Houston, TX - TriStar Gold Inc. (the Company) is pleased to announce initial results from the third phase diamond drilling program at the Company’s Castelo de Sonhos Gold Project (“CDS”) in the Tapajos region of Para state, Brazil. Results have been received for twenty one (21) holes totalling approximately 1,437 meters, all drilled at the Esperança South target. The third phase of drilling at CDS was initiated by Layne do Brasil Ltda. on April 7th with two drill rigs. Fifty (50) holes totalling 4,100 meters are planned to be drilled in this third phase campaign at the Esperança South target.
Mark E Jones III, President and CEO of TriStar stated: “We are very pleased with the initial results of the current infill drill program. The intercepts and grades are consistent with the two prior drilling campaigns and continue to reaffirm our belief that CDS may be a large mineralized system which remains open along strike and at depth. In addition, the positive results of the preliminary metallurgical testwork could indicate a low-cost operation.”
The table below summarizes the most significant drilling intercepts available for this campaign.
|Esperança South Target|
|Hole||Intercept (Au)||From (m)||To (m)||Final Depth (m)|
|CSH-96||2.00 m at 3.00 g/t||52.00||54.00||60.25|
|CSH-97||1.90 m at 4.54 g/t||44.00||45.90||50.00|
3.65 m at 1.00 g/t
2.00 m at 1.30 g/t
|CSH-100||2.00 m at 2.91 g/t||31.00||33.00||60.40|
|CSH-101||2.00 m at 1.17 g/t||38.60||40.60||70.40|
|CSH-102||1.80 m at 3.59 g/t||53.20||55.00||60.40|
|CSH-103||4.00 m at 3.84 g/t||35.00||39.00||70.70|
15.55 m at 2.16 g/t
5.75 m at 4.31 g/t
|CSH-107||3.90 m at 1.36 g/t||71.75||75.65||80.10|
|CSH-109||2.00 m at 1.25 g/t||3.10||5.10||70.00|
1.65 m at 4.49 g/t
1.50 m at 1.24 g/t
2.00 m at 1.03 g/t
1.50 m at 1.34 g/t
|CSH-111||2.00 m at 2.32 g/t||2.00||4.00||70.20|
|CSH-112||2.00 m at 2.49 g/t||0.00||2.00||100.65|
25.40 m at 1.90 g/t
7.50 m at 2.51 g/t
6.50 m at 4.28 g/t
1.50 m at 16.82 g/t
A 2,750 meter long zone of mineralization is the subject of this drilling campaign at Esperança South and along most of its length the final drilling sections are spaced 50 meters apart with drill holes spaced at 50 meters or less in each section. As all holes are inclined between 50 to 55 degrees and were planned to intercept mineralization at right angles, the widths are believed to be true widths.
The current drill program is designed to position the Company to provide the necessary information to the Brazilian mining authorities for conversion of an exploration license to an exploitation license.
Preliminary metallurgical testing indicates promising high recovery rates, using gravity and cyanidation. The metallurgical testwork was carried out by SGS-Geosol of Belo Horizonte on a 50 Kg sample obtained from the remainder of 41 mineralized samples of 12 Esperança South drill holes that were stored at their laboratory. The test 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 mentioned size fractions.
“These drilling results continue to confirm the phase one and phase two drilling campaign rates of success at Esperança South. Also, the thicknesses and grades confirm the same pattern as previously observed with mineralized zones ranging between 1 to 25 meters thick and grades up to 16 g/t gold. Assays of 29 holes are still outstanding along this target which has been drilled so far in approximately 55% of its total length.” Vice President of Exploration Elton Pereira said.
CDS 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 recovered HQ and NQ size cores were split in half by a standard rock saw. One-half was sent to the laboratory in intervals not greater than 2 meters length and cut depending on geologic parameters. The remaining half-core was stored on site. The samples were bagged and sent from the project site to the city of Parauapebas (Carajás), where SGS-Geosol Labs has a sample preparation facility.
All samples were dried at 60°C, 100% crushed to 95% minus 3mm and homogenized. A split of 1 Kg aliquot was taken and pulverized to 95% minus 150 mesh, from where a new split of 50g aliquot was taken to be analyzed by fire assay/atomic absorption.
The pulps were airfreighted to be assayed at SGS-Geosol lab in Vespasiano, Minas Gerais state. In addition to the laboratory quality control, TriStar has added its own certified standard check samples each 12 samples. The results of this checking demonstrated an acceptable quality on sampling preparation and analysis, without any contamination episode and with adequate precision and accuracy.
Mr. Rodrigo Mello, FAusIMM, a qualified person as defined in NI 43-101, has read and approved the technical portions of this release.
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
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.
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.