Click here to close now.

SYS-CON MEDIA Authors: Elizabeth White, Liz McMillan, Lori MacVittie, Eva Belanyiova, tru welu

News Feed Item

Star Minerals Group Ltd. Announces Updated Exploration Activities of Joint Venture Partner

SASKATOON, SASKATCHEWAN -- (Marketwired) -- 07/08/14 -- Star Minerals Group Ltd. (CSE: SUV) ("Star") is pleased to announce updated exploration activities as reported by its joint venture partner Lakeland Resources Inc. ("Lakeland") (TSX VENTURE: LK)(FRANKFURT: 6LL), where Lakeland was granted an option to acquire a 100% interest in two claims totaling 1,092 hectares located near the settlement of Stony Rapids in the Athabasca Basin, Saskatchewan.

In preparation for the summer 2014 field program at the Star Property, Lakeland has received a review of historic and recent exploration from project consultants Dahrouge Geological Consulting Ltd. of Edmonton, AB; and notes the following:

Highlights


--  A one-day exploration program in 2013 found a number of surface grab
    samples enriched in gold, platinum group elements (PGE's), and Rare
    Earth Element's (REE's);

--  Two outcrop samples described as altered, black, cryptocrystalline and
    approximately 200 m apart contained highly anomalous concentrations of
    gold and PGE's, as follow:

    --  Sample 79441: 1.8 g/t Au, 0.08 g/t Pt; 0.12 g/t Pd
    --  Sample 79447: 5.7 g/t Au; 0.36 g/t Pt; 0.39 g/t Pd

--  A sandstone boulder with anomalous uranium values also contained strong
    enrichment in heavy rare earth elements; while a nearby outcrop
    contained 6.9% TREO's:

    --  Sample 79442 (boulder sample): 257 ppm Uranium, 0.3% TREO (includes
        1,216 ppm Dy2O3 and 321 ppm Y2O3)
    --  Sample 79447 (outcrop sample): 6.9% TREO (dominantly Light REE
        enriched).

Project Geology and Target Potential

The Star Property covers a quasi-circular basement uplift along the northern margin of the Athabasca Basin, immediately north of the Company's Gibbons Creek Property (under option to Declan Resources Inc.). This structural feature is considered an ideal location for the development of uranium occurrence's associated with the unconformity or sub-unconformity of the Athabasca Basin.

A small portion of the uplifted basement outcrop on the Star Property was prospected with very promising results, as highlighted earlier. In total, 8 outcrop samples and 2 boulder samples were collected. The highly anomalous concentrations of gold (up to 5.7 g/t Au), platinum group elements (0.75 g/t PGE's), rare earth elements (up to 6.9% TREO) and highly anomalous uranium; suggest the presence of a robust hydrothermal system.

The potential for such a regional hydrothermal system is demonstrated by intense alteration associated with historic uranium mineralization within the Gibbons Creek Property located immediately to the south. Within the Athabasca Basin, there are a number of projects where highly anomalous precious metals and/or rare earth elements occur in spatial relation to Uranium deposits and/or mineralization. Examples of such mineralization include the Nicholson Bay and Fish Hook Bay U-Au-PGE occurrences, and the MAW Zone- Wheeler River occurrences.

Preliminary mineralogical work on the REE-bearing samples includes SEM analysis (Scanning Electron Microscope); BSE analysis (Electron Back-Scatter Analysis); and EDS (Energy Dispersive Spectrometry) and reveals the following:

Sample #79442 - The Heavy REE values are from fine-grained xenotime. The modal mineralogy of the sample reveals primarily quartz, with xenotime (3.1%) and about 1.3% kaolinite/illite clay. Diagenetic-Hydrothermal xenotime accumulations are known elsewhere in the Athabasca Basin region, and have been associated with some unconformity-style uranium deposits (McArthur River, Key Lake, McLean Lake and others).

Sample #79446 - The sample contains 23.6% monazite, with 16.75% kaolinite/illite clay.

About the Property

The Star Property benefits from historic exploration including modern geophysics and drilling completed by Star Minerals in 2005 to 2008; and work by Eldorado Nuclear in the 1970's and 1980's. The Property is considered highly prospective for U, Au, PGE's and REE mineralization. It also benefits from nearby infrastructure, with power lines and highways nearby.

NI 43-101 Disclosure

The technical information above has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of Lakeland by Neil McCallum, P.Geo., of Dahrouge Geological Consulting Ltd., a qualified person.

Analytical Methods

All rock samples were delivered to Activation Laboratories Ltd., an ISO Certified Laboratory. All samples were analyzed by a 39-element "partial digestion" with ICP-MS/ICP-OES analysis; and a 49-element "total digestion" with ICP-MS/ICP-OES analysis. Uranium values are converted to U3O8 values with the conversion factor of 1.1792.

Samples with high REE values were tested using the 8-REE method whereby the sample is treated with lithium metaborate/tetraborate fusion with subsequent analysis by ICP-MS and ICP/MS analysis. All REE samples reported herein were derived using this method. Total Rare Earth Oxides ("TREO") include: La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, and Y2O3.

All samples were tested using the 1C-OES-Exploration method Fire Assay (with Platinum and Palladium) on a 30 gram aliquot with an ICP finish.

Joint Venture Terms

Under the terms of the joint venture agreement, Lakeland has the right to earn a 100% interest in the two claims by making cash payments totaling $60,000 and issuing 600,000 common shares over a 12 month period. Star has retained the option of a 25% buyback for payment of 4 times the exploration monies spent by the Purchaser to the date that the buyback option is exercised. The buyback option will be exercisable at any time up to a 90 day period following the completion and publication of a 43-101 compliant resource estimate.

Jim Engdahl President & CEO of Star Minerals Group says, "I am very pleased with the exploration results released by our Joint Venture partner and look forward to the next phase of work."

About Star Minerals Group Ltd.

Star is a Saskatoon-based, diversified exploration stage company, with a primary focus on strategic technology metals, and its advanced joint venture rare earth project Hoidas Lake. To advance exploration, the Company has leveraged the strength and experience of its management, board of directors and advisors to identify and acquire strategic investments that have the capability to generate cash flow with low capital expenditure costs.

The Company entered into a joint venture in an advanced rare earth project in Saskatchewan - Hoidas Lake. Star also holds a strategic gold exploration property in the Seabee gold mining district, diamond properties in the Fort a la Corne region as well as base metal and uranium properties.

STAR TRADES ON THE CSE UNDER THE SYMBOL "SUV".

For more information, please visit our website at www.starminerals.ca.

Forward Looking Statements

This news release contains certain statements which constitute forward-looking statements or information ("forward-looking statements. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Star's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Star believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. Other factors that could materially affect such forward-looking statements are described in the risk factors in the most recent management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Star does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. This cautionary statement expressly qualifies the forward-looking statements contained in this document.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
"We are the top stocking distributor for HP renew products in North America. We can only sell to U.S. authorized partners and resellers for HP," explained Miguel Diazdelcastillo Jr., Sales Executive at Creative Business Solutions, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Ulunsoft is a start-up that focuses on how enterprises build cloud-based IT infrastructure for business," explained Haibo Zhu, President of Ulunsoft Corp, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
"SOASTA built the concept of cloud testing in 2008. It's grown from rather meager beginnings to where now we are provisioning hundreds of thousands of servers on a daily basis on behalf of customers around the world to test their applications," explained Tom Lounibos, CEO of SOASTA, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that SUSE, a pioneer in open source software, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SUSE provides reliable, interoperable Linux, cloud infrastructure and storage solutions that give enterprises greater control and flexibility. More than 20 years of engineering excellence, exceptional service and an unrivaled partner ecosystem power the products and support that help ...
The basic integration architecture, as defined by ESBs, hasn’t changed for more than a decade. Most cloud integration providers still rely on an ESB architecture and their proprietary connectors. As a result, enterprise integration projects suffer from constraints of availability and reliability of these connectors that are not re-usable across other integration vendors. However, the rapid adoption of APIs and almost ubiquitous availability of APIs amongst most SaaS and Cloud applications are ra...
"We have developers who are really passionate about getting their code out to customers, no matter what, in the shortest possible time. Operations are very focused on procedures and policies," explained Stan Klimoff, CTO of Qubell, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
“Will Jaya is a direct source for server integration and storage solutions. If you are looking for any specific configurations for a project we can help you configure based on your needs and requirements," explained Netty Goya, CEO of Will Jaya, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"SendGrid sends about 15 billion emails a month and process all the events associated with that, about a trillion events a year," explained Aaron Beach, Senior Data Scientist at SendGrid, in this SYS-CON.tv interview at Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.