News from Marketwire
Redstar Starts Drilling on Red Lake Gold Project
08:01 EST Thursday, November 12, 2009
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2009) - Redstar Gold Corp. ("Redstar" or "the Company") (TSX VENTURE:RGC) is pleased to announce the start of drilling on its 100% owned Newman Todd project in Red Lake, Ontario. Redstar is the co-operator of this project with the work funded by Central Resources Corp. (Central) (TSX.V:CBC). Central has an option to earn up to a 60% interest in the property under terms announced Oct. 05, 2009. The focus of drilling will be to further test the large geological structure that has returned high-grade gold in several intersections.
Scott Weekes, Redstar President, stated: "We are very excited to get back drilling at Newman Todd in the Red Lake Gold Camp. To date we have completed three small drill programs on the project and all have returned high-grade gold intercepts. Red Lake is one of the key camps for high-grade gold discoveries in North America and has generated intense interest of the investing community that follows gold mining and exploration. Our past exploration has outlined a large geological structure with steeply dipping high-grade gold veins. The Newman Todd project has many of the geological characteristics of several of the important gold deposits in this camp. Of particular note is that our past drilling intersected high-grade gold values at a shallow depth (less than 250 metres) and yet the high-grade zones in many of the deposits in the Red Lake camp start at much greater depths. Our focus in this drill phase is to continue to test the known near surface high grade gold mineralization and to test (this over two kilometre structure) at depth."
Previous work by Redstar on the Newman Todd property has outlined gold mineralization within a silicified breccia zone that has been traced for at least two kilometres. Drilling done by Redstar intersected values up to 61.02 g/t gold over 1.0 metre within a wider zone of 60.0 metres of 1.72 g/t gold in previous drill programs. The property has a very similar geologic setting to many of the major mines in the Red Lake camp such as Goldcorp's Campbell and Red Lake mines. Similarities include; proximity to a major structure, secondary northwest-southeast trending structures, proximity to a folded ultramafic body and association with a large Fe-carbonate alteration zone.
Bob Singh, Exploration Manager - Canada for Redstar Gold Corp., and a Qualified Person as defined by National Instrument 43-101 has reviewed this news release.
Drilling is currently underway on two of Redstar's projects; the Newman Todd project in Red Lake, Ontario and the Richmond Summit project on the Carlin Trend in Nevada. In addition to these two projects Redstar has ten other gold projects in Nevada. Redstar intends to seek quality partners to advance these projects, giving shareholders exposure to numerous chances for discovery at little cost.
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
tmikula@amemining.com
www.redstargold.com
