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BIGiron Project in Northern Canada - Update from Sampling Program
BIGiron Project in Northern Canada - Update from Sampling Program
About this update from Metallis Resources Inc.
[{"type":"text","content":"\nBIGiron Project in Northern Canada - Update from Sampling Program\n\n\n Nov. 10, 2010 (Filing Services Canada) -- Coltstar Ventures Inc.  (CTR - TSX Venture), announces that a brief sampling program, completed at the same time as additional staking, has provided significant visual and analytical results.  Historical data generated by Chevron from their wholly-owned Crest Iron Project adjacent to BIGiron has also provided encouragement.  It should be noted that recent M & A activity around the Mary River Iron Project owned by Baffinland Iron Mines Corporation has shown industry and investor interest in northern Canadian iron projects.Coltstar's BIGiron project consists of 105,000 hectares staked in the Northwest Territories, covering the mapped Rapitan Group Stratigraphy, which also hosts Chevron's Crest Hematite Iron Project, reported to be the second-largest iron deposit in the world.  Five drill holes completed by Chevron in 1963 are collared within 100 metres of the boundary between the Coltstar claims and the Chevron property. All of these holes intersected hematite iron formation - the southernmost returned 27.43 metres of 43.01% soluble iron, while a nearby channel sample returned 25.3 metres of 41.97% soluble iron.Aurora Geosciences collected 32 silt samples on Coltstar's claims and carried out reconnaissance geological mapping on the BIGiron claims in September 2010. During this program, Gary Vivian, M.Sc., P.Geol. and President of Aurora Geosciences recognized that the stratigraphy exposed on Chevron's Crest property continues southward onto the Coltstar claims.  One stream valley on the Coltstar claims has exposed hematite iron formation stratigraphy similar to that found on the Crest property.  Helicopter-based observations together with ground investigations indicate that prospective Rapitan Group stratigraphy underlies a 25 square-kilometre area on Coltstar's northernmost claims.A very extensive reconnaissance silt sampling carried out by the Geological Survey of Canada in 2008/2009 delineated three areas which have anomalous (greater than 3%) iron-in-silt values. These anomalies were confirmed by the Aurora sampling.  The first anomalous zone occurs immediately adjacent to Chevron's Crest Property.  Analytical results in this area are...