TriStar Signs Drilling Contract and Confirms Soil Gold Anomaly at Castelo de Sonhos Property in Brazil
August 9, 2011
HOUSTON, TX - TriStar Gold Inc. (the Company) is pleased to announce that the Company has signed the contract to start its drilling program at its 100% owned Castelo de Sonhos property in Southwestern Pará State of Brazil.
The company has contracted Layne-Christensen do Brasil Ltda. to perform a first phase drilling plan with a minimum of 5,000 meters of core drilling to cover the two main targets at Castelo de Sonhos project, the Esperança Center and Esperança South geochemical anomalies. Drilling is scheduled to start with one drill rig in the third week of August, 2011 and with a second drill rig by mid September, 2011.
The soil geochemistry sampling program the company has performed at Castelo de Sonhos has confirmed the previous results obtained by Barrick Gold in 1995-1996. Results are complete for the Esperança Center target. The TriStar soil sampling program aims to cover and fill in the two main targets above mentioned and also to extend sampling to areas not previously sampled. As both anomalies run in the same North-South trend, the sampling lines run East-West, separated by 100 meters each (Barrick’s sampling was 200 meters) and with samples collected each 50 meters.
TriStar performed an orientation survey on the first three batches of samples (120 samples) covering the middle of the known anomaly at Esperança Center. Three preparation methods were used for three 2 Kg splits in samples with 6 Kg each.
- Sieve sample at 80#
- Sieve sample at 230#
- Grind sample at 100#
For all methods, analysis was Fire Assay with Atomic Absorption finishing in a 50 g aliquot.
The sieve 230# method provided the best results and contrasts and for this reason it was chosen for the remainder of the sampling program.
Acme Laboratories performed the preparation and analysis of all samples, executing the preparation in Itaituba-Pará, at its local preparation facility and the analysis in Santiago-Chile. Approximately 5% of the samples consist of QA/QC samples inserted by Tristar in the batches, as two types of standards, blanks and duplicates. Satisfactory results were obtained for all tests.
For a total of 691 soil samples at Esperança Center, 393 samples (57%) returned assays equivalent or higher than 100 ppb (parts per billion) gold and 220 samples (32%) returned assays higher than 250 ppb gold. Average gold value was 223 ppb and maximum gold assay was 5,641 ppb (5.64 grams per tonne). The 250 ppb gold curve defines a continuous and consistent soil anomaly which is 2,500 meters long by 800 meters wide at its central portion. In addition, a secondary anomaly measuring 300 meters by 300 meters, with gold assays ranging from 103 ppb to 738 ppb and still open to the North and East, was identified east of the main anomaly.
Mark Jones, President and CEO of TriStar stated, “We are pleased that our sampling program has so far confirmed the presence of one of the two large anomalies with an area of 2,500 meters by 800 meters while we await results of check sampling on the second anomaly. Our sampling has also confirmed the previous work conducted by Barrick and the Esperança Center will be the initial target in our aggressive drill campaign. The discovery of a third anomaly is very encouraging and we will continue to survey our entire area for additional anomalous areas”.
Mr. Rodrigo Mello, a qualified person as defined in NI 43-101, has read and approved the technical portions of this release.
TriStar Gold is a well-financed gold exploration company focused on high-potential properties in Brazil. In addition to Castelo de Sonhos, TriStar holds exploration projects in the Tapajós district known as the Bom Jardim and the Andorinhas 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 forwardlooking 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.