Starr PEAK Initiates Soil Sampling Exploration Phase at Newmétal Project and Provides Exploration Program Update
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STARR PEAK INITIATES SOIL SAMPLING EXPLORATION PHASE AT
NEWMÉTAL PROJECT AND PROVIDES EXPLORATION PROGRAM UPDATE
Vancouver, British Columbia – October 23rd, 2023 – Starr Peak Mining Ltd. ("Starr Peak" or
the "Company") (TSXV:STE) (OTCQX:STRPF) is pleased to announce that a soil sampling
program will be commencing on its NewMétal property (“NewMétal” or “the Property”), located
in the Abitibi Greenstone Belt of Québec near the town of Normétal.
This phase of exploration will focus on the west ward trend, towards Amex Exploration’s Perron
Project, of gold and base metal findings from the previous Norm etmar 2021 and 2022 drilling
phases. The northern part of the property will also be covered in order to do a follow-up and better
define 2022 drilling results ( see Figure 1). See press release dated on May 18, 2022: Starr Peak
Reports 5.03% Zinc-Equivalent Over 12.5 Meters, High Grade Copper Intercept, And Discovery
Of New 1 KM Long VMS Horizon (https://starrpeakminingltd.com/news/starr-peak-reports-5.03-
zinc-equivalent-over-12.5-meters-high-grade-copper-intercept-and-discovery-of-new-1-km-long-
vms-horizon/)
Johnathan More, Chairman and CEO of Starr Peak commented, “Starr Peak is sitting on a strong
cash position and now feel it is a good time to get back into the field. The soil survey will be
complementary to the 2021 VTEM survey and allow for a gold investigation in a more systematic
and directed approach. The 2022 drilling campaign has shown the potential for base metals and
gold mineralisation in the northern part of the pr operty and will be further investigated. We will
then set priority targets as we prepare for the next stage of drilling.”
In addition to better defining the 1 km long VMS horizon, the survey will cover hole STE-22-112
that returned anomalous gold results hosted into the granodioritic Pluton de Normétal, located in
the North-East part of the property. Gold results were 4.5 g/t Au over 0.30m and 0.45 g/t Au over
0.40m. The soil survey will be analyzed by the Ionic Leach TM method (ALS Global), which
measures the concentration of me tal ions in the soil. The Ionic Leach method aims to detect
mineralization through deep overburden cove rage. Geochemical an omalies sourced from
ore-grade mineralization often present sharp a nd high-amplitude signals, which are ideal for
drill targeting.
Figure 1 : Geological Map of the NewMétal property locating the soil survey coverage, with
respect to Amex Exploration’s Perron Project
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Qualified Person
Alexis Paulin Bissonnette, Ing. (OIQ 5037621), an independent Qualified Person as defined by
Canadian NI 43-101 standards, has reviewed and approved the geological information reported in
this news release. The drilling campaign and the quality control program have been planned and
supervised by Alexis Paulin Bissonnette. Core logging and sampling were completed by Laurentia
Exploration. The quality assurance and quality control protocol include insertion of one blank, one
standard and one duplicate every 25 samples, in addition to the regular insertion of blank,
duplicate, and standard samples accredited by AL S Canada Ltd. during the analytical process.
Additionally, sample weight is ta ken prior shipment to validate sample identity. Gold values are
estimated by fire assay with finish by atomic absorption. Zinc, Copper and Silver values are
estimated by four acid digesti on multi elements Inductively Coupled Plasma – Atomic Emission
Spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and silver
values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. Zinc values over 30%
are estimated by potentiometric titration, ZN-VOL50. The Qualif ied Person has not completed
sufficient work to verify the hi storic information on the Propert y, particularly in regards to
historical drill results. However, the Qualified Person 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. Although
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the percentage estimation is a good guide to the concentration of c opper and zinc we can expect
from future drill core assays, one must always be cautious about making estimations with respect
to metal concentrations and on the basis of visual estimation.
References and disclosures
Normétal historical Mine and Normetmar:
Summary Report, Normetmar Project, January 1988 by L. Boivin
*Metal Factor zinc equivalent formula: Zn_eq (%)* Core length
Zn_eq (%) = Zn(%) + [Cu(%) * Cu price (lb) / Zn price (lb)] + [Ag(%) * Ag price (oz) * 14,632
/ Zn price (lb) ] + [Au(%) * Au price (oz) * 14.632 / Zn price (lb)]
Zn_eq % based on US$: 1.2$/lb Zn, $3.5/lb Cu, $25/oz Ag, $1800/oz Au.
The historical information on the Longitudinal has not been validated otherwise than with the
information inside historical reports and cross sections. Exact location of historical drill hole
pierce points on the longitudinal may be different.
The Company wishes to caution that historical resources described above are historical. The
historic resources are relevant to give a ballpark estimate of the potential on the property. Historical
resources should not be relied upon. The key assumptions, parameters and methods used to
prepare the historical estimate is not known and thus the difference between the historic estimates
and NI 43-101 compliant estimates is also not k nown. The historical estim ates used categories
other than the ones set up in sections 1.2 and 1.3 of National Instrument 43-101, Standards of
Disclosure for Mineral Projects. A qualified pers on has not reviewed the historical estimates and
has not done sufficient work to cl assify the historical estimates as current mineral resources and
Starr Peak is not treating the historical estimates as current mineral re sources under National
Instrument 43-101 and CIM Standards for mineral resources and reserves. Further exploration
work needs to be done to correctly evaluate these historical resources. Additionally, the
methodology of calculation is unknown by the qualified person.
Grab samples are selective by nature and the va lues reported may not be representative of the
mineralized zone.
Mineralization hosted on adjacent and/or nearby pr operties is not necessarily indicative of
mineralization hosted on the Company’s property.
Previous Financing Disclosure
Further to the Company’s news release dated May 4, 2023, the Company advises that it paid finders
fees in cash of $36,000 and $114,000 to Cairo Malhi and Joshua Lacey-Rogers, respectively, in
respect of closing of its non-brokered private placement of 6,250,000 units at $0.40 per unit.
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On Behalf of the Board of Directors of Starr Peak Mining Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
About Starr Peak Mining Ltd.
Starr Peak Mining Ltd. is a Canadian base d 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, expl ore and develop high potential a nd quality gold and base metal
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: 515-401-7479
https://www.starrpeakminingltd.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the
content of this news release.
No securities regulatory authority has either approved or disapproved of the contents of this news
release. The securities being offered have not been, and will not be, registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws,
and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S.
person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption
therefrom. This press release is for information purposes only and does not constitute an offer to
sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
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, uncertainties
and other factors that may cause ac tual results, performance or achievements to be materially
different from those implied by such statem ents. Although such statements are based on
management's reasonable assumptions, Starr Peak a ssumes no responsibility to update or revise
forward-looking information to reflect new events or circumstances unless required by law.
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Although the Company believes th at the expectations and assumptions on which the forward-
looking statements are based are reasonable, undue reliance should not be placed on the forward-
looking statements because the Company can give no assurance that they will prove to be correct.
Since forward-looking statements address future events and conditions, by their very nature they
involve inherent risks an d uncertainties. These statements speak only as of the date of this press
release. Actual results could differ materially from those currently anticipated due to several
factors and risks including various risk factors discussed in the Company's disclosure documents
which can be found under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Sectio n 21E the Securities Ex change Act of 1934, as
amended and such forward-looking statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved
the contents of this press release.
SOURCE Starr Peak Mining Ltd.