|By Marketwired .||
|June 25, 2014 07:00 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/25/14 -- Canstar Resources Inc. (Canstar); (TSX VENTURE: ROX) is pleased to announce the commencement of its summer exploration program, beginning with a ground geophysical survey at its Mary March Property near Buchans Junction, Newfoundland. Canstar will be implementing a deep-penetrating induced polarization (or "IP") geophysical survey in order to enable maximum depth visualization on the property, with focus on the wide mineralization encountered near the Nancy April Zone. This type of technology and depth penetration represents the most detailed and comprehensive survey of its kind to have ever been conducted on the property and utilizes state-of-the-art geophysical methods. The results of this survey will be used for target generation where any new targets will be drilled in the subsequent drilling program also anticipated in the coming months.
2014 Induced Polarization Survey
In contrast to previous geophysical methods utilized on the Mary March Property throughout its exploration history, the IP method is not hindered by potential poor conductivities. It is now well established that the prevalent mineralization at Mary March is very similar to that of the former producing Buchans Mine, which is that of a zinc-rich mineralization with poor electro-conductive properties; the Buchans Mine was one of Canada's all-time highest grade VMS ore producing 16.2 million tonnes averaging 14.50% Zn, 7.56% Pb, 1.33% Cu, 126 grams per tonne (g/t) Ag and 1.37 g/t Au between 1928 and 1984. By utilizing an IP geophysical method, Canstar hopes to detect these otherwise difficult-to-find mineralized areas where we understand there to be the highest potential for mineralization based on geology and previous drilling. The technology for IP geophysical methods has advanced in the last decade such that detection capabilities are now common to vertical depths in excess of 300 meters. Such advancements will greatly enhance Canstar's capability in unraveling both the mineralization on the Mary March Property and the structure that controls it.
2014 Drilling Program
Canstar Resources actively plans to conduct a diamond drilling program on the Mary March Property. The Company has existing geological targets based on 2013 drilling as well as a very high priority geophysical target generated from the Borehole Electromagnetic surveys ("BHEM") conducted in winter of 2014. Drilling is anticipated to commence shortly after the collection of data from the announced IP survey, which will be incorporated into the generation and refining of targets on the property. The Company will announce more details on the program upon commencement.
2014 Kenora Gold Project
Canstar has commenced preliminary work on its recently optioned Kenora Gold Project and plans to conduct a reconnaissance mapping and sampling program in July of this year. This work will lead to the definition of key areas of highest potential where more detailed exploration work will be conducted. Work on the Kenora Gold Project will be ongoing throughout the year and developments from this work will be announced as they are compiled.
Mr. Danniel Oosterman, P.Geo., the President and CEO of the Company, is a "Qualified Person" under National Instrument 43-101 and has reviewed the technical disclosure in this press release.
On behalf of myself and 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.