Canstar Announces Initial Drill Results, Including 9.6 g/t Gold over 7.8 Metres, from Golden Baie Project, Newfoundland
220 Bay Street TSX-V: ROX
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Canstar Announces Initial Drill Results, Including 9.6 g/t Gold
over 7.8 Metres, from Golden Baie Project, Newfoundland
Toronto, Ontario – August 19, 2021 – CANSTAR RESOURCES INC. (TSXV: ROX & OTCPK:
CSRNF) (“Canstar” or the “Company”) is pleased to announce assay results from the first two
holes of its 5,000 metre diamond drill program on the Golden Baie project in south Newfoundland.
Holes GB-21-01 and GB-21-02 were drilled from the same pad at the Kendell Target, located in
the centre of the 62,175 hectare claim package (Figure 1). These holes were drilled to intersect
the downdip projection of significant quartz veining in a surface trench that was excavated earlier
this year (Figure 2). Both drill holes intersected a z one of gold mineralization associated with
multiple small quartz veins and sulphide mineralization and assay highlights are provided in Table
1. Hole GB-21-01 was angled at 45 degrees towards the east and intersected 9.64 g/t gold over
7.75 metres, starting at 7.45 metres downhole (Figure 3). Hole GB-21-02 was a near-vertical drill
hole and intersected 2.09 g/t gold over 7.92 metres including 9.59 g/t gold over 1.03 metres ,
starting at 15.15 metres downhole.
Rob Bruggeman, President & CEO of Canstar, stated: “ Having the first hole from the 2021 drill
program return the best grade -intercept ever reported on the Golden Baie project is a fantastic
start to the drill program. More importantly, t he initial assay results from the Kendell Target
indicate a broad zone of gold mineralization that starts at surface and is believed to dip at an
estimated 30-40 degrees towards the northwest . Future assay results are expected to further
define the dip an d orientation of the mineralized system. The initial results are very promising
because orogenic gold systems can extend over great distances , as recently demonstrated at
other gold projects in central Newfoundland. W e plan to step out and attempt to foll ow this
mineralized zone as it gets deeper in order to evaluate the potential for zones with higher grades
or broader widths.”
Table 1 - Highlight Assay Results from Reported Drill Holes
Drill Hole
From
(m) To (m) Thickness (m) Gold (g/t)
GB-21-01 7.45 15.20 7.75 9.64
and 21.95 22.80 0.85 2.03
GB-21-02 15.15 23.07 7.92 2.09
including 15.15 16.18 1.03 9.59
All intersections are downhole length as there is insufficient information to calculate true width.
Kendell Target Overview
Trench TGB-20-01 was excavated in the fall of 2020 and intercepted NE -SW trending quartz
veins of varying thickness along a strike length of approximately 70 metres, approximately 16
metres of which contained visible gold. Seven channels were saw cut and sampled with the best
results being 10.17 g/t gold over 3.0 metres and 6.20 g/t gold over 5.0 metres (seen news release
dated Nov. 30, 2020).
Trench TGB-20-01 was expanded perpendicular to strike in the northwest direction in May 2021.
The trench extension encountered a thick section (~4m) of abundant, visible gold bearing quartz
veins in strongly sheared metasediments (see news release dated Jun. 8, 2021 ). The g rab
samples from the newly identified quartz veins assayed up to 34 g/t gold and the first 22 drill holes
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(~1,200 metres) of drilling in the 2021 program was targeting the extension of these quartz veins.
Due to the extensive deformation of the rocks, the initial drill holes are fairly short and tightly
spaced, oriented at dips of 45 to 88 degrees to follow the mineralization and better understand
the structure and orientation. (Note: the reader is cautioned that rock grab samples are selective
by nature and values reported may not represent the true grade or style of mineralization across
the property.)
Figure 1 - Golden Baie Property with key gold occurrences noted and 2021 drill target area in red ellipse.
Figure 2 - Plan View of Kendell Target Showing Surface Trenches and Drill Trace for Holes GB-21-01 and GB-21-02
N
A A’
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Figure 3 - Section A-A’ Showing Reported Drill Holes and Trench Grab Assays (looking north)
2021 Drill Program Status
The 2021 summer drill program is focusing primarily on the area from the Kendell Prospect to the
Blow Out Prospect (Figure 1). Drilling commenced on June 8 and is expected to continue until
the end of August, 2021. To date, 45 drill holes have been completed for a total of approximately
4,300 metres. Drilling of the Blow Out target is currently being completed, after which the drill rig
will return to the Kendell target. The Company expects to complete at least 50 drill holes for over
5,000 metres of total drilling as part of this program, with assays expected to be received until the
end of October. The timing of the next phase of the drill program is being evaluated.
Acknowledgements
Canstar wishes to acknowledge the financial support of the 2021 exploration program through the
Junior Exploration Assistance Program from the Department of Natural Resources, Government
of Newfoundland and Labrador.
Table 2 - Collar Data for Reported Drill Holes
Hole ID Location UTME UTMN Azimuth Dip Total Depth
GB-21-01 Kendell 596787.3 5297893 88 -45 166
GB-21-02 Kendell 596787.3 5297893 88 -88 62
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QA/QC:
All rock and soil samples were collected by company personnel and shipped to Eastern Analytical
of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited
and completely independent of Canstar Resources Inc. Most rock samples were crushed to 10
mesh (2000 μm) and a 250g split pulverized to 150 mesh (89 μm). The core samples are being
entirely pulverized to 150 mesh (89 μm). Splits of the pulverized samples are analyzed for gold
using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP -OES
analysis for 34 additional elements. Metallic screening is being used for samples with visible gold
and all samples with initial fire assays over 25 g/t. In addition to Eastern Analytical’s quality control
program of standards, blanks and duplicates, Canstar utilizes its own reference materials, blanks
and duplicate samples to ensure data quality. In addition duplicates of selected samples are being
sent to a second laboratory as check assays.
Qualified Person
Bob Patey, B.Sc. , P.Geo, Senior Geologist of Canstar, and a Qualified Person as defined by
National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the
scientific and technical data presented herein and has reviewed and approved this release.
About Canstar Resources Inc.
Canstar is focused on the discovery and devel opment of economic mineral deposits in
Newfoundland and Labrador, Canada. Canstar has an option to acquire a 100% interest in the
Golden Baie Project, a large claim package (62,175 hectares) with recently discovered, multiple
outcropping gold occurrences on a major structural trend in south Newfoundland. The Company
also holds the Buchans -Mary March project and other mineral exploration properties in
Newfoundland. Canstar Resources is based in Toronto, Canada, and is listed on the TSX Venture
Exchange under the symbol ROX and trades on the OTCPK under the symbol CSRNF.
For further information, please contact:
Rob Bruggeman, President & CEO
Email: [email protected]
Phone: 1-647-247-8715
Website: www.canstarresources.com
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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 Compan y’s future plans, objectives or goals,
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information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral
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conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s
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the forward-looking information in this news release are reasonable, undue reliance should not be placed on such
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will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise
any forward -looking information, whether as a result of new information, future events or otherwise , other than as
required by law.