SCOTTSDALE, Ariz., Nov. 21, 2019 (GLOBE NEWSWIRE) -- TriStar Gold Inc. (the “Company” or “TriStar”) is pleased to announce the first results from the drilling campaign now underway at its Castelo de Sonhos gold project. This campaign aims to upgrade confidence in Mineral Resources in the Esperança South region of the project for the purpose of Mineral Reserve calculations in the pre-feasibility study. The assay laboratory has now reported results for 20 of the reverse-circulation (RC) drill holes (out of a planned total of approximately 200 holes); all of these lie on eight adjacent section lines spaced 50m apart. Results include:
- 24m @ 1.1 g/t from 95-119m in RC-19-342
- 14m @ 1.2 g/t from 36-50m in RC-19-347
- 1m @ 17.9 g/t from 51-52m downhole in RC-19-345
True widths are approximately 90% of the downhole lengths reported above.
TriStar continuously monitors drill results by evaluating whether they: meet expectations from previous drill holes nearby, exceed expectations or do not meet expectations. Of the holes whose assays have now been reported, 90% of them meet or exceed expectations, with nine of them showing assays consistent with what has already been seen in nearby drilling and nine of them showing assays that are noticeably better than expected.
TriStar is drilling the holes in a sequence that aims to first gather information from holes whose results will assist decisions on whether or not other holes should be drilled. On the seven section lines covered by the first group of holes, there are 18 possible hole locations for which drilling is contingent upon the results of earlier drilling. The early assay results are sufficiently positive that 15 of these contingent holes will now be drilled; decisions on the other three require assay information not yet available.
"We are very pleased with these early results," said Nick Appleyard President and CEO. "They’re coming in as-good-as or better-than we expected. And we’re pleased that our sequencing of the drilling is helping us with cost control, generating early information that allows us to make smarter decisions about hole locations later in the campaign. This is a very encouraging start to the infill program that will lead to the prefeasibility study aimed at taking the CDS Project, for the first time, from resources to reserves."
Detailed summaries of drill hole locations and significant intervals have been added to the CDS project page of the company website (www.tristargold.com) along with a complete list of all significant intervals for the project.
Assay methods, Quality Assurance and Quality Control (QA/QC)
All drill hole samples are analyzed using a fire assay analysis of the chips collected in RC holes. Any sample that returns greater than 0.1 g/t gold is automatically submitted for a duplicate fire assay analysis and the average grade is used. Samples are transported by truck from the site to the ALS preparation 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.
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.
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.
For further information, please contact:
TriStar Gold Inc.
President and CEO
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35a0200a-f051-4f12-b359-2adb9a90764a