VANCOUVER, BC, July 21, 2020 /CNW/ - Starr Peak
Exploration Ltd. ("Starr Peak" or the "Company") (TSXV: STE)
(OTC: STRPF) is pleased to announce that it has entered
into an agreement with Laurentia Exploration to become Starr Peak's geological consultant for the
exploration of the NewMétal Property ("NewMétal" or
"the Property"). Laurentia Exploration offers a full
suite of exploration services to primarily Quebec-based companies. The firm has been
involved in several significant discoveries and exploration
programs in recent years, and specializes in the planning,
execution, and interpretation of exploration programs and
strategies with a particular expertise in gold-rich VMS and
orogenic gold mineralization that is directly related to the
mineral targets at the Property.
Johnathan More, Chairman and CEO
of Starr Peak commented, "We are
thrilled to have the opportunity to have Laurentia Exploration in
charge of our exploration program. Their continuing success working
with our neighbors, Amex Exploration, gives us a huge advantage.
They have explored and drilled in excess of 100,000 meters for Amex
which gives Starr Peak a massive
head start to understanding the geology and defining our drill
targets. It is also important to note that Amex has been having
huge success drilling in an easterly direction which is extremely
close and on trend and strike to our Newmetal property."
The NewMétal project was recently expanded to a total of 64
mineral claims covering 1,888 hectares of highly prospective
ground. The property claims are comprised of a block directly
adjacent to the past-producing Normétal Mine and on trend to Amex
Exploration Inc.'s Perron project. The geology underlaying the
Property is comprised of felsic and intermediate volcanic and
felsic plutonic rocks of the Normétal formation and is highly
prospective for gold-rich VMS mineralization and orogenic gold
mineralization.
Starr Peak, in association with
Laurentia Exploration, has recently launched an initial program of
compilation, prospecting, and geological mapping, and plans to
complete an airborne EM survey and high-resolution MAG drone
geophysics in the fall of 2020 in order to prepare for an inaugural
drilling campaign in winter of 2021.
The NewMétal Property is located in the Abitibi Greenstone Belt
of Quebec, along the Chicobi
Deformation Zone. The Property is directly adjacent to Amex
Exploration Inc.'s Perron property, from which recently announced
drill results include 44.22 g/t Au over 9.10 metres and 30.98 g/t
Au over 8.50 metres, and the past-producing Normétal Mine, from
which ~10.1M tonnes of 2.15% Cu, 5.12% Zn, 0.549 g/t Au, and 45.25
g/t Ag were extracted during the periods of 1926-1929, 1931-1933,
and 1937-1975 and developed down to a depth of 2.7 km below
surface.
The NewMétal Property is cross-cut by the Normetal Fault Horizon
associated with gold and base metal mineralization along strike.
The property is also located in the eastern extension of the Perron
fault known to be a prolific gold bearing structure. Geology
underlaying the Property consists of favourable rhyolite and mafic
volcanic rocks, as well as diabase dikes and granitic intrusions.
Two known mineral showings occur on the Property. The Rang I-Lots
44-57 showing was identified in diamond drilling in 1966, with
samples reaching up to 0.02% Cu and 2.38% Zn over 0.15 metres in
historical drillhole Sondage 1-66, and up to 1.02 g/t Au occurring
over unknown widths in drillhole Sondage 93-05. The
Perron-Desmeloizes-Nord showing is a surface showing identified in
1952 with select samples reaching up to 14.5 g/t Au.
Qualified Person
Alexis Paulin
Bissonnette, Ing. (OIQ 5037621), an independent Qualified
Person as defined by Canadian NI 43-101 standards, has reviewed and
approved the geological information reported in this news release.
The Qualified Person has not completed sufficient work to verify
the historic information on the Property, particularly in regards
to historical drill results. However, the Qualified Person believes
that drilling and analytical results were completed to industry
standard practices. The information provides an indication of the
exploration potential of the Property but may not be representative
of expected results.
References
Perron-Desmeloizes-Nord:
http://sigeom.mines.gouv.qc.ca/signet/classes/I1103_index?format=COMPLET&type_reqt=U&mode=NOUVELLE&l=A&entt=GM&numr_utls=2755180&alias_table_crit=F4E02&mnen_crit=NUMR_INTER&oper_crit=EGAL&valr_crit=4018
Rang I-Lots 44-57:
http://sigeom.mines.gouv.qc.ca/signet/classes/I1103_index?format=COMPLET&type_reqt=U&mode=NOUVELLE&l=A&entt=GM&numr_utls=2755180&alias_table_crit=F4E02&mnen_crit=NUMR_INTER&oper_crit=EGAL&valr_crit=4019
Amex Exploration Perron Project:
Amex Exploration Inc. Press Releases dated July 16, 2020 and May 21,
2019
Normetal Mine:
Summary Report, Normetmar Project, January
1988 by L. Boivin
On Behalf of the Board of Directors of Starr Peak Exploration
Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
About Starr Peak Exploration Ltd.
Starr Peak Exploration Ltd. is a Canadian based mineral
exploration company focused on the acquisition and exploration of
precious and base metal mineral deposits. The primary objective of
the Company is to acquire, explore and develop high potential and
quality gold deposits and projects in the Americas. The Company is
committed to create long term shareholder value through mineral
discoveries.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
the content of this news release.
No securities regulatory authority has either approved or
disapproved of the contents of this news release. The securities
being offered have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws, and may not be
offered or sold in the United
States, or to, or for the account or benefit of, a "U.S.
person" (as defined in Regulation S of the U.S. Securities Act)
unless pursuant to an exemption therefrom. This press release is
for information purposes only and does not constitute an offer to
sell or a solicitation of an offer to buy any securities of the
Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking
Information:
This press release contains forward-looking information based
on current expectations, including the use of funds raised under
the Offering. These statements should not be read as
guarantees of future performance or results. Such statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to be
materially different from those implied by such statements.
Although such statements are based on management's reasonable
assumptions, Power Metals assumes no responsibility to update or
revise forward-looking information to reflect new events or
circumstances unless required by law.
Although the Company believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this press release. Actual
results could differ materially from those currently anticipated
due to several factors and risks including various risk factors
discussed in the Company's disclosure documents which can be found
under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The TSXV has neither reviewed nor approved the
contents of this press release.
SOURCE Starr Peak Exploration Ltd.