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Goldstar Minerals Inc.

TSXV Exchange | Dec 11, 2019, 3:00 AM EST | Real-time price

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Goldstar completes its diamond drilling program on its Lake George Property in New Brunswick, Canada

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

MONTRÉAL, Oct. 17, 2019 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Corporation”) (TSX-V: GDM) is pleased to announce that its third phase diamond drilling program has been completed with the shipping of all core samples to the laboratory. The Corporation drilled 10 holes totaling 2,606 metres. The objective of the drilling was to test at least 4 distinct magnetic anomalies that could represent buried intrusions associated to potential Intrusion-Related Gold Systems (‟IRGS”) as well as to determine the optimal drilling direction for the Arabica tungsten zone.

Drilling highlights are as follows:

  • A shallow, altered, mineralized in sulfides and heavily faulted interval roughly 100 metres wide from the surface in hole LG-19-05.
     
  • A wide mineralized in sulfides interval with biotite alteration of more than 100 metres in hole LG-19-06.
     
  • An antimony mineralization consisting of stibnite within a strongly altered zone at least 6 metres wide and another mineralized zone at least 100 metres wide, consisting of sulfides, in hole LG-19-07.
     
  • A continuous mineralized tungsten interval of at least 50 metres was returned in hole LG-19-08. Preliminary observations suggest that this hole was drilled in the optimal direction.

The Corporation expects to release its first drilling results in the coming weeks. Benoit Moreau, President and CEO of Goldstar comments: “The Corporation is very pleased to complete its third phase diamond drilling program and looks forward to receiving assay results.”

Goldstar is focused on developing deposits that contain gold and technology metals, such as tungsten and tin, in leading mining jurisdictions in Canada.

Disclosure

The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., CEO and director of the Corporation. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

For further information, please contact:

Benoit Moreau
President and Chief Executive Officer
Telephone: 514-591-8058
bmoreau@goldstarminerals.com

François Perron
Vice-President of Corporate Development
Telephone: 416-312-4811
fperron@golstarminerals.com

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 may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

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