive and a rifted suture zone is potentially similar to the Broken Hill type of deposit.
As well, one of the drill holes, JU-14-06, intersected 10 meters of 0.91% Zn, 0.24% Pb, 6.0 g/t Ag and up to 0.03% WO3 within an oxidized metasedimentary quartzo-feldspathic sequence (wacke) in a new, possibly rift-related structure. Relatively higher Zn to Pb ratio suggests that this may represent a distal mineralization or an outside envelope to a mineralized system.
Holes JU-14-01 and JU-14-02 intersected several thin (25 metres wide) banded iron formations (BIF). These BIFs are mainly constituted of pyrrhotite as the dominant Fe sulphide, magnetite and coarse grained spessartine. The relationship of these BIFs with the mineralized intersections is not clear and will require further exploration.
The average overburden thickness is roughly 4.5 metres vertical and highlights the possibility of using soil geochemical prospecting in further exploration as an efficient tool to pinpoint additional mineralized zones.
The best intersections from the 2014 diamond drilling campaign on the Julien Property are as follows:
|TABLE 1 2014 DIAMOND DRILLING PROGRAM|
|JULIEN PROJECT, EAST OF MATTAGAMI AREA|
|TECHNICAL PARAMETERS||COMPOSITE ASSAY RESULTS WITH INTERVAL VALUES GREATER THAN 0.25% Zn|
|Drill Hole||Length (m)||From (m)||To (m)||Length (m)||Zn (%)||Pb (%)||Ag (g/t)||WO3 (%)|
True widths of the reported core intersections are not known, but are estimated to be 70% of these intervals.
Benoit Moreau, President and Chief Executive Officer of Goldstar Minerals, stated: “In addition to the information gathered about the new zinc-lead-silver intersections, the drill program on the Julien property identified potential similarities with a Broken Hill type of mineralization. These results clearly warrant further and more detailed exploration.”
Second Phase of Exploration on Julien Property
As a result of the structures and mineralization discovered in the 2014 Winter drill program, the Company is already planning a second more detailed phase of exploration in the same targeted 3km2 area. This phase, planned for Summer 2014, will, among other things, focus on specific drill holes such as JU-14-06 and include detailed geochemical soil sampling and IP surveys in order to further track and discover underlying vectors for additional mineralizations, confirming the mineralized trend uncovered by the assays.
Quality Assurance/Quality Control
The Julien exploration program has been conducted under the supervision of Mr. Roger Moar, Director of Exploration for Goldstar and a qualified person as defined by National Instrument 43-101. Goldstar has implemented and adheres to a strict Quality Assurance/Quality Control program which includes mineralized standards and blanks for each batch of samples (averaging 1 for every 25). A total of 306 samples of length varying from 0.40 to 2.00 meters were sent for assays from drill core sawed in half with one half sent to la Table Jamésienne de Concertation Minière, an independent preparation facility in Chibougamau, Quebec certified for preparation and the other half retained for future reference. Pulps were sent to ALS Chemex, an independent laboratory, of Val D’Or, Quebec certified for assay.
Samples were assayed for gold by fire assay with atomic absorption spectroscopy finish and all other elements used induced coupled plasma atomic emission spectroscopy (ICP-AES). High grade silver assays were checked using fire assay with gravimetric finish. Quality control procedures consisted of 3 standards and 1 blank inserted every 100 samples.
The scientific and technical information in this news release has been reviewed and approved by Benoit Moreau, Goldstar’s President and CEO, a professional engineer and a qualified person as defined by National Instrument 43-101.
About Goldstar Minerals Inc.
Goldstar Minerals inc. is focused on developing high-value tungsten and related metals deposits in leading mining jurisdictions. The Company is led by a diverse team of explorers, developers and operators with major company experience and a clear understanding of the business of mining. The Goldstar Minerals portfolio includes the Julien zinc-lead-silver-tungsten project, located East of Mattagami, Quebec, the Brockaby tungsten project located northeast of Mont-Laurier, Quebec and the Lake George tungsten project in New Brunswick, all mining friendly jurisdictions.
For more information about Goldstar Minerals Inc., please visit : www.goldstarminerals.com
On behalf of the board of directors of Goldstar Minerals Inc.,
« Benoit Moreau »
President & Chief Executive Officer
FORWARD-LOOKING INFORMATION: This document includes forward-looking information as well as historical information. Forward-looking information includes, but is not limited to, statements with respect to the Company’s planned exploration program for 2014, the continued advancement of the Company’s general business and the Company’s development of mineral exploration projects. When used, in this document, the words « anticipate », « believe », « estimate », « expect », « intent », « may », « project », « plan », « should » and similar expressions may identify forward-looking information. Although Goldstar Minerals Inc. believes that their expectations reflected in this forward-looking information are reasonable and are based on the information currently available to the Company, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with such forward-looking information. Important factors that could cause actual results to differ from this forward-looking information includes the potential for fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the inability to obtain financing and other risks disclosed in the Company’s public filings made with Canadian Securities Regulators and available under the Company’s profile at www.sedar.com. This forward-looking information contained in this press release is made as of the date hereof and the Company does not undertake to update such information, except as required by securities laws.