Eagle Star Minerals Corp. Files NI 43-101 report on Investmine Iron Property, North Eastern Brazil
July 28, 2010, Vancouver, British Columbia: Eagle Star Minerals Corp., (TSX.v: EGE) (FSE: E6R.F) (“Eagle star” or "the Company") is pleased to announce that it has filed with the TSX Venture Exchange the NI 43-101 report on the Investmine iron property located in the state of Piaui – Northeastern Brazil. The report authored by Mr. Ruben S. Verzosa, P. Eng. is dated June 21, 2010 can be referred to on SEDAR (www.sedar.com). Under it’s earn in agreement dated February 10, 2010 the Company can earn an undivided 55% interest with an option to increase its stake to 100%.
Mr. Verzosa states that although this property consists of fairly new claims with limited historical and previous work the “claims appear to be entirely underlain by sequences of Archean orthogneiss, migmatites, muscovite and biotite schists, agglomerate, re-crystallized limestone and Banded Iron Formation (BIF). The BIF where fully exposed measures 25 metres wide and is typically comprised of alternating laminae of magnetite, hematite, martite, specularite, chert and jasper. Grab samples from outcrops and floats returned significant values ranging from 17% to 69% Fe2O3. Limited geological mapping and prospecting led to the discovery of significant BIF within the three main claim blocks. There is a dearth of rock outcrops in the area despite shallow overburden. However, the common occurrence of red soil containing magnetite along access roads is considered a guide to the nearby presence of BIF. The different rock units are generally foliated with strikes varying from northeast to east northeast and dips ranging from 30 degrees to vertical. Limited mapping suggests the presence of northeasterly trending synforms and antiforms”
During 2008 and 2009 the current claim holders conducted a limited work program consisting of prospecting, reconnaissance mapping and review of existing magnetometer survey data resulting in the discovery of showings of significant iron mineralization and high iron grades with coincident extensive magnetic anomalies on the three main claim blocks Cavalerio, Serrinha and Morro do O suggesting an excellent exploration potential for the entire property.
The report recommends a one phase work program of USD$500,000 consisting of detailed geologic mapping of all known BIF occurrences, reconnaissance mapping and prospecting, a detailed magnetometer survey, trenching and diamond drilling. The work program was commenced in June, 2010, and expenditures will count towards Eagle Star’s earn in option.
This news release was reviewed and approved by Mohan R. Vulimiri, M.Sc., P.Geo, who is qualified person under the NI 43-101 guidelines. Mr. Vulimiri is the senior advisor to the Company with respect to the Company’s Brazilian Iron project.
About the Company
Eagle Star Minerals Corp. is a Natural Resource company headquartered in Vancouver, British Columbia, focused on the acquisition, exploration and development of mineral properties in North and South America. The Company’s shares are publicly traded on the TSXv under the symbol EGE and on Frankfurt Stock Exchange under the symbol E6R.F.
On behalf of the Board of Directors
EAGLE STAR MINERALS CORP.
“Eran Friedlander”
Eran Friedlander, President
For more information contact: Balraj Mann, CFO
Phone: 1-604-601-2018 Email: [email protected]
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
Suite 600 – 666 Burrard Street, Vancouver, B.C., Canada, V6C 2X8 Tel. 604-601-2018 Fax. 604-688-1320 | www.eaglestarminerals.com
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