Redstar Gold Corp TSXV:RGC in joint venture with Confederation Minerals Ltd TSXV:CFM announced results from its Newman Todd Property in the Red Lake Gold District, Ontario. Assays include 18.83 g/t gold over 7 metres (including 42.84 g/t over 3 metres), 22.49 g/t over 3 metres (including 63.6 g/t over 1 metre), 7.4 g/t over 5.5 metres (including 32.6 g/t over 1.1 metres). Confederation has the option to earn a 70% interest in the property and is the project operator.
Redstar President Scott Weekes commented, “We are extremely pleased with the results from the first two holes of drilling at Newman Todd in our current program. Confederation Minerals has been an extremely aggressive partner and their recent financing has put them in a position to advance the Newman Todd project at an advanced pace. Drilling confirms the presence of a large hydrothermal alteration zone, and also confirms our interpretation of multiple areas of high-grade gold mineralization within the Newman Todd Structure. Drill holes NT-056 and NT-057, were drilled from the same set up with NT-056 drilled below NT-057. The shallower drill-hole intersected moderate alteration and mineralization, while the deeper hole intersected multiple high-grade gold intercepts within much stronger alteration. Many of the important deposits in Red Lake have the highest grades at depth; our past drilling indicates that Newman Todd also has these characteristics. We look forward to further drilling to test along strike of the NTS and the wide-open potential at depth.”
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by Ted Niles