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Coltstar Identifies Two 10-Kilometre Long Magnetic Anomalies on Mackenzie Mountains Property Immediately South of Chevron's Snake River Iron Deposit
Coltstar Identifies Two 10-Kilometre Long Magnetic Anomalies on Mackenzie Mountains Property Imm...
About this update from Metallis Resources Inc.
[{"type":"text","content":"\nColtstar Identifies Two 10-Kilometre Long Magnetic Anomalies on Mackenzie Mountains Property Immediately South of Chevron's Snake River Iron Deposit\n\nColtstar Identifies Two 10-Kilometre Long Magnetic Anomalies on Mackenzie Mountains Property Immediately South of Chevron's Snake River Iron Deposit\nVancouver, British Columbia CANADA, September 29, 2011 /FSC/ - Coltstar Ventures Inc.  (CTR - TSX Venture), (\"Coltstar\" or the \"Company\") is pleased to provide an update on its Mackenzie Mountains exploration program.  To date, the Company has completed an airborne magnetic survey and a field program over the entire property.  Collectively, these exploration activities delineated numerous magnetic anomalies and identified iron formation at the northwestern and southeastern extremities of the property.  \nThe Mackenzie Mountains Project\nThe Mackenzie Mountains Project is contiguous and adjacent to the Snake River (Crest) iron deposit, the 2nd largest undeveloped iron deposit in the world.  The Crest iron deposit has been reported to host a historical resource estimate of 5.6 billion tonnes at 47.2% Fe and a reported \"regional resource estimate\" of 18.6 billion tonnes (Yukon MIN FILE # 106F 008).  Coltstar notes that a qualified person has not done sufficient work to classify Chevron's historical estimate at Crest as current mineral resources or mineral reserves and Coltstar is not treating this historical estimate as current mineral resources or mineral reserves.  \nLocated 190 kilometres from the Town of Norman Wells, the Mackenzie Mountains Project consists of 114 mineral claims and one prospecting permits covering 1126 km2.  The property covers a 170-kilometre belt underlain by both the Rapitan and Coates Lake Groups.  \nAirborne Magnetic Survey\nDuring the month of July, Fugro Airborne Surveys flew a helicopter-borne magnetic survey over the Mackenzie Mountains property.  The Fugro survey coverage consisted of approximately 4400 line kilometres, at 300-metre line spacing.  The purpose of the survey was to detect zones of mineralization and acquire information that could be used to map the geology and structure of the survey area.\nThe aeromagnetic survey was a complete success.  Numerous long magnetic a...