Star Gold Initiates Exploration Drilling at Longstreet Project, Nevada
POST FALLS, Idaho, Oct. 26, 2011 /PRNewswire/ -- Star Gold Corp. (OTC Markets: SRGZ) is pleased to announce commencement of drilling at its Longstreet property located 25 miles southeast of the Round Mountain mine in south-central Nevada. Initially, 12 infill and expansion holes will be drilled at Main, where an independent geologist's report prepared by Paul D. Noland, PG identified a mineralized material estimate of 3,500,000 short tons at an average grade of 0.053 oz/ton gold equivalent. "Mineralized material" as used in this press release, although permissible under the SEC's Industry Guide 7, does not indicate "reserves" by SEC standards. The Company cannot be certain that any part of the mineralized material at Longstreet will ever be confirmed or converted into SEC Industry Guide 7 complaint "reserves." Investors are cautioned not to assume that all or any part of the mineralized material will ever be confirmed or converted into reserves or that mineralized material can be economically or legally extracted.
Drilling will be completed using a Reverse Circulation (RC) rig drilling angle holes across the steeply dipping vein sets. The target is a Round Mountain style open pit heap leach gold/silver deposit. Additional drilling at Main and at the North Target is scheduled for later this year or in the spring of 2012. Mapping and geochemical sampling at North indicates a target very similar to Main which Star has not yet drill tested. A helicopter assisted drilling program to test the Cyprus Ridge target is planned for the summer of 2012. Cyprus Ridge is a Midas style high grade gold vein target. Drilling will test for a "boiling zone" at depth. Surface mapping and geochemical sampling at Cyprus show vein widths up to 15 feet thick and gold values up to 0.33 oz/ton but average values are less than 0.03 oz/ton gold. A map showing the various targets at Longstreet can be found on the company's website www.stargoldcorp.com.
About Star Gold Corp.
Star Gold Corp. is a gold exploration company with the purpose of acquiring, evaluating and developing 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 Project and Longstreet Project, in Nevada, USA. For more information please visit www.stargoldcorp.com.
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."
SOURCE Star Gold Corp.