Canstar Resources is a mineral exploration company focussed on Newfoundland, Canada. The Company trades on the TSX Venture Exchange under the symbol “ROX” and on the OTCPK under the symbol “CSRNF”. The Company’s primary focus is on the exploration of the district-scale Golden Baie Project in southern Newfoundland. Exploration work is guided by the company’s technical advisory committee, which is comprised of Dr. Lawrence Winter (Altius Minerals), Dr. David Palmer (Probe Metals), and Dr. Laurie Curtis.
The Golden Baie Project is one of the largest contiguous claim blocks in Newfoundland, consisting of 62,275 hectares (623 km2) along the southeastern margin of the Dunnage tectonic zone, just west of the Day Cove Thrust. Historical exploration, including limited shallow drilling, has identified over 20 gold occurrences spanning over 30 kilometres of a major gold bearing structure on the Golden Baie Project (Figure 1). These targets have not had any meaningful exploration work for at least a decade.
Recently, a new style of mineralization that includes visible gold in quartz veins was discovered at the Golden Baie Project with the grab samples returning assays up to 4,485 g/t gold at the Kendell Prospect (Figure 2) (Note: rock grab samples are selective by nature and values reported may not represent the true grade or style of mineralization across the property). This was the first identification of coarse, free gold mineralization on the Golden Baie Project and was deemed a priority target for 2020 exploration. This style of mineralization is markedly similar to other orogenic gold deposits, including Fosterville in Australia and Queensway in Newfoundland. Canstar’s 2020 exploration confirmed the presence of high grade mineralization with grab samples grading up to 211 g/t gold, trench channels that included 3.0 metres grading 10.2 g/t gold, and significant expansion of target areas.
A review of historic work on the Golden Baie property has identified a significant number of gold anomalies in both soil and rock samples. Canstar is planning an extensive 2021 exploration program which will include a diamond drilling program to follow up on these results and expand into other targets areas. Less than 10,000 metres of drilling have been done on the Golden Baie Project to date, with most of that done in the 1980s when much less was understood about orogenic gold deposits. With a highly technical team and a district-scale project that has extensive gold mineralization at surface, Canstar is well positioned for gold discoveries on the exciting Golden Baie Project.
