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 is the majority JV partner in the Mary March and Nancy APril zinc-lead-copper-silver-gold prospects in central Newfoundland. Canstar has first right-of-refusal to acquire the remaining interest from its JV partner, Glencore (formerly Xstrata).
Discovery holes drilled at Mary March 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 drill program completed in January 2013 yielded sulphide mineralization containing significant values in copper, lead, zinc, gold, and silver was encountered in 4 of the 8 holes completed, but values were generally lower and over lesser core lengths than in the original drill program conducted over ten years ago.
Subsequent exploration programs in 2014 have confirnmed the mineralized zone and have identified numerous additional targets on the Mary March and Nancy April properties. The Company continues to believe that these properties have great potential for economic deposits, and merit further exploration.
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.