STARR PEAK IDENTIFIES NEW STRONG DRILL TARGETS AT NEWMÉTAL
Interpreted results from this survey highlighted several geochemically anomalous areas, some of which are located along VTEM (Versatile Time Domain Electromagnetic) geophysical anomalies, and therefore have generated priority drill targets for the company. A total of twelve (12) areas of interest have been identified:
- Three (3) areas are characterized by a Volcanogenic Massive Sulphide (VMS) base metal signature, enriched in Zn, Cd, Pb, In, with a minor enrichment in As, Bi, Sb (See: Figure 1).
- Five (5) areas are characterized by precious metal mineralization associated with VMS systems, enriched in Ag, Pb with minor enrichment in Cu, Au, and depletion in Fe (See: Figure 2).
- Four (4) areas characterized by anomalous gold (Au) content (See: Figure 3).
The soil survey covered three (3) priority areas over the NewMétal property (See: Figure 4) which include:
- The mine horizon to the West of Normetmar which was tested for continuation of the recently discovered Eastern VMS anomaly by Amex Exploration (See press release: Amex Exploration Generates Multiple New Gold and VMS Targets at Perron From Regional Exploration Program, dated
May 30, 2023 ) that appears to extend into the western part of the NewMétal property. - The surroundings of the VMS horizon intersected by hole STE-22-98 and corresponding VTEM geophysical anomalies.
- The surroundings of hole STE-22-112 which returned anomalous gold results hosted into the granodiorite
Pluton de Normétal , located in the north-east part of the property.
The 2022 Normetmar deep VMS discovery and the new geophysical BHEM deep plate along the long deeper hole will be a focus for next drilling phase targets. This is in accordance with a potential for continued mineralization at depth when compared to the old historical Normétal mine, which was mined down to 2,400 metres. (See press release: Starr Peak Discovers Massive New Untested Bhem Anomaly On The Normetmar Deep Zone And Reports Drill Program Update, dated
The company also plans to complete a 2-week field program prior to executing the drilling phase, with the purpose of validating anomalous areas to refine drilling targets.
The soil samples were sent to ALS Canada for processing and Ionic LeachTM analysis (ME-MS23). In addition, all soil samples were separately tested for paste pH analysis (OA-ELE07). Ionic Leach samples used a static leaching process using sodium cyanide with a highly sensitive ICP-MS finish capable of sub-ppb detection. The Ionic Leach method aims to detect mineralization through deep overburden coverage. Geochemical anomalies sourced from mineralization often present sharp and high-amplitude signals, which are ideal for drill targeting.
The analysis and interpretation of the soil geochemical data was provided by
Normétal historical Mine and Normetmar:
Summary Report,
The Company wishes to caution that historical resources described above are historical. The historic resources are relevant to give a ballpark estimate of the potential on the property. Historical resources should not be relied upon. The key assumptions, parameters and methods used to prepare the historical estimate is not known and thus the difference between the historic estimates and NI 43-101 compliant estimates is also not known. The historical estimates used categories other than the ones set up in sections 1.2 and 1.3 of National Instrument 43-101, Standards of Disclosure for Mineral Projects. A qualified person has not reviewed the historical estimates and has not done sufficient work to classify the historical estimates as current mineral resources and Starr Peak is not treating the historical estimates as current mineral resources under National Instrument 43-101 and CIM Standards for mineral resources and reserves. Further exploration work needs to be done to correctly evaluate these historical resources. Additionally, the methodology of calculation is unknown by the qualified person.
Grab samples are selective by nature and the values reported may not be representative of the mineralized zone.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
On Behalf of the Board of Directors of
"Johnathan More"
Chairman and Chief Executive Officer
https://www.starrpeakminingltd.com
Neither the
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Starr Peak assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.
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