Starr PEAK Expands Newmétal Property BY Acquiring 100% Interest of Past-Producing Normétal MINE and TWO Additional High-Grade Properties
STARR PEAK EXPANDS NEWMÉTAL PROPERTY BY ACQUIRING 100%
INTEREST OF PAST-PRODUCING NORMÉTAL MINE AND TWO
ADDITIONAL HIGH-GRADE PROPERTIES
Vancouver, British Columbia – August 10, 2020 – Starr Peak Exploration Ltd. ("Starr
Peak" or the "Company") (TSX VENTURE:STE) (OTC:STRPF) is very pleased to
announce it has expanded its NewMétal property (“NewMétal” or “the Property”) by acquiring
100% interest into Globex Mining Enterprises projects known as the Normetal/Normetmar gold,
copper, zinc and silver property, the Rousseau gold property and the Turgeon Lake gold
property.
The newly expanded land position in the center of Newmétal includes 10 claims covering 391.53
hectares, growing the property to a total of 74 mineral claims covering 2,279.53 hectares and
now including the past -producing Norm étal Mine, from which ~10.1M tonnes of 2.15% Cu,
5.12% Zn, 0.549 g/t Au, and 45.25 g/t Ag and the Normetmar showing, historic resource of
306,000 t grading 11% Zn was reported by Kerr Addison of which 48,200 t have been mined in
1990. Several gold intersections are reported including 2.19 g/t Au and 236 g/t Ag over 2.56 m
including 3.47 g/t Au and 366 g/t Ag over 1.55 m (Source: Globex drilling 2007- 2008, hole
GN07-09).The newly acquired claims solidifies the land position of NewMétal property and add
two additional gold prospective claim bloc eastward.
The Rousseau gold Property consists in a bloc of 12 claims covering 470.17 hectares and the
Rollmac gold zone of 31,298 tonnes grading 11.99 g/t Au (historical non -compliant NI43-101,
Northern Miner, July 13, 1992). Rollmac gold zone is described by historical work as a
multiples gold bearing quartz veins system hosted in the Val -St-Gilles granodiorite. Historical
work was focused on two principal veins, the Main Vein and the Mercier Vein, located 183
metres northeast of the main vein. Historical works and diamond drill hole made in 2008 confirm
the present of several other gold bearing quartz vein without follow-up.
The Turgeon Lake gold Property, east of th e Rousseau gold property consist of 2 claims
covering 112.91 hectares. Grab samples at the water line are reported to have assayed up to
168.3 g/t Au, 30.2 g/t Au and 23.7 g/t Au (GM 52490). Drill hole LT -96-02 assayed 18.7 g/t Au
over 3.09 m, including 68.9 g/t Au and 10.48 g/t Ag over 0.4 m (GM 54287).
Johnathan More, Chairman and CEO of Starr Peak commented,
“We are thrilled to add the past producer Normetal Mine and the Normetmar showing to our
Newmetal Property. We now are strategically situated on trend and on strike between (and
including) a past producing gold mine and Amex Exploration’s world class discovery.
Additionally, the addition of the Rousseau and Turgeon Lake Properties now defines Starr Peak
as a major player in this district. The historical work is extremely impressive with very high
grade gold being found and we will target these results to try to find a larger gold system. The
successful techniques and new theories that have been instrumental in leading to the major
discovery for our neighbor Amex Exploration will no doubt be applied to all of our properties.”
Starr Peak, in association with Laurentia Exploration, has recently launched an initial program of
compilation, prospecting, and geological mapping, and plans to complete an airborne EM survey
and high- resolution MAG drone geophysics in the fall of 2020 in order to prepare for an
inaugural drilling campaign in winter of 2021.
Figure 1: Geological Map of the NewMétal property wit h the new acquired claims blocs with
respect to Amex Exploration’s Perron Project.
In exchange of the properties , Globex will receive $150,000 in cash payments ($50,000 on
signing, $50,000 at 6 months and $50,000 at one year), 1.2 million Starr Peak shares (currently
$1.64/share) and a 2.5% Gross Metal Royalty, 1% of which may be purchased by Starr Peak
prior to commercial production for $1.5 million. Starr Peak will acquire 100% interest in the
properties subject to the royalty (GMR).
Figure 2: Regional Geology of the Abitibi Greenstone Belt and localisation of Starr Peak's
NewMétal Property.
The NewMétal Property is located in the Abitibi Greenstone Belt of Quebec, along the Chicobi
Deformation Zone. The Property is directly adjacent to Amex Exploration Inc.’s Perron property,
from which recently announced drill results include 44.22 g/t Au over 9.10 metres and 30.98 g/t
Au over 8.50 metres.
The NewMétal Property is cross -cut by the Normetal Fault Horizon associated with gold and
base metal mineralization along strike. The property is also located in the eastern extension of
the Perron fault known to be a prolific gold bearing structure. Geology underlaying the Property
consists of favourable rhyolite and mafic volcanic rocks, as well as diabase dikes and granitic
intrusions. Two known mineral showings occur on the Property. The Rang I -Lots 44-57 showing
was identified in diamond drilling in 1966, with samples reaching up to 0.02% Cu and 2.38% Zn
over 0.15 metres in historical drillhole Sondage 1- 66, and up to 1.02 g/t Au occurring over
unknown widths in drillhole Sondage 93-05. The Perron-Desmeloizes-Nord showing is a surface
showing identified in 1952 with select samples reaching up to 14.5 g/t Au.
Qualified Person
Alexis Paulin Bissonnette, Ing. (O IQ 5037621), an i ndependent Qualified Person as defined by
Canadian NI 43- 101 standards, ha s reviewed and approved the geological information reported
in this news release. The Qualified Person has not completed sufficient work to verify the
historic information on the Property, particularly in regards to historical drill results. However,
the Qualified Per son believes that drilling and analytical results were completed to industry
standard practices. The information provides an indication of the exploration potential of the
Property but may not be representative of expected results.
References
Perron-Desmeloizes-Nord:
http://sigeom.mines.gouv.qc.ca/signet/classes/I1103_index?format=COMPLET&type_reqt=U&
mode=NOUVELLE&l=A&entt=GM&numr_utls=2755180&alias_table_crit=F4E02&mnen_crit
=NUMR_INTER&oper_crit=EGAL&valr_crit=4018
Rang I-Lots 44-57:
http://sigeom.mines.gouv.qc.ca/signet/classes/I1103_index?format=COMPLET&type_reqt=U&
mode=NOUVELLE&l=A&entt=GM&numr_utls=2755180&alias_table_crit=F4E02&mnen_crit
=NUMR_INTER&oper_crit=EGAL&valr_crit=4019
Amex Exploration Perron Project:
Amex Exploration Inc. Press Releases dated July 16, 2020 and May 21, 2019
Normetal Mine:
Summary Report, Normetmar Project, January 1988 by L. Boivin
On Behalf of the Board of Directors of Starr Peak Exploration Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
About Starr Peak Exploration Ltd.
Starr Peak Exploration Ltd. is a Canadian based mineral exploration company focused on the
acquisition and exploration of precious and base metal mineral deposits. The primary objective
of the Company is to acquire, explore and develop high potential and quality gold deposits and
projects in the Americas. The Company is committed to create long term shareholder value
through mineral discoveries.
For more information please contact:
Johnathan More, Chairman & CEO
Tel: 646-661-0409
https://www.starrpeakexploration.com/
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No securities regulatory authority has either approved or disapproved of the contents of this
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Cautionary Note Regarding Forward-Looking Information:
This press release contains forward- looking information based on current expectations,
including the use of funds raised under the Offering. These statements should not be read as
guarantees of future performance or results. Such statements involve known and unknown risks,
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materially different from those implied by such statements. Although such statements are based
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law.
Although the Company believes that the expectations and assumptions on which the forward-
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nature they involve inherent risks and uncertainties. These statements speak only as of the date
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SOURCE Starr Peak Exploration Ltd.