Mar 08, 2012 (ACCESSWIRE-TNW via COMTEX) — March 8, 2012 – VANCOUVER, Canada – Urastar Gold Corp. (the “Company”) (otcqx:URNRF) is pleased to announce that it has entered into a drilling contract with Layne Drilling de Mexico for Reverse Circulation drilling at the El Antimonio exploration property located in Sonora State, Mexico. A total of approximately 10,000 meters in 40 holes is planned with an anticipated start date of March 12, 2012.
The El Antimonio property is comprised of approximately 12,500 hectares in 7 claims and is located 40 km west of Caborca, Sonora, in the heart of the Mojave-Sonora Megashear. El Antimonio is located 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 is a bulk mineable gold deposit centered on previously mined veins and new areas discovered through recent field work. 6 main areas and 10 minor zones with gold values or mining workings have been defined.
The potential at El Antimonio is considered significant in view of several factors:
-The presence of extensive zones of alteration and fracturing.
-The development of mineralized veins over a large area.
-Previous mining activity which stopped at the water table.
-Widespread fracturing and alteration of sedimentary rocks which suggests potential for disseminated-style mineralization.
-Extensive oxidation suggesting possibilities for heap leach oxide gold.
Michael Collins, P.Geo., is a Qualified Person pursuant to National Instrument 43-101 who has reviewed the technical information contained in this news release.
La Juliana – Mulatos Area Drilling Update
Further to the news release dated January 18, 2012, the Company wishes to announce that stage 1 reverse circulation drilling at the La Juliana property is ongoing. The La Juliana property is located 6km west of Alamos Gold’s Mulatos Gold Mine.
About Urastar Gold Corp.
Urastar Gold Corp is a mining exploration and development company focusing on gold exploration in Sonora, Mexico and Nevada, USA targeting areas containing former producing properties. For more information, please visit www.Urastargold.com .
Contacts:
Adrian Robertson, President & CEO Tel: 604-682-2928 Matthew Harrington, Investor Relations 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.
