Polar Star completes initial diamond drill reconnaissance program at Montezuma
/NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, Feb. 14, 2014 /CNW/ - Polar Star Mining Corporation (TSX:PSR) ("Polar Star" or the "Company") is pleased to announce the results of its reconnaissance drilling program at the Melisa target located in the northeastern sector of the Montezuma Project.
The Company completed a 3,189 metre diamond drill program, designed to
test various surface and geophysical anomalies delineated by the
mapping, trenching and geophysical programs.
The Company drilled 11 holes in the various target areas and in general
the holes confirmed surface trench geology. Holes 8 to 11 drilled
within the Mina Negra structural corridor intersected a high
sulphidation zone typical of the peripheral zones that typically
surrounds a copper/gold porphyry system.
MM11 intersected a heavily brecciated sequence from surface to 638
metres, similar in nature to the breccias systems found within
operating mines in the Antofagasta and Calama district.
- A concurrent ground geophysics EM program identified further numerous significant geophysical targets which will be tested in due course.
Colin Bird, Chief Executive Officer of Polar Star Mining said: "The Montezuma area is large and highly prospective. We concentrated our initial activities around the northern Melisa zone since veining and visual evidence of copper mineralization was in abundance. We were also in possession of previously generated geophysics, which to some degree targeted our drilling. The outcome of the geophysics and drilling program were highly encouraging since we generated new targets and identified structures and geology which support the potential for further large porphyry systems within the highly copper productive Calama district. The drilling program attracted the interest of a number of mining companies and we recently announced a joint venture with Newmont Ventures Limited. We look forward to their expertise and resources in identifying the most prospective areas within Montezuma and further positive exploration results."
Drill Hole MM11:
The assay results show that this hole encountered mineralization over much of its length. Although the copper values were low, the gold values from surface to 365 metres were highly anomalous. The hole commenced in high gold and arsenic values, typical of the high sulphidation zone above copper/gold porphyries, with the first 139.5 metres grading at 0.46 g/t gold; including 4.5 metres grading at 1.76 g/t gold, between 20.2 metres to 24.7 metres.
The visual appearance of the core in this hole is typical of alteration patterns evident in most large porphyry systems distributed around the world.
Sampling and Laboratory
HQ and NQ size cores were split at site and sent to ALS Chemix a fully accredited and certified laboratory service. Samples were prepared at the ALS Chemix facility in Chile and assayed at the ALS Chemix laboratory in Lima Peru.
Colin Bird, a qualified person under NI 43-101, has reviewed and approved the technical information contained in this press release.
About Polar Star Mining Corporation
Polar Star Mining Corporation ("PSR") is a TSX listed exploration and development company with a focus on building shareholder value in Chile. The Company's strategy is to advance its large portfolio of world class projects in Chile through joint ventures.
SOURCE Polar Star Mining Corporation
Image with caption: "Drill site map (CNW Group/Polar Star Mining Corporation)". Image available at: http://photos.newswire.ca/images/download/20140214_C4367_PHOTO_EN_36765.jpg
Image with caption: "Location map (CNW Group/Polar Star Mining Corporation)". Image available at: http://photos.newswire.ca/images/download/20140214_C4367_PHOTO_EN_36766.jpg
For further information:
Chief Executive Officer
Polar Star Mining Corporation
Telephone: +44 77 1789 4394
For more information about Polar Star Mining Corporation, please visit: www.polarstarmining.com