SOURCE: Nevada Star Resource Corp.

November 09, 2005 08:00 ET

Nevada Star Announces Encouraging Exploration Results From MAN Alaska Copper-Gold Project

SEATTLE, WA -- (MARKET WIRE) -- November 9, 2005 -- Nevada Star Resource Corp. (OTC BB: NVSRF) (TSX-V: NEV) ("Nevada Star") today announces the results of the 2005 exploration program at its MAN Alaska Copper-Gold (Cu-Au) Project in south-central Alaska, 400 km (250 miles) northeast of Anchorage and 250 km (160 miles) south-southeast of Fairbanks. It is one of the three MAN Alaska projects 100% owned by Nevada Star. Nevada Star is seeking a joint venture partner for the MAN Alaska Cu-Au Project.

The geology of the MAN Alaska Cu-Au Project consists of Pennsylvanian-Permian volcanics and sedimentary rocks overlain by Triassic picrite and interflow sedimentary rocks which are intruded by gabbro sills and dikes and cut by major faults and intersections. The project area contains hydrothermal mineralization with copper, gold and silver hosted in altered and deformed picrite, gabbro and sedimentary rocks. Previous work had returned encouraging results, but coherent mineralized zones and associated alteration zones were not well defined. Nevada Star surface rock chip sampling had returned maximum values of 15.8% Cu, 6.89 g/t Au and 86.7 g/t Ag.

The field work to date by Nevada Star focused on the north and west parts of the Cu-Au Project area and attempted to better define basic geology and controls on the previously identified mineralization through geological mapping, rock and soil sampling, and ground magnetic surveys. One hundred thirty rock samples were collected in the 2005 program. The majority of these samples were selected to determine metal contents and alteration types and other features spatially associated with the Cu-Au mineralization. Limited exposure in most areas hampered continuous sampling to determine the full size of the mineralized zones.

Geochemical assays and geological observations returned very positive results. The maximum assays for the samples were 2.06% Cu (Gezzi prospect), 7.22 g/t Au (Broxson Ridge prospect), and 42.1 g/t Ag (Broxson Ridge prospect). The maximum Au value is the highest measured to date for the Cu-Au Project. This sample (30820) was taken from altered clastic sedimentary rock near a feldspar-phyric granitoid dike. Nearby samples from along a strike length of approximately 1000 metres through the Broxson Ridge prospect contain up to 1.78% Cu and 4.95 g/t Au. The other samples were from strongly altered and brecciated picrite 4 km to the east at the Specimen prospect and altered gabbro 6 km east at the Gezzi prospect. In addition to previously known mineralized zones and newly defined extensions thereof, new hydrothermal alteration zones and metal associations were recognized which remain to be tested by more sampling and drilling.

These hydrothermal alteration zones appear to be up to hundreds of metres in size. Field examinations and geochemical modeling reveal major albitized and silicified zones, carbonate veins and stockworks, and breccia zones associated with fault zones cutting serpentinized picrite, altered gabbro and sedimentary rocks. These zones coincide with reduced magnetic susceptibilities in magnetic TMI images, consistent with magnetite destruction during mineralization. Mineralogical studies are ongoing, but field examinations have tentatively identified pyrite, pyrrhotite, chalcopyrite, bornite, chalcocite and perhaps tenorite. Very strong correlations ("r" greater than or equal to 0.9) of Au with Se, Bi, Te, Cu, Ag and S at Specimen implies gold in selenide, telluride and sulfide mineral phases.

Nevada Star recently obtained core drilling data from a previous explorer, which includes assay results for the five drill holes. The holes were drilled at Gezzi prospect by Pioneer in 1974 and assayed for Cu, but not for Au and Ag. Highlights of this data set include intercepts of 1.31% Cu over 9 metres and 0.71% Cu over 21 metres in two separate holes collared in a mineralized trench on the west side of the prospect, and 0.7% Cu over 8 metres in a third hole collared in a second mineralized trench 300 m to the east.

These early results are very encouraging. Most significantly, the new data supports the concept of high-grade lode Cu-Au (Ag) targets. Also, despite the amount of prior work, attractive targets remain open laterally and vertically and warrant drill testing. A drill program is currently under consideration for execution in the 2006 field season, in addition to more field work and geochemical assay programs. Overall, less than 20% of the entire MAN Alaska Cu-Au Project area has been covered by grid geochemical sampling and even less by ground geophysics. Two hundred and sixty new claims were added to the property position in 2005.

The exploration program for the MAN Alaska Cu-Au Project is being carried out under the supervision of Bill Stone, Ph.D., P.Geo., a Qualified Person as defined by NI 43-101.

About the MAN Alaska Project

Nevada Star Resource Corp's 725 square km (280 square miles) of Alaskan property, officially called the MAN Alaska Project, is located 270 km (160 miles) southeast of Fairbanks and 400 km (250 miles) northeast of Anchorage. Exploration by Nevada Star began in 1995 in this large area, which is characterized by extremely high nickel (up to 15.4% Ni), PGE (up to 40 g/t Pt+Pd+Au+Ag), and gold (up to 7 g/t Au) concentrations in surface samples.

Exploration results to date on the MAN Alaska Project indicate potential for significant discoveries of nickel, platinum-group elements, gold and copper.

The MAN Alaska Project consists of three distinct areas; two nickel-copper (PGE) project areas (Area 1 and Area 2) and one copper-gold project area (Area 3). The project areas are accessible from two paved highways. View the project maps at http://www.nevadastar.com/s/MANProject.asp for a breakdown of the project areas.

Area 1, the Fish Lake-Dunite Hill project area is presently under joint venture with Anglo American Exploration (USA), Inc. (AAEUS). AAEUS is a wholly owned subsidiary of Anglo American plc, a global leader in the mining and natural resource sector. Under the terms of the joint venture agreement, AAEUS can earn a 51 percent interest in the southern portion of the MAN Alaska property by spending a total of $12 million USD by 2008. AAEUS has the right to increase their interest by an additional 19 percent by completing a positive feasibility study, at its expense, and an additional 5 percent by arranging production financing for both AAEUS and Nevada Star. Areas 2 and 3 are being explored by Nevada Star and are available for Joint Venture.

Nevada Star Resource Corp. is a mineral exploration company that uses advanced technology to search for metals that are in high demand world-wide. In addition to the Alaska property, Nevada Star currently has projects in Nevada and Utah. The Nevada and Utah properties are in joint partnership with Round Mountain Gold, and Western Utah Copper Company, respectively. Both properties are scheduled to go into production in 2006. For more information, including maps, photos and project descriptions, visit: www.nevadastar.com.

This release was prepared by management of Nevada Star Resource Corp. who take full responsibility for its contents. Neither the TSX Venture Exchange nor the NASD OTC Bulletin Board have reviewed or accept responsibility for the adequacy of this news release.

Contact Information

  • Nevada Star Contact:
    Robert Angrisano
    President
    Nevada Star Resource Corp.
    Phone: 425.467.1836
    Fax: 425.836.2948
    E-mail: rangrisano@nevadastar.com