Toronto, Ontario – TheNewswire – September 21, 2021 – CANSTAR RESOURCES INC. (TSXV: ROX) & (OTC: CSRNF) (“Canstar âor theâ Companyâ) is pleased to announce that it has hired Matthieu (Matt) Lapointe, P.Geo, as Vice President, Exploration, effective immediately.
Mr. Lapointe, geo. has over 15 years of exploration for new precious metals and contaminated sites across Canada and abroad. Most recently, Mr. Lapointe was Vice President of Exploration at Labrador Gold Corp., where he led the team that discovered the Big Vein on the Kingsway property in Newfoundland. Mr. Lapointe’s previous experience includes the positions of Chief Geologist at TMAC Resources (âTMACâ), Senior Project Geologist at IAMGOLD and Geologist at Sabina Gold & Silver. At TMAC, Mr. Lapointe developed an exploration strategy and managed regional exploration of the 1,600 km2 Hope Bay project in Nunavut, including targeting brownfields at the active Doris gold mine and two late stage gold deposits.
Rob Bruggeman, President and CEO of Canstar, said, âI am delighted that Matt Lapointe is joining Canstar to lead our growing exploration team. Our Golden Bay project has gold showings over a considerable distance. With his extensive experience in gold exploration, Mr. Lapointe is well positioned to lead exploration efforts aimed at turning some of these gold occurrences into new discoveries.
Matt Lapointe said, âThe Golden Baie Project is a large set of promising lands that is largely under-explored for orogenic gold mineralization despite age-friendly tectonostratigraphy, regional scale structures and abundant gold occurrences. I am very happy to be a part of the Canstar team and look forward to working with the company to advance its current outlook and develop a strong pipeline of exploration targets.
Dawn Evans-Lamswood, former Vice President, Exploration, is no longer with the Company. Canstar thanks Ms. Evans-Lamswood for her contributions and wishes her well in her future endeavors.
Golden Bay exploration update
The Company is pleased to announce that the initial diamond drilling program on the Golden Baie project is now complete. A total of 62 holes were drilled over 5,734 meters. Half of the drill holes were drilled on the Kendell target and the rest were drilled on the Blow Out target and other targets on the southwest trend of Blow Out.
Initial assays from the drill program included 9.64 g / t Au over 7.75 meters in hole GB-21-01 (reported on August 19, 2021). Analyzes of the remaining holes, as well as numerous grab samples from ongoing exploration activities, are pending. The Company will announce the assay results of the drilling program in the coming months.
Canstar is also pleased to announce that an airborne LiDAR survey has been completed on the entire Golden Bay property of 62,175 hectares. LiDAR survey results will aid structural interpretation and target generation on the Golden Baie property, particularly in areas with thicker till cover.
The Company is currently reviewing preliminary drill results and LiDAR data in order to design the next phase of the Golden Bay exploration program, which is expected to include additional drilling.
Canstar wishes to acknowledge the financial support of the 2021 exploration program through the Junior Exploration Assistance Program of the Department of Natural Resources of the Government of Newfoundland and Labrador.
Bob Patey, B.Sc., P.Geo, Principal Geologist of Canstar, and a Qualified Person as defined by National Instrument 43-101 – Disclosure Standards for Mining Projects, is responsible for the scientific and technical data presented here and has reviewed and approved this version.
About Canstar Resources Inc.
Canstar is focused on the discovery and development of economical mineral deposits in Newfoundland and Labrador, Canada. Canstar has the option to acquire a 100% interest in the Golden Baie project, a large set of claims (62,175 hectares) with multiple recently discovered outcropping gold occurrences on a major structural axis in southern Newfoundland. The Company also owns the Buchans-Mary March project and other mineral exploration properties in Newfoundland. Canstar Resources is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ROX and trades on the OTCPK under the symbol CSRNF.
For more information, please contact:
Rob Bruggeman Eng., CFA
President and CEO
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.
This press release includes certain “forward-looking statements” which do not consist of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including terms indicating that the Company or management expects a condition or reported result to occur. Forward-looking statements may be identified by words such as “believes”, “anticipates”, “expects”, “believes”, “may”, “could”, “would”, “will” or “will”. Because forward-looking statements are based on assumptions and deal with future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. The risks, uncertainties and other factors involved in forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release includes, without limitation, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, mineral resource estimate, mine exploration and development plans, timing of commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from this forward-looking information include, but are not limited to, inability to identify mineral resources, inability to convert estimated mineral resources into reserves, inability complete a feasibility study that recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failure to obtain government, environmental or other approvals required for the project, political risks , the inability to meet the obligation to accommodate First Nations and other Indigenous peoples, uncertainties related to the availability and costs of funding needed in the future, stock market fluctuations, inflation, fluctuations exchange rates, fluctuations in raw material prices, delays in project development, investment costs widely varying estimates and other risks involved in the mining exploration and development industry, an inability to predict and counter the effects of COVID-19 on the Company’s business, including including, but not limited to, the effects of COVID-19 on commodity prices, capital market conditions, restriction of labor and international travel and supply chains, and the risks set out in the Company’s Public Documents filed on SEDAR. Although the Company believes that the assumptions and factors used in the preparation of forward-looking information in this press release are reasonable, one should not place undue reliance on such information, which only applies as of the date of this press release. . release, and no assurance can be given that such events will occur within the disclosed time frame or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.