Red Star Gold – Unga Gold Project, Alaska
With the 3 key pieces to the puzzle now in place, is Redstar Gold driving on the road to success?
Redstar Gold (TSX.V:RGC) is an excellent example of the changes a Junior must make in order to survive and succeed in today’s tough markets.
Having a portfolio of high grade gold projects located in North America isn’t enough to guarantee success in this market. You have to have all three key pieces of the puzzle.
- Great project/s
- Access to capital
- Great management
April 6, 2017: Redstar Gold Corp. (TSX.V: RGC, OTCQB: RGCTF, FRA: RGG) (“Redstar” or the “Company”) is pleased to announce that the Company has commenced the Spring 2017 Exploration Program, starting with a detailed surface geophysics program at the Shumagin Gold Zone within the Unga Gold Project. The Shumagin Gold Zone is one of multiple gold zones within the district-scale Unga Gold Project, and was recently drilled in the fall of 2016. The 2016 drill program successfully expanded the drilled strike length of the Shumagin Gold Zone by 600 meters to approximately 950 meters, and highlighted the strong continuity of high-grade mineralization along strike and at depth. The ground based geophysical program will test the potential southwest extension of the Shumagin system and assist in defining new drill targets.
Redstar’s President & CEO, Peter A. Ball, stated, “We are excited to begin the ground based geophysical program to further test the strike length of the Shumagin Gold Zone. The zone currently has been drill tested over a strike length of approximately one kilometer, and our geophysical program will assist in defining the interpreted continuation of the Shumagin structure to the southwest, with a goal to test the structure with a targeted follow-up drill program in May 2017. With a strong treasury, the Shumagin Gold Zone is our priority heading into the 2017 Spring Exploration Program, but other numerous gold zones within the Unga Gold Project provide significant opportunity for multiple gold discoveries.”
The 2017 Spring Exploration Program will begin with a ground-based geophysical program consisting of an initial detailed “orientation survey” that will test the geophysical responses associated with well-known geological features and high-grade gold mineralization located across the Shumagin Gold Zone. This will be immediately followed by a 5000m drilling program.
The orientation survey will produce a geophysical fingerprint that will be used to target the trace of the Shumagin Fault and potentially identify additional blind, structurally-controlled gold-bearing breccia bodies localized along the structures to the southwest towards Orange Mountain. Approximately 2 kms of untested potential for additional blind discoveries exists between Orange Mountain and Shumagin.
The thickest breccia bodies and highest gold-silver grades within the Shumagin Gold Zone are localized along syn-mineral NE-EW dilation zones that are part of a major regional structural corridor that crosses Unga Island from coast-to-coast for approximately 9.5 kms and is interpreted to have localized epithermal alteration and mineralization along the Shumagin Trend.
Geological Highlights of the Shumagin Gold Zone and Trend:
- The Shumagin Gold Zone is currently defined over a strike length of approximately 1.2 kms by surface mapping and sampling.
- Geological mapping and sampling towards the southwest from Shumagin indicates a very strong expansion potential along strike for an additional three (3) kms towards Orange Mountain, the interpreted hydrothermal center along the Shumagin Trend.
- The Shumagin Trend is approximately 9.5 kms long, and is a major regional structure responsible for the localization of epithermal mineralization and associated alteration exposed about its strike length.
- Results from the 2016 fall drill program at the Shumagin Gold Zone, indicate that high-grade gold-silver mineralization occurs at depth for approximately 950 meters of tested strike length, is vertically extensive (to approximately 330 meter at depth), and remains open at depth across the entire strike length.
About the Unga Gold Project
The 100% controlled Unga Gold Project is an intermediate-sulfidation epithermal district located along the Alaskan Peninsula on adjacent Unga and Popof Islands, approximately 950 km southwest of Anchorage, Alaska. The 240-km2 property contains numerous volcanic-hosted, structurally-controlled and disseminated gold-silver mineral occurrences localized along at least two (2) regional structures (Shumagin Trend and Apollo-Sitka trends), each measuring approximately 9.5 km long. High-grade gold zones drilled or identified at surface occur within dilation zones along the regional and/or subsidiary structures and are the main exploration target-type for the project. The Shumagin Gold Zone is only one of several noteworthy gold-silver structures found on Redstar’s Unga Gold Project and is a high-priority exploration target.
Jesse C. Grady, MSc, CPG-11592, is a Qualified Person as defined by NI 43-101. Mr. Grady has prepared and approved the technical information contained within this release.
About Redstar Gold Corp
Redstar is well-financed junior exploration company, with a very strong institutional shareholder base, no debt, and is focused on high-grade gold exploration and advancing its high-grade Unga Gold Project in Alaska. The 100% controlled Unga Gold Project is an intermediate sulfidation epithermal high-grade gold project on a district scale, with the property encompassing approximately 240 km2, and containing multiple high grade gold zones drilled or identified at surface. The former Apollo-Sitka gold mine, located on the southern Apollo-Sitka Trend, was Alaska’s first underground gold mine and the site of historic high-grade (~10 g/t Au) gold production. The Unga Gold Project has extensive infrastructure with daily flights from Anchorage landing on a one mile long paved airstrip and a deep-water port on neighboring Popof Island, and a moderate climate noting it resides at the 55th degree latitude and next to the ocean. In addition, Redstar owns approximately 22.2% of NV Gold Corp. (TSXV: NVX). Redstar also owns 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada.
On Behalf of the Board of Directors,
Peter A. Ball, President and CEO
For additional information please contact:
Toll Free: 877.310.3330
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.
Forward-Looking Information This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corporation (the “Company”) expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change