DGAP-News: Pinestar Gold Inc.: BECKER GOLD-SILVER PROPERTY DRILLING UPDATE
(firmenpresse) - EquityStory AG-News: Pinestar Gold Inc. / Key word(s): Offer
Pinestar Gold Inc.: BECKER GOLD-SILVER PROPERTY DRILLING UPDATE
26.04.2011 / 18:51
---------------------------------------------------------------------
VANCOUVER, BC - Pinestar Gold Inc. (TSXV: PNS, Frankfurt: 3PI) ('Pinestar'
or the 'Company') is pleased to announce that it has now completed twelve
shallow diamond drill holes totalling 914 metres on the Becker Gold-Silver
property, located in Chile. These twelve holes are part of an ongoing 1,500
metre reconnaissance drill program designed to test the 'Guindos' sector,
one of several swarms of gold and silver bearing epithermal veins
identified by the Company's prior surface exploration programs. Assays are
awaited.
Highlights:
* Of the twelve diamond drill holes completed in the Guindos sector, seven
cut significant vein intercepts of from 1.5 to 5.4 metres thick.
* Prior surface channel sampling of the Guindos sector veins returned highs
of 8.27 g/t Au and 13.5 g/t Ag over 2.5 metres to 9.06 g/t Au and 2.23 g/t
Ag over 6.0 metres width.
* The Guindos vein systems at surface vary from 5-30 metres wide, are 1.5
to over 10 metres in width and can traced over strike lengths of 200 to 600
metres.
* The Becker vein systems appear to have developed under low to medium
sulfidation epithermal conditions and as such have a similar geological
setting to past and current producers in the Coastal Precious Metal Belt
such as Yamana's Florida Mine.
* Following completion of the Guindos sector drilling the Company plans to
immediately start drilling of the La Juelas sector veins, where prior
trenching returned peak values of 9.6 g/t Au over 7.5 metres width and
12.25 g/t Au over 3 metres width.
The Becker property is located 250 kilometres south of Santiago in the
Coastal Precious Metal Belt and is readily accessible by paved and good
gravel road from the city of Talca, 40 kilometres to the southeast in
Region VII, Chile. Pinestar holds an option to earn up to a 70% equity
interest in the Becker property from Condor Resources Inc.
Property Geology:
The Becker property cover part of a NE-SW trending roof pendent of
Cretaceous volcanics, subvolcanic porphyry bodies and sediments within
Cretaceous granodiorite. Extensive gold and copper mineralization in the
form of epithermal to upper mesothermal veins, pipes and disseminations
occur throughout this roof pendent generally associated with the
sub-volcanic porphyries and healed fault zones. Several sets of NW-NNW and
E-W to WNW trending anastomosing and bifurcating tensional faults cross-cut
the volcanic package and are locally the focus of auriferous epithermal to
upper mesothermal quartz-sulphide veins and clay-sericite-quartz
alteration. Two main areas of such vein-alteration systems have been
identified to date on the Becker property: (a) the 'Lajuelas' sector; and
(b) the 'Guindos' sector. The veins are similar in both sectors, vary from
5-30 metres wide, are traceable for 200 metres to over 1 kilometre in
length and most contain variable amounts of gold-silver and or
gold-silver-copper mineralization.
Deposit Types:
The Becker vein systems appear to have developed under low to medium
sulfidation epithermal conditions and as such have a similar geological
setting to past and current producers in the Coastal Gold Belt such as El
Chivato, Chancon, Yamana's Florida Mine, Las Palmas, 10 kilometres
northeast of the Becker Property and the Chépica Mine, 25 kilometres to the
south. In all of these locales gold and silver mineralization generally
occurs in banded or fine grained quartz and or quartz-sulphide veins,
breccias, pipes and stockworks. Copper, zinc and lead are also important
by-product minerals in most areas.
Exploration Results:
Guindos Sector
Detailed geological mapping and channel sampling in this sector to date has
identified two clusters of banded to massive epithermal quartz - sulphide
veins covering at least 0.5 sq km each. Individual veins vary from 1.5 to
over 10 metres in width, tend to occur in northwest trending swarms of 3 to
6 veins within wider zones of clay-sericite alteration and have been traced
over strike lengths of 200 to 600 metres. Veins in both clusters contain
trace to 5% sulphide, mainly as pyrite and chalcopyrite. To date 40
representative rock chip and channel samples have been collected from these
two clusters. The northern most of these, with 21 samples, contains the
highest gold and silver values range from a low of 0.021 g/t Au and 1.23
g/t Ag over 3.5 metres width to highs of 8.27 g/t Au and 13.5 g/t Ag over
2.5 metres width to 9.06 g/t Au and 2.23 g/t Ag over 6.0 metres width.
This area is the site of the current drilling program and is open to
expansion to the northwest and southeast.
Qualified Person
Mr. Terence Walker, M.Sc., P.Geo., is a qualified person within the meaning
of National Instrument 43-101, and has reviewed and approved the contents
of this news release. Mr. Walker is an independent consultant to the
Company.
ON BEHALF OF THE BOARD
PINESTAR GOLD INC.
Jeremy Ford
President, Chief Executive Officer and director
CONTACT INFORMATION
PINESTAR GOLD INC.
Jeremy Ford
President, Chief Executive Officer, and director
Email: jford(at)telus.net
Tel: +1 (604) 647-4487
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Suite 818-602 West Hastings Street Vancouver, BC, Canada V6B 1P2
Office +1 604-647-4487
www.pinestargold.com
FORWARD LOOKING STATEMENTS
This release contains 'forward-looking statements' within the meaning of
applicable Canadian securities legislation, including predictions,
projections and forecasts. Forward-looking statements include, but are not
limited to, statements that address activities, events or developments that
the Company expects or anticipates will or may occur in the future,
including such things as the continuance of reconnaissance drilling on the
Guindos sector of the Becker property, future drilling plans with respect
to the Lajuelas sector of the Becker Property, other future exploration
activities of the Company on the Becker property, future business strategy,
competitive strengths, goals, expansion, growth of the Company's
businesses, operations, plans and with respect to exploration results, the
timing and success of exploration activities generally, permitting time
lines, government regulation of exploration and mining operations,
environmental risks, title disputes or claims, limitations on insurance
coverage, timing and possible outcome of any pending litigation and timing
and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the
use of words such as 'plans', 'planning', 'planned', 'expects' or 'looking
forward', 'does not expect', 'continues', 'scheduled', 'estimates',
'forecasts', 'intends', 'potential', 'anticipates', 'does not anticipate',
or 'belief', or describes a 'goal', or variation of such words and phrases
or state that certain actions, events or results 'may', 'could', 'would',
'might' or 'will' be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and
assumptions, including, the availability of suitable personnel to complete
drilling and other exploration activities, that equipment necessary for
exploration is available asscheduled and does not incur unforeseen break
downs, the occurrence of suitable weather conditions to conduct drilling
and other exploration activities, the results of past drilling and
exploration activities, that contracted parties provide goods and/or
services on the agreed timeframes, , that no labour shortages or delays are
incurred, that plant and equipment function as specified, that no unusual
geological or technical problems occur, and that laboratory and other
related services are available and perform as contracted. Forward-looking
statements involve known and unknown risks, future events, conditions,
uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any future
results, prediction, projection, forecast, performance or achievements
expressed or implied by the forward-looking statements. Such factors
include, among others, the interpretation and actual results of current
exploration activities; changes in project parameters as plans continue to
be refined; future prices of minerals; possible variations in grade or
recovery rates; failure of equipment or processes to operate as
anticipated; the failure of contracted parties to perform; labour disputes
and other risks of the mining industry; delays in obtaining governmental
approvals or financing or in the completion of exploration, as well as
those factors disclosed in the company's publicly filed documents.
Although the Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements.
End of Corporate News
---------------------------------------------------------------------
26.04.2011 News transmitted by EquityStory AG.
The issuer is responsible for the contents of the release.
EquityStory publishes regulatory releases, media releases on the
capital market and press releases.
The EquityStory Group distributes authentic and real-time financial
news for over 1'300 listed companies.
The Swiss news archive can be found at
http://www.equitystory.ch/nachrichten
---------------------------------------------------------------------
121470 26.04.2011
Datum: 26.04.2011 - 18:51 Uhr
Sprache: Deutsch
News-ID 33875
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 202 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Pinestar Gold Inc.: BECKER GOLD-SILVER PROPERTY DRILLING UPDATE"
steht unter der journalistisch-redaktionellen Verantwortung von
Pinestar Gold Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
