CORRECTION FROM SOURCE: Eagle Star Announces Significant Resource Delineation Drilling Results at PZE-South Target, Bomfim Hill
July 9, 2013 – Vancouver, British Columbia (Source: Marketwired) — Eagle Star Minerals Corp. (TSX VENTURE:EGE)(PINKSHEETS:ELGSF)(FRANKFURT:E6R) (“Eagle Star” or “the Company”) would like to make an amendment to the previous news released this morning at 7:14am PST July 9th, 2013. The original text read as follows: “The drilling campaign in PZE South focused on an area of approximately 2,500 sq. meters which was systematically covered with reverse circulation (“RC”) drill holes commencing at a nominal spacing of 50 x 50 meters followed by infill drilling in selected areas at 25 x 25 meter spacing.”
In fact the area covered with reverse circulation drilling and for which results have been reported today, extends “250,000 square meters” in size rather then “2,500 square meters” as appears in the original press release.
The Company would like to apologize for this error.
The complete and corrected press release follows:
Eagle Star Minerals Corp. (TSX VENTURE:EGE)(PINKSHEETS:ELGSF)(FRANKFURT:E6R) (“Eagle Star” or “the Company”) is pleased to announce excellent lab results from the resource delineation drill program at the Bomfim Hill PZE-South target (hereby “PZE South”). PZE South – one of eight targets containing high-grade anomalies identified by the Eagle Star team throughout the Bomfim Project so far, has been prioritized for drilling due to limited soil coverage of less than 0.5 meters over the mineralization. The drilling campaign in PZE South focused on an area of approximately 250,000 sq. meters which was systematically covered with reverse circulation (“RC”) drill holes commencing at a nominal spacing of 50 x 50 meters followed by infill drilling in selected areas at 25 x 25 meter spacing. Significant lab results from this area are presented in the following table.
|Hole ID||From (m)||To (m)||(m)||P2O5 (%)||OBS|
All drill holes are vertical. Drilling widths are believed to represent true width of the mineralized zone. Width variation between holes occurs as a result of the shape of the dolomite footwall on which the mineralized zone rests. Drill hole names indicate the position of a hole within a grid by their line number and station number on the line. Lines 4 through 12 are at 50m spacing. Stations along the line are at 50m spacing, except where drill hole names such as RC-L11-1/2 indicate that a hole is located between stations 1 and 2. Chips from reverse circulation drilling are collected in bags for each 1 meter interval. Chips are logged at the drill site and a representative split is taken on site for submission to the analytical laboratory.
Get our daily investorintel update
In addition to drill results, the Company is pleased to announce it has received lab results from 13 pits opened in PZE-South and PZE-North as seen in the following table:
|Pit ID||From (m)||To (m)||Interval (m)||P2O5 (%)|
In all pits, mineralization is still open at depth. The results from pits 8 to 11 suggest the presence of a high-grade mineralized zone in the north similar to that in the south (now confirmed by drilling). This area is scheduled to be systematically drilled by Eagle Star in the coming months.
The Company has previously released field XRF results on all of the above pits except for BF-15 and 16. These results, in addition to maps locating the pits were published in news releases dated 10th December 2012, 18th December 2012, 16th January 2013, 20th February 2013 and 28th March 2013.
“We are thrilled with the outcome of these lab results, as they do not only support the geological model we have developed for PZE South and confirm the existence of high-grade mineralization in this target, but more importantly, they reinforce our confidence in the potential of our other seven targets and the overall value of the Bomfim Project. Upon successful completion of this phase of drilling and with the resource calculation for PZE South now well underway, our team has commenced work at our next target for which we expect to have updates very shortly,” commented Eran Friedlander President and CEO Eagle Star Minerals Corp.
WORK PROGRESS UPDATE
Work completed thus far in addition to the reverse circulation drilling and pit opening at PZE-South includes two trenches (55m), 18 kilometers of geophysics survey (resistivity method – lines spaced 50 by 100m), ground topographic survey using total station, ore type characterization, density measurements of each ore type (currently being conducted), detailed mapping (1:2,500 scale) and 10 geological sections that gather drill hole data and surface information. Input from these sources of geological data are currently being used by Coffey Mining Limited of Belo Horizonte Brazil to calculate a resource at PZE-South as part of the NI 43-101 technical report being prepared under the supervision of John Harrop at Coast Mountain Geological Ltd of Vancouver, British Columbia.
The Company implements industry recognized QAQC methods at the project. The Qualified Person has reviewed the QAQC results and inspected procedures during a previous site visit but has not otherwise verified the data in this news release. Intertek Laboratories (“Intertek”) of Sao Paulo Brazil, was used for analytical work reported in this news release. Intertek is part of an international group of certified (ISO 9001:2008) laboratories recognized in industry for geochemical and agricultural testing. Determination of P2O5 was done by Intertek method XR55L which prepared the sample with a lithium tetraborate fusion followed by XRF analysis. Intertek is independent of the Company. Analytical work on pits was provided by a combination of Intertek and Laboratório de Caracterização Tecnológica (“LCT”) at Escola Pilotécnica da Universidade de São Paulo in Departamento de Engenharia de Minas e de Petróleo. LCT is a professionally operated, research laboratory and is independent of the Company. LCT used a similar analytical method to Intertek with a lithium teraborate fusion followed by XRF analysis.
John Harrop PGeo, FGS, of Coast Mountain Geological, a qualified person under NI 43-101, reviewed and approved the technical disclosures of this press release on behalf of the Company.
ABOUT THE COMPANY
Eagle Star Minerals Corp is a publicly listed company focused on the acquisition, exploration and development of agro-mineral properties in Brazil. Over the past two years, Eagle Star Minerals has strategically grown its presence in Brazil and continues to focus on maximizing shareholder value by acquiring assets located in geological areas known for proven phosphate mineralization, coupled with good logistics in close proximity to agriculture.
The Company’s shares are publicly traded on the TSX Venture Exchange under the symbol EGE, on the OTC Pink Sheets under the symbol ELGSF and on Frankfurt Stock Exchange under the symbol E6R.
On behalf of the Board of Directors
EAGLE STAR MINERALS CORP.
Eran Friedlander, President
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.