Star Gold Corp - SRGZ.OB
8/24/2010
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Post Falls, ID (Marketwire)--Star Gold Corp. (OTC.BB:SRGZ-News) (the “Company”) is pleased to announce that a drill is on site and drilling has begun at its wholly owned Excalibur project in Mineral County, Nevada (“Excalibur” or the “Property”). The U.S. Bureau of Land Management has granted a permit to drill as many as five sites on the Property. These sites were chosen to test fault zones with clay and quartz alteration of hornblende rich diorite sills intruding a package of sedimentary rocks consisting of greywacke and chert. The fault zones have been excavated in the past by prospectors searching for gold and silver. Select rock samples collected from waste piles around the historic diggings during the Company’s 2009 exploration program returned values of less than 0.01 g/t to 33 g/t gold and less than 1 g/t to 431 g/t silver.
Proposed holes have been located to test the potential at depth of two distinct areas defined by above normal concentrations of gold and silver. The central target is an extension of the historic Moho Vein system. The Moho Vein had reported production of $75,000 at a 1910 gold price. The production is reported to have occurred between 1903 and 1910 (W. O. Vanderburg, 1937 U.S. Bureau of Mines Information Circular 6941 pp 40-42). The extension of the vein has had no apparent drilling and represents an untested target. Gold values collected from the vicinity of the drill holes assayed from 0.3 to 7.2 g/t.
A second target on the south end of the property exhibits secondary silicification binding broken chert fragments. Anomalous gold values ranging from 0.1 to 3.0 g/t gold have been obtained from surface outcrops of broken and silicified chert and historic pits dug on clay zones occurring along faults. The three remaining permitted holes will test a portion of the apparent area of historic workings and outcrops containing gold minerals.
Edward Brennan, Consulting Geologist, Richard West, Geologist “Exploration of the Marietta Mines Region in west-central Nevada for Gold and Copper” NI 43-101 Technical Report prepared for Azteca Gold Corp. http://www.azteca-au.com/projects/nevada/marietta/
Shareholders and interested parties are invited to visit the company's website at www.stargoldcorp.com or contact the company at 1-800-467-2943 for further information.
About Star Gold Corp.
Star Gold Corp. is a gold and base metal exploration company with the purpose of evaluating, developing and acquiring gold projects of merit with a focus on the United States, Canada and Mexico. At present, Star Gold is focused on the exploration and development of its Excalibur Gold Project, in Nevada, USA.
Star Gold Corp. has compiled a management team that has the knowledge, experience and motivation to find quality properties at different stages of development in order to fulfill their corporate mission.
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Star Gold Corp (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."