TriStar Gold – Identifies New Drilling Targets as PFS Advances
TriStar Gold Inc. (TSXV:TSG) (OTCQX:TSGZF) (the Company or TriStar) is pleased to provide a corporate update for planned activities, principally focused on restarting drilling at the Castelo de Sonhos gold project in the next few weeks.
TriStar Gold Inc. (TSXV:TSG) (OTCQX:TSGZF) (the Company or TriStar) is pleased to provide a corporate update for planned activities, principally focused on restarting drilling at the Castelo de Sonhos gold project in the next few weeks. Additionally, TriStar will be presenting at two upcoming conferences: The Virtual Metals Investor Forum and the Precious Metals Summit Beaver Creek – VIRTUAL.
“We’re very excited to resume drilling at Castelo de Sonhos, to complete the pre-feasibility study (PFS) drilling and to test opportunities we’ve recently recognized for additional gold mineralization outside our current mineral resources,” says Nick Appleyard, TriStar’s President and CEO. “The two virtual conferences this month provide us with a tremendous platform to discuss our drilling and associated site activities with the investing community.”
An initial contract has been signed for 10,000m of reverse circulation drilling and 2,500m of core drilling. The optical televiewer (OTV) will also be back at site this month and will be used on drilling completed earlier this year and in much of the upcoming planned drilling. The drill rigs have multiple high priority targets to drill in the coming months including:
CDS Deeps represents an untested target related to gold deposition and possible remobilization from its original location in the conglomerates by the intrusion of younger granitic rocks. Several sites have been identified where the granitic rocks are close to both the surface and the gold-bearing conglomerate horizon.
Untested shallow and outcropping conglomerates
Both TriStar mapping and the artificial intelligence algorithms of GoldSpot Discoveries have identified multiple areas which appear to have potentially gold-bearing conglomerates at or near surface. These can be tested with the cost-effective combination of shallow reverse circulation drilling and OTV.
Infill and step-out drilling
There is still about 2,000m of in-fill drilling to be completed for the PFS, as well as geotechnical drilling to define pit wall stability parameters. Additionally, there are opportunities for step-out drilling in areas where good results were reported earlier this year.
Figure 1, map of conceptual drill targets at Castelo de Sonhos, showing known gold-in-soil anomaly.
Other activities at CDS for September
New topography and air photos
A Lidar (Light Detection and Ranging) survey has been flown. This will provide high-precision topography across the entire project area and the transportation corridor to BR163, the major north-south highway to the west of the project, and provides high-resolution air photos that will be used extensively in the PFS as well as in environmental and social permitting activities.
A meteorological station has now been installed to gather site-specific data for use in generating engineering design parameters and environmental controls.
On September 10th TriStar will be presenting at the Virtual Metals Investor Forum at the invitation of Gwen Preston. TriStar’s presentation will be in session 3 starting at 1pm (PDT), and can be accessed via https://webcast.fmav.ca/mifsept2020/.
On September 15th at TriStar will be presenting at the Precious Metals Summit Beaver Creek – VIRTUAL conference at 1:45pm (PDT) and the conference website can be accessed via https://www.precioussummit.com/event/2020-summit-colorado.
TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have the potential to become significant producing mines. The Company’s current flagship property is Castelo de Sonhos in Pará State, Brazil. The Company’s shares trade on the TSX Venture Exchange under the symbol TSG and on the OTCQX under the symbol TSGZF. Further information is available at www.tristargold.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF THE COMPANY:
President and CEO
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TriStar Gold Inc.
President and CEO
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 statements about the Company’s plans to complete a pre-feasibility study on the CDS project, the results of further in-fill drilling on the CDS property, the ability of the Company to complete the current in-fill drilling program, the results of further exploration target identification and the anticipated effects of the COVID-19 virus. 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; effects of the COVID-19 virus on all aspects of the Company’s business, 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.