Eagle Star (V.EGE) announces drill results, stocks nudge up

Stockhouse Editorial
0 Comments| January 8, 2014

Eagle Star Minerals Corp. (TSX: V.EGE, Stock Forum) announced additional lab results from the remainder of the 2013 Santiago target resource delineation drill program.

Santiago is a former Vale owned property that borders the MbAC Fertilizers "Canabrava" discovery and one of nine targets identified by Eagle Star thus far to host high-grade mineralization at surface within the Bomfim project.

According to the Eagle Star press release, drill hole STW-RC-08 intersected from surface, 19 metres at 16.48% P2O5 which includes 11metres of 21.72% P2O5 and five metres grading 26.08% P2O5. The mineralization in several holes remains open at depth. 

The reverse circulation drilling program for the Santiago target is scheduled for a total of 160 holes. The results of all 23 drill holes completed in 2013 at the Santiago target have now been released.

Eagle Star is focused on the acquisition, exploration and development of agro-mineral properties in Brazil.

On Wednesday, Eagle Star rose 5.4% and was trading at $0.195 a share. The company had a market cap of $17 million, based on 87.2 million shares outstanding.

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