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canstar resources inc (ROX) Snapshot

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canstar resources inc (ROX) Details

Canstar Resources Inc., a junior resource company, acquires, explores, and develops mineral properties in Canada. It primarily explores for gold, silver, copper, zinc, lead, and other base metal deposits. The company’s principal property consists of the Mary March Project that has 18 staked claims, 2 licenses, 1 lease, and 2 patented lots covering 1,616 hectares and located in central Newfoundland. Canstar Resources Inc. is headquartered in Toronto, Canada.

canstar resources inc (ROX) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: C$100.0K
Chief Financial Officer, Director, Member of ...
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

canstar resources inc (ROX) Key Developments

Canstar Resources, Inc. - Special Call

To discuss final results of the 2014 summer drilling program on its Mary March Project and plans going forward

Canstar Resources, Inc. Announces the Final Results of the 2014 Summer Drilling Program on its Mary March Project

Canstar Resources announced the final results of the 2014 summer drilling program on its Mary March project. Results have been received for the final three drill holes completed in the program and indicate a significant improvement in the Nancy April mineralized zone along strike and confirmation that the geophysical program was successful in identifying the mineralized horizon. The current program was successful in extending the Nancy April Zone approximately 50 meters to the southwest, returning the following results: Borehole MM14-33 intersected 5.33 meters 1.2% copper, 0.2% zinc, 4.9 g/t silver, 0.4 g/t gold from 66.5 to 71.8 meters. Including an interval of 2.3 meters grading 2.5% copper, 0.1% zinc, 8.6 g/t silver and 0.7 g/t gold nested in the above intercept from 69.5 to 71.8 meters. Borehole MM14-33 returned 93.7 meters of 1.0% zinc, 0.2% lead, and 2.9 g/t silver in stockwork sulphides. Including an interval of 10.2 meters of 3.4% zinc, 0.1% copper, 7.1 g/t silver and 0.3 g/t gold. The summer 2014 drilling program was comprised of 5 holes totaling 1,724 meters of drilling, and was drilled in two separate phases. Phase 2 drilling results (Nancy April Zone): The remaining 3 holes reported were designed to test an extensive IP anomaly that is coincident with the Nancy April Horizon. The Nancy April deposit lies approximately 500 meters west of the Mary March deposit and was discovered in 1999 by Phelps Dodge Corporation ("PDC"). PDC's discovery hole intersected 6.8 meters of 1.5% zinc, 0.8% copper and 0.6% lead. Geochemical work and re-logging on historic drill core completed by the company in summer of 2013 noted strong alteration with minor mineralization downhole of Nancy April intersect and it was hypothesized that a footwall zone to a larger system may be present in the area. Drilling in Fall 2013 confirmed these results. These results indicate a significant thickening of the Nancy April mineralized horizon from previous drilling. Hole MM13-31, drilled during the Fall 2013 program, returned a mineralized interval of 18.5 meters, in comparison to hole MM14-33 which encountered over five times this thickness only 50 meters along strike. The results suggest that the Nancy April horizon is improving along strike and warrants follow-up drilling to test for continued improvement to the southwest. The second phase of the drilling program was designed to include targets delineated from the company's recent induced polarization (IP) survey. Drill holes were prioritized based on known geological data and, specifically, the known presence of the Nancy April chargeability anomaly that is coincident with the mineralized zone. Drill hole MM14-35 encountered 6.99 meters of massive sulphide at the targeted zone, confirming the efficacy of the IP system for detecting sulphide mineralization on the property. MM14-33 and MM14-35 are separated by 200 meters of untested chargeable strike length, with the anomaly extending to the southern edge of the survey grid where it is presumed to continue.

Canstar Resources, Inc. Announces First Results of 2014 Summer Drilling Program on its Mary March Project

Canstar Resources, Inc. announced the first results of it 2014 summer drilling program on its Mary March Project. Results have been received for the first two drillholes completed in the program. The Company successfully extended the Mary March Zone 50 meters to the northeast and at depth encountering the results. The summer 2014 drilling program was comprised of 5 holes totaling 1724 meters of drilling, and was drilled in two separate phases. The first 2 holes reported were designed to test a borehole electromagnetic target (BHEM) in and around the Mary March discovery zone that was detected by Canstar Resources from work earlier in 2014. In addition to MM14-32, diamond drill hole MM13-30 was extended as part of this program in order to test a geophysical anomaly that was identified near the end of this hole. The extended hole encountered significant pyrite mineralization, however, assays did not return any significant results. Phase 2 Drilling Results (Nancy April Zone). The second phase of drilling results are pending and include targets delineated from the company's recent induced polarization (IP) survey. Three holes were completed along a chargeability zone that coincides with the Nancy April mineralized horizon. This anomaly was traced over the entire geophysical grid and is open along strike. In addition to this target, two other sub-parallel horizons also exhibit chargeable anomalies were discovered by the IP survey. These parallel horizons remain untested and will be the focus of future drill programs.

 

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