High Grade Gold Mineralization encountered in Graphitic Quartzite Breccia and Lower Gneiss Zone
VANCOUVER, Nov. 10 /CNW/ -
First Star Resources Inc. (TSX-V: FS) (“First Star“) is pleased to announce the results of the company's 2010 drilling program on the LMS Gold Project, its flagship property in Alaska under Joint Venture with
Corvus Gold Inc (A spin off from
International Tower Hill). (TSX: KOR). In September, First Star drilled three NC core holes totalling 3,618 feet (1,103 meters) within the Camp Zone area of LMS. The goals of this drilling program were to 1) expand the gold-bearing graphitic quartzite breccia, and 2) to identify the extent of high grade gold vein zones in the lower gneiss zone. All three holes were designed to intersect the gold-bearing graphitic quartzite breccia and to drill test a NE-striking structural corridor within the lower gneiss zone that is known to contain high grade gold mineralization. First Star believes this corridor to be an important structural control for gold mineralization.
Highlights of this year's drilling program for the gold-bearing graphitic quartzite breccia include 19.05 meters of 2.51 g/t gold and 9.84 g/t silver, including 0.76 meters of 11.2 g/t gold and 5.85 g/t silver in drill hole LM-10-39; and 9.14 meters of 1.65 g/t gold and 15.38 g/t silver, and 2.9 meters of 12.47 g/t gold and 6.02 g/t silver, including 1.07 meters of 28.7 g/t gold and 9.89 g/t silver in drill hole LM-10-38.
Drill results for the NE-striking structural corridor include 0.76 meters of 43.9 g/t gold and 5.34 g/t silver, and 1.68 meters of 6.12 g/t gold and 0.76 meters of 95.20 g/t silver in drill hole LM-10-39; and 1.52 meters of 4.36 g/t gold and 8.26 g/t silver in drill hole LM-10-38.
VP of Exploration Dr. Karsten Eden stated. “These results are very encouraging. The thickness of the gold bearing graphitic quartzite breccia appears to be greater than previously thought. Not only did we encounter significant gold and silver grades within the graphitic quartzite breccia, but also directly above and below the graphitic quartzite breccia in schist. We are also very pleased with the high grade gold and silver drill intercepts through the NE-striking structural corridor as they support our exploration model of “feeder zones“. An aggressive drilling program for the LMS camp zone is warranted.
Significant results of drill holes LM-10-37, LM-10-38 and LM-10-39 are presented in the tables below:
Table 1: Significant drilling results of drill hole LM-10-37, Camp Zone, LMS Gold Project, Alaska
Hole ID From To Interval Interval Gold Silver
(ft) (ft) (ft) (m) (g/t) (g/t)
LM-10-37 475 485 10 3.05 9.86
Including 475 480 5 1.52 18.00
LM-10-37 520 589 69 21.03 0.82 6.18
Including 531.5 533.6 2.1 0.64 1.92 12.45
Including 546.4 548.3 1.9 0.58 6.14 6.03
Including 548.3 552 3.7 1.13 10.95
Including 552 555.5 3.5 1.07 11.35
Including 564 568.2 4.2 1.28 1.78 6.84
Including 568.2 573 4.8 1.46 11.30
Including 573 576 3 0.91 18.60
Including 579.5 585 5.5 1.68 2.16 6.31
LM-10-37 589 616 27 8.23 3.81
Including 609 611.5 2.5 0.76 18.75
LM-10-37 616 660 44 13.41 0.37 8.33
Including 640 643.5 3.5 1.07 52.30
LM-10-37 920 935 15 4.57 1.89
Table 2: Significant drilling results of drill hole LM-10-38, Camp Zone, LMS Gold Project, Alaska
Hole ID From To Interval Interval Gold Silver
(ft) (ft) (ft) (m) (g/t) (g/t)
LM-10-38 514.5 521.5 7 2.13 1.67
LM-10-38 530 539 9 2.74 8.17 4.63
Including 535 539 4 1.22 16.90 7.67
LM-10-38 550 566 16 4.88 2.98
Including 564 566 2 0.61 10.90
LM-10-38 566 596 30 9.14 1.65 15.38
Including 566 567.3 1.3 0.40 1.32 21.70
Including 567.3 569 1.7 0.52 1.29 21.30
Including 569 572.8 3.8 1.16 0.61 47.40
Including 572.8 575 2.2 0.67 0.71 16.50
Including 584 587 3 0.91 0.70 12.15
Including 591 593.5 2.5 0.76 11.60 7.21
LM-10-38 612 616.5 4.5 1.37 1.44 3.07
LM-10-38 637 652.5 15.5 4.72 2.80
LM-10-38 652.5 662 9.5 2.90 12.47 6.02
Including 565.5 660 3.5 1.07 28.70 9.89
LM-10-38 676 884 8 2.44 3.90
LM-10-38 714 720.3 6.3 1.92 1.95
LM-10-38 953 956 3 0.91 1.23 1.63
LM-10-38 1064 1069 5 1.52 4.36 8.26
Including 1066.5 1069 2.5 0.76 7.80 3.75
LM-10-38 1275.5 1284.3 7.8 2.38 1.05 6.34
Including 1275.5 1277.5 2 0.61 1.08 21.10
Including 1282 1284.3 2.3 0.70 2.06
LM-10-38 1396.5 1399 2.5 0.76 1.75 8.14
LM-10-38 1479 1481 2 0.61 4.02
Table 3: Significant drilling results of drill hole LM-10-39, Camp Zone, LMS Gold Project, Alaska
Hole ID From To Interval Interval Gold Silver
(ft) (ft) (ft) (m) (g/t) (g/t)
LM-10-39 727 789.5 62.5 19.05 2.51 9.84
Including 728.5 731 2.5 0.76 11.20 5.25
Including 733.5 735 1.5 0.46 2.22 25.30
Including 747.5 749.5 2 0.61 6.96 27.10
Including 749.5 752 2.5 0.76 5.19 22.20
Including 764.5 766.5 2 0.61 0.93 37.70
Including 766.5 768.5 2 0.61 11.10 16.65
Including 768.5 770.5 2 0.61 10.10 17.95
Including 777 779 2 0.61 6.14 20.10
LM-10-39 789.5 806.5 17 5.18 4.54
LM-10-39 876.5 879 2.5 0.76 1.31 34.90
LM-10-39 879 881.5 2.5 0.76 1.99 95.20
LM-10-39 890 892.5 2.5 0.76 43.90 5.34
LM-10-39 896 901.5 5.5 1.68 6.12 1.56
The LMS claim block is located in the Goodpaster Mining District of Alaska and consists of 92 State of Alaska mining claims covering 61 square kilometres. Gold mineralization is believed to be intrusive related, similar to the Pogo Gold Mine (+ 5 million ounces) operated by Sumitomo Metal Mining Pogo LLC, located 40 kilometers to the northeast.
The work program at LMS was designed and supervised by Dr. Karsten Eden, the Vice President Exploration of First Star Resources. All exploration work was conducted by First Star's exploration contractor Pacific Rim Geological Consulting of Fairbanks, Alaska. Pacific Rim personnel at the project photographed the core from each individual drill hole prior to preparing the split core. Pacific Rim personnel at the project logged and tracked all samples prior to sealing and shipping. All sample shipments were sealed and shipped to ALS Chemex in Fairbanks, Alaska, for preparation and then on to ALS Chemex in Reno, Nevada, or Vancouver, B.C., for assay. ALS Chemex's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999. First Star also had its own quality control / quality assurance programs in place.
The technical information in this news release was reviewed by Dr. Karsten Eden, First Star's Vice President Exploration, and a Qualified Person as defined in NI 43-101.
About First Star Resources Inc.
First Star Resources is a junior exploration company focused on gold exploration in the world famous Tintina Gold Belt in Alaska. The Tintina Gold Belt hosts major gold deposits and several mines, such as; Fort Knox Mine-3.7 million oz. gold, the Donlin Creek deposit 33.5 million oz. gold , the Livengood deposit, 8.1 million oz gold, White Gold deposit 1.4 million oz gold (Recently taken over by
Kinross Gold Corp), and the Pogo Mine 5.6 million oz gold, which is adjacent to one of First Stars Resources' key targets for this year, the WP property. The LMS and West Pogo properties have well defined Gold Targets which First Star Resources is drilling.
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