Megastar Development Furthers Work on Its Epithermal Au-Ag Projects in Oaxaca, Mexico
MEGASTAR DEVELOPMENT CORP.
#1450 - 789 W. Pender Street, Vancouver, BC, Canada V6C 1H2
Tel.: (604) 681-1568, Fax: (604) 681-8240
Toll Free: 1-877-377-6222
www.megastardevelopment.com
TSX-V: MDV Frankfurt: M5QN OTC: MSTXF
Megastar Development Furthers Work on Its Epithermal Au-Ag Projects in
Oaxaca, Mexico
Vancouver, BC, Canada, September 30, 2020 – Megastar Development Corp. (“Megastar”, or
the “Company”) (TSX-V: MDV; Frankfurt: M5QN; OTC: MSTXF) is pleased to report that
after limited access to its properties as a result of the Covid-19 pandemic, its geologic team is back
on the ground in Oaxaca following up on its encouraging initial exploration work since the
reopening of the region. As well, the team is exploring additional prospective areas in the
proximity on trend with the Company’s existing projects in the Oaxaca epithermal Au-Ag belt.
Preliminary work has revealed new areas of interest with favorable geologic features similar to
those seen at its principal projects and at producing mines along the trend. Geochemical samples
from these new areas have been collected and sent off for analysis.
“Our expansion into new areas has yielded several highly prospective geologic finds consistent
with those seen in producing mine regions elsewhere along the emerging Au-Ag mineral belt,”
said David Jones, Exploration Manager and Director of Megastar. “The systematic application of
our exploration model continues to expand target areas within our existing projects and has guided
us to previously unrecognized mineral districts with additional exploration potential.”
In tandem with community re-engagement at the Yautepec and Magdalena projects, Megastar has
taken the opportunity to expand ongoing exploration work to the southern portion of its Yautepec
project. Based on the Company’s caldera structural model, and supported by previously announced
results, Megastar had speculated on a potential southern extension to the known epithermal
system. Recent start-up field work has proven this concept correct with the discovery of highly
prospective ferruginous (iron-rich) carbonate sinters and fault-controlled quartz veining and
breccias in discontinuous erosional windows under post-mineral volcanic rocks over areas of
several hundreds of meters. Similar to the principal Yautepec sinter-vein complex (see prior NR's
dated July 16, 2019 and August 22, 2019), these new areas represent the uppermost levels of a
strong epithermal system with the potential for bonanza Au-Ag polymetallic grades fully preserved
at depth. These finds add to the already considerable targe t list for exploration drilling that
Megastar has assembled to date.
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ABOUT MEGASTAR DEVELOPMENT CORP.
Megastar Development Corp. is engaged in the evaluation, acquisition and exploration of mineral
properties in Mexico and Canada. Megastar has an option t o acquire 100% interest in three
epithermal Au-Ag mineral properties in Oaxaca, Mexico. Megastar also owns 100% interest in the
Ralleau, VMS/lode gold mineral property in Urban Barry District, Lebel-sur-Quévillon area of
Quebec, currently under 50% option to DeepRock Minerals Inc. (CSE: DEEP). For further
information, investors and shareholders are invited to visit the Company’s website at
www.megastardevelopment.com or call the office at 604-681-1568 or toll free at 1-877-377-6222.
ON BEHALF OF THE BOARD OF DIRECTORS,
” DUSAN BERKA”
Dusan Berka, P. Eng.
President & CEO
Neither the 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 news
release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations,
which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”.
Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”,
“expects” and similar expressions. The Company cautions readers that forward-looking statements, including without
limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and
uncertainties that could cause actual results to differ materially from those i ndicated in the forward-looking
statements.