Please click here to listen to the Technical Presentation given at the AMEBC Roundup Conference on the Unga Gold Project by Redstar Gold's VP Exploration Jesse Grady, B.Sc., M.Sc. Geology:
Following an exploration program in the summer of 2014, which delineated sites for further drilling, a successful 8 hole, 1500 m diamond drilling program was completed on the Shumagin Gold Zone in May 2015. Assay results, which contained several high grade gold and silver intersections,including 202g/t Au over 1.9m and 35.3 g/t Au over 2m, showed continuity of the Shumagin Gold Zone at depth and along stike.
A second phase diamond drilling program is planned on the Shumagin Gold Zone, to test for further depth and strike extensions and other prospective high grade gold targets located within the Unga Gold Project,in 2016.
At the Newman-Todd gold project, which is located in the Red Lake Mining District of Northern Ontario, following the completion of a NI 43 101 compliant Preliminary Economic Assessment (PEA) and delivering to Redstar of an additional 500,000 shares, Confederation Minerals has recently earned an additional 20% interest in the project to bring its interest to 70%. Redstar Gold Corp retains a 30% interest. A Joint Venture will now be established to carry out further exploration and development of the project. Click here to view location of the Newmann Todd Project, Red Lake, Ontario.
In addition, following the termination of the option agreement with True Grit Resources on Dec 21st 2015, the company now retains a 100% economic interest in a total of 11 early stage gold and silver exploration properties in Nevada that were previously actively explored by AngloGold Ashanti. Redstar will be seeking suitable partners to advance these Nevada properties,