TriStar Drilling Update, Goldspot Work and Directors Exercise Options
TriStar Drilling Update, Goldspot Work and Directors
Exercise Options
Scottsdale, Arizona--(Newsfile Corp. - February 6, 2020) -
TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) ("the Company" or
"TriStar") is pleased to announce that drilling for the pre-feasibility study is advancing well with results including 4m @ 10.8 g/t
gold in hole RC-19-383 (46m to 50m downhole) as targeted, highlighting the continuity and predictability of the system.
GoldSpot Discoveries Corp. are making good progress on their gold target generation work and two directors of TriStar have
exercised a total of 2.8 million employee stock options at prices of C$0.18 and C$0.20, adding $C534,000 to the treasury.
"Results from the pre-feasibility drilling program continue to be positive and are confirming our understanding of the continuity of
this large gold system. Drilling is expected to continue through March with results expected in the second quarter of 2020" stated
Mr. Nick Appleyard, TriStar's President and CEO. He added, "Our work with GoldSpot has already identified machine learning
algorithms that will be tested using the wide range of data available at Castelo de Sonhos to help establish new drilling targets.
Of particular interest, will be the deeper targets that will help test the theory of gold enrichment along the contact between the
underlying granite and the conglomerate".
Pre-feasibility Drilling
In January 2020, results from 10 RC drill holes from the in-fill program were received.
All of which contained significant gold
intersections. Some highlights include:
Hole RC-19-383,
4m @ 10.8 g/t
, from 46 to 50m downhole
RC-19-387,
15m @ 0.8 g/t
, from 13 to 28m and
20m @ 0.6 g/t
from 42 to 62m
RC-19-388,
15m @ 1.1 g/t,
from 36 to 51m
RC-19-390,
3m @ 1.1 g/t,
from 10 to 13m and
4m @ 1.6 g/t
from 68 to 72m
RC-19-391,
9m @ 1.5 g/t,
from 105 to 114m
A complete table of all significant intervals along with a set of cross sections is available on our CDS project webpage. All recent
holes are drilled vertically with most having a target depth of 120m. True widths of the mineralized intersections are
approximately 90% of the indicated drill length. The RC program is expected to be about 20,000m in total and to date we have
completed 106 holes for a total of 11,783m.
Figure 1, RC drill holes that returned assay results in January 2020. Shown is Esperança South and the location of the 2019
PEA conceptual open pits.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4509/52167_c608ebc7944ca800_002full.jpg
Figure 2, Location map of Castelo de Sonhos in Pará state, Brazil.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4509/52167_c608ebc7944ca800_003full.jpg
Assay Methods, Quality Assurance and Quality Control (QA/QC)
All drill hole samples are analyzed using a fire assay analysis of the chips collected from RC holes. Any sample that returns
greater than 0.1 g/t gold is automatically submitted for a duplicate fire assay analysis and the average grade is used. Samples
are transported by truck from the site to the ALS preparation lab in Goiania, Brazil, where they are dried, crushed, pulverized and
packaged for shipment to the ALS analytical lab in Lima, Peru.
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.
Qualified Person
R. Mohan Srivastava (P.Geo.), Vice President of TriStar, is the Qualified Person who has reviewed the technical information
contained in this news release and has approved its disclosure.
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 are listed on the TSX Venture Exchange under the symbol
TSG
and on the OTCQB under the
symbol
TSGZF
. Further information is available at
www.tristargold.com
.
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 statements about the
use of the proceeds from the Offering and the anticipated sufficiency of the Company's existing capital in order to complete a
pre-feasibility study on the Castelo de Sonhos project. 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.
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