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Recent Exploration

Alaska, USA

Redstar's goals are to establish a year-round exploration camp and expand known mineralization at the Shumgain high-grade vein, the Centennial disseminated gold deposit and the Apollo-Sitka vein system as well as develop targets in a number of other mineralized areas. The phase-one drill program on the Shumagin vein represents the initial work by Redstar on a large land package within an under-explored epithermal district.

Alaska
Highlights from Phase One Drilling
    • SH010 -0.55 metres of 738.0 g/t gold and 408.0g/t silver
      • Within 1.65 metres of 246.42 g/t gold and 136.80g/t silver
    Simplified Section
    Gold/core length
    Click to Enlarge
    • SH001 - 0.61 metres of 16.75 g/t gold and 20.2 g/t silver
      • Within 3.66 metres of 4.14 g/t gold and 9.4 g/t silver
    • SH006 - 0.45 metres of 9.56 g/t gold and 9.2 g/t silver
      • Within 22.1 metres of 1.42 g/t gold and 9.3 g/t silver
    • SH007 - 1.0 metres of 43.8 g/t gold and 18.5 g/t silver
      • Within 21.0 metres of 4.02 g/t gold and 5.4 g/t silver


    Table of Results

    Hole

    From (m)

    To (m)

    Width (m)

    Gold (g/t)

    Silver (g/t)

    11SH001

    21.34

    25.00

    3.66

    4.14

    9.40

    Including

    22.39

    23.00

    0.61

    16.75

    20.20

    11SH002

    Drilled 500 m east of SH-001; intersected anomalous gold/silver within 9.0 m brecciated quartz vein

    11SH003

    28.00

    31.10

    3.10

    1.97

    16.80

    11SH004

    Hole lost before target at 47 metres

    11SH005

    Anomalous gold / silver within 60 metres of veining

    11SH006

    171.50

    193.60

    22.10

    1.42

    9.30

    including

    173.74

    175.05

    1.31

    5.38

    9.80

           and including

    179.55

    180.00

    0.45

    9.56

    9.20

          and including

    189.10

    193.00

    3.90

    2.39

    19.10

    11SH007

    223.00

    244.00

    21.00

    4.02

    5.40

    including

    223.00

    228.00

    5.00

    10.75

    7.30

          and including

    223.00

    224.00

    1.00

    43.90

    18.50

       and including

    231.65

    232.00

    0.35

    6.17

    5.90

         and including

    239.50

    240.90

    1.40

    10.58

    11.90

         and including

    239.50

    239.90

    0.40

    15.35

    20.00

        and including

    240.40

    240.90

    0.50

    16.60

    13.50

    * Width is calculated as core length and does not imply true width of the zone. Weighted average gold intervals apply a 0.25 g/t lower cut-off. Internal dilution within reported intervals does not exceed core lengths of two metres unless otherwise indicated.

    Hole

    From (m)

    To (m)

    Width (m)*

    Gold (g/t)

    Silver (g/t)

    11SH008

    136.80

    140.50

    3.70

    0.679

    10.50

         including

    139.20

    140.50

    1.30

    1.785

    12.10

    11SH008

    174.00

    182.20

    8.20

    0.430

    5.80

         including

    180.30

    180.80

    0.50

    4.260

    4.80

    11SH009

    194.00

    224.00

    30.00

    2.141

    6.20

         including

    202.00

    214.00

    12.00

    4.519

    5.30

         and including

    207.00

    211.00

    4.00

    11.701

    10.20

         and including

    210.10

    211.00

    0.90

    43.100

    37.20

    11SH009

    251.00

    257.00

    6.00

    1.436

    2.30

         including

    254.00

    255.00

    1.00

    6.670

    5.50

    11SH010

    231.25

    260.90

    29.65

    14.977

    11.50

         including

    231.25

    244.00

    12.75

    2.659

    5.70

    11SH010

    259.25

    260.90

    1.65

    246.419

    136.80

        including

    259.25

    259.80

    0.55

    738.000

    408.00

    * Width is calculated as core length and does not imply true width of the zone. Weighted average gold intervals apply a 0.20 g/t Au cutoff with a maximum 4 meters of internal waste unless otherwise indicated.

    Shumagin Vein

    Redstar's focus in 2011 was the Shumagin Vein on Unga Island. The vein occurs along a northeast-trending fault zone within volcanic rocks and is at least 1.3 km long; high-grade mineralization has been discovered along at least 800m of the vein zone. Exploration to date has not defined the limits to mineralization along strike and at depth. The epithermal gold-silver vein mineralization occurs within steeply-dipping quartz/carbonate veins and breccias at the faulted contact between andesite flows and a crystal-lithic tuff. The vein system lies within a much broader structural corridor which is about 1.5 km wide and 9 km long. There are other mineralized vein zones within this corridor that have seen only limited exploration. For example, the Aquila vein system is 6 km southwest of the Shumagin Vein and has been traced for over 2 km. Limited shallow drilling returned values up to 113 g/t gold over 0.4m. There has been no drilling on the Aquila system since the early 1980's.



    Previous drilling at the Shumagin Vein led to a historic resource estimate of 254,000 tonnes (280,000 tons) grading 27.4 g/t (0.80 ounces per ton) gold and 127 g/t (3.7 opt) silver (SRK Consulting, 2000). The resource was based on shallow drilling in the late 1980's that was within about 150m (500 feet) of surface. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, the issuer is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.

    Discussion of phase one drilling at the Unga Project

    During the 3rd quarter of 2011, Redstar completed 10 core holes totaling 2,062m on the Shumagin gold-silver vein. All holes intersected quartz-carbonate veins within broad stockwork-style vein zones as wide as 70 m. Hole 4 was lost at shallow depth prior to intersecting the target vein zone. Of the 9 holes that crossed the vein zone, 6 returned gold mineralization exceeding 4 g/t (> 0.1 opt) Au with local multi-ounce bonanza-grade intersections (see tables, map and sections below). Gold mineralization in the veins occurs with minor amounts of base-metal sulfides, and coarse visible gold is common. As is typical of high-grade gold vein systems, visible gold commonly causes highly-variable drillhole assay results across small areas, and this is apparently true at Shumagin. Redstar is in the process of completing metallic screen and check assays to further quantify the results.

    The current drilling was designed to confirm and expand on this historical resource. Drillhole SH010 was drilled down plunge of the historical resource and returned the highest gold grades on the property (0.55 m of 738 g/t gold -- 1.8 feet of 21 oz/t gold) within a broad interval of lower grade. The wider interval includes 9.9 metres of 3.2 g/t gold and the entire 29.7 metre interval averages 15.0 g/t gold (97.4 feet of 0.44 oz/t gold).

    Eight of the first-phase holes tested the vein at shallow depths along a strike length of 210m, with holes 2 and 3 drilled as stepout tests along strike to the northeast and southwest, respectively. Drillhole SH-003 intersected only low-grade gold; however, the hole passed below an area of the outcropping vein that contains multiple high-grade surface samples across the vein that include 2.4m grading 51.4 g/t Au. Drillhole SH002 was drilled approximately 500 metres to the northeast of hole 10 and intersected anomalous gold and silver values within a nine metre zone of quartz-carbonate breccia. Limited historic drilling in this area had intersected high-grade gold (37.7 g/t over 0.76m). As noted above, the lack of high grade in holes 2 and 3 may be due to the distribution of coarse gold as noted above.

    Unga Project

    The Unga Project covers approximately 250 square km and contains numerous gold occurrences. In addition to the Shumagin Vein, the project contains the historic Apollo-Sitka mine area, where approximately 150,000 oz of high-grade gold was produced between 1891 and 1922, and the Centennial disseminated gold deposit, which contains a non NI 43-101 compliant resource of 4.35 million tonnes grading 1.5 g/t gold. The Unga Project consists of two properties acquired by Redstar in 2011: the Shumagin Property and the Unga-Popof Property. Redstar is purchasing a 100% interest in the Shumagin Property from Magnum Hunter Resources. The mineral rights to the Unga-Popov Property are held by Full Metal Minerals Inc. under a lease agreement with The Aleut Corporation, an Alaska Native Regional Corporation headquartered in Anchorage, Alaska. Redstar has signed an agreement with Full Metal, giving Redstar the right to earn a 60% in the property by completing $5 million in exploration expenditures by August 1, 2015, making cash payments of $300,000 by August 1, 2014, and issuing 1,000,000 shares by August 1, 2014. Redstar has the option of earning an additional 15% interest by producing a bankable feasibility study and issuing an additional 1 million shares to Full Metal. Redstar will issue an additional 1 million shares in the event of commencement of commercial production.