Mining News: News Nuggets: Unga delivers high-grade gold-silver

Redstar Gold Corp. June 11 reported multi-ounce gold intercepts from the first two holes of a recently completed eight-hole drill program on the Shumagin prospect at its Unga gold project on the Alaska Peninsula. Hole 15SH011 cut 1.9 meters grading 5.89 ounces per ton gold and 2.4 oz/t silver over 1.9 meters. Hole 15SH012 cut three intercepts: 1.03 oz/t gold and 6.1 oz/t silver over 2.0 meters; 0.49 oz/t gold and 5.3 oz/t silver over 3.0 meters; and 3.88 oz/t gold and 12.3 oz/t silver over 0.7 meters. “These are the drill results from a new management team, and these results confirm our optimism for the Unga Gold Project, and the Shumagin area specifically. We intersected mineralization where we expected, with high-grade gold and silver grades,” said Redstar Chairman Jacques Vaillancourt. The phase-1 program at Unga was designed to target various structural elevations of the Shumagin vein system while systematically testing for continuity of mineralization and obtaining geological constraint within areas of existing known high-grade mineralization through infill drill holes, including the holes reported above; and exploratory step-out drilling of the vein system at depth and along strike to the northeast by about 100 meters through four step-out drill holes. Results from the remaining six holes are pending. Redstar said a phase-2 drill program planned for later 2015 will maintain a focus on the Shumagin prospect concurrent with exploration of other known high-grade gold targets located within the Unga gold project.

- Shane Lasley

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