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Miminska
Wholly owned by Canstar, the Miminiska Lake gold property located east of Pickle Lake in northwestern Ontario hosts high grade gold and visible gold in a geological setting directly analogous to Placer Dome's plus 200,000 ounce per year Musselwhite Mine in the same general area. Soil sampling in 2003 identified a large gold anomaly on the property. A seven-hole drill program to test geophysical targets was completed on the property in March 2005, with disappointing results. The company is hoping to interest other companies in a joint venture for the next phase of exploration.
Tahoe and Shrimp Lake Properties
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Staked in January 2002, Canstar's wholly-owned Tahoe and Shrimp Lake properties cover a prospective gold and base metal target within intensely altered volcanic and iron formation in the southern portion of the North Spirit Lake greenstone belt, about 170 kms north northeast of Red Lake, Ontario. AeroTEM helicopter borne electromagnetic and magnetic surveys were completed in late 2005. Several conductors were identified and a number of drill holes were put down to test selected anomalies, no mineralization of economic significance was encountered.
McFauld's Lake
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Canstar's McFauld's Lake 1 and 3 properties in northwestern Ontario are located close to the heart of what is arguably the best base metals 'area play' in Canada at the present time. Currently under option to United Reef Limited (TSX-V: URP), the property is contiguous to the southeast with the Spider Resources/KWG Resources property where high grade zinc-copper-silver-lead-gold mineralization has been discovered in ongoing drilling since 2003. This includes an 18.8 m intersection of 8.02% copper in hole McF-04-57. In addition, the area is receiving significant attention with the recent discovery of high-grade-platinum group metal mineralization by Noront Resources. Drill intersections of up to 6.25% nickel, 2.75% copper, 1.85 g/t platinum, 10.23 g/t palladium, 3.0 g/t gold and 10.3 g/t silver over 46.6 meters have been reported. A recent drill program conducted by United Reef failed to explain the source of the anomalies.
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