Continuity Confirmed at TriStar's Castelo de Sonhos as PFS Advances
Continuity Confirmed at TriStar's Castelo de
Sonhos as PFS Advances
Scottsdale, Arizona--(Newsfile Corp. - April 13, 2021) -
TriStar Gold Inc. (TSXV: TSG) (OTCQX: TSGZF)
(the Company or TriStar) is pleased to announce the results from closely-spaced drilling at the Castelo
de Sonhos gold project in Pará State, Brazil.
The results have confirmed that the reefs identified by 50m
spaced drilling are continuous in 10m spaced drill holes.
This is the first step towards a test grade
control program and possible bulk sample analysis.
"This short-range continuity test is just one example of the many areas in which Castelo de Sonhos is
now advancing towards the prefeasibility and permitting," says Nick Appleyard, TriStar's President and
CEO. "As the infill drilling has now finished the drill rigs will be focused on exploration and looking to
grow our resource base in parallel with aggressively moving forward towards completing the PFS."
Figure 1 below shows a north-south cross section through the long-axis a cross of holes drilled 10m
apart in an area of low-to-moderate grade in Esperança South.
In addition to the 10m spaced RC drill
holes, twin holes (within 5m of the original hole) were drilled to directly compare the performance of RC
drilling versus core drilling. The results from these drill holes are not yet complete, although the partial
data currently available appears consistent between the two drilling techniques.
The significant
intersections from the holes drilled in this program are shown in Table 1 below. Results are in line with
expectations, in terms of grade, depth or thickness, given what has been seen in previous drill holes
surrounding the closely-spaced drilling study area.
Figure 1, Closely-spaced drilling at Esperança South, showing gold grades (in g/t) numerically and as
a histogram.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4509/80186_c8efec4fe4506a9e_005full.jpg
Detailed Discussion
TriStar initiated the program of closely-spaced drilling in an area where older drill holes showed
resources with low to moderate grade (0.3 − 1.5 g/t Au) within 24m of the ground surface. The purpose
of this program was to test the continuity of reefs encountered by the 50x50m drilling grid in order to
better understand short-scale variation, an important consideration for the technical and economic
viability that the upcoming PFS will assess. The maps in Figure 2 show the region chosen in Esperança
South for 10x10m grid to a depth of 24m, using both RC and core holes. Assay results have now been
reported by the lab for the 16 holes shown as open circles in Figure 2a; the colored circles show the
average resource grade above 0.3 g/t in the top 24m of the drill holes that pre-date the closely-spaced
drilling program. Figures 2b and 2c show the prediction of resource grade in the top 24m before and
after the assays from the new drill holes are incorporated, using the lithogeochemical model to align the
direction of maximum continuity with bedding.
Although the new drilling provides useful local detail, the predictions of the resource grade and tonnage
for the entire study area change by less than ±5% from Figure 1b (old drilling) to Figure 1c (old drilling +
new 10m drill cross), with the updated resource in this area being about 4% higher than previously
thought. This provides strong confidence that current resource predictions already have the accuracy and
precision expected for preliminary mine planning. One of the most reassuring findings of the new closely-
spaced drilling in this area is that all 16 new holes encountered significant mineralisation in the top 24m;
the grade continuity suggested by the five older drill holes, more widely spaced, has been confirmed by
the new drilling. The drilling plan for 2021 contemplates completion of the 10x10m drilling in this area so
that it could serve, in future, as the location for a bulk sample or test mining if such studies are
recommended by the PFS.
Figure 2, a) Closely-spaced drilling study area with old holes (colored) and new holes (white), and
bedding strike from lithogeochemical model; b) average gold grade of resource in top 24m using only
the old, widely-spaced holes; c) average gold grade of resource in top 24m after assays from new
drilling have been incorporated. Tonnes, grade and in-situ metal content of estimated resource
change by less than 5% when the new drilling is incorporated.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4509/80186_c8efec4fe4506a9e_004full.jpg
Hole
Azimuth
Dip
Depth
(m)
From
(m)
To
(m)
Intersection
CSH-20-496
0°
-90°
25.3
10.5
12
1.5m @ 0.6g/t
CSH-20-497
0°
-90°
25.3
0
9
9.0m @ 0.5g/t
19
25.3
6.3m @ 0.8g/t
CSH-20-498
0°
-90°
25.7
15.4
18.7
3.3m @ 0.7g/t
RC-20-557
0°
-90°
24
3
7
4.0m @ 0.5g/t
18
24
6.0m @ 1.3g/t
RC-20-558
0°
-90°
24
1
24
23.0m @ 0.4g/t
RC-20-559
0°
-90°
24
8
9
1.0m @ 0.5g/t
20
24
4.0m @ 1.1g/t
RC-20-560
0°
-90°
24
13
14
1.0m @ 0.5g/t
23
24
1.0m @ 0.5g/t
RC-20-561
0°
-90°
24
15
20
5.0m @ 0.3g/t
RC-20-562
0°
-90°
24
3
4
1.0m @ 0.4g/t
RC-20-563
0°
-90°
24
13
18
5.0m @ 0.4g/t
21
22
1.0m @ 0.3g/t
RC-20-564
0°
-90°
24
2
5
3.0m @ 0.4g/t
21
24
3.0m @ 1.0g/t
RC-20-565
0°
-90°
24
1
24
23.0m @ 0.5g/t
RC-20-566
0°
-90°
24
0
3
3.0m @ 0.8g/t
RC-20-567
0°
-90°
24
0
1
1.0m @ 0.3g/t
20
22
2.0m @ 0.4g/t
RC-20-568
0°
-90°
24
5
6
1.0m @ 0.8g/t
RC-20-569
0°
-90°
24
5
12
7.0m @ 0.5g/t
19
23
4.0m @ 1.7g/t
Table 1, Significant Intersections from closely-spaced drill holes at Esperança South. Drill holes with
CSH prefix are core holes and those with the RC prefix are reverse circulation.
Qualified Person
Mo Srivastava (P.Geo.) VP of TriStar the Qualified Person for the technical information presented in this
press release, has approved its publication.
Assay methods, Quality Assurance and Quality Control (QA/QC)
Samples are collected from either ½ core in diamond drill holes or ¼ of the chips in reverse circulation
holes collected using a splitter at the drill rig. Samples are transported by truck from site to the ALS lab
in Goiania, Brazil, where they are dried, crushed, pulverized and packaged for shipment to the ALS
analytical lab in Lima, Peru. All samples are analyzed using a 1kg Leachwell analysis.
The ALS preparation and analytical labs are accredited to ISO 17025:2005 UKAS ref 4028, and have
internal QA/QC programs for monitoring accuracy and precision. In addition to this, TriStar uses
standards, blanks and field duplicates in an external QA/QC program to provide independent monitoring
of laboratory analyses.
About TriStar
TriStar Gold is an exploration and development company focused on precious metals properties in the
Americas that have the potential to become significant producing mines. The Company's current flagship
property is Castelo de Sonhos in Pará State, Brazil. The Company's shares trade on the TSX Venture
Exchange under the symbol
TSG
and on the OTCQX under the symbol
TSGZF
. Further information is
available at
www.tristargold.com
.
On behalf of the board of directors of the company:
Nick Appleyard
President and CEO
For further information, please contact:
TriStar Gold Inc.
Nick Appleyard
President and CEO
480-794-1244
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
release. No stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.
Forward-Looking Statements
Certain statements contained in this press release may constitute forward-looking statements under
Canadian securities legislation which are not historical facts and are made pursuant to the "safe
harbour" provisions under the United States Private Securities Litigation Reform Act of 1995.
Generally, forward-looking information can be identified by the use of forward-looking terminology
such as "expects" or "it is expected", or variations of such words and phrases or statements that
certain actions, events or results "will" occur. Forward looking statements in this press release include,
the scope and success of the planned exploration program at the Castelo de Sonhos project and the
Company's opinion that it has clear title to the Castelo de Sonhos property Such forward-looking
statements are based upon the Company's reasonable expectations and business plan at the date
hereof, which are subject to change depending on economic, political and competitive circumstances
and contingencies. Readers are cautioned that such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause a change in such assumptions and the
actual outcomes and estimates to be materially different from those estimated or anticipated future
results, achievements or position expressed or implied by those forward-looking statements. Risks,
uncertainties and other factors that could cause the Company's plans to change include changes in
demand for and price of gold and other commodities (such as fuel and electricity) and currencies;
changes or disruptions in the securities markets; legislative, political or economic developments in
Brazil; the need to obtain permits and comply with laws and regulations and other regulatory
requirements; the possibility that actual results of work may differ from projections/expectations or
may not realize the perceived potential of the Company's projects; risks of accidents, equipment
breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of
cost overruns or unanticipated expenses in development programs; operating or technical difficulties
in connection with exploration, mining or development activities; the speculative nature of gold
exploration and development, including the risks of diminishing quantities of grades of reserves and
resources; and the risks involved in the exploration, development and mining business. Although
management of the Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking statements or forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or
intended. The Company disclaims any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or otherwise, except as required by
applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/80186