SCOTTSDALE, Ariz., June 22, 2018 (GLOBE NEWSWIRE) -- TriStar Gold Inc. (TSX.V:TSG) (the “Company” or “TriStar”) is pleased to report continued successful assay results from the recently completed 42-hole drilling program at the Castelo de Sonhos project (“CDS”). This includes 3m @ 1.2 g/t from surface, 9m @ 1.25 g/t from 22m downhole and 6m @ 1.1 g/t from 54m downhole in RC-18-315 at Esperança South and 6m @ 0.82 g/t in RC-18-318 at Esperança East, a target not included in previous resource estimates (true widths are approximately 90% of the intersection lengths). Results thus far are very encouraging given TriStar’s 2018 drilling goal to target the gaps in existing drilling and extensions beyond the current resource footprint.
Of the six mineralized conglomerate targets at CDS (shown in Figure 1):
- In Esperança East, the largest of the under-explored targets, 2018 drilling has shown reefs with higher grades and thicknesses than previously believed and has also shown that mineralization extends further to the south.
- Esperança South continues to provide positive assay results. These new holes suggest that the well-mineralized reefs may thicken as they extend to the north.
- The high priority targets are Esperança South, Central and East, which have a combined strike length of 12km. Of which 7km hosts the current resource estimate and the remaining 5km lack sufficient drilling to support resource estimation. Esperança East is a large portion of this 5km of untested reef outcrop with coincident gold-in-soil geochemistry.
- The other targets are the New Discovery Zone, the Upper Conglomerate Zone, (recent discoveries) and Esperança West, which remain as further upside potential and will not be drilled until after the PEA is published.
Mr. Nick Appleyard, President and CEO, commented: “It’s exciting to see our drilling at Esperança South and East returning such good results. We’ve got especially good news from this year’s drilling in Esperança East. The grades and thicknesses of the reefs in that relatively untested part of the deposit are coming in higher than the earliest drill holes suggested and very much in line with the results from the mineral resource definition drilling in the South and Center. We have results from 15 holes still outstanding and we anticipate having these results available by mid-July.”
Since the beginning of the 2018 drill program, a total of 34 reverse circulation (“RC”) holes for 3,972m and 8 core holes for 960m have been completed. Assays have recently been received for 4 complete holes (See Figure 1, all drilled vertically), the results are very promising. The two holes at Esperança South contained multiple intersections of anticipated grades and thicknesses. One hole at Esperança East had no significant intersections and the other contained multiple intersections of anticipated grades and thicknesses. The results are generally consistent with expectations and continue to add to our confidence and knowledge base at CDS.
Detailed summaries of drill hole locations and significant intervals have been added to the CDS project page of the company website here (or visit www.tristargold.com) along with a complete list of all significant intervals for the project.
Mineralized conglomerate targets identified at Castelo de Sonhos, with high priority targets shown in black. In Esperança East, the largest of the untested high priority targets, 2018 drilling has shown reefs with higher grades and thicknesses than previously believed and has also shown that mineralization extends further to the south. Location and depths of four most recent drill holes shown.
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.
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.
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. 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. 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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