Sep. 9, 2010 (Filing Services Canada) -- Coltstar Ventures Inc. (CTR - TSX Venture), announces that its exploration permit application has been accepted covering the past-producing Carpignone Mine situated within the Colline Metallifero (Metal Bearing Hills) area of south-central Italy, near the company's wholly-owned Torniella gold permits.
Grab samples recently collected from Carpignone returned 3.91 g/t gold and 69.0 g/t silver and displayed anomalous concentrations of several epithermal gold pathfinder elements. This confirmed the belief of Coltstar's Italian exploration team that the alunitic and silicified limestone found in the footwall rocks of the former base metal mine was also mineralised, but with precious metals.
The epithermal gold potential of the region was recognized by an Anglo American / AGIP joint venture in the late 1980's, which resulted in Coltstar's acquisition of the Torniella project. While researching, Coltstar's head of its Italian exploration team discovered reports of abundant alunite, chalcedony and pyrite in the brecciated and altered calcareous foot-wall rocks at the Carpignone Mine, linking it to many of the largest epithermal/mesothermal gold deposits throughout the world.
The Colline Metallifero region is a major historic mining district. Most of the ore was sent to the very large smelter at Scarlino - 25 km from Carpignone. The Carpignone copper-zinc-lead mine saw continuous activity from the Middle Ages until the 1980's. From 1952 to 1979, 70,000 tonnes of zinc, 16,000 tonnes of lead (with silver) and 1,500 tonnes of copper were produced. At that time, the deposit reported a remaining historical (non NI 43-101 compliant) resource of approximately 1 million tonnes grading 0.4% Cu, 6.4% Zn and 1.3% Pb. The mineralized zone is open to depth and along strike.
The two major mineralized zones are from 5 to 10 kilometers-long, up to 30 meters thick and enveloped by thick brecciated and altered zones. Large lenses of replacement mineralization branch out into the evaporitic limestone of the Triassic Calcare Cavernosa formation. Coltstar plans to carry out a program of data compilation, geochemistry, geophysics and geological mapping prior to selecting drill targets.
David Dupre, director and Chief Geologist stated, "the Carpignone permit area has gold potential that has never been investigated but our recent geochemical work has shown that it is significant. In addition there is the potential for significant copper, lead and zinc mineralization along strike and down-dip from the previously mined areas. Coltstar's regional work has demonstrated the forgotten and untested potential of this once-important mining district. The company will continue to exploit its first-mover position in the mineral-rich Colline Metallifero (Metal Bearing Hills) belt. It should be noted that our geological consultant in Italy, dott. Giuseppe Pipino, first brought this opportunity to Coltstar's attention and we are grateful for his continuing efforts on behalf of the Company."
Damien Reynolds, Chairman, President and CEO noted, "I have had the pleasure of developing many European mining projects, among them the Curraghinalt gold deposit in Northern Ireland, now the flagship project for Dalradian Resources Inc. I have high hopes that Giuseppe Pipino and David DuPre have found another forgotten mineral project with great potential. We look forward to results of on-going gold exploration and data compilation from both Torniella and Carpignone."
About Coltstar
Coltstar Ventures Inc. is a mineral exploration company that is currently exploring for precious metals and iron in Europe and Canada.
Mr. David DuPre, a director of Coltstar, is a Qualified Person under the guidelines of National Instrument 43-101 and has reviewed and approved the geological information contained in this news release.
On behalf of the Board of Directors
"Damien Reynolds"
Chairman, President and CEO of Coltstar Ventures Inc.
For further information please contact:
Garry Stock
Telephone: (604) 683-8236
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Coltstar Ventures Inc.
Suite 1680, 200 Burrard Street
Vancouver, BC
Canada V6C 3L6
Source: Coltstar Ventures Inc. (TSXV - CTR)
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