Archean Star Completes 2nd Diamond Drill Hole at Gnaweeda and to Conduct SAM Geophysical Survey
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/15/11 -- Archean Star Resources Inc., ("Archean" or the "Company") (TSX VENTURE: ASP) reports that it has completed its 2nd diamond drill hole at 296 meters, in its current drill program at the Turnberry gold prospect at Gnaweeda, and has engaged Gap Geophysics Australia Pty, Ltd, of Brisbane Australia, to conduct a series of SAM surveys on its Gnaweeda Gold Project in the Murchison Gold Belt, Meekatharra, West Australia.
The discovery of mineralization in Western Australia is far more dependent on remote sensing techniques than in most other places in the world due to lack of bedrock exposure in flat terrane widely covered by transported cover and the deeply weathered (saprolite) nature of the underlying bedrock. The SAM surveys will be conducted at the Bunarra, Turnberry, St. Anne's, Far East and CGS11 prospects commencing the third week of January, 2012.
"SAM" or Sub-Audio Magnetics is a high definition geophysical technique based on advanced Australian magnetometer technology that has been used extensively in Australia over the past decade to map sub-surface structure and lithology in a variety of geologic environments.
SAM is particularly suited to identifying structures hidden by the overlying highly weathered overburden and, along with the already conducted ultra-detail aeromag survey, IP survey, surface mapping, and the data from the extensive drilling database, will assist in the creation of a new geologic map model of Gnaweeda.
This new geologic model will be used to define new, or refine existing, drill target areas and to assist in re-evaluating the substantial mineral potential of Gnaweeda, including the potential for copper/gold/silver deposits.
The Meekatharra Gold Field has produced approximately 3.5 million ounces of the over 12 million ounces reported produced from the Murchison Gold Belt. Reed Resources Ltd, an ASX listed company which has recently taken over the Meekatharra, Reedy and Nannine tenements in the Meekatharra Gold Field, has reportedly identified additional resources of approximately 3.29 million ounces of gold, including a copper/gold/silver prospect approximately 3 km to the west of their Bluebird mill, and approximately 7 km south of the town of Meekatharra. Doray Minerals Limited, also an ASX listed company, has recently reported a 329,000 ounce gold resource approximately 40 km north of the Meekatharra gold field at its Andy Well project, approximately 10 km to the west of Gnaweeda.
Archean Star Resources Inc. is a junior exploration company that, through its wholly owned subsidiary, Archean Star Resources Australia Pty Ltd, has entered into an Option Agreement, subject to a 75% back in right, to earn 100% of Teck Australia Pty Ltd's interest in Chalice Gold Mines Limited's Gnaweeda Gold Project in West Australia. Kent Exploration Inc. (TSX VENTURE: KEX) with approximately 10,000,000 shares, or 22% of the outstanding common shares, is the controlling shareholder of Archean.
This News Release has been prepared on behalf of the Archean Star Resources Inc. Board of Directors, which accepts full responsibility for its contents. This news release has been reviewed by Dr. Clay M. Conway, P.Geol. a Qualified Person as recognized by National Instrument NI-43-101 and a director of the Company.
ON BEHALF OF THE BOARD
Graeme O'Neill, President
Neither the TSX Venture Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), has reviewed, nor do they accept responsibility for, the adequacy or accuracy of this news release.
Contacts:
Archean Star Resources Inc.
Graeme O'Neill
President
(604) 684-3394
(888) 282-7763 (FAX)
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Datum: 15.12.2011 - 17:43 Uhr
Sprache: Deutsch
News-ID 97643
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