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The Company currently holds 10,511 hectares (105 km2) of mineral claims (100%
Having untested EM targets and a trend almost 4 kilometres long with little exploration in a high-grade VMS camp is quite exciting, especially as the world looks for new sources of critical metals like copper and zinc from mining-friendly jurisdictions.”
Highlights of the Buchans Claims and Data Compilation
Buchans VMS deposits are prolific due tohigh grades of Zn, Pb, Cu, Ag and Au mineralization.
Compared to other VMS camps, the
Buchans area has hadlittle modern, systematic explorationThe Buchans Claims havegood road access, power lines, and local communities. Exploration and drilling costs in the
Buchans area are relatively low due to these factors.A 2017 SkyTEM Time-Domain Airborne Electromagnetic survey highlightedmultiple electromagnetic (“EM”) anomalies. EM anomalies in VMS districts can coincide with massive sulphides or alteration associated with localized hydrothermal venting. The EM anomalies on the Company’s claims have had only shallow, wide-spaced drill testing and remain prime exploration targets.
Drilling on the Mary March JV Claims in the 1990s resulted in thebest drill intercepts outside of the
Buchans Mine area(all are historic unverified assays):MM-294-3 – 4.2 g/t Au, 122 g/t Ag, 10.1% Zn, 1.8% Pb, 0.64% Cu over 9.63 metres (“m”);
MM-294-3 – 72.4 g/t Ag, 3.0% Zn, 1.1% Pb, and 0.13% Cu over 20.6 m; and
MM-294-11 – 12.2 g/t Au, 660 g/t Ag, 16.8% Zn, 5.4% Pb, and 0.2% Cu over 0.91 m.
The
Mary March drill intercepts are on strike with a 3.8 kilometre (“km”) structural trend containing rock grab samples grading up to 5.7% Cu, 29.4 g/t Ag and 1.2 g/t Au1from a 2019 trench (see news release datedSep. 9, 2019 and Figure 2). This5 km trend has never been drill tested
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Figure1 - Canstar Mineral Tenements near the
Buchans-Mary March Data Compilation
Recently,
Despite the long history of mineral exploration around the
Historic drilling on the Mary March JV claims in the 1990s yielded the best drill results outside of the
In 2019,
1.1 g/t Au, 29.4 g/t Ag, and 5.7% Cu
1.5 g/t Au, 54.2 g/t Ag, and 2.3% Cu
1.9 g/t Au, 23.5 g/t Ag, and 1.1% Cu
The rock seen in trench MM-TR-01 is interpreted as debris flow containing clasts of massive sulphide, a pronounced characteristic of some of the
As illustrated in Figure 2, the interpreted airborne magnetic data shows a potential trend approximately 5 km long that includes the historic discovery drill hole, trench MM-TR-01 samples, as well as historic copper-in-soil anomalies. Approximately 3.8 km of this trend has seen little exploration and is a priority target.
Click Image To View Full Size
Figure2 -
Qualified Person
Acknowledgements
About
For further information, please contact:
Email: rob@canstarresources.com
Phone: 1-647-247-8715
Website:www.canstarresources.com
Forward-Looking Statements
Neither
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. 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. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation toupdate or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
1 Readers are advised that rock grab samples are selective by nature and values reported may not represent the true grade or style of mineralization across the property.
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