Polar Star Mining Corporation

Polar Star Mining Corporation

April 09, 2009 16:29 ET

Polar Star Cuts Significant Widths of Copper Mineralization in First Phase Drilling at Montezuma

TORONTO, ONTARIO--(Marketwire - April 9, 2009) -


Polar Star Mining Corporation (TSX VENTURE:PSR) ("Polar Star" or the "Company") today announced that it has completed the first phase of reverse circulation ("RC") drilling at its Montezuma Project on March 27, 2009 and intersected significant widths of copper mineralization with related porphyry style alteration on a number of the Induced Polarization ("IP") highs tested.

Polar Star's Montezuma Project is located in the Sierra Limon Verde District, Region II, Chile, and encompasses 43,200 hectares. A total of 14 holes were drilled for a total of 3,502 metres. Quantec Geoscience, Santiago, Chile also completed, in late March, an additional 47 kilometres of IP surveys to expand upon and infill their 2008 geophysical survey.

The Company is presently analyzing these results, together with concurrent regional geological and geophysical evaluations to plan the next exploration phase for the Montezuma Project.


- Old workings, leached and oxide copper bearing outcrops together with geological and geophysical surveys have defined a highly prospective belt 5 - 8 kilometres wide by 30 kilometres long, centred on the West Fault System.

- 3,502 metres of RC drilling completed in 14 holes, four of which cut widths of 50 - 170 metres containing pyrite-chalcopyrite mineralization assaying from 200 ppm to 4,400 ppm (0.44%) total copper.

- These holes are on the margins of two large, 1 - 1.5 kilometres x 3 kilometres IP chargeability highs.

- The mineralization style and alteration in these holes is characteristic of the outer margins of porphyry copper systems.

- A fifth hole cut 6 metres of exotic copper oxides, atacamite and chrysocolla grading 0.32% total copper plus 44.5 g/t silver associated with a third 1 x 2.4 kilometres IP chargeability high.

- The new 47 kilometres infill IP survey confirmed the continuity of the main IP anomaly which is large enough to include all the known Chuquicamata district porphyry copper.

- The property is located 30 kilometres due south of CODELCO's Chuquicamata Mine and Smelter Complex, and covers 25 kilometres of the West Fault System and associated splays, which hosts many large porphyry copper deposits including Chuquicamata and Escondida.

The Montezuma Project

The Montezuma Project consists of a contiguous group of 100% owned exploration concessions totalling 43,200 hectares staked by Polar Star. The Property lies within the central sub-zone of the main Chilean porphyry belt, 20 kilometres south of Calama and covers 25 kilometres of strike of the West Fault System and associated sub-parallel and NW-SE cross-cutting ancillary faults. The West Fault System is well known for the exceptional size of its porphyry copper deposits.

Reconnaissance Drill Program

Between February 26 and March 27, Polar Star completed 3,502 metres of RC drilling in 14 widely spaced holes. Eleven of these were drilled to test a variety of combined chargeability-geology- geochemical targets within the main IP/Resistivity anomaly detected by Quantec in late 2008. The other three were drilled into satellite anomalies on its East flank.

Of the 11 holes drilled in the main anomaly, five holes (i.e. 3, 4, 5, 7 and 8) cut significant lengths of copper mineralization associated with three moderate-strong chargeability/resistivity highs aligned NNE along the trace of the West Fault System (see attached map).

Hole 3 drilled on the east flank of the northernmost of these highs, a 1 x 2.4 kilometres NNE elongate feature, cut 6 metres of exotic copper oxide mineralization, principally chrysocolla and atacamite, at 22 metres depth grading from 0.25 - 0.42 % total Cu and averaging 0.32% Cu + 44.5 g/t Ag.

Holes 4 and 5 also drilled on the east flank of the central high, a 1 x 3 kilometres NNE elongate feature and 1.5 kilometres apart. Hole 4 cut 54 metres of pyrite-chalcopyrite mineralization averaging 550 ppm total copper and Hole 5 cut 96m of pyrite- chalcopyrite mineralization averaging 370 ppm copper in propylitic to phyllic altered quartz dacite.

Holes 7 and 8 drilled on the southern high, a 1.5 x 3 kilometres feature and 1 kilometre apart. Hole 7 cut 50 metre of pyrite-chalcopyrite mineralization averaging 530 ppm total copper and Hole 8 cut 70 metres of pyrite - chalcopyrite mineralization averaging 510 ppm total copper also in propylitic to phyllic altered quartz dacite.

The mineralization style and alteration in these holes is characteristic of the outer margins of porphyry copper systems.

IP Survey

During March 2009 Quantec Geoscience, Santiago, Chile completed an additional 47 line kilometres infill IP/Resistivity surveying along the main trend established by their 2008 survey. Preliminary analysis of this data indicates generally good continuity of the main anomaly throughout its 25-kilometres length.

Qualified Person

The drill program was carried out under the direction of Terence Walker, M.Sc., P.Geo., qualified person within the meaning of National Instrument 43-101. Mr. Walker has reviewed the contents of this news release. All the analysis was done at ALS Chemex Laboratory in Coquimbo, Chile, using hot four acid digestion followed by Atomic Adsorption Spectrometry determination of copper and molybdenum.

About Polar Star Mining Corporation

Polar Star Mining Corporation was created to acquire advanced stage exploration properties focusing on gold, copper-gold and uranium. The geographic focus of Polar Star is Chile, where the company has approximately 146,112 hectares covering 20 properties.

Forward-Looking Statements

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors, refer to Polar Star Mining Corporation's filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.polarstarmining.com.

Share Capitalization:

Shares outstanding: 59,431,241 as at April 9, 2009

A location map of the Montezuma Project is available at the following web link: http://media3.marketwire.com/docs/psr0409fig1.pdf.

The Toronto Stock Exchange Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.

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