Redstar Gold Corp. (TSX VENTURE:RGC) has announced it has acquired a new 100%-owned property along the prolific Cortez gold belt in central Nevada.
The new Larus project consists of a group of mining claims covering a sediment-hosted (Carlin-type) gold system about 23 miles northwest of Eureka, Nevada.
Gold mineralization at Larus occurs in silicified zones (jasperoids) and quartz veins in "lower-plate" limestone that locally contain stibnite (antimony sulphide), a common accessory mineral in productive Carlin-type gold deposits. Mineralization is also locally present in "upper plate" shale. Preliminary sampling completed by Redstar returned significant gold in several widely-spaced areas, with values reaching 3.23 ppm (g/t); historic assays from previous exploration programs reach 7.6 ppm. Mineralization is known over a strike length of at least 4,000 feet (1,200 m). There has been no significant work at the project since 1990, and historic drilling was limited in scope.
Dr. Jacob Margolis, Redstar's U.S. Exploration Manager, states: "The gold-bearing silicified zones at Larus, as well as the distribution of the host limestone, are controlled by a series of property-scale and regional-scale north-northwest trending fault zones. This is the same structural control in the majority of productive Carlin-type gold deposits along the Cortez gold belt, including Pipeline (+20 million ounces) and Cortez Hills (+10 million ounces). The Larus project also lies along a north-northwest trending regional magnetic linear which passes through the Chert Cliff gold deposit about 6 miles to the northwest."
Dr. Jacob Margolis is a qualified person as defined by National Instrument 43-101 and has reviewed this news release. Dr. Margolis is the US Exploration Manager for Redstar Gold Corp.
Source: Redstar Gold Corp.