Canstar Resources Provides Exploration Update: Commences Ground Geophysics on Mary March Property
June 25 2014 - 6:00AM
Marketwired Canada
Canstar Resources Inc. (Canstar); (TSX VENTURE:ROX) is pleased to announce the
commencement of its summer exploration program, beginning with a ground
geophysical survey at its Mary March Property near Buchans Junction,
Newfoundland. Canstar will be implementing a deep-penetrating induced
polarization (or "IP") geophysical survey in order to enable maximum depth
visualization on the property, with focus on the wide mineralization encountered
near the Nancy April Zone. This type of technology and depth penetration
represents the most detailed and comprehensive survey of its kind to have ever
been conducted on the property and utilizes state-of-the-art geophysical
methods. The results of this survey will be used for target generation where any
new targets will be drilled in the subsequent drilling program also anticipated
in the coming months.
2014 Induced Polarization Survey
In contrast to previous geophysical methods utilized on the Mary March Property
throughout its exploration history, the IP method is not hindered by potential
poor conductivities. It is now well established that the prevalent
mineralization at Mary March is very similar to that of the former producing
Buchans Mine, which is that of a zinc-rich mineralization with poor
electro-conductive properties; the Buchans Mine was one of Canada's all-time
highest grade VMS ore 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 utilizing an IP geophysical method, Canstar hopes to detect these
otherwise difficult-to-find mineralized areas where we understand there to be
the highest potential for mineralization based on geology and previous drilling.
The technology for IP geophysical methods has advanced in the last decade such
that detection capabilities are now common to vertical depths in excess of 300
meters. Such advancements will greatly enhance Canstar's capability in
unraveling both the mineralization on the Mary March Property and the structure
that controls it.
2014 Drilling Program
Canstar Resources actively plans to conduct a diamond drilling program on the
Mary March Property. The Company has existing geological targets based on 2013
drilling as well as a very high priority geophysical target generated from the
Borehole Electromagnetic surveys ("BHEM") conducted in winter of 2014. Drilling
is anticipated to commence shortly after the collection of data from the
announced IP survey, which will be incorporated into the generation and refining
of targets on the property. The Company will announce more details on the
program upon commencement.
2014 Kenora Gold Project
Canstar has commenced preliminary work on its recently optioned Kenora Gold
Project and plans to conduct a reconnaissance mapping and sampling program in
July of this year. This work will lead to the definition of key areas of highest
potential where more detailed exploration work will be conducted. Work on the
Kenora Gold Project will be ongoing throughout the year and developments from
this work will be announced as they are compiled.
Mr. Danniel Oosterman, P.Geo., the President and CEO of the Company, is a
"Qualified Person" under National Instrument 43-101 and has reviewed the
technical disclosure in this press release.
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:
Danniel J. Oosterman, P. Geo.
President & CEO
E: doosterman@canstarresources.com
Karen Willoughby
Director Corporate Communications
T: 1-866-936-6766
E: kwilloughby@canstarresources.com
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