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The Oasis Project consists of 100% Redstar-owned claims in southwestern Nevada, 26 miles southwest of the Goldfield mining district (4 million ounces of gold produced). Extensive low-grade, disseminated gold mineralization is exposed at Oasis and occurs in strongly argillized andesitic volcanic rocks. Like the Goldfield district, Oasis contains a high-sulfidation silica-alunite system, but at Oasis, this silica-alunite facies is barren and is underlain by disseminated gold mineralization. Characteristics of the gold zone are consistent with a porphyry gold system and include extensive disseminated gold in rocks containing magmatic-hydrothermal biotite, quartz-vein stockworks and elevated molybdenum and copper contents. Surface samples collected by exploration programs in the early 1980's returned gold values to 2.55 ppm, and Redstar's sampling has returned gold values to 5.41 ppm. Data from the previous exploration efforts (pre 1993) are incomplete at this time. However, available information indicates that previous drilling was shallow and limited in scope but did intersect gold mineralization, including one hole that bottomed in 0.013 opt over 100 feet from 305 to 405 feet (0.453 g/t over 30.5m). This drill hole and others were assayed with atomic absorption only and not fire assay. Given the presence of sulfide in at least some of the mineralized intervals, these assays may have underestimated the gold content. There is significant exploration potential at Oasis to expand the low-grade gold mineralization and identify high-grade quartz-vein stockwork zones. The mineralized andesitic volcanic rocks are locally concealed by post-mineralization rocks and the barren, overlying silica-alunite cap. Redstar plans to conduct additional sampling and mapping and is seeking a partner to continue advancing the project.
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