Houston, TX – TriStar Gold Inc. (the Company) has received the results for the final twenty seven holes completed in the second phase diamond drilling program at the Company’s 100% owned Castelo de Sonhos Gold Project in the Tapajos region of Para state, Brazil. Results received relate to infill and step-out drilling at the Esperança South and Esperança Center targets, additional drilling at the Esperança East target and first time drilling at the Esperança West target.
The latest results confirm and expand the mineralization at Esperança South to a strike length of 2,700 meters; enhance the prior results and define an open ended mineralized zone of 1,000 meters at Esperança Center; provide encouragement at Esperança East and identify gold mineralization in the first hole drilled at Esperança West target.
The second phase of drilling at Castelo de Sonhos started with two drill rigs on July 17th and was completed on November 25th 2012. Results are now complete for all sixty (60) holes drilled in 2012 in a program with a total of 6,440.40 meters. TriStar has now drilled a total of 12,103.05 meters in 93 core holes at Castelo de Sonhos.
The table below shows the most significant intercepts for the final twenty seven holes.
|Esperança South Target|
|Hole||Intercept (Au)||From (m)||To (m)||Final Depth (m)|
|CSH-78||1.50 m at 1.05 g/t||100.00||101.50||103.00|
4.00 m at 0.62 g/t
6.00 m at 1.71 g/t
|CSH-81||4.00 m at 4.63 g/t||98.00||102.00||122.70|
16.00 m at 2.95 g/t
4.00 m at 4.87 g/t
4.50 m at 5.49 g/t
|CSH-85||4.00 m at 3.34 g/t||53.00||57.00||101.65|
|CSH-86||1.60 m at 1.25 g/t||14.00||15.60||15.60|
|CSH-87||3.00 m at 1.03 g/t||0.00||3.00||15.65|
|CSH-88||12.70 m at 0.30 g/t||1.30||14.00||15.15|
|Esperança Center Target|
|Hole||Intercept (Au)||From (m)||To (m)||Final Depth (m)|
|CSH-70||2.00 m at 1.62 g/t||62.00||64.00||100.90|
11.00 m at 0.58 g/t
2.00 m at 1.50 g/t
2.00 m at 1.52 g/t
|CSH-72||8.00 m at 0.49 g/t||33.00||41.00||102.50|
|2.00 m at 2.81 g/t||76.00||78.00|
|CSH-73||2.00 m at 1.01 g/t||106.00||108.00||123.15|
2.00 m at 2.29 g/t
8.00 m at 1.03 g/t
2.00 m at 4.69 g/t
12.00 m at 2.32 g/t
2.00 m at 1.03 g/t
2.00 m at 0.70 g/t
|Esperança East Target|
|CSH-84||2.00 m at 3.12 g/t||89.00||91.00||125.10|
|Esperança West Target|
|CSH-92||2.10 m at 4.92 g/t||17.50||19.60||317.95|
All holes were drilled inclined between 45 to 55 degrees of the horizontal and were planned to intercept mineralization at right angles.
The principal goals for the second phase drilling at the Esperança South and Esperança Center targets were to add more drill holes in previously drilled sections and fill in and extend the drilling grid in these targets. The drill holes at Esperança East and Esperança West were the first investigative holes in these targets.
At Esperança South, the results confirm and expand the results of the previous holes drilled in this target. Holes CSH-81, CSH-83 and CSH-85, located in the southern portion of Esperança South confirm and enhance the mineralization in that part of the target. Mineralization at Esperança South is still open to the South and to the North, where the mineralization has now a strike length of 2,700 meters inside a soil geochemistry anomaly which extends for over 5,500 meters.
At Esperança Center, the current results enhance the previous drilling results and a mineralized zone of approximately 1,000 meters long has now been defined at this target. The strong geochemical anomaly continuous further north for at least another 1,500 meters and further drilling will be planned for this area.
At Esperança East, the initial results are encouraging and additional drilling will be planned in this target. Also, as the first drill hole was positive at Esperança West, additional drilling will be planned in this target as well.
In addition to further drilling in 2013 TriStar plans to conduct preliminary metallurgical testing and engage technical consultants to determine the steps to be taken to enable the Company to calculate a resource estimate.
“These drilling results keep confirming and expanding the previous results at Esperança South and are also confirming and enhancing the results at Esperança Center. At both targets, the mineralization is still wide open to the South and to the North. It is now quite clear that given the size of the soil geochemistry anomalies and the widespread zones of gold mineralization encountered in all targets in almost all drill holes at Castelo de Sonhos that we may be dealing with something really significant. Therefore, more work and drilling is needed in all these targets within the outline of the strong soil anomalies”, Vice President of Exploration Elton Pereira said.
Mark E Jones III, President and CEO of TriStar stated, “The 2012 drilling campaign was very successful. There appears to be a close correlation between the anomalous surface areas and the mineralized zones encountered by the drilling. As only a portion of the anomalous areas have been drilled we intend to continue to aggressively explore these areas. Mineralization continues at Castelo de Sonhos, expanding into a project which appears to have significant size. The upside of the system remains open for several linear kilometers and the geological setting seems to be very similar to Jacobina or Tarkwa and has a favorable infrastructure. We will continue our efforts to expand the project in 2013.”
The recovered HQ and NQ size cores were split in half by a standard rock saw. One-half was sent to the laboratory in intervals not greater than 2 meters length and cut depending on geologic parameters. The remaining half-core was stored on site. The samples were bagged in batches of forty (40) samples and sent from the project site to the city of Parauapebas (Carajás), where SGS- Geosol Labs has a sample prep facility.
All samples were dried at 60°C, 100% crushed to 95% minus 2mm and homogenized.
For those samples in which visible gold were not identified, a split of 250-300g aliquot was taken and pulverized to 95% minus 150 mesh, from where a new split of 50g aliquot was taken to be analyzed by fire assay/atomic absorption.
For those samples in which visible gold was identified, to minimize the nugget effect, a minimum of
1 Kg was pulverized to 95% minus 150 mesh and sieved in a 150 mesh sieve. The oversize was weighed and analyzed by fire assay/atomic absorption. The undersize was weighed, homogenized and two aliquots of 50g were split to be analyzed by fire assay/atomic absorption. Balance between weights and assays of the oversize and undersize resulted in sample’s final assay.
For both types of preparation, the pulps were airfreighted to be assayed at SGS-Geosol lab in Vespasiano, Minas Gerais state. In addition to the laboratory quality control, TriStar has added its own certified standard check samples each 10 samples.
Mr. Rodrigo Mello, FAusIMM, a qualified person as defined in NI 43-101, has read and approved the technical portions of this release.
TriStar Gold is a well-financed gold exploration company focused on high-potential properties in Brazil. In addition to Castelo de Sonhos, TriStar holds another exploration project in the Tapajós district known as the Bom Jardim Property. The Company’s shares are listed on the TSX Venture Exchange under the symbol TSG-V. Further information is available at www.tristarau.com
For further information, please contact:
TriStar Gold Inc.
Mark Jones III
Chairman and CEO
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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. 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; 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. 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.