TriStar Gold Inc. (the “Company” or “TriStar”)
(TSX.V:TSG) is pleased to announce that the 2018 exploration
campaign at its Castelo de Sonhos gold project (“CDS”) has
identified two new gold-bearing targets.
Mr. Nick Appleyard, President and CEO,
commented: “Our goal with the current exploration program is to
continue to expand the mineral resource at Castelo de Sonhos, so
we’re very pleased to have confirmation of gold mineralization in
outcrops that add more than three kilometers to the known strike
length. It is great to see that we’ve been able to leverage the
strong geological understanding developed by our Brazilian team and
our consultants. At the same time that we’re identifying new
targets, we’re also improving our resources and confidence in areas
that have previously been drilled, filling in gaps and extensions.
With the early successes in this year’s program, we’re looking
forward to updating the resources and completing a preliminary
economic assessment.”
Soil sampling
Dr. Rael Lipson of TriStar’s technical advisory
group recommended extending the existing soil sampling grid into
new areas since, elsewhere on the property, anomalous gold in
surface samples has consistently been a reliable indicator of gold
mineralization at depth. The sampling, descriptive and analytical
work to follow up on this recommendation is now complete, and
reveals two new targets (see Figure 1) that now need to be drill
tested.
2018 New Discovery Zone (“NDZ”)
The NDZ conglomerate outcrops on the western
edge of the property and has a mapped strike length of
approximately 2 km. Ten soil sampling lines at 200m spacing
have now confirmed that the NDZ is highly anomalous in gold, with
all lines showing a distinct continuous zone of mineralization
coincident with the conglomerate.
2018 Upper Conglomerate Zone (“UCZ”)
The UCZ conglomerate was initially recognized by
Dr. Rael Lipson in 2016 as an additional band of conglomerate that
sits in the arenite above the main conglomeratic band at CDS.
Four sampling lines were strategically located to cross the UCZ;
assays from soil samples on these four lines encountered anomalous
gold grades on every line. The size of this secondary band of
mineralized conglomerate has not yet been fully established, but
the mapping and sampling work to date confirms more than a
kilometer of strike length for this previously unrecognized and
undrilled target.
Figure 1. The two new surface gold anomalies
identified by soil sampling and new drill holes.
http://tristargold.com/images/news/PR_May2018_consolidated_figure.png
Drilling
As of May 4, a total of 26 reverse circulation
(“RC”) for 3,020m and 8 core holes for 960m have been completed
(see Figure 1). The RC drilling program includes infill
drilling in Esperança Center (now complete) and Esperança South
(yet to be done), and broad definition drilling in Esperança East
(underway). The RC rig will finish the first round of Esperança
East holes in May and will then move to Esperança South to follow
up on high-grade intervals previously encountered there and still
open in several directions. Following analysis of the results,
TriStar plans to continue RC drilling, to maximize the data
available for expanding mineral resources in the next resource
update. The man-portable core rig targeted resource extensions on
steep slopes; that program is now complete, and the core rig has
been demobilised.
Following completion of RC drilling, TriStar
will log the RC holes using the same petrophysical probes and
optical televiewer that provided valuable data in the 2017 drilling
program and that improved understanding of local continuity
directions for resource estimation.
For the nine holes for which assays are now
available (all RC holes in Esperança Center and East), all show one
or more significant intervals. Due to the large number of drill
holes this year, both completed and planned, and the expectation
that the rate of drilling will increase, TriStar will use its
website to make available detailed summaries of drill hole
locations and significant intervals; a file has been added to the
CDS project page of the company website (www.tristargold.com) with
a complete list of significant intervals for the project.
This information will be updated regularly, allowing investors
direct access to complete and up-to-date information whenever they
choose.
Full evaluation of the drill holes will be
possible when drilling has been completed in each zone and when the
OTV and petrophysical logging are available. With the partial
information currently available, the assay values are consistent
with expectations established by previous drilling, both in terms
of grade and thickness.
Assay methods, quality assurance and
quality control (QA/QC)
All soil samples have been analyzed by fire
assay of a 50g aliquot of material taken from the “A” horizon. In
2018, all drill hole samples are analyzed using a Leachwell
analysis of 1kg of material taken from either ½ core in diamond
drill holes or ¼ of the chips in reverse circulation holes. Samples
are transported by truck from site to the ALS lab in Goiania,
Brazil, where they are dried, crushed, pulverized and packaged for
shipment to the ALS analytical lab in Lima, Peru.
The ALS preparation and analytical labs are
accredited to ISO 17025:2005 UKAS ref 4028, and have internal QA/QC
programs for monitoring accuracy and precision. In addition to
this, TriStar uses standards, blanks and field duplicates in an
external QA/QC program to provide independent monitoring of
laboratory analyses.
Qualified Person
R. Mohan Srivastava (P.Geo.), Vice President of
TriStar, is the Qualified Person who has reviewed the technical
information contained in this news release and has approved its
disclosure.
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.
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