Canstar Hits Multiple High-Grade Intersections in Kendell Drilling INTERSECTS 3.2 G/T GOLD OVER 22 METRES AT KENDELL PROSPECT AND REPORTS DRILLING RESULTS FROM MULTIPLE TARGETS
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Canstar Hits Multiple High-Grade Intersections in Kendell Drilling
INTERSECTS 3.2 G/T GOLD OVER 22 METRES AT KENDELL PROSPECT AND REPORTS DRILLING
RESULTS FROM MULTIPLE TARGETS
Toronto, Ontario – March 13, 2023 – CANSTAR RESOURCES INC. (TSXV: ROX & OTCPK:
CSRNF) (“Canstar” or the “Company”) is pleased to announce assay results from diamond drilling on
its Golden Baie project in south-central Newfoundland, which took place in the fall of 2022 . Drilling
tested six target areas, including Kendell, Hillside, 97 West, Northbrush, Osprey, White Out and Wolf
Pond (Figure 1) along a ~15 kilometre (“km”) prospective trend. In total, 6,471 metres (“m”) were
drilled in 51 holes. Notable drill intercepts are provided in Table 1 and full results and drill hole details
are provided in Tables 2 and Table 3, respectively. All assays from the drill program have now been
received.
Highlights:
• Kendell Prospect – 3.2 g/t gold (“Au”) over 22.0 m and 4.3 g/t Au over 14.0 m . Gold
mineralization at the Kendell prospect has been expanded to 1 95 m down -plunge to the
northwest.
• New zone at Wolf Pond target – 0.8 g/t Au over 11.5 m and 1.9 g/t Au over 6.7 m in a newly
discovered shallow zone located 300 m southeast of historic drilling in the area.
Table 1 - Fall 2022 drill assay highlights
Hole Target From
(m)
To
(m)
Length
(m)
Au
(g/t)
GB-22-121 Kendell 15.0 37.0 22.0 3.18
including 28.0 29.0 1.0 18.12
GB-22-120 Kendell 38.0 39.0 1.0 6.26
and 63.0 68.0 5.0 6.55
GB-22-107 Kendell 41.3 55.3 14.0 4.32
including 41.3 42.3 1.0 21.27
including 49.3 50.3 1.0 15.80
including 48.3 51.3 3.0 9.15
GB-22-102 Kendell 58.0 62.0 4.0 5.97
including 61.0 62.0 1.0 19.70
GB-22-112 Kendell 60.0 63.0 3.0 6.99
including 62.0 63.0 1.0 18.29
GB-22-111 Kendell 62.7 68.7 6.0 1.77
WP-22-04 Wolf Pond 37.0 43.7 6.7 1.86
WP-22-02 Wolf Pond 31.5 43.0 11.5 0.78
including 31.5 36.5 5.0 1.16
97W-22-11 97 West 7.2 8.2 1.0 5.20
97W-22-09 97 West 5.0 6.0 1.0 1.00
and 8.0 9.0 1.0 4.67
Notes:
1. All intersections are downhole length as there is insufficient information to calculate true width.
2. Reported grades have not been capped.
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Matthieu Lapointe, Vice President Exploration, stated: “ Our drill program in the fall of 2022 tested
multiple targets that were generated using a combination of prospecting, geophysics, and
geochemistry. This approach advanced our understanding of the geology and the effectiveness of
various tools. In the process, we continued to expand the Kendell prospect. We also validated the
large soil anomaly at Wolf Pond and believe this area has significant potential for widespread, bulk
tonnage gold mineralization. In addition to follow-up work in these areas, the team is looking forward
to continuing work on the newly discovered, high-grade Facheux Bay, Blow Out East and Wood Cutter
targets. Unlike most of the north -easterly portions of the Golden Baie property, Facheux Bay is
sparsely covered with glacial till. The increase in bedrock exposure at Facheux Bay has allowed us to
efficiently prospect and quickly identify and prioritize targets.”
Figure 1 – Golden Baie drill targets and select exploration results (drill results reported in this
release are bolded).
Kendell Prospect
Drilling at Kendell focused on expanding the footprint of mineralization to the northwest , in the
interpreted down-plunge direction. Twenty holes were drilled for a total of 2,438 m (Figure 2). Drilling
successfully extended gold mineralization down-plunge to the northwest and west-northwest. Hole
GB-22-102 intersected 5.8 g/t Au over 4.0 m at a downhole depth of only 58.0 m (Figure 3). This
intercept is approximately 15 m down-plunge of hole GB-22-92, which intersected 6.1 g/t gold over
3.6 m at a downhole depth of 52.5 m (see July 5, 2022, news release). The total known down-plunge
length of gold mineralization at the Kendell prospect is now estimated to be 195 m.
To further define the geometry of the plunging mineralization, four drill holes were oriented east-west
as opposed to the typical northwest -southeast drill orientation. The east -west orientation was
designed to intersect the northwest plunging shoot at a more perpendicular drill angle. All four drill
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holes with this orientation intersected significant gold mineralization including GB-22-107 (4.3 g/t Au
over 14.0m), GB-22-112 (7.0 g/t Au over 3.0 m), GB-22-120 (6.6 g/t Au over 5.0 m) and GB-22-121
(3.2 g/t Au over 22.0 m) (Figure 3).
Holes GB -22-106, GB -22-110, GB -22-111, GB-22-115, GB-22-116 and GB -22-117 were drilled
approximately 20 m southeast of the known mineralization. Gold mineralization was encountered in
four of these holes: GB -22-110 (1.7 g/t Au over 3.0 m - with visible gold), GB-22-111 (1.8 g/t Au
over 6.0 m), GB-22-115 (0.3 g/t Au over 16.0 m) and GB -22-116 (1.0 g/t over 6.4 m) (Figure 4).
Gold mineralization in these holes suggests the plunging zone is possibly changing direction and open
to the west-northwest.
Holes GB -22-108 and GB -22-109 were drilled approximately 20 m northeast of the known
mineralization and Holes GB -22-113, GB -22-114 and GB -22-118, GB -22-119 were drilled
approximately 45 m southwest of the defined plunging mineralized zone. No significant gold
mineralization was intersected in these holes suggesting that the zone narrows in this area, but
remains open at depth.
Figure 2 – Drill hole collar map Kendell prospect (drill results reported in this release are bolded).
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Figure 3 – A-A’ Cross section looking northeast from Kendell prospect (drill results reported in this
release are bolded).
Figure 4 – B-B’ Cross section looking northeast from Kendell prospect (drill results reported in this
release are bolded).
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Wolf Pond Target
Historic drilling at Wolf Pond in the 1980s delineated a mineralized zone (the “Wolf Pond Gold Zone”)
averaging 2 to 3 m thick with grades of 3 to 5 g/t gold within a broader envelope 5 to 8 m thick
averaging 1 to 2 g/t gold . The Wolf Pond Gold Zone was delineated by previous operators over a
strike length of 450 m and to a depth of 165 m (Figure 5) and is open both along strike and at depth.
Approximately 300 m southeast of the Wolf Pond Gold Zone is a 1,200 m by 50 m gold-in-soil anomaly,
with values ranging from 30 to 752 ppb gold , which had never been drill tested. Canstar drilled four
holes totaling 679 m into the soil anomaly, testing approximately 150 m of strike length. All four holes
intersected gold mineralization with the best results from the two most north-easterly holes WP-22-04
(1.9 g/t Au over 6.7 m) and WP-22-02 (0.8 g/t Au over 11.5 m including 1.2 g/t Au over 5.0 m).
Mineralization is associated with arsenopyrite-stibnite-bearing quartz veins hosted in felsic -
intermediate volcaniclastics intercalated with sediments.
Figure 5 – Drill hole collar map Wolf Pond target (drill results reported in this release are bolded).
97 West Target
The 2022 fall drill campaign at 97 West targeted gold mineralization in trenches excavated during
2021 and tested the graphitic shale horizons that also host the high -grade gold mineralization at the
Kendell prospect, located approximately 3.5 km to the southwest. Thirteen holes (1,787 m) were drilled
(Figure 6) in the 97 West area . Drill hole 97W-22-01 was drilled beneath a 2021 channel sample of
13.1 g/t gold over 1.0 m (trench 97W-21-TR01) and returned an intersection of 1.9 g/t Au over 2.0 m,
starting at 13 m downhole. Drill holes 97W-22-07 and 97W-22-09 to 97W-22-13 were collared 200 m
to the northeast of the 2021 trench es in an area identified during 2022 trenching. All six holes
encountered gold mineralization. The best results include hole 97W-22-11 which assayed 5.2 g/t Au
over 1.0 m starting at a down hole depth of 7.2 m and hole 97W-22-09 with 4.7 g/t Au over 1.0 m
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starting at a down hole depth of 8.0 m. Gold mineralization is related to quartz -carbonate veining
hosted in grey shales with disseminated arsenopyrite-stibnite.
Reconnaissance Drilling
Canstar completed scout drilling on several early-stage exploration targets during the fall drill program.
These included the Northbrush, Osprey, White Out and Hillside targets (Figure 6). Thirteen drill holes
totaling 1,567 m were completed in these target areas, which have significant glacial till cover. Drilling
targeted Induced Polarization (IP) chargeability and resistivity anomalies, soil anomalies and/or
anomalous channel and outcrop samples hosted in favo urable geology (see September 20 , 2022,
news release).
The best assay result of this drilling came from Northbrush hole NB-22-02 which intersected 0.2 g/t
over 16.0 m from a quartz -carbonate vein zone. The best drill intercept on the recently acquired
Golden Eye license (see August 15, 2022, release) was from hole GE-22-06 at the White Out target
which intersected many broad zones of low grade gold mineralization including 0.2 g/t Au over 14.0
m, 0.3 g/t Au over 10.9 m and 0.4 g/t Au over 6.0 m. Gold mineralization in both of these holes is
associated with arsenopyrite-stibnite-bearing quartz veins hosted in intermediate-felsic volcaniclastics
that are variably intercalated with shaley sediments.
Figure 6 – Drill hole collar map 97 West, Northbrush, White Out and Osprey targets (drill results
reported in this release are bolded).
2023 Field Program
Canstar’s technical team is currently preparing plans and prioritizing exploration targets for the 2023
field program. More details will be provided in a future release. 2022 drill results warrant follow -up
exploration in the large Wolf Pond area and at the high-grade Kendell prospect. Advanced exploration
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targets include Wood Cutter, located approximately 1 km south of Wolf Pond, and Facheux Bay, which
is west-southwest of the core licences at Golden Baie. In addition, new exploration targets will be
generated. Given the large size of the Golden Baie project, many areas still have had little or no
exploration work to date , despite confirmation of multiple styles of gold mineralization present
throughout the extensive Golden Baie claim package.
Rob Bruggeman, President and CEO of Canstar, commented: “ Exploration results from our flagship
Golden Baie project continue to be very encouraging. In 2022, we extended known mineralized zones
and continued to generate new targets as expected. Work to date has successfully identified multiple
styles of mineralization – high grade orogenic, which has been our focus so far, and a more
disseminated style with bulk tonnage potential – both of which warrant further work. As we have noted
before, exploration at Golden Baie is at an early stage relative to our neighbours to the north along
the same exciting structural trend. With each successive program, we are enhancing our
understanding of structural controls, size and orientation of the mineralized zones and the broader
potential of this large, highly prospective land position.”
Qualified Person
Matthieu Lapointe, B.Sc., P.Geo., Vice President Exploration 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.
QA/QC:
All 2022 drilling was of NQ-sized drill core. Core samples were split with a diamond saw and half-core
retained for further study after being detail logged and photographed. 2022 drill core samples
were collected by company personnel and shipped to either SGS Labs, Lakefield, ON or SGS MSPU
in Grand Falls -Windsor, NL for preparation of assay pulps. Gold analysis is completed in the SGS
Labs, Burnaby, BC with a 30 g fire assay and AAS finish (code GE_FAA30V5). Samples returning >1
g/t Au are re -assayed with a gravimetric finish (code GO -FAG30V). Mineralized zones with visible
gold are also analyzed by a 500 g screen fire assay with screening to 106 microns (code GO -
FAS30M).
Canstar's QAQC program utilizes four commercially avai lable reference standards, blanks and
duplicate samples to ensure data quality. In addition, duplicates of selected samples are being sent
to a second laboratory as check assays.
Acknowledgements
Canstar wishes to acknowledge the financial support of the 2 022 exploration program through the
Junior Exploration Assistance Program from the Department of Natural Resources, Government of
Newfoundland and Labrador.
About Canstar Resources Inc.
Canstar Resources has a very experienced technical team and board who are focused on new mineral
discoveries in Newfoundland, Canada. Central Newfoundland has emerged as one of the most
exciting gold exploration districts due to recent high -grade orogenic gold discoveries along crustal
scale fault corridors. The Company is focused on gold exploration on 939 km2 of mineral claim licenses
in south-central Newfoundland, including the Golden Baie project which has multiple high-grade gold
anomalies at surface along ~100 km of strike and near-surface drilling confirming the presence of
high-grade orogenic gold . The Company also holds the Buchans -Mary March project in central
Newfoundland.
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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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Company provides no assurance that actual results will meet ma nagement’s expectations. Risks, uncertainties
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Company believes that the assumptions and factors used in preparing the forward -looking information in this
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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.
Table 2 - Fall 2022 drill hole results
Hole Target From
(m)
To
(m)
Length
(m)
Assay
(g/t Au)
WP-22-04 Wolf Pond 37.0 43.7 6.7 1.86
WP-22-03 Wolf Pond 62.0 70.0 8.0 0.32
WP-22-02 Wolf Pond 31.5 43.0 11.5 0.78
including 31.5 36.5 5.0 1.16
WP-22-01 Wolf Pond 31.0 41.6 10.6 0.39
NB-22-03 Northbrush No significant results (“NSR”)