Vancouver, British Columbia – August 10, 2020 – Starr Peak Exploration Ltd. ("Starr Peak" or the "Company") (TSX VENTURE:STE) (OTC:STRPF) is very pleased to announce it has expanded its NewMétal property (“NewMétal” or “the Property”) by acquiring 100% interest into Globex Mining Enterprises projects known as the Normetal/Normetmar gold, copper, zinc and silver property, the Rousseau gold property and the Turgeon Lake gold property.
The newly expanded land position in the center of Newmétal includes 10 claims covering 391.53 hectares, growing the property to a total of 74 mineral claims covering 2,279.53 hectares and now including the past-producing Normétal Mine, from which ~10.1M tonnes of 2.15% Cu, 5.12% Zn, 0.549 g/t Au, and 45.25 g/t Ag and the Normetmar showing, historic resource of 306,000 t grading 11% Zn was reported by Kerr Addison of which 48,200 t have been mined in 1990. Several gold intersections are reported including 2.19 g/t Au and 236 g/t Ag over 2.56 m including 3.47 g/t Au and 366 g/t Ag over 1.55 m (Source: Globex drilling 2007-2008, hole GN07-09).The newly acquired claims solidifies the land position of NewMétal property and add two additional gold prospective claim bloc eastward.
The Rousseau gold Property consists in a bloc of 12 claims covering 470.17 hectares and the Rollmac gold zone of 31,298 tonnes grading 11.99 g/t Au (historical non-compliant NI43-101, Northern Miner, July 13, 1992). Rollmac gold zone is described by historical work as a multiples gold bearing quartz veins system hosted in the Val-St-Gilles granodiorite. Historical work was focused on two principal veins, the Main Vein and the Mercier Vein, located 183 metres northeast of the main vein. Historical works and diamond drill hole made in 2008 confirm the present of several other gold bearing quartz vein without follow-up.
The Turgeon Lake gold Property, east of the Rousseau gold property consist of 2 claims covering 112.91 hectares. Grab samples at the water line are reported to have assayed up to 168.3 g/t Au, 30.2 g/t Au and 23.7 g/t Au (GM 52490). Drill hole LT-96-02 assayed 18.7 g/t Au over 3.09 m, including 68.9 g/t Au and 10.48 g/t Ag over 0.4 m (GM 54287).
Johnathan More, Chairman and CEO of Starr Peak commented,
“We are thrilled to add the past producer Normetal Mine and the Normetmar showing to our Newmetal Property. We now are strategically situated on trend and on strike between (and including) a past producing gold mine and Amex Exploration’s world class discovery. Additionally, the addition of the Rousseau and Turgeon Lake Properties now defines Starr Peak as a major player in this district. The historical work is extremely impressive with very high grade gold being found and we will target these results to try to find a larger gold system. The successful techniques and new theories that have been instrumental in leading to the major discovery for our neighbor Amex Exploration will no doubt be applied to all of our properties.”
Starr Peak, in association with Laurentia Exploration, has recently launched an initial program of compilation, prospecting, and geological mapping, and plans to complete an airborne EM survey and high-resolution MAG drone geophysics in the fall of 2020 in order to prepare for an inaugural drilling campaign in winter of 2021.
Figure 1: Geological Map of the NewMétal property with the new acquired claims blocs with respect to Amex Exploration’s Perron Project.
In exchange of the properties, Globex will receive $150,000 in cash payments ($50,000 on signing, $50,000 at 6 months and $50,000 at one year), 1.2 million Starr Peak shares (currently $1.64/share) and a 2.5% Gross Metal Royalty, 1% of which may be purchased by Starr Peak prior to commercial production for $1.5 million. Starr Peak will acquire 100% interest in the properties subject to the royalty (GMR).
Figure 2: Regional Geology of the Abitibi Greenstone Belt and localisation of Starr Peak's NewMétal Property.
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 44.22 g/t Au over 9.10 metres and 30.98 g/t Au over 8.50 metres.
The NewMétal Property is cross-cut by the Normetal Fault Horizon associated with gold and base metal mineralization along strike. The property is also located in the eastern extension of the Perron fault known to be a prolific gold bearing structure. Geology underlaying the Property consists of favourable rhyolite and mafic volcanic rocks, as well as diabase dikes and granitic intrusions. Two known mineral showings occur on the Property. The Rang I-Lots 44-57 showing was identified in diamond drilling in 1966, with samples reaching up to 0.02% Cu and 2.38% Zn over 0.15 metres in historical drillhole Sondage 1-66, and up to 1.02 g/t Au occurring over unknown widths in drillhole Sondage 93-05. The Perron-Desmeloizes-Nord showing is a surface showing identified in 1952 with select samples reaching up to 14.5 g/t Au.
Alexis Paulin Bissonnette, Ing. (OIQ 5037621), an independent Qualified Person as defined by Canadian NI 43-101 standards, has reviewed and approved the geological information reported in this news release. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
Rang I-Lots 44-57:
Amex Exploration Perron Project:
Amex Exploration Inc. Press Releases dated July 16, 2020 and May 21, 2019
Summary Report, Normetmar Project, January 1988 by L. Boivin
On Behalf of the Board of Directors of Starr Peak Exploration Ltd.,
Chairman and Chief Executive Officer
About Starr Peak Exploration Ltd.
Starr Peak Exploration Ltd. is a Canadian based mineral exploration company focused on the acquisition and exploration of precious and base metal mineral deposits. The primary objective of the Company is to acquire, explore and develop high potential and quality gold deposits and projects in the Americas. The Company is committed to create long term shareholder value through mineral discoveries.
For more information please contact:
Johnathan More, Chairman & CEO
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SOURCE Starr Peak Exploration Ltd.