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Redstar
Gold Acquires Property Near the Pipeline Mine on the Cortez Trend in Nevada
Redstar
Gold Corp. (TSX.V:RGC) is pleased to announce the acquisition of a new gold
exploration project in central Nevada. The project, Cooks Creek, consists of
approximately 5 square miles of 100%-owned unpatented mining claims covering an
area of outcropping sediment-hosted gold mineralization about 8 miles west of
the Pipeline mine. Cooks Creek lies along the Battle Mountain – Eureka mineral
belt, also referred to as the Cortez trend. The Pipeline and adjacent Cortez and
Cortez Hills Carlin-type gold deposits contain more than 20 million ounces of
gold (production plus reserves/ resources); the mines are operated by the Cortez
Joint Venture (Barrick Gold Corporation and Kennecott Explorations Australia
Ltd.). Scott Weekes, president of
Redstar states: “Cooks Creek is another project acquired as a direct result of
the AngloGold Ashanti database agreement signed by Redstar in 2005.
Our
growing portfolio of Nevada projects is a testament to the value of this
database. Redstar is extremely pleased to have acquired a project in the Cortez
trend, only 8 miles from the Pipeline deposit, with gold values at surface and
in historic drill holes.” The main gold zone at Cooks Creek covers an area of
at least 2,900 by 2,500 feet (890 x 760m) with surface rock-chip assays reaching
1.26 g/t gold. The area contains strongly anomalous arsenic, mercury, and
antimony (which locally occurs as stibnite), elements that are characteristic of
productive Carlin-type gold deposits. Mineralization is hosted by an intrusive
rhyolite plug and adjacent silicified siltstone and chert. Redstar’s U.S.
Exploration Manager, Dr. Jacob Margolis, notes: “We are very excited to bring
this quality gold project to our portfolio, and we now have projects along both
the Carlin and Battle Mountain world-class gold trends. The position of Cooks
Creek along the Battle Mountain trend, the presence of gold mineralization
associated with intrusive rocks, the strong structural features, and the trace
element signature are very prospective. I’m confident in the potential of the
project to yield additional gold mineralization, especially with integration of
the strong structural elements of the project.”
About
Redstar Gold Corp.
Redstar
Gold Corp. is a Vancouver-based company focused on gold exploration in Nevada
and Red Lake, Ontario. For more
detailed information on Redstar’s Nevada projects, as well as its gold
projects in the Red Lake area, please visit the company’s web site at www.redstargold.com
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