TORONTO, Sept. 23 /CNW/ - Uranium Star Corp. (OTCBB:URST) (FRANKFURT:YE5)
is very pleased to report that there are strong indications of gold
mineralization on both the Three Horses and the Ianapera Properties, located
in southern Madagascar.
As part of its agreement for the Three Horses massive sulphide property
in southern Madagascar, Uranium Star also acquired the 5-claim (30+km(2))
Ianapera Property located 15 km to the north.
While exploring on the northern property, the exploration team came
across local villagers panning gold from a secondary stream. Coarse gold
flakes up to 2-3mm were noted. As a consequence, a stream sediment-sampling
program has been completed in order to attempt to locate a bedrock source for
Uranium Star's airborne geophysical survey covered a portion of the
northern Ianapera claims, and a number of airborne EM conductors of
significance have been defined close to the alluvial gold occurrence. It is
interesting to note that these conductors exhibit varying characteristics and
any one of them may be caused by gold hosting mineralization.
On the Three Horses Property the emphasis has been on locating massive
sulphide mineralization. However, the results of the property wide stream
sediment survey coupled with the airborne geophysical survey have produced
22 individual gold target areas that deserve further follow up work on the
ground. One stream sediment sample returned 2.99 g/t Au which is proximal to
several AEM responses making this a priority target. Several other gold in
stream sediment anomalies (another sample returned 1.56g/t Au) are interpreted
to be related to a fold structure that has multiple AEM conductors associated
with it. The AEM conductors are associated with a complex magnetic pattern
making this an area of priority for further follow up work looking for gold
On a more regional basis the exploration team has noted local villages
panning gold from streams and recovering gold from outcrop areas. It is
believed that the gold is associated with quartz in graphitic horizons.
Uranium Star is focusing its attention in this area on airborne EM conductors
that are suspected to be caused by graphite.
Immediately south of the town of Fotadrevo, where Uranium Star have built
their base camp, it was discovered that locals had established an extensive
area of pits and trenches and are extracting by panning gold flakes and
nuggets up to 2mm in diameter. The Company has established an extensive grid
in the area and has defined an attractive geophysical target over a strike
length of 700 meters, and a width of 80 meters. In the past month, local
villagers have begun excavating the area and have exposed an isoclinally
folded shear zone. When panned, the villagers are regularly obtaining gold
while panning from the alluvium above the shear zone. It is difficult to
quantify how much gold they have been extracting from the shear zone itself,
but villagers report wire gold is being taken from the ground at this
The Company is pleasantly surprised as to the unexpected gold potential
of its properties, however, an opportunity has presented itself and the
Company will assess this new avenue as it moves forward with its exploration
efforts in Madagascar. Uranium Star will ultimately drill a number of these
gold targets as part of its overall exploration program to attempt to define a
mineral deposit of economic consequence.
Bill Nielsen, P.Geo., Director, is the designated qualified person for
the technical information contained in this press release.
Craig Scherba, P.Geo., of Taiga Consultants is the Exploration Manager
and is supervising Uranium Star's exploration activities on the Three Horses,
Madagascar Property and the Sagar Property.
WARNING: The statements made in this news release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially from
expectations and projections set out herein.
For further information:
For further information: please visit our website at www.uraniumstar.com
or contact: Brent Nykoliation, Director of Business Development, Uranium Star
Corp., Toll Free: (800) 818-5442 or (416) 364-4911, Email:
email@example.com; or J.A. Kirk McKinnon, President and Chief
Executive Officer; Richard Schler, Vice President & CFO