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Canstar Acquires the Hermitage Property, Expanding its Newfoundland Gold Exploration Project Claims to 774 km2
(TheNewswire) Toronto, Ontario - TheNewswire – January 24, 202...
About this update from Canstar Resources Inc.
[{"type":"text","content":"Canstar Acquires the Hermitage Property, Expanding its Newfoundland Gold Exploration Project Claims to 774 km2\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Toronto, Ontario -\n \n \n TheNewswire\n \n \n – January 24, 2022 – CANSTAR RESOURCES\nINC. (TSXV:ROX\n \n \n )\n \n \n &\n \n \n (\n \n \n OTC:CSRNF)\n \n \n (“\n \n \n Canstar” or the “Company”) is pleased to announce that\nit has signed a binding property purchase agreement with Altius\nResources Inc. (“Altius”), a wholly owned subsidiary of Altius\nMinerals Corporation (TSX: ALS), to acquire a 100% interest in the\nHermitage Property in southern Newfoundland (the “Acquisition”).\n The Hermitage Property is comprised of three (3) map-staked licenses\ncontaining 607 claims covering 15,175 hectares (151.75 km\n \n \n 2\n \n \n ) (the\n“Hermitage Property Claims”).  The Hermitage Property Claims are\ncontiguous with the Company’s Golden Baie project and bring the\ntotal claims in the area to 77,350 hectares (774 km\n \n \n 2\n \n \n ) (Figures 1\n& 2).\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n Canstar optioned the Golden Baie project claims due to\ntheir proximity to the Day Cove Thrust (“DCT”), the tectonic\nboundary between the Gander and Dunnage (Exploits subzone)\ntectonostratigraphic zones.  The Baie d’Espoir volcanic and\nmetasedimentary rocks to the west of the DCT host extensive gold\nanomalies at surface that strike parallel to the DCT.  At the\nsouthwest end of the Golden Baie claims, the Hermitage Flexure marks\nthe tectonic boundary between the Gander and Exploits zones and it is\nbelieved that these claims may also be prospective for orogenic\n \n \n style gold mineralization.  There has been no\nknown gold exploration on the Hermitage Property Claims, but there has\nbeen some historical uranium exploration work in the area.\n \n \n \n \n Matthieu Lapointe, VP Exploration of Canstar,\ncommented: “Our Golden Baie project has tremendous potential for\norogenic gold discoveries, based on the extent of anomalous gold in\nrock samples collected and our initial drill program.  Our focus has\nbeen primarily on the Kendell area in the centre of the claim block,\nbut this year we will al...