Vancouver, British Columbia – July 21, 2020 – Starr Peak Exploration Ltd. ("Starr Peak" or the "Company") (TSX VENTURE:STE) (OTC:STRPF) is pleased to announce that it has entered into an agreement with Laurentia Exploration to become Starr Peak’s geological consultant for the exploration of the NewMétal Property (“NewMétal” or “the Property”). Laurentia Exploration offers a full suite of exploration services to primarily Quebec-based companies. The firm has been involved in several significant discoveries and exploration programs in recent years, and specializes in the planning, execution, and interpretation of exploration programs and strategies with a particular expertise in gold-rich VMS and orogenic gold mineralization that is directly related to the mineral targets at the Property.
Johnathan More, Chairman and CEO of Starr Peak commented, “We are thrilled to have the opportunity to have Laurentia Exploration in charge of our exploration program. Their continuing success working with our neighbors, Amex Exploration, gives us a huge advantage. They have explored and drilled in excess of 100,000 meters for Amex which gives Starr Peak a massive head start to understanding the geology and defining our drill targets. It is also important to note that Amex has been having huge success drilling in an easterly direction which is extremely close and on trend and strike to our Newmetal property.”
The NewMétal project was recently expanded to a total of 64 mineral claims covering 1,888 hectares of highly prospective ground. The property claims are comprised of a block directly adjacent to the past-producing Normétal Mine and on trend to Amex Exploration Inc.’s Perron project. The geology underlaying the Property is comprised of felsic and intermediate volcanic and felsic plutonic rocks of the Normétal formation and is highly prospective for gold-rich VMS mineralization and orogenic gold mineralization.
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: 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, and 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 were extracted during the periods of 1926-1929, 1931-1933, and 1937-1975 and developed down to a depth of 2.7 km below surface.
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.
Figure 2: Geological Map of the NewMétal Property with respect to Amex Exploration’s Perron Project and the Normétal Past-Producing Mine.
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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No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking Information:
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Power Metals assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.
SOURCE Starr Peak Exploration Ltd.