VANCOUVER, Canada – June 13, 2019 – Starr Peak Exploration Ltd. (“Starr Peak” or the “Company”) (TSX-V: STE) is very pleased to announce it has acquired a priority land package in northwestern Quebec, directly east of Amex Exploration Inc.’s (“Amex Exploration”) (AMX: TSX-V; OTCQX: AMXEF; FRA: MX0) Perron Property and proximal to the past-producing Normétal Mine. The newly acquired NewMétal Property (“NewMétal” or the “Property”) consists of 53 mineral claims covering 1,420 hectares of highly prospective ground for orogenic gold and polymetallic VMS style mineralization in a region well-known for its gold occurrences and historical production. The Company plans to complete an initial program of prospecting, geological mapping, and high-resolution drone geophysics in order to prepare for an inaugural drilling campaign.
The NewMétal Property is located in the Abitibi Greenstone Belt of Quebec, along the Chicobi Deformation Zone. The Property is directly adjacent to Amex Exploration Inc.’s Perron Property, from which recently announced drill results include 32.2 g/t Au over 5.90 metres and 30.98 g/t Au over 8.50 metres (see Amex Exploration news releases dated May 21st and June 3rd, 2019), and proximal to the past-producing Normétal Mine, from which approximately 10.1 million tonnes grading 2.24% Cu, 5.41% Zn, 0.526 g/t Au, and 44.45 g/t Ag were extracted periodically between 1937 and 1975, with development down to a depth of approximately 2.4 km (SIGEOM - Mine Normétal).
The Company’s NewMétal Property in underlain by favourable geology consisting of rhyolite and mafic volcanic rocks, as well as diabase dikes and granitic intrusions. Further, the Property straddles a section of the Normetal Fault, a major structural corridor associated with significant polymetallic occurrences along strike from the Property, most notably, the past producing Normétal Mine.
Figure 1: Regional Geology of the Abitibi Greenstone Belt with respect to Starr Peak’s NewMétal Property. Source: Amex Exploration. (Note: the total ounces/tonnes noted for each mining camp has not been independently verified by the QP)
Quebec’s SIGEOM database notes two historical mineral showings present on the Property; Rang I-Lots 44-57 and Perron-Desmeloizes-Nord. The Rang I-Lots 44-57 Showing was discovered by diamond drilling in 1966 with 0.02% Cu and 2.38% Zn over 0.15 metres reported (Sondage 1-66). A sample of 1.02 g/t Au over 0.3 metres was also reported from a drill hole completed in 1993 in the same area (Sondage 93-05). The Perron-Desmeloizes-Nord Showing was discovered 1952 and reported as a select surface sample of 14.5 g/t Au associated with pyrite and pyrrhotite in volcanic rocks.
The Company intends to complete an initial summer exploration program consisting of geological mapping, prospecting, historical drill core re-logging and re-sampling, as well as high-resolution drone geophysics in order to identify drill targets for its inaugural drilling campaign.
Thomas Kennedy, CEO of Starr Peak commented, “The acquisition of the NewMétal Property is a fantastic addition to the Starr Peak portfolio. The drilling success of Amex Exploration over the past six months, on its adjacent Perron Property, has identified a significant high-grade gold area which we believe is in its infancy and emphasizes the potential of the Company’s NewMétal Property located immediately adjacent.”
Figure 2: Regional Geological Map of the NewMétal Property with respect to Amex Exploration’s Perron Property and the past producing Normétal Mine
Management cautions that past results or discoveries on adjacent properties (i.e. Perron, Normétal Mine) may not necessarily be indicative to the presence of mineralization on the Company’s properties (i.e. NewMétal).
As per the terms of the Agreement, the Company may earn a 100% interest in the NewMétal Property through the issuance of a $105,000 CAD cash payment and 1% Net Smelter Royalty (NSR) to the Vendor. The transaction remains subject to the approval of the TSX Venture Exchange.
Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
On Behalf of the Board of Directors of Starr Peak Exploration Ltd.,
Chief Executive Officer