TriStar Gold Inc.(TSXV: TSG) (OTCQX: TSGZF) (the Company or TriStar) is pleased to announce results from the first six holes (649m) from the current 12,500m campaign. This drilling campaign with two reverse circulation drill rigs and one core rig is designed to: (1) Complete drilling required for the prefeasibility study, (2) Test for additional near-surface conglomerate hosted gold and (3) Test for new targets of remobilized gold hosted near granite contacts.
"The next few months are going to be exciting. Artificial intelligence technology has brought us to the point where we've got a highly detailed 3D model of the different lobes of sediments that were stacked together to create the CDS deposit. Our team of site geologists and external consultants has begun working with this model, refining it with new drilling information, so that we can use it to confidently target well-mineralized lobes." says Nick Appleyard, TriStar's President and CEO. "When drilling resumed, the first holes we were able to drill were in Esperança East, to extend the known resource there. Since then, we've been drilling new targets, including the areas identified as part of the CDS Deeps program that focuses on remobilized gold at depth. The results will now be flowing consistently well into next year".
Results from the first holes are in line with expectations, with all holes that reached target depth encountering significant intersections of gold mineralization. Drillhole RC-20-534 in the 'valley area' adjacent to Esperança South had to be abandoned at only 49m and will be completed at a later date. This then required that the RC rig moved to drier ground at Esperança East until a larger compressor could be mobilized to site.
|RC-20-535||41||42||1.0m @ 0.5g/t|
|RC-20-536||72||73||1.0m @ 0.6g/t|
|RC-20-537||64||97||33.0m @ 0.6g/t|
|Incl.||87||90||3.0m @ 1.2g/t|
|RC-20-538||44||45||1.0m @ 0.8g/t|
|69||73||4.0m @ 0.7g/t|
|RC-20-539||0||13||13.0m @ 0.5g/t|
|Incl.||0||3||3.0m @ 1.6g/t|
|25||28||3.0m @ 0.4g/t|
|55||56||1.0m @ 0.7g/t|
|63||65||2.0m @ 0.5g/t|
|73||83||10.0m @ 0.4g/t|
|92||93||1.0m @ 0.4g/t|
Table 1, Significant intersections from first 6 holes of current program. All holes were completed to 120m and drilled vertically. Hole RC-20-534 had to be abandoned at 49m, no significant intersections were encountered but the target depth of 120m was not reached.
Figure 1, Locations of the drill holes with red collars are disclosed in this press release. Planned holes shown are green for the conglomerate hosted targets and light blue for the CDS Deeps target
To view an enhanced version of Figure 1, please visit:
Artificial intelligence and exploration targeting
Evaluation of the multi-element geochemistry has led to a breakthrough in stratigraphic mapping at Castelo de Sonhos. Artificial intelligence algorithms have been able to identify stratigraphically continuous clusters that appear to represent distinct depositional phases of the original alluvial fan that brought the gold into the deposit. The resulting surface map can be seen in Figure 2. and the complete 3D model for Esperança South will be used both for additional exploration and for completing the prefeasibility study. The map and the 3D interpretation will be continually improved with information from new holes.
All drill holes are analyzed for gold and then every second sample is analyzed for multi-element geochemistry, allowing each new drill hole to be used as a vector to the most promising reefs in the system. The multi-element geochemistry from these for 5 completed holes will be analyzed to refine the next round of drill targets.
Figure 2. Surface map of sedimentary lobes and erosional surfaces developed using artificial intelligence, airborne geophysics and multi-element geochemistry from drilling.
To view an enhanced version of Figure 2, please visit:
R. Mohan Srivastava (P.Geo.), Vice President of TriStar, is the Qualified Person who has reviewed the technical information contained in this news release, including data verification, and has approved its disclosure.
Assay methods, Quality Assurance and Quality Control (QA/QC)
All drill hole samples are analyzed using a fire assay analysis of the chips collected in RC holes. Samples are transported by truck from the site to the ALS preparation lab in Brazil where they are dried, crushed, pulverized and packaged for shipment to the ALS analytical lab in Lima, Peru.
The ALS preparation and analytical labs are accredited to ISO 17025:2005 UKAS ref 4028 and have internal QA/QC programs for monitoring accuracy and precision. In addition to this, TriStar uses standards, blanks and field duplicates in an external QA/QC program to provide independent monitoring of laboratory analyses.
TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have the potential to become significant producing mines. The Company's current flagship property is Castelo de Sonhos in Pará State, Brazil. The Company's shares trade on the TSX Venture Exchange under the symbol TSG and on the OTCQX under the symbol TSGZF. Further information is available at www.tristargold.com.
On behalf of the board of directors of the company:
President and CEO
For further information, please contact:
TriStar Gold Inc.
President and CEO
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.
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 statements about the Company's plans to complete a pre-feasibility study on the CDS project, the results of further in-fill drilling on the CDS property, the ability of the Company to complete the current in-fill drilling program, the results of further exploration target identification and the anticipated effects of the COVID-19 virus. 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; effects of the COVID-19 virus on all aspects of the Company's business, 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.
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