Looks like the market isn't to amused, stock is getting bid down as I type! :-( Oh well! Not much volume so maybe that's good, tightly held by insiders maybe or RGC is under everyone's radar. As long as it stays above 14 cents I'm a happy camper....................blah,blah, blah. Have a great day! :-) Jokal
News from Marketwire
Redstar Adds Another New Gold Project in Nevada
08:01 EDT Tuesday, October 20, 2009
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 20, 2009) - Redstar Gold Corp. (TSX VENTURE:RGC) has staked a new group of claims twelve miles north of the Long Canyon gold deposit in the Pequop Mountains, Nevada. The new project (called Baker Spring) lies along the eastern range front of the Pequop Mountains, the same setting as Long Canyon, which is a sediment-hosted (Carlin-type) gold system being explored and developed by Fronteer Development Group and AuEx Ventures. Long Canyon is an impressive project with a preliminary indicated and inferred resource of approximately 822,000 ounces of gold.
Scott Weekes, President of Redstar, stated, "Baker Springs is another project acquired as a direct result of information from the AngloGold Ashanti database purchased by Redstar. The extensive geological database acquired from AngloGold Ashanti gives us an advantage in generating high quality gold projects. Since then we have acquired 12 projects and joint ventured several of them giving Redstar shareholders exposure to numerous exploration programs for little cost and little risk. Baker Springs is an under explored project within a very active area of gold exploration in Nevada. Mapping and sampling by Redstar has outlined an extensive area of alteration and trace element geochemistry that has never been drilled."
Baker Spring is a Carlin-type gold target containing multiple structurally-controlled zones of silicification (jasperoid) along north-northwest trending faults, an orientation similar to many of the productive gold deposits of northern Nevada. Extensive replacement-style silicification in Paleozoic carbonate rocks occur marginal to the fault-controlled jasperoids. Although Redstar's sampling to date has not detected elevated gold contents, the jasperoids contain strongly-elevated mercury and other trace metals and locally contain disseminated pyrite and hydrothermal barite, features that are characteristic of Carlin-type gold deposits.
Redstar's U.S. Exploration Manager, Dr. Jacob Margolis, notes: "The range-front setting of Baker Spring is very prospective; the majority of the large gold systems in Nevada are developed in these settings. Also, the strong silification along steep faults indicates there is a local, deep-seated fluid source and we are in the midst of a major plumbing system - which is necessary to form a significant gold deposit. The elevated mercury contents are increasing outboard into the alluvial-covered valley, a possible vector to concealed gold mineralization, as mercury is elevated at Long Canyon to the south. The lack of previous exploration drilling provides a pristine exploration opportunity."
Redstar is a junior exploration company focused on gold exploration in Nevada and Red Lake. Redstar currently has eleven projects in Nevada and one in Red Lake, Ontario. For more information on these projects please visit the company's web site at www.redstargold.com.
On Behalf of the Board, Redstar Gold Corp.
Scott Weekes, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Redstar Gold Corp.
Tim Mikula
Investor Relations
604-488-0051
604-488-0053 (FAX)
tmikula@amemining.com
www.redstargold.com
