Drilling success firms up Tubal Cain

Goldstar Resources has received further encouraging results from in-fill drilling...

  Goldstar Resources has received further encouraging results from in-fill drilling at its 100%-owned Tubal Cain Gold Project in Victoria.Goldstar currently has an aggressive program comprising 16 diamond drill holes for approximately 6,400m in progress at Tubal Cain, with ten holes completed and logged to date. The assay results received for five holes, coupled with geological logging of the completed holes, has further increased the company’s confidence level in the tonnage and grade potential of the top 500m of the Tubal Cain mineralised zone.Goldstar said a total of 11 visible gold hits have been recorded in four of the last seven new holes completed. Most are within the top 300m of the deposit and result in an overall total of 25 visible gold hits recorded in drilling completed by the company at Tubal Cain.Assay results have now been received for five holes, with best intercepts including 0.5m @ 12.28g/t Au, 0.3m @ 14.47g/t, 0.4m @ 7.47g/t Au, and 0.7m @ 5.07g/t Au. Goldstar said the company had designed this phase of drilling for two specific purposes. Firstly to in-fill the top 500m of the deposit to an average drill spacing of 50m x 50m, and secondly to gather further information on a possible Bulk Sample location that was defined in late 2007.The results of the in-fill drilling received to date are considered to be highly encouraging, providing significant additional momentum to the company’s exploration program at Tubal Cain and reinforcing the potential of the deposit as a significant future production centre within the Walhalla Field.Goldstar is now pursuing an accelerated drilling program at Tubal Cain. Two diamond rigs are currently fully committed and operational, a third is on the way and the company is in the final stage of negotiations to secure a fourth diamond drill rig.