TriStar Gold Presents Update On Drilling At Castelo De Sonhos Project
October 5, 2016
At the Castelo de Sonhos gold project of TriStar Gold Inc. (the “Company” or “TriStar”), a drilling program is underway that is designed to provide confirmation of the assumptions used to determine the exploration target range presented in the Company’s 43-101 Technical Report filed on SEDAR in March 2016. Specifically, the step-out drilling will increase knowledge of geometry (the folding of the conglomerate band), continuity of mineralization and trends in grade and thickness. Since this information may affect investors’ decisions, Tri Star intends to provide monthly updates on the drilling program.
Two core rigs are on site and have been drilling since mid-September in the Esperanca South area. Initially, they will complete a series of six step-out holes (Figures 1 and 2) that test the exploration target model’s assumption that mineralization extends significantly beyond the last drill holes on the southwest limb. By the end of September, the first of these holes, CSH-l6-l44, was completed and the second, CSl-l-l6-l45, had reached approximately half of its planned depth.
Mr. Nick Appleyard, President and CEO, commented: “We’re off to a good start with the drilling. The first completed hole supports our View that the mineralization does continue along strike to the southwest. As we drill the 40om step-out holes to the southwest, we anticipate that we can extend Esperanca South by two kilometres or more. Then we’ll test the northern extension of Esperanca Center, followed by in-fill holes to support the estimation of an updated resource.”
As shown in Figure 3, CSH-l 6-144 was drilled with the intention of intersecting the down-dip extension of one of the many locations where there are three separate sources of evidence of strong mineralization at surface: the outcrop of the conglomeratic band, a strong geochemical gold anomaly in the soil, and hand- dug workings from historical small-scale mining activity. This hole was also designed to test the base of the overlying arenite because the two nearest holes (CSH-12-044 and CSH-12-085), approximately 20om to the northeast along the strike of the conglomerates, each encountered several meters of strong gold mineralization above 5 g/t in the arenite, immediately above the conglomerates. Since the exploration target range assessment assigned no potential to the overlying arenite, CSH-l 6-144 will assist in determining if there is additional resource potential in this unit. The deeper parts of CSH-l6-l44 are intended to test the along-strike continuity of conglomerate-hosted mineralization encountered in CSH-11-020.
Preliminary logging of the two new drill holes shows the expected sequence of lithologies, supporting that the exploration target’s model of the 3D geometry of the conglomerate band is accurate at these locations.
In October, the core from the first holes will be halved, photographed and logged in detail; Vz-core samples from these holes will be sent for analysis, with assay results expected by the end of October. During the next month, sample material for a 125 kg sample will be composited from core for the metallurgical testwork that will be needed for the preliminary economic assessment report planned for the third quarter of 2017.
TriStar's Vice-President, R. Mohan Srivastava (P.Geo.), is the QP for this press release and has prepared or supervised the preparation of the scientific or technical information in this press release.
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 Para 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.
Figure 1. Castelo de Sonhos project areas with the conglomerate outcrop, geochemical soil anomaly and footprint of 2014 resource estimate.
Figure 2. 2016 step-out holes (in dark blue) on the southwestern limb of Esperanga South..
Figure 3. Northeast-facing cross-section through CSH- 1 6-144.
For further information, please contact:
TriStar Gold Inc.
President and CEO
Neither the T SX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the T SX 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 of1995. 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 difier 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 difliculties 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 difi’er 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, fiiture events or otherwise, except as required by applicable securities laws.