CALL US

+1-480-794-1244

EMAIL US

info@tristargold.com

TSG.V

homeBanner 1

Houston, TX - TriStar Gold Inc. (the Company) is pleased to announce that a resource estimate has been generated at its Castelo de Sonhos (“CDS”) project in the Tapajós region of Pará state in Brazil. The resource  estimate  prepared  by RBM Consultoria  Mineral Ltda. of Saquarema,  Brazil (“RBM”) calculated  a contained  resource  of 182,000  indicated  and 98,000 inferred  ounces of gold in the Esperança South and Esperança Center zones as set out in the table below. 

Castelo de Sonhos Mineral Resource Statement at 0.40 g/t cut-off grade
 

 

Indicated

 

Inferred

Target K tonnes Au (g/t) Au (KOz) K tonnes Au (g/t) Au (KOz)
Esperança Sul 2,788 2.03 182 769 2.41 60

 

Esperança Centro

     

661

1.81

38

Total 2,788 2.03 182 1,430 2.13 98

 

Castelo de Sonhos Resources at Various Gold cut-off grades
 

 

Indicated

 

Inferred

Cut-off grade (Au g/t) K tonnes Au (g/t) Au (KOz) K tonnes Au (g/t) Au (KOz)
0.3 2,895 1.96 182.7 1,515 2.03 99.1
0.6 2,527 2.18 177.3 1,245 2.38 95.2
0.8 2,231 2.38 170.6 1,112 2.58 92.3

Mark E. Jones III, President and CEO of TriStar stated “We are pleased that the results of the recently completed drilling program has enabled us to generate an initial resource estimate at CDS and we thank our shareholders for their participation in a recent financing which has funded this activity.  We are very encouraged by this estimate which covers only a small portion of the anomalous area at CDS and includes results only to an average depth of 70 meters.”

The  Company  recently  completed  a  total  of  4,110  meters  of  infill  drilling  as  part  of  a  campaign designed to demonstrate sufficient economic potential for converting one of its exploration licenses to an exploitation license.   Due to the success of the drill program, the Company has filed a positive report with the Departamento Nacional da Produção Mineral ("DNPM") in Brazil on 31/07/2014.

The area covering the resource estimate represents only approximately 4.0 linear kilometers of the 16 linear kilometers of the gold anomaly area which is currently under exploration.

map gold

Figure 1: Map showing the gold anomaly in soil, overlaid by the resources block models

The Company is in the process of designing a follow up program to further drill test the extensive anomaly, stepping out the mineralization both down-dip and along strike.

The resource is hosted in conglomerate horizons along the shallow dipping (30°) east flank of a 10 km basin with a maximum width of 7km.   The same conglomerate horizon varying in width from 100 to 200m surfaces along the East, North and West flanks of this basin and are in all instances associated with strong gold in soil anomalies along the 16km strike length.

As previously announced,  preliminary metallurgical  testing indicates promising high recovery rates. The testing shows gravity recoveries of 73% and 88.6% for size fractions of respectively 80% passing 150 microns (100 mesh) and 80% passing 53 microns (270 mesh). Through cyanidation of the gravity rejects,  the  recovery  was  increased  to  95.9%  and  99.6%  respectively  for  the  two  size  fractions. Another test was performed on column cyanide leaching on 2 mm crushed samples with an average recovery of 78.7% which could indicate the possibility of recovery by heap leaching or vat leaching.

 Notes to the Mineral Resource Estimate:

  1. CIM definitions were followed for Mineral Resources.
  2. The Qualified Person for this Mineral Resource estimate is Rodrigo Mello, FAusIMM, from RBM Consultoria Mineral.
  3. Mineral Resources are estimated by conventional 3D block modelling based on geological interpretation, wireframing and ordinary kriging interpolation. 
  4. Conceptual open pit shells were defined to determine the portions of the deposit with reasonable prospect of economic extraction. The following assumptions were used:
    • Gold price of US$ 1,400 per troy Oz.
    • Selling cost of US$ 25 per troy Oz.
    • Pit slope of 55°.
    • Metallurgical gold recovery of 92.7%.
    • Mining Costs: US$ 2.00 per tonne moved.
    • Process Cost: US$ 11.94 per tonne milled.
  5. A fixed bulk density of 2.50 t/m3 was used.
  6. Resource estimate based on 16,656.50 meters of diamond drilling, distributed in 146 holes
  7. Mineral Resources base case is reported above the operational cut-off of 0.40 g/t Au.
  8. Mineral Resources are classified as Indicated if the drill density is 50 m x 50 m apart or less. Inferred Resources are the remaining blocks within wireframe, that represents roughly a drill density of 100 m x 100 m or less.
  9. Average strip ratio is estimated as 7.8 tonnes of waste per tonne of ore.

Castelo de Sonhos is a property where gold mineralization  is hosted in proterozoic conglomerates and  quartzites  similar  to  those  encountered  at  comparable  gold  deposits  such  as  Jacobina  in Northeastern Brazil and Tarkwa in Ghana (West Africa).

The Company is in the process of preparing a NI 43-101 report which will be filed as soon as it is completed. 

Mr. Rodrigo Mello, FAusIMM, a qualified person as defined in NI 43-101, has read and approved the technical portions of this release.

Quality Control

In  addition  to  the  laboratory  quality  control,  TriStar  has  added  its  own  certified  standard  check samples each 12 samples. They consist of blank standards, for checking of contamination, duplicate samples and Certified Reference Materials in two different gold grades. The results of this checking demonstrated, in RBM´s opinion, an acceptable quality on sampling preparation and analysis, without any contamination episode and with adequate precision accuracy. 

About TriStar: 

TriStar Gold is a gold exploration company focused on high-potential properties in Brazil. In addition to Castelo de Sonhos, TriStar holds another exploration project in the Tapajós district known as the Bom Jardim Property. The Company’s  shares are listed on the TSX Venture Exchange  under the symbol TSG-V. Further information is available at www.tristarau.com

For further information, please contact:

TriStar Gold Inc.
Mark Jones III
Chairman and CEO
281-579-3400
info@tristarau.com

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.  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.  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. 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.