Redstar Gold Corp (TSX-V: RGC) has acquired a new project in Nevada called Seven Devils located 55 miles south of Winnemucca, Nevada. This new project includes 52 staked claims and 16 leased claims. The project is along a regional, north-trending structural zone which contains several important volcanic-hosted gold deposits.
Seven Devils contains widespread volcanic-hosted, epithermal gold mineralization as well as mineralization in underlying sedimentary rocks. Recent preliminary sampling from outcropping volcanic rock returned gold grades from anomalous to as high as 1.88 grams per tonne.
The Seven Devils property is located on the Western Nevada Rift. The gold system lies along a regional, north-trending structural zone which contains several important volcanic-hosted gold deposits north of the project, including the bonanza-grade Sleeper deposit, the Sandman deposits and the Goldbanks deposit.
Historic exploration drilling was completed during the late 1980's and was shallow to an average depth of 350ft. Even though a number of mineralized intervals were encountered with gold values to 2.52 grams per tonne, gold assays were by Atomic Absorption (AA) without fire assay. The AA analysis may have underestimated gold grades where gold is associated with disseminated sulphides.
Outcropping gold mineralization is locally accompanied by disseminated pyrite, and Redstar's outcrop samples adjacent to the historic drill-hole collars have returned higher grades than those intersected in the holes.
Redstar President, Scott Weekens commented on the property acquisition which builds on the geological database it bought from AngloGold Ashanti (NYSE: AU).
“The Seven Devils project again attests to the quality of the geological database we acquired from AngloGold Ashanti and brings the total number of projects acquired to 11. Work by Redstar and proprietary data from our data base have outlined an out cropping gold system within a productive gold trend.”