|By Marketwired .||
|February 10, 2014 07:00 AM EST||
TORONTO, ONTARIO -- (Marketwired) -- 02/10/14 -- Canstar Resources (Canstar) (TSX VENTURE: ROX) is pleased to announce the commencement of a borehole electromagnetic survey ("BHEM") at its Joint Ventured Mary March Project, located near Buchans Junction, Newfoundland. The survey will test for the continuation of the massive sulphide mineralization and thick stockwork mineralized zone encountered in its fall 2013 drilling program (see Company's press release dated January 21st, 2014).
Danniel Oosterman, President and CEO, remarks "With the completion of a successful drilling program that intercepted different styles and widths of mineralization, there is now a strong indication from the geology that we are proximal to the volcanic centre where one would expect these types of deposits to form. An off-hole anomaly from this survey would support this hypothesis and generate excellent targets for future drilling programs."
The drillholes that will be surveyed cover the two primary areas of the project, Nancy April and Mary March, which have returned significant mineralization and strong indications of a sizeable, long-lived, hydrothermal system. The fall 2013 drilling program successfully proved that both the Mary March mineralization and the Nancy April mineralization extend at least in one direction, with a possibility for further extension in a number of directions.
The design of the survey, which involves loop-wire configurations through which an electric current is charged, has been tailored to suit massive sulphide and stockwork mineralization of this type. Geophysical anomalies in these areas would represent very high priority targets for future exploration on the property.
Danniel Oosterman, P.Geo, is President and Chief Executive Officer and is a Qualified Person as defined by NI43-101 and is responsible for the technical information in this release.
On behalf of the Board of Directors,
Danniel J. Oosterman, P.Geo President & CEO
Neither 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. This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.