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Canstar Exercises Option to Acquire Golden Baie Project Mineral Claims in Newfoundland
(TheNewswire) Known High Grade Orogenic Gold Mineralization a nd Unexplored Targets...
About this update from Canstar Resources Inc.
[{"type":"text","content":"Canstar Exercises Option to Acquire Golden Baie Project Mineral Claims in Newfoundland\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Known High Grade Orogenic Gold Mineralization\n \n \n a\n \n \n nd Unexplored\nTargets\n \n \n \n \n Toronto, Ontario\n \n \n –\n \n \n TheNewswire -\n \n \n November 9,\n2023 – CANSTAR RESOURCES INC. (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\n \n \n ”)\n \n \n is pleased to announce that it has\nthe fulfilled all of the requirements of an option agreement dated\nSeptember 25, 2020 (see Aug. 26, 2020,\n \n \n \n \n news\nrelease\n \n \n \n \n ), and that it has exercised\nthe option to acquire 100% ownership of 47 licences totaling 2,446\nclaims, covering 61,150 hectares (612 km\n \n \n 2\n \n \n ) in\nsouth-central Newfoundland (the “Golden Baie Project” or the\n“Project”).  The Golden Baie Project remains subject to a 2.0%\nnet smelter return royalty.\n \n \n \n \n Highlights of the Golden Baie Project Mineral Claims\nAcquired\n \n \n \n \n \n \n Multiple gold anomalies hosted in soils, tills, and\nrock samples that span a strike length of about 100 km along a major\ntectonic boundary.\n \n \n \n \n \n \n Underexplored – Only ~25,400 metres (“m”) of\nshallow drilling to date (historic and recent). Orogenic gold belts\nwith similar geology, such as the Victoria Goldfields and Mother Lode\nDistrict, span hundreds of kilometres and host clusters of\nmulti-million ounce gold deposits.\n \n \n \n \n \n \n The Kendell prospect, the first high grade orogenic\ngold discovery on the Golden Baie project, has seen 7,953 m of\ndrilling to date with results up to 20.6 grams per tonne (“g/t”)\ngold over 3.5 m\n \n \n including, 58.2 g/t gold over\n1.1 m (hole GB-22-\n \n \n 94\n \n \n \n – see news release dated\n \n \n \n \n \n July 5,\n2022\n \n \n \n \n ), and 9.6 g/t gold over 7.8 m\n(hole GB-21-01 – see news release dated\n \n \n \n \n Aug. 19,\n2021\n \n \n \n \n ). Gold mineralization has been\ndefined near-surface over a length of approximately 200 m and remains\nopen along strike and downdip.\n \n \n \n \n \n \n In the ‘Little River Trend’ area, located close to...