SOURCE: TriStar Gold Inc.

TriStar Gold Inc.

July 12, 2017 10:33 ET

New Positive Drill Results at TriStar's Castelo de Sonhos Project

SCOTTSDALE, AZ--(Marketwired - July 12, 2017) - The first assay results are now available from the reverse circulation (RC) drilling program at the Castelo de Sonhos (CDS) gold project of TriStar Gold Inc. (TSX VENTURE: TSG) (the "Company" or "TriStar"). This RC drilling program began in May when the first RC rig arrived at site and is now being handled by three rigs, the last of which arrived at site in June. To date a total of 60 holes have been completed for 7,013 m; assay results are now available from 24 holes for 2,747 m. Drilling is expected to continue until we have approximately 15,000 m complete, at which point an updated resource estimate will be calculated and used as the basis for the project's first preliminary economic assessment (PEA).

"We're excited to see CDS moving forward," says Nick Appleyard, TriStar's President and CEO, "the three twin holes have demonstrated to us the benefits of combining low-cost RC drilling with high-value optical televiewer imaging and petrophysical logging to replace expensive core drilling. The first assay results from the in-fill RC holes are consistent with what we saw in the large step-out holes last fall; so, we're looking forward to publishing a PEA later this year that demonstrates our continued belief that this project meets our corporate objectives."

Figure 1 shows the location of the 60 new RC holes that have been completed in the Esperança South and Center regions of the project. All RC holes are vertical, and drilled to a target depth of 120m. A few holes were terminated short of their 120m target due to local conditions; any hole that reaches less than half of its target length is deemed to be abandoned prematurely, and will be redrilled. Three of the new RC holes are closely-spaced twins of previous core drill holes, drilled to provide data on the reliability of analytical data from RC chips.

In Figure 1, the holes for which more than half of the assay results have now been received are shown in green; the significant intervals in these holes (using a 0.4 g/t cutoff) are shown in Table 1. True width is approximately 85% of the downhole intercept length.

 
Table 1. Significant intervals for new RC holes.
 
Hole     From  To  Au
RC-17-156     34  35  1m @ 1.3 g/t
      73  74  1m @ 0.6 g/t
RC-17-157     92  93  1m @ 0.5 g/t
RC-17-158     17  18  1m @ 0.5 g/t
      61  63  2m @ 1.1 g/t
      83  84  1m @ 0.4 g/t
RC-17-159     43  48  5m @ 2.8 g/t
   inc.  47  48  1m @ 11.3 g/t
RC-17-160     51  60  9m @ 2.7 g/t
   inc.  59  60  1m @ 19.6 g/t
RC-17-161     96  99  3m @ 3.4 g/t
   inc.  98  99  1m @ 7.8 g/t
RC-17-162     11  12  1m @ 0.5 g/t
RC-17-163  No significant intervals
RC-17-164     14  16  2m @ 1.1 g/t
      67  69  2m @ 1.0 g/t
RC-17-165     47  60  13m @ 2.9 g/t
(CSH-12-44 twin)  inc.  53  59  6m @ 5.4 g/t
RC-17-166     68  85  17m @ 2.0 g/t
(CSH-12-40 twin)  inc.  73  74  1m @ 5.0 g/t
   inc.  78  79  1m @ 6.5 g/t
   inc.  82  83  1m @ 9.7 g/t
      93  95  2m @ 0.6 g/t
RC-17-167     58  85  27m @ 2.5 g/t
(CSH-14-104 twin)  inc.  61  63  2m @ 6.0 g/t
   inc.  70  71  1m @ 11.1 g/t
   inc.  84  85  1m @ 6.9 g/t
RC-17-168  No significant intervals
RC-17-169     5  6  1m @ 0.6 g/t
      8  9  1m @ 0.6 g/t
RC-17-170  No significant intervals
RC-17-171     94  95  1m @ 2.0 g/t
      114  115  1m @ 0.6 g/t
RC-17-172     20  22  2m @ 0.5 g/t
RC-17-173     71  77  6m @ 4.0 g/t
   inc.  75  77  2m @ 8.6 g/t
RC-17-174  No significant intervals
RC-17-175     38  39  1m @ 1.1 g/t
RC-17-176     102  103  1m @ 1.3 g/t
RC-17-177  < 50% of assays received to date
RC-17-178  < 50% of assays received to date
RC-17-179     59  60  1m @ 0.4 g/t
      78  79  1m @ 0.7 g/t
RC-17-180     110  111  1m @ 0.6 g/t
      115  116  1m @ 0.5 g/t
      118  120  2m @ 0.5 g/t
RC-17-181     48  49  1m @ 0.6 g/t
      72  73  1m @ 24.2 g/t

As shown in Figure 1, the RC drilling in-fills gaps in previous core drilling. When compared to the surrounding core drill holes, the significant intervals of the new RC holes reported in Table 1 are, on average:

  • lower in thickness by 17%
  • higher in grade by 25%
  • resulting in higher grade x thickness by 4%

These results are consistent with the fact that sample interval length is 1m for the new RC drill holes, and was 2m for the previous core drill holes.

Sample analysis procedures and QA/QC protocols

As it has done with each new phase of drilling, TriStar has reviewed the data from its quality assurance and quality control (QA/QC) program. With abundant free gold, some of which is coarse (>100 microns), the project benefits from the larger volume samples available with RC drilling. In order to ensure that as much material as possible is being analyzed by the lab, TriStar has switched to 1m sample intervals and has begun using the Leachwell procedure, an analytical procedure that uses an aggressive acid leach to extract gold from a 1 kg sample. The first Leachwell analyses indicate that they have higher precision than fire assays; this is likely due to the mass of the analyzed material being approximately 20x larger in a Leachwell assay than the 50g aliquots analyzed in a conventional fire assay procedure. The results presented in Table 1 include a combination of fire assays, done in duplicate or triplicate, and Leachwell assays.

Sample preparation and analytical work for the Castelo de Sonhos drilling program were carried out by SGS Geosol and ALS laboratories. SGS Geosol did sample preparation at its lab in Parauapebas, Pará State, and fire assays at its lab in Belo Horizonte, Minas Gerais; ALS did sample preparation at its lab in Goiania, Goias and Leachwell assays at its lab in Lima, Peru. All of the laboratory facilities, both the prep labs and the analytical labs, are ISO 9001:2008 and 14001:2004 certified. Both SGS Geosol and ALS use industry-standard analytical methods and have internal QA/QC programs to monitor the reliability of their work. Independently of the labs, TriStar runs its own external QA/QC program, using standards, blanks and duplicates inserted into the sample processing stream at a rate of one per 10 samples.

TriStar's Vice-President, R. Mohan Srivastava (P.Geo.), is the QP for this press release and has prepared or supervised the preparation of the scientific or technical information in this press release.

About TriStar:

TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have potential to become significant producing mines. The Company's current flagship property is Castelo de Sonhos in Pará State, Brazil. The Company's shares are listed on the TSX Venture Exchange under the symbol TSG. Further information is available at www.tristargold.com.

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Statements

Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation which are not historical facts and are made pursuant to the "safe harbour" provisions under the United States Private Securities Litigation Reform Act of 1995. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward looking statements in this press release include, the scope and success of the planned exploration program at the Castelo de Sonhos project and the Company's opinion that it has clear title to the Castelo de Sonhos property Such forward-looking statements are based upon the Company's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause the Company's plans to change include changes in demand for and price of gold and other commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments in Brazil; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of the Company's projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Image Available: http://www.marketwire.com/library/MwGo/2017/7/12/11G142561/Images/PR_Jul_11_2017_Fig01-290ad94e934a84ed99924b63d00fbfa4.jpg

Contact Information

  • For further information, please contact:

    TriStar Gold Inc.
    Nick Appleyard
    President and CEO
    480-794-1244
    info@tristargold.com