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Canstar Re-initiates District-Scale Precious & Critical Metals Exploration; Announces 11.8 g/t Gold Grab Sample Result; New Geological Model for the Buchans-Mary March VMS Project; and Expansion of Newfoundland Claims Holdings
Toronto, Ontario--(Newsfile Corp. - July 8, 2024) - CANSTAR RESOURCES INC. (TSXV: ROX) (OTC Pink...
About this update from Canstar Resources Inc.
[{"type":"text","content":"\nCanstar Re-initiates District-Scale Precious & Critical Metals Exploration; Announces 11.8 g/t Gold Grab Sample Result; New Geological Model for the Buchans-Mary March VMS Project; and Expansion of Newfoundland Claims HoldingsToronto, Ontario--(Newsfile Corp. - July 8, 2024) - CANSTAR RESOURCES INC. (TSXV: ROX) (OTC Pink: CSRNF) (\"Canstar\" or the \"Company\"). In January 2024 the Company announced a change of management concurrent with an oversubscribed private placement led by J. Paul Austin III. Following a detailed assessment of the Company's assets and strategic positioning, Canstar's new President & Chief Executive Officer, Juan Carlos Giron Jr., today announces a new geological model, priority exploration targets, and the reinitiation of district-scale exploration at Canstar's flagship Golden Baie and Buchans-Mary March Projects in south-central and central Newfoundland, respectively. Exploration Highlights Golden BaieSpring 2024 prospecting of the under-explored Woodcutter Prospect along the Little River Trend collected over 300 combined soil and grab rock samples; over 60% of the rock samples demonstrated anomalous gold results above 100 ppb gold; several float grab samples returned significant assay results including 11.8 g/t, 3.1 g/t, and 1.8 g/t gold.A re-evaluation of data previously acquired by Canstar, and historical data, has identified 13 priority exploration targets, including Facheux Bay with up to 18.4 g/t gold in bedrock, Le Pouvoir with up to 74.4% antimony and 24.1 g/t gold in a bedrock vein, and Blowout East with a high-grade large boulder sample grading 197 g/t gold over 0.5m.Commenced new 3D geological modelling of the Kendell Prospect, where notable drilling intercepts from Canstar's 2022 drilling program included 9.6 g/t gold over 7.8m, 20.6 g/t gold over 3.5m, and 58.2 g/t gold over 1.1m.Staked an additional 1,100 hectares of prospective mineral claims surrounding the Le Pouvoir antimony/gold prospect expanding coverage within the highly anomalous Little River Trend for a total current area of 548.75 km2 at Golden Baie.BuchansCompleted new 3D geological model indicating significant potential that the deposit-hosting Buchans River Formation may underlie Canstar's Buchans mineral claims.Historical mining by ASARCO of 5 deposits hosted by the Buchans River Formation yielded 16.2 million tonnes wi...