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Located in central Newfoundland, 20 km northeast of, and within the same geological group that hosts the former producing Buchans mine, discovery holes drilled by Phelps Dodge in 1999 and 2000 produced some of the highest grade base and precious metal intersections ever achieved in the area outside the Buchans mine.
Canstar has the option to earn from from Phelps Dodge Corp. (now Freeport McMoran Corporation), a 50% interest in the Mary March zinc-lead-copper-silver-gold prospect in central Newfoundland. Canstar has first right-of-refusal to acquire the remaining 50% interest from Xstrata (formerly Noranda).
Discovery holes drilled by Phelps Dodge in 1999 and 2000 produced some of the highest grade base and precious metal intersections ever achieved in the area outside the Buchans mine. The Buchans mine produced 16.2 million tonnes averaging 14.50 per cent Zn, 7.56 per cent Pb, 1.33 per cent Cu, 126 grams per tonne (g/t) Ag and 1.37 g/t Au over its 56-year mine life. By comparison, the discovery holes drilled at Mary March by Phelps ran 10.33% Zn, 118.1g/t Ag, 1.62% Pb, 4.1 g/t Au, 0.66% Cu over 9.23 m; 16.8% Zn, 660 g/t Ag, 12.2 g/t Au, 5.44% Pb, 0.18% Cu over 0.91m; and 3.02% Zn, 1.08% Pb, 72.4 g/t Ag, 0.13% Cu, over 20.6m.
The core portion of the Mary March property was subject to litigation between the Newfoundland and Labrador Mineral Recorders' office and Vinland Resources, a private company controlled by Albert Chislett. After a long history of hearings, ownership of the Mary March property was finally resolved in November 2011. Clear title of the Mary March property was restored to Canstar and a comprehensive exploration program is being implemented, with field work commencing in early 2012.
MARY MARCH EXTENSION
In April 2009, the Company acquired by staking, 100 % interest in mineral claims totaling 850 hectares adjoining its Mary March property. The new claims are located to the north and east of the property and may cover a portion of the eastward extension of the volcanic stratigraphy which hosts the high grade base and precious metals deposits. The property is considered to have strong potential for hosting similar high-grade base and precious metal VMS mineralization.
Maps
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