VANCOUVER, BC, June 21, 2024 /CNW/ - Starr Peak Mining Ltd. ("Starr Peak" or the "Company") (TSXV:STE) (OTCQX:STRPF) is pleased to announce that the company has identified several exciting untested geochemical soil anomalies on its NewMétal property ("NewMétal" or "the Property"), located in the Abitibi Greenstone Belt of Québec near the town of Normétal. This program, covering some of the priority areas, was completed last year before winter. An analysis from this survey has returned base and precious metal anomalies over new areas, as well as strengthening knowledge on historical zones.
Interpreted results from this survey highlighted several geochemically anomalous areas, some of which are located along VTEM (Versatile Time Domain Electromagnetic) geophysical anomalies, and therefore have generated priority drill targets for the company. A total of twelve (12) areas of interest have been identified:
- Three (3) areas are characterized by a Volcanogenic Massive Sulphide (VMS) base metal signature, enriched in Zn, Cd, Pb, In, with a minor enrichment in As, Bi, Sb (See: Figure 1).
- Five (5) areas are characterized by precious metal mineralization associated with VMS systems, enriched in Ag, Pb with minor enrichment in Cu, Au, and depletion in Fe (See: Figure 2).
- Four (4) areas characterized by anomalous gold (Au) content (See: Figure 3).
The soil survey covered three (3) priority areas over the NewMétal property (See: Figure 4) which include:
- The mine horizon to the West of Normetmar which was tested for continuation of the recently discovered Eastern VMS anomaly by Amex Exploration (See press release: Amex Exploration Generates Multiple New Gold and VMS Targets at Perron From Regional Exploration Program, dated May 30, 2023) that appears to extend into the western part of the NewMétal property.
- The surroundings of the VMS horizon intersected by hole STE-22-98 and corresponding VTEM geophysical anomalies.
- The surroundings of hole STE-22-112 which returned anomalous gold results hosted into the granodiorite Pluton de Normétal, located in the north-east part of the property.
Johnathan More, Chairman and CEO of Starr Peak commented, "We are gearing up for an active 2024 exploration program. Our neighbor, Amex, has been active and proving up a gold deposit of importance and are drilling towards us on trends and strike for base metals commodities. With our promising areas, including the new Normetmar deep discovery, we are looking forward to the next drilling phase to come."
The 2022 Normetmar deep VMS discovery and the new geophysical BHEM deep plate along the long deeper hole will be a focus for next drilling phase targets. This is in accordance with a potential for continued mineralization at depth when compared to the old historical Normétal mine, which was mined down to 2,400 metres. (See press release: Starr Peak Discovers Massive New Untested Bhem Anomaly On The Normetmar Deep Zone And Reports Drill Program Update, dated October 25, 2022). The next drilling campaign will also include testing geochemically anomalous areas, some of which overlap with priority VTEM geophysical anomalies.
The company also plans to complete a 2-week field program prior to executing the drilling phase, with the purpose of validating anomalous areas to refine drilling targets.
The soil samples were sent to ALS Canada for processing and Ionic LeachTM analysis (ME-MS23). In addition, all soil samples were separately tested for paste pH analysis (OA-ELE07). Ionic Leach samples used a static leaching process using sodium cyanide with a highly sensitive ICP-MS finish capable of sub-ppb detection. The Ionic Leach method aims to detect mineralization through deep overburden coverage. Geochemical anomalies sourced from mineralization often present sharp and high-amplitude signals, which are ideal for drill targeting.
The analysis and interpretation of the soil geochemical data was provided by Vision Geochemistry Ltd. A comprehensive review of the soil descriptions to ensure consistency in the interpretation of the soil data. Due to the heterogeneous overburden cover, the dataset was geochemically levelled using the z-score method. Z-scores are commonly used in statistical analysis to normalize populations of data, and therefore establish meaningful connections between datasets. Geochemical anomalies containing several elements (Figure 1 and Figure 2) have been presented as weighted-sums models, which is a simple multivariate technique to reduce several variables to a single variable.
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 exploration and soil program were planned and supervised by Alexis Paulin Bissonnette. The samples were analyzed by ALS Canada Ltd. using Ionic Leach Method (ME-MS23 and OA-ELE07). 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. Program is designed and supervised by Laurentia Exploration Inc.
Normétal historical Mine and Normetmar:
Summary Report, Normetmar Project, January 1988 by L. Boivin
The Company wishes to caution that historical resources described above are historical. The historic resources are relevant to give a ballpark estimate of the potential on the property. Historical resources should not be relied upon. The key assumptions, parameters and methods used to prepare the historical estimate is not known and thus the difference between the historic estimates and NI 43-101 compliant estimates is also not known. The historical estimates used categories other than the ones set up in sections 1.2 and 1.3 of National Instrument 43-101, Standards of Disclosure for Mineral Projects. A qualified person has not reviewed the historical estimates and has not done sufficient work to classify the historical estimates as current mineral resources and Starr Peak is not treating the historical estimates as current mineral resources under National Instrument 43-101 and CIM Standards for mineral resources and reserves. Further exploration work needs to be done to correctly evaluate these historical resources. Additionally, the methodology of calculation is unknown by the qualified person.
Grab samples are selective by nature and the values reported may not be representative of the mineralized zone.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
On Behalf of the Board of Directors of Starr Peak Mining Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
Starr Peak Mining 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 and base metal deposits and projects in the Americas. The Company is committed to create long term shareholder value through mineral discoveries.
https://www.starrpeakminingltd.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.
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.
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, Starr Peak 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 Mining Ltd.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/21/c5155.html
