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Location Redstar Gold Corp.'s Richmond Summit project consists of 72, 100%-owned unpatented mining claims covering 2 square miles within the central Carlin trend (sections 16 and 20 of T34N/R50E) in Eureka County, Nevada. The project lies 4 miles northwest of the Mike copper-gold deposit within the Gold Quarry (Maggie Creek) district and 5 miles south of the Carlin gold mine, both areas operated by Newmont Mining Corporation. Lands surrounding the project are largely controlled by Newmont. Gold production and reserves/resources in the Maggie Creek district total at least 29 million ounces, with at least 10 million ounces in the Carlin mine area (including the West Leeville and Pete deposits). Geologic Setting The property lies at the southern tip of the Lynn window, an area exposing carbonate (calcareous) rocks in the lower plate of the regional Roberts Mountains thrust fault. Lower-plate carbonates host most of the gold mineralization along the Carlin trend, although mineralization locally extends into the overlying upper-plate rocks. The lower-plate Roberts Mountains formation is exposed within 1,000 feet of the project. Although rocks exposed on the project are dominantly upper-plate siliciclastics, thick sections of carbonates believed to part of the lower plate have been intersected in drilling and are locally exposed as thrust slices within the upper-plate rocks. In addition to this favorable stratigraphic setting, the project lies on the southern extension of the Post fault, which crosses the northeastern portion of the project. The northerly-trending Post fault system is a major structural control to world-class gold deposits in the northern Carlin trend north of the project such as Post-Betze (Goldstrike) and Meikle. The project contains numerous north trending, Late Eocene rhyolite and andesite dikes which follow the Post fault trend. These dikes can be traced north along the Post fault system from the project through the Genesis, Deep Post, Goldstrike and Meikle gold deposits. Carlin-trend gold mineralization occurred during emplacement of these dikes, which are common within the gold deposits. At Richmond Summit, known gold mineralization (see below) occurs along the margins of these dikes and within adjacent wallrock. A regional northeast-trending fault, the Richmond Summit fault, also crosses the project. Project Gold Mineralization* Carlin-type gold mineralization on the project occurs in several widely-spaced areas within upper-plate siltstones along the margins of dikes. The strongest gold mineralization identified to date occurs in the Main Zone, where select surface samples reach 7.75 ppm Au (0.226 opt [ounces per ton]). The mineralization is poorly exposed, but historic sampling in trenches returned 3.048 ppm (0.089 opt) gold over 20 feet, 4.960 ppm (0.144 opt) gold over 10 feet and 3.59 ppm (0.104 opt) over ten feet. Limited drilling in the area (prior to 1991) intersected shallow gold mineralization within 200 feet of surface, including 0.074 opt Au over 10 feet, 0.064 opt over 5 feet and 0.028 opt over 5 feet. The mineralization is hosted in greenstone and shale adjacent to and locally within a north-trending andesite dike and is accompanied by strongly-elevated arsenic (to 2.7%), antimony (to 450 ppm) and mercury (to 3.3 ppm), a signature consistent with Carlin-type gold mineralization. Prior to the 2008 exploration program (see below) the Main Zone had seen limited drilling, with only three holes deeper than 400 feet; the deepest (1,100 feet) is 500 feet from the exposed mineralization. Other mineralized areas include the Ridge Zone, 1,200 feet west of the Main Zone, which contains anomalous gold at surface to 0.676 ppm in siliciclastic rocks adjacent to a rhyolite dike. Several other areas contain anomalous gold at surface in siliciclastic rocks and altered dikes, with values reaching 0.755 ppm. Anomalous gold to 0.950 ppm over 5 feet with locally high As, has been intersected in scattered drilling outside of the Main Zone. 2008 Exploration Program (see news release on December 18, 2008 ) Summary
The magnetic survey, trenching and drilling during 2008 identified two, unexposed, north-trending andesite dikes that traverse the entire mile-long northeast part of the property. The andesites were not previously recognized and are distinct from better-exposed rhyolite dikes, which are non magnetic. The western andesite dike zone crosses the main gold zone within 100 feet of the mineralization exposed in historic trenching (samples to 7.75 ppm Au). Only one hole (core) tested the Main Zone but was incompletely sampled; the 1,300 feet hole tested to a vertical depth of 1,255 feet. The hole intersected anomalous gold to 400 ppb with strongly-anomalous As to 2,600 ppm and anomalous but weak Hg and Sb along sulfidized and argillized to silicified margins of an andesite dike and within adjacent shales. Two gold anomalies in the hole exceeding 200 ppb with high As do not have adjacent sample intervals for more than 10 feet on either side of the samples. The andesite dike occupies a newly-recognized north-trending fault, which is apparently a significant control to the Main Zone mineralization. Several 2008 drill holes (e.g., RC3 and RC4) outside of the main zone also intersected anomalous gold (to 706 ppm) with anomalous As (to 1,100 ppm) in and near dikes in upper-plate rocks. Exploration Targets The results are encouraging in indicating that mineralization is following a significant dike-filled fault along the southern extension of the Post fault system, that strong Au-As "leakage" along the dike extends to the depths tested and that mineralization in lower-plate carbonates could occur at greater depth. The potential for deeper carbonate-hosted mineralization is indicated by an historic hole about 1,500 feet to the west, which intersected limestone from 1,585 feet to the bottom of the hole at 2,700 feet; the limestone underlies greenstone. This deep Main-Zone target is similar to the geology of the world-class Meikle deposit along the Post fault system to the north. Plotting Meikle at scale on cross section and plan through the Main Zone shows that a deposit of its magnitude could easily fit in this target. Further, a broad gravity high in the Main Zone area may indicate the presence of a relatively shallow and thick block of lower-plate carbonates. The target is considered to include the parallel eastern andesite dike zone, which remains untested about 1,200 feet east of the Main Zone dike. Considering the strength of surface gold mineralization, the favorable geology, the similarities to productive gold deposits along the Carlin trend, and the location along the Carlin trend, the Richmond Summit project offers an opportunity to discover significant Carlin-type gold mineralization. The presence of gold-arsenic mineralization along northerly-trending dikes is a key vector to potential deeper mineralization and is similar to productive mineralization along the Carlin trend. Redstar believes the project warrants a second phase of surgical drilling at the main zone and elsewhere to test the intersection of altered and mineralized dikes with the underlying carbonate sequence. Photos
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