April 12, 2012 - VANCOUVER, Canada -Urastar Gold Corp. (the "Company") (TSX-V:URS) (FSE: 3U3) (OTCQX: URNRF) announces that, further to its news release of March 8, 2012, drilling is underway at the El Antimonio exploration property located in Sonora State, Mexico. A total of approximately 10,000 meters in 40 reverse circulation holes is planned for completion in Q2 2012. Layne Drilling of Mexico has been contracted for this program.
The El Antimonio property is comprised of approximately 12,500 hectares and is located 40 km west of Caborca, Sonora, within the Mojave-Sonora Megashear gold belt. The property is situated 50km south of the Fresnillo PLC/Newmont joint venture La Herradura heap leach gold mine which produced 185,000 ounces of gold in 2011.
The exploration target at El Antimonio is a bulk mineable gold deposit centered on previously mined antimony-quartz veins. To date, a total of over 350 rock samples were collected as channel and grab samples of outcrops and mine dumps. Of these, 42 retuned values greater than 0.5 grams gold per tonne (ranging from 0.5 to more than 10 grams gold per tonne), and 47 samples returned gold values between 0.25 and 0.5 grams gold per tonne. These results confirm the presence of significant gold mineralization locally. The rock samples were submitted to ALS Minerals in Hermosillo for preparation. Sample analysis was done at ALS Minerals in North Vancouver, Canada for gold by the Fire Assay method on 30 gram subsamples with AAS finish. Quality control included insertion of standard and blank certified reference material at a frequency of 5% each.
Based on geological mapping and the rock geochemical results, 6 main areas and 10 minor zones with anomalous gold values or historic mine workings were prioritized for drilling.
The gold potential at El Antimonio is considered significant in view of several factors, including:
-Mineralized veins are present over a large area.
-Previous mining activity, which stopped at the water table.
-Widespread fracturing and extensive alteration of sedimentary rocks which suggests potential for disseminated style mineralization.
-Presence of gold geochemical anomalies in altered rock
-Extensive oxidation suggesting possibilities for heap leach oxide gold.
Dr. Matt Ball, P.Geo., is a Qualified Person pursuant to National Instrument 43-101 who has reviewed the technical information contained in this news release.
Adrian Robertson, President & CEO Tel: 604-682-2928
Matthew Harrington, Investor Relations [email protected] Tel: 613-882-7467
THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release includes certain statements that express management's expectation or estimates of future performance and may be deemed "forward-looking statements". These forward-looking statements include plans, estimates, forecasts and statements as to management's expectations regarding exploration. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially. For these reasons shareholders should not place undue reliance on such forward-looking information.
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