Canstar Resources: Revitalizing Gold Exploration in Newfoundland

Canstar Resources (TSXV:ROX,OTCQB:CSRNF) has an abundance of opportunity to make new discoveries on its flagship Golden Baie gold project situated in southcentral Newfoundland with a C$1.3 million flow-through financing. This project has already shown notable visible gold occurrences, including one grab sample that assayed 4,485 grams per tonne (g/t) gold.

With over 20 high-grade gold occurrences along 30 kilometers of strike on the company’s 620 km² Golden Baie property, Canstar has the potential of soon mimicking the exploration successes of New Found Gold Corp (TSXV:NFG), which is in the same gold belt and currently has a market cap of C$550 million.  In 2019, New Found Gold reported drill results that included 92.9 g/t gold over 19 meters in a geological setting that is very similar to that found at Golden Baie.

Newfoundland’s Emerging Gold Rush

Canstar Resources’ Company Highlights

• Canstar Resources is a mineral exploration and development company focused on district-scale mineral properties in Newfoundland, Canada.
• In September 2020, Canstar Resources partnered with Newfoundland-based Altius Minerals on an option agreement to acquire a 100 percent interest in approximately 62,000 hectares of Golden Baie claims. This strategic partnership solidly positions Canstar for shareholder value growth at a time when gold prices are rising and gold exploration in Newfoundland is seeing a resurgence.
• The company’s flagship Golden Baie project has widespread high-grade gold mineralization on over 30 kilometers of strike length, with much of the property yet to be explored. Gold grades discovered in the past year have been as high as 4,485 g/t gold in grab samples.
• The company currently has a market cap of C$21 million, with almost half of shares presently held by insiders and management.
• In November 2020, the company announced completion of phase one field exploration of its Golden Baie project and the identification of new gold mineralization zones. Float samples assayed up to 33 g/t gold, with additional assay results still to be announced. The company is excited about the larger exploration program planned for 2021, which will include the drilling of multiple gold targets.