TriStar Gold Inc. (the “Company” or “TriStar”)
(TSX.V:TSG) is pleased to provide an update on several new
initiatives underway or recently completed at the 100% owned
Castelo de Sonhos gold project located in Pará State, Brazil.
Highlights
- Field mapping and surface reconnaissance in Esperança East has
confirmed gold in panned concentrates from outcrops, leading to the
prioritization of new drilling targets in areas where resource have
not previously been estimated.
- The project site is now connected to the national electrical
grid.
- Advanced state-of-the-art metal detection is being tested for
rapidly screening samples for gold content; if successful, this
technology could allow more rapid identification of drill targets
this year, and, in the future, considerably improve grade control
and material sorting.
Nick Appleyard, TriStar’s President and CEO.
“This is the year when much of the project’s upside is going to
come to the forefront: the resource, our proximity to good
infrastructure, our strong understanding of the geology, and the
deposit’s predominantly free gold and sulphide-free, clean and
simple metallurgical characteristics.”
Field mapping and surface reconnaissance
in Esperança East
To prioritize drilling targets at Esperança
East, TriStar has completed a field mapping and surface
reconnaissance program and conducted a series of tests of rapid
manual gravity concentration (“panning”) to establish the linkage
between assay gold grades and gold in pan
concentrates.
- Field mapping has produced a better understanding of the
details of bedding orientations and supplied dozens of new
measurements of local directions of continuity.
- Pan concentrates are valuable in identifying mineralization in
outcrops, and for rapidly determining whether to extend drilling in
reverse circulation holes (holes are deepened beyond the initial
target depth when gold can be identified in pan concentrates from
the last few sample intervals).
Esperança East lies on the fault block that
separates Esperança South from Esperança Center. Soil sampling,
geophysics and structural geology all point to the likelihood that
the conglomerate band in Esperança East is the “bridge” of gold
mineralization that connects the strong mineralization at the north
end of Esperança South to the mineralization at the south end of
Esperança Center (see Figure 1).
Connection to the national electrical
grid
The Castelo de Sonhos project is very close to
the major highway that also serves as a corridor for electrical
power. TriStar, in cooperation with local farmers, has participated
in the Brazilian federal government’s rural electrification
program. This month, the Castelo de Sonhos project site was
connected to the national grid, and no longer needs to rely on
diesel generators.
Advanced high-precision metal detection
technology
- TriStar is undertaking a proof-of-concept study that aims to
establish whether high precision metal detectors are able to screen
waste rock from rock with gold mineralization.
In February 2018, TriStar met with Fortress
Technology, a Canadian company with production facilities in
Brazil, that specializes in high precision metal detection for the
food products industry. With Fortress’ detectors able to measure
metallic constituents at the parts-per-billion level, their
industrial detectors clearly have the precision to detect gold at
the parts-per-million levels often encountered in modern gold
deposits.
In March, TriStar delivered to Fortress’ offices
in São Paulo, Brazil, a suite of rock samples and calibration
samples that will serve as the basis for a proof-of-concept study
that aims to establish whether high precision metal detectors are
able to screen waste rock from rock with gold mineralization.
Metal detection is possible in this type of
paleoplacer deposit, and not so much in other gold deposits as the
vast majority of the rock is non-metallic quartz; there are no
sulfides like pyrite that would mask and complicate the exceptional
electrical properties of gold.
TriStar is optimistic that this, or similar,
technology might be an innovation that allows more rapid
identification of drill targets this year, and, in the future,
better grade control and efficient material sorting.
Qualified Person
Mo Srivastava (P.Geo.) VP of TriStar is the
Qualified Person for the technical information presented in this
press release and has approved its publication.
About TriStar:
TriStar Gold is an exploration and development
company focused on precious metals properties in the Americas that
have potential to become significant producing mines. The Company’s
current flagship property is Castelo de Sonhos in Pará State,
Brazil. The Company’s shares are listed on the TSX Venture Exchange
under the symbol TSG. Further information is available at
www.tristargold.com.
For further information, please
contact:
TriStar Gold Inc. Nick Appleyard President and CEO 480-794-1244
info@tristargold.com
Neither the 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. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein.
Forward-Looking Statements
Certain statements contained in this press
release may constitute forward-looking statements under Canadian
securities legislation which are not historical facts and are made
pursuant to the "safe harbour" provisions under the United States
Private Securities Litigation Reform Act of 1995. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as “expects” or “it is expected”,
or variations of such words and phrases or statements that certain
actions, events or results “will” occur. Forward looking statements
in this press release include, the scope and success of the planned
exploration program at the Castelo de Sonhos project and the
Company's opinion that it has clear title to the Castelo de Sonhos
property Such forward-looking statements are based upon the
Company's reasonable expectations and business plan at the date
hereof, which are subject to change depending on economic,
political and competitive circumstances and contingencies. Readers
are cautioned that such forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause a
change in such assumptions and the actual outcomes and estimates to
be materially different from those estimated or anticipated future
results, achievements or position expressed or implied by those
forward-looking statements. Risks, uncertainties and other factors
that could cause the Company's plans to change include changes in
demand for and price of gold and other commodities (such as fuel
and electricity) and currencies; changes or disruptions in the
securities markets; legislative, political or economic developments
in Brazil; the need to obtain permits and comply with laws and
regulations and other regulatory requirements; the possibility that
actual results of work may differ from projections/expectations or
may not realize the perceived potential of the Company’s projects;
risks of accidents, equipment breakdowns and labour disputes or
other unanticipated difficulties or interruptions; the possibility
of cost overruns or unanticipated expenses in development programs;
operating or technical difficulties in connection with exploration,
mining or development activities; the speculative nature of gold
exploration and development, including the risks of diminishing
quantities of grades of reserves and resources; and the risks
involved in the exploration, development and mining business.
Although management of the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements or
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws.
Photos accompanying this announcement are available at the
following addresses:
http://resource.globenewswire.com/Resource/Download/a75ef424-f48c-4e09-98b0-ee05e2472114
http://resource.globenewswire.com/Resource/Download/25abef53-485d-4892-9d8d-3c6913b876d6
http://resource.globenewswire.com/Resource/Download/c7f882bc-2a70-4032-a117-ac265d4cd9bd
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