TriStar Gold - Drilling Started on Major Exploration Program
Scottsdale, October 1, 2020 - TriStar Gold Inc. (TSXV: TSG) (OTCQX: TSGZF) (the Company or TriStar) is pleased to announce the start of a major exploration drilling program at its Castelo de Sonhos gold project. This drilling is principally designed to test new exploration targets and to expand the known mineral resource at Castelo de Sonhos.
"The drilling is now up and running in this program, and our whole team is excited about it," says Nick Appleyard, TriStar's President and CEO. "As of today, we have two drill rigs at site drilling with a third rig arriving in a couple of weeks, meaning it's going to be a very busy fourth quarter for us. We anticipate reporting results from the initial holes starting in November."
Figure 1 Image showing core rig set up and drilling at the north end of Esperança South
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Initial Targets
The first three to five core drill holes will be located in the northern end of Esperança South, targeting extensions of promising results from previous drilling, where the rugged terrain limits access of the larger RC rig. As soon as these holes are complete, the core rig will target the CDS Deeps target of remobilized gold following the intrusion by younger granitic rocks.
The first six RC drill holes will be targeting shallow, previously untested conglomerate horizons in the valley to the east of Esperança South. If these holes successfully intersect conglomerate-hosted gold in the valley, there is scope for a lot more upside drilling in this area. Following this, the RC rig will be prioritizing the completion of requirements for the prefeasibility study drilling, which is scheduled for completion it early next year.
Figure 2 Plan looking north showing the PEA pits and the initial portion of the overall drilling plan. Light blue circles are drill holes targeting shallow conglomerate-hosted gold, dark blue circles are targeting CDS Deeps and green circles are remaining in-fill drilling.
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Qualified Person
R. Mohan Srivastava (P.Geo.), Vice President of TriStar, is the Qualified Person who has reviewed the technical information contained in this news release, including data verification, and has approved its disclosure.
About TriStar:
TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have the potential to become significant producing mines. The Company's current flagship property is Castelo de Sonhos in Pará State, Brazil. The Company's shares trade on the TSX Venture Exchange under the symbol TSG and on the OTCQX under the symbol TSGZF. Further information is available at www.tristargold.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF THE COMPANY:
Nick Appleyard
President and CEO
For further information, please contact:
TriStar Gold Inc.
Nick Appleyard
President and CEO
480-794-1244
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Statements
Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation which are not historical facts and are made pursuant to the "safe harbour" provisions under the United States Private Securities Litigation Reform Act of 1995. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward looking statements in this press release include statements about the Company's plans to complete a pre-feasibility study on the CDS project, the results of further in-fill drilling on the CDS property, the ability of the Company to complete the current in-fill drilling program, the results of further exploration target identification and the anticipated effects of the COVID-19 virus. Such forward-looking statements are based upon the Company's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause the Company's plans to change include changes in demand for and price of gold and other commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments in Brazil; effects of the COVID-19 virus on all aspects of the Company's business, the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of the Company's projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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