Mining Explorers 2017: Redstar Gold Corp.

Redstar Gold Corp. is focused on expanding the epithermal high-grade gold veins at its Unga project in Southwest Alaska. The roughly 100-square-mile (250 square kilometers) Unga property blankets two high-grade gold trends – Apollo-Sitka and Shumagin – that each cut roughly six miles across Unga Island, which is just south of the Alaska Peninsula. Apollo-Sitka hosts Apollo, a historic mine that produced roughly 150,000 of gold from 1886 to 1922. Shumagin, a parallel structural trend about 2,000 meters to the northwest, is currently Redstar’s primary focus. The company’s 2017 program focused on expanding Shumagin zone, a 2,000-meter-long subset of this 9,000-meter (5.6 miles) structural trend. Past drilling had traced high-grade gold-silver veins at Shumagin for about 900 meters along strike and to a depth of 330 meters. Redstar kicked off its 2017 program at Unga in early April with a surface geophysical program designed to refine targets southwest of the Shumagin zone for drilling. This program included magnetic and induced polarization surveys across the Shumagin zone, as well as magnetic surveys at Orange Mountain, a large zone of alteration about 3,000 meters to the southwest. The data from this work was used to identify hidden targets between Shumagin zone and Orange Mountain, believed to be the hydrothermal center that fed gold-bearing fluids to the Shumagin trend. This geophysical work, along with mapping and sampling, was immediately followed by a spring drill program that included 2,288 meters of drilling in 12 holes. Redstar aimed to extend the high-grade gold vein at the Shumagin zone about 400 meters to the southwest, bringing the total drilled length to 1,350 meters. Following the drilling, crews completed an extensive soil sampling program that, when combined with previous sampling, provides continuous data from roughly 4,500 meters of the Shumagin trend – from Orange Mountain through the Shumagin zone. Redstar said this work has identified numerous targets southwest of the Shumagin zone. Follow-up prospecting proceeded a second phase of drilling that began in September.