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The Slate Bay property is located along the Red Lake "Mine Trend", less than 10 kilometres northwest of Goldcorp's producing Campbell and Red Lake Mines. Previous exploration on the property has intersected thick zones of copper-gold mineralization hosted by breccias and veins. The current program is designed to test the mineralized zones at depth and along strike, as well as a previously untested anomaly to the southwest of the main zone.
Previous drill programs by the Company on the Slate Bay project identified a large copper-gold-silver mineralized skarn system, considered to be the most intense ever encountered in the Red Lake mining camp. Grades of up to 7.2 g/t gold, 5.81% copper and 183 g/t silver were identified within considerably longer sections of lower grade material attaining widths of over 100m. The discovery zone comprises a thick, roughly tabular shaped package of steeply dipping skarn, including a mineralized breccia. The Induced Polarization (IP) anomaly related to the skarn has been traced on surface for over 1 km but tested to date by drilling over just 200m of strike length, and to a vertical depth of 130m. The skarn assemblage remains open in both directions along strike and down-dip. Canstar owns a 75% interest in the Slate Bay project with Luxor Explorations Inc., a privately held company, owning the remaining 25%.
Canstar has recently completed a VTEM airborne geophysical survey over the property and adjacent area. Over 25 electromagnetic conductors, indicated to be caused by bedrock sources, were identified. Additional mineral claims were acquired to cover conductors located outside the original properties.
A comprehensive ground program consisting of location of conductors, geology and geophysics, and prospecting has been initiated.
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