202616 releases
Canstar Resources Nears Completion of Phase 1 Till Sampling at its 100%-Owned Skellefte VMS Project in Northern Sweden
Phase 1 till geochemistry sampling at the 100%-owned Skellefte VMS Project in northern Sweden was approximately 95 percent complete as at October 6, 2026, with the roughly 2,150-sample program covering about 31,000 hectares across three exploration permits on a 400-metre grid since August 19, 2026. Samples will go to Bureau Veritas in Vancouver for multi-element ICP-MS/ICP-ES analysis. Canstar also extended 10,357,369 warrants at $0.07 from September 25, 2026 to December 31, 2026.
Drill resultsCanstar Resources Enters into C$500,000 Director-Related Bridge Facility Secured Solely by Churchill Shares; Existing Bridge Note Repaid and Cancelled
Canstar Resources has signed definitive agreements dated September 14, 2026 for a C$500,000 revolving bridge credit facility with BQS Systematic Equities LP, an entity controlled by director J. Paul Austin III. The facility matures nine months from the initial advance, which was made September 16, 2026, bears 12% annual interest payable in Churchill Resources shares, and is secured solely by the 15,834,097 CRI Shares held by Canstar. The initial advance repaid and cancelled the US$241,000 outstanding promissory note.
FinancingCanstar Announces Proposed Extension of Incentive Warrants
The expiry date of 10,357,369 common share purchase warrants is to be extended from September 25, 2026 to December 31, 2026, subject to final TSX Venture Exchange acceptance, holder agreement and securities law compliance. The warrants, issued September 25, 2025 under the early warrant exercise incentive program, carry an exercise price of $0.07, unchanged, with acceleration if the share price closes at or above $0.10 for ten consecutive trading days. Shares closed at $0.055 on September 10, 2026; no warrants are insider-held. Proceeds would fund general working capital.
CorporateCanstar Resources Intersects 15.6 Metres of Massive Sulphide Grading 2.3% CuEq at Mary March, Including 9.75 Metres at 3.3% CuEq
Drill hole MM-26-42 at the Mary March Project in Newfoundland's Buchans district returned 15.6 m of massive sulphide grading 2.3% CuEq from 467.4 m, including 9.75 m at 3.3% CuEq and 5.0 m at 3.9% CuEq. All four holes of the 2,756 m Phase 1 program intersected mineralization, with assays pending for three holes through September. Glencore's legacy joint-venture interest converted to a 2% NSR royalty, and a fall drill campaign is targeted to begin in October.
Drill resultsCanstar Resources Extends Director-Related Bridge Note and Increases Aggregate Principal Cap to C$500,000
The maturity date of a US$171,000 unsecured, non-convertible, 0% promissory note held by BQS Systematic Equities LP, an entity controlled by director J. Paul Austin III, has been extended from August 14, 2026 to September 16, 2026 under an amending agreement dated August 13, 2026. The amendment allows further advances at BQS's discretion up to an aggregate C$500,000 equivalent; BQS advanced an additional US$70,000 on August 14, 2026, bringing principal outstanding to US$241,000. The note would be repaid from the initial advance under Canstar's previously announced credit facility.
FinancingCanstar Resources Receives $2.0 Million VMSC Advance, Bringing Total VMSC Funding to $4.0 Million to Advance Mary March Drilling
An additional $2.0 million has been received from VMS Mining Corporation under an amended funding note accepted by the TSXV on July 17, 2026, accelerating part of the $4.0 million Phase 2 earn-in at the Buchans and Mary March projects in Central Newfoundland and bringing VMSC funding to $3.5 million in 2026 and $4.0 million to date. Canstar also intends to establish a credit facility of up to $500,000 at 12% interest, maturing nine months from closing, secured by its 15,834,097 Churchill Resources shares and provided by an entity controlled by director J. Paul Austin III.
FinancingCanstar Resources Intersects Potential VMS Feeder Zone¹ at Mary March — ~118 m of Copper- and Zinc-Bearing Stringer and Disseminated Mineralization Within Intervals Totalling ~270 m of Altered Rhyolite
The first hole of the 2026 drill program at the Mary March VMS project in the Buchans district of central Newfoundland, MM-26-41, intersected intervals totalling approximately 271 metres of altered, sulphide-bearing rhyolite from 390.6 metres downhole to an interpreted mineralized basal contact at 710.6 metres, with the strongest copper- and zinc-bearing stringer development over the uppermost roughly 118 metres. Mineral identifications are visual and portable-XRF based; assays are expected in about eight weeks. Hole MM-26-42 has begun, collared about 100 metres southwest.
Drill resultsCanstar Resources Launches First Mary March Drill Program Since 2019 as Earn-In Partner VMSC Increases Phase 1 Investment to C$2.0 Million
An additional C$500,000 has been received from joint venture partner VMS Mining Corporation under its Phase 1 Option, bringing total Phase 1 funding to C$2.0 million and entitling VMSC to a further 5% indirect interest in the project-level vehicle, raising its Phase 1 indirect interest from 10% to 15% and maximum potential interest to 65% for aggregate expenditures of C$12 million. Drilling has commenced at the Mary March VMS Project in Newfoundland, the first since 2019, with five holes planned against targets from a new geological model.
Drill resultsCanstar Resources Executes Definitive Agreement to Acquire Northern Skellefte (Sweden) VMS Project, Expands Land Package to Approximately 68,000 Hectares
A definitive asset purchase agreement dated June 1, 2026 has been executed with 1478078 B.C. Ltd. (Lithological Opportunities) to acquire 100% of three exploration permits covering roughly 31,000 hectares in Sweden's northern Skellefte VMS district, for C$50,000 cash, 15,000,000 shares at closing, C$100,000 within 12 months, and a 2.5% NSR with buy-down rights; closing is subject to TSXV acceptance. Concurrent applications for approximately 37,000 additional hectares bring the package to about 68,000 hectares. A Phase 1 till geochemistry program of roughly 2,150 samples is planned for July–August 2026.
Acquisition
202516 releases
Canstar Concludes 2025 Field Season, Reports Year-in-Review Milestones, and Advances Winter Technical Program Toward 2026 Drilling
Canstar Resources has concluded its 2025 Newfoundland field season and begun a Winter 2025/2026 technical program of data integration, 3D modelling and drill target refinement, aiming to start exploration drilling at the beginning of the 2026 season, subject to permitting and final program design. The 2025 Mary March trenching program generated 130 samples submitted for assay, with early bedrock pXRF spot readings up to ~4.28% Cu and zinc up to ~31.57%. The Board also approved 2,033,000 incentive stock options at $0.065 for five years.
CorporateCanstar Expands Land Package, Advances Collaboration on AI-Enhanced Exploration at Mary March
Canstar Resources has acquired an additional 675 ha of land tied to its previously announced $11.5M exploration joint venture with VMS Mining Corporation at the Mary March project in central Newfoundland's Buchans VMS district, accelerating completion of TSX-V-approved option agreements covering 647 ha for $71,000 cash and 350,000 shares. Its June 2025 letter of intent with Terra AI has been extended while a definitive agreement is developed, with machine-learning targeting planned ahead of 2026 Phase 1 drilling. The Company also granted 500,000 stock options at $0.05.
NewsCanstar Closes Oversubscribed Hard Dollar Financing, Strengthens Balance Sheet Ahead of 2026 Exploration Program
A non-brokered private placement first announced September 23, 2025 has closed for gross proceeds of $1,169,970.54, comprising 17,738,008 non-flow-through units at $0.065 ($1,152,970.54) and 200,000 flow-through units at $0.085 ($17,000), with whole warrants exercisable at $0.10 for 36 months (NFT) and 12 months (FT). Canstar paid finder's fees of $56,940 and issued 861,000 finder's warrants; the hold period expires March 1, 2026. Proceeds will fund exploration at the Buchans, Mary March and Golden Baie projects in Newfoundland, plus working capital. An early warrant exercise incentive program has added $517,868 since June 2025.
FinancingCanstar Trenching Reveals up to 5% Copper, +30% Zinc in Early Bedrock Spot Analysis, Reveals Semi-Massive Sulphide in Footwall Mineralization
Trenching at the Mary March project in Newfoundland's Buchans district exposed more than 20 metres of footwall mineralization containing semi-massive pyrite-sphalerite-galena-chalcopyrite lenses in two trenches 125 m apart, with portable XRF spot readings up to +30% zinc, 3% lead and 4% copper; one sample read 16.9% to 31.57% zinc and 0.17% to 3.08% lead, another 0.81% to 4.28% copper. The 130 samples collected have been sent for assay and whole rock geochemistry. Canstar anticipates a first-phase drill program in the 2026 exploration season.
Drill resultsCanstar Completes Early Warrant Exercise Incentive Program with 100% Participation
All 10,357,369 outstanding warrants were exercised under Canstar Resources' early warrant exercise incentive program, issuing 10,357,369 common shares for gross proceeds of $517,868; lifetime exercise of all 26,665,500 warrants issued in January 2024 has generated $1,333,275. Participants also received 10,357,369 incentive warrants exercisable at $0.07 for 12 months, subject to acceleration if the shares close at or above $0.10 for ten consecutive trading days. Proceeds will fund general working capital, subject to final TSXV acceptance.
FinancingCanstar Financing Surpasses $1M in Orders on First Day, Transitions to New Web Domain/Email Addresses to Resolve Legacy Domain Issues
Firm orders of over $1 million have been received for the hard-dollar portion of the $2 million non-brokered private placement announced September 23, 2025, within one day of launch; Canstar may allocate the full $2 million to hard-dollar units, with flow-through allocations considered case by case. Terms are unchanged: NFT units at $0.065 with a full warrant at $0.10 for 36 months, FT units at $0.085 with a half warrant at $0.10 for 12 months. Canstar also moved to a new domain, canstarmining.com, and new email addresses after a technical issue with its legacy domain.
FinancingCanstar Announces Non-Brokered Private Placement
A non-brokered private placement for gross proceeds of up to $2,000,000 has been launched, comprising non-flow-through units at $0.065 (one common share plus one warrant exercisable at $0.10 for 36 months) and flow-through units at $0.085 (one flow-through share plus one-half warrant exercisable at $0.10 for 12 months). Flow-through proceeds will fund Canadian exploration expenses in Newfoundland, incurred on or before December 31, 2026 and renounced effective no later than December 31, 2025, with other proceeds for the Buchans, Mary March and Golden Baie projects and general corporate purposes.
FinancingCanstar Commences Trench Program at Mary March, Multiple Targets Include New 1.2 km IP Chargeability Trend; Reports >$1M in Warrants Exercised, Expanded Land Package and Team
A trenching program is underway at the Mary March project in central Newfoundland, targeting an untested ~1.2 km IP chargeability anomaly located 550 metres north of the historic discovery area; 11 trenches totalling ~860 m have been flagged, with 6 fully excavated and work due to finish by end of September. Float samples in the trench corridor read up to 4% copper by pXRF. Two option agreements add 625 ha, and warrant exercises have totalled $1,092,500.
Drill resultsCanstar Announces Warrant Exercise Incentive Program
A warrant exercise incentive program covers 10,357,369 outstanding warrants exercisable at $0.05 per share until January 23, 2026, issued under a private placement that closed January 23, 2024. Holders exercising during the incentive period from August 26, 2025 to 4:00 p.m. (PDT) on September 25, 2025 will receive one incentive warrant per warrant exercised, exercisable at $0.07 for 12 months. Canstar may accelerate expiry if shares close at $0.10 or more for ten consecutive trading days. TSXV approval is required.
FinancingCanstar and VMS Mining Secure Key Permits, Advance Structural Mapping and Core Logging at Mary March VMS Project, Laying Foundation for Future Drill Program
A historical core mapping and relogging program led by Dr. Harold Gibson and Dr. Rodney Allen has begun at the Mary March Project in central Newfoundland, 20 km east of the former Buchans Mine, under an $11.5M joint venture with VMS Mining Corporation. Multi-year exploration permits for trenching, geophysics and geochemistry have been received, a LiDAR survey flown, and a deep IP survey at Buchans completed with 3D modelling underway. Trenching at Mary March–Nancy April is planned for the third quarter, with definitive JV agreements expected in Q3 2025.
CorporateCanstar Strengthens Technical Advisory Board with the Appointment of Geologist and VMS Mineralization Expert, Dr. Stephen J. Piercey, P.Geo., FGC
Dr. Stephen J. Piercey, P.Geo., FGC, a VMS mineralization specialist and University Research Professor at Memorial University of Newfoundland, has been appointed to Canstar Resources' Technical & Advisory Board to support exploration on the Buchans and Mary March projects in west-central Newfoundland and the previously announced $11.5 million joint venture with VMS Mining Corporation. Separately, the Board approved the grant of 1,110,000 incentive stock options on June 16, 2025, exercisable at $0.05 per common share and expiring June 16, 2030.
ManagementCanstar Executes LOI with Khosla-Backed TerraAI, Supporting $11.5M Critical Metals Exploration JV
A letter of intent has been signed with TerraAI, an AI company backed by Khosla Ventures, to apply its platform to Canstar's $11.5 million exploration joint venture with VMS Mining Corporation at the Buchans and Mary March projects in central Newfoundland. Initial focus is the Mary March discovery hole, a historic unverified intercept of 9.63 m grading 4.2 g/t gold, 122 g/t silver, 10.1% zinc, 1.8% lead and 0.64% copper. A Deep IP survey with Abitibi Geophysics is underway at Buchans.
AcquisitionCanstar Ramps Up Critical Minerals Exploration With Initial Payment from $11.5M Strategic Exploration JV
An initial $500,000 tranche has been received from VMS Mining Corporation under Canstar's previously announced $11.5M strategic exploration joint venture covering the Buchans and Mary March VMS projects in Newfoundland. Phase 1 totals $1.5M at the asset level for a 10% JV stake, valuing the JV projects at $15M pre-money, with VMSC able to earn up to 60% through $10 million of follow-on investment in Phases 2 and 3. Permits for trenching and airborne geophysics have been received, and Canstar retains 100% of its Golden Baie project.
NewsCanstar Announces AGSM Results, Adds Fortune 500 Executive to Board of Directors
All resolutions at Canstar Resources' Annual General and Special Meeting held April 15, 2025 were approved, including fixing the board at five directors, electing James Clare, Jacqueline Allison, Neil Burns, J. Paul Austin III and Nyla Beth Gawel, re-appointing MNP LLP as auditor, increasing shares reserved under the fixed stock option plan from 11,025,366 to 14,884,138, and confirming new By-law No. 1. Robert Bruggeman did not stand for re-election and has joined the Company's Advisory Board.
CorporateCanstar Executes LOI for $11.5M Strategic Investment to Advance Critical Metals Projects
A letter of intent signed April 15 with VMS Mining Corporation sets terms for an $11.5M exploration joint venture on Canstar's Buchans and Mary March polymetallic VMS projects in Newfoundland. A Phase 1 investment of $1.5M would give VMSC a 10% JV interest at an implied post-money valuation of $15M, with Phase 2 and Phase 3 options to reach 40% and 60% for a further $4M and $6M. Canstar expects $500,000 in April 2025, with a definitive agreement targeted for May; the 100%-owned Golden Baie project is excluded.
FinancingCanstar Launches Geophysics Program to Unlock High-Grade Potential of Historic Buchans Mining District, Announces Total of More than C$550,000 in Warrant Exercise Proceeds, and Provides Corporate Update
A DasVision 3DIP geophysical survey by Abitibi Geophysics has begun over approximately 11.76 km² of Canstar's Buchans-area mineral licence in Newfoundland, extending onto adjacent Canterra Minerals claims as a joint collaboration, targeting stockwork and alteration zones associated with Buchans-style VMS mineralization at depth. Canstar received a further C$141,975.15 from the exercise of 2,839,503 warrants, bringing total proceeds from January 2024 financing warrants to C$551,975, with 11,039,503 of 26,665,500 exercised. Bob Patey was appointed VP Exploration and Qualified Person effective March 1, 2025, with Paul Ténière and Michael Norred joining the Advisory Board.
Drill results
20249 releases
Canstar Adds U.S. National Security Strategist and Defense Tech Expert Dr. David Kilcullen to Advisory Board and Provides Corporate Update
Dr. David Kilcullen, a national security and defence technology expert and former Chief Strategist in the U.S. State Department's Office of the Coordinator for Counterterrorism, has been appointed to Canstar Resources' advisory board. The board also repriced 3,444,000 options issued July 15, 2024 from $0.035 to $0.05 and 400,000 options issued August 14, 2024 from $0.04 to $0.05, with all other terms unchanged. Canstar holds the Golden Baie Project (548.75 km2) and the Buchans and Mary March projects (65.75 km2).
ManagementCanstar Receives $410,000 from Early Warrant Exercises & Provides Corporate Updates
Proceeds of $410,000 were received from the early exercise of warrants from Canstar's January 2024 financing, with 8,200,000 common shares issued at an exercise price of $0.05; the funds are earmarked for general working capital. A total of 18,465,500 warrants remain outstanding at $0.05, expiring January 23, 2026. The Board also granted 400,000 stock options to select employees at $0.04, exercisable until August 13, 2029, while employees voluntarily cancelled 450,000 options priced at $0.28.
FinancingCanstar's High-Resolution Airborne Geophysics Data Advances Drill Hole Targeting at Golden Baie
Preliminary results from a high-resolution airborne geophysical survey over the Little River Trend licences at the Golden Baie gold-antimony project in southern Newfoundland have been released. The ALS GoldSpot M-PASS helicopter survey collected about 1,200 line-km of magnetic gradient and VLF-EM data at 50-m line spacing, part of a 1,926.4 line-km two-grid program, tripling prior data density. Several underexplored areas with geophysical signatures similar to the Kendell Prospect were identified for mapping, sampling, trenching and drilling.
Drill resultsCanstar’s High-Grade Antimony Showings, Including 74% Sb, at Golden Baie Highlight Potential Critical Minerals Upside as Price Rises on China’s Export Restrictions
High-grade antimony showings were reported at the Golden Baie Project in Newfoundland and Labrador, including a Le Pouvoir bedrock vein assaying up to 74.4% Sb and 24.1 g/t gold, channel samples of 20.4% to 58.8% Sb, a historical drill intercept of 30.6% Sb over 1 m, and a 30.1% Sb historical bedrock sample at Swangers Cove. Canstar staked an additional 1,100 hectares around Le Pouvoir in 2024. The project lies 89 km from the past-producing Beaver Brook Antimony Mine.
Drill resultsCanstar Appointed as Member of Nevada Tech Hub as Critical Minerals Program Announces Initial US$21 Million Grant from U.S. Economic Development Administration
Canstar Resources has been accepted as a consortium member of the University of Nevada, Reno's Tech Hub Program for critical and EV materials, which received US$21 million in initial funding from the U.S. Economic Development Administration as part of US$541 million allocated across 12 Tech Hubs. Canstar's Buchans-Mary March projects in central Newfoundland, which include a joint venture with Glencore plc, host copper, lead and zinc.
CorporateCanstar Resources Announces Grant of Stock Options
A total of 3,344,000 stock options were granted to officers, directors, consultants and employees at an exercise price of $0.035 per share, expiring July 14, 2029, subject to vesting provisions set by the board and TSX Venture Exchange policies. A former officer has agreed to voluntarily cancel an aggregate of 1,150,000 options with an exercise price of $0.28 per share.
CorporateCanstar Re-initiates District-Scale Precious & Critical Metals Exploration; Announces 11.8 g/t Gold Grab Sample Result; New Geological Model for the Buchans-Mary March VMS Project; and Expansion of Newfoundland Claims Holdings
Spring 2024 prospecting at the Woodcutter Prospect on the Little River Trend at the Golden Baie Project in south-central Newfoundland collected over 300 soil and grab rock samples, with over 60% of rock samples above 100 ppb gold and float grab samples returning 11.8 g/t, 3.1 g/t and 1.8 g/t gold. A re-evaluation of data identified 13 priority exploration targets, and a new 3D model at Buchans indicates the Buchans River Formation may underlie Canstar's claims. The company staked an additional 1,100 hectares at Golden Baie, totalling 548.75 km2, plus 325 hectares near the Skidder deposit.
Drill resultsCanstar Appoints Senior Vice President of Exploration
Paul Ténière, P.Geo., has been appointed Senior Vice President of Exploration of Canstar Resources, bringing over 25 years of experience and prior roles including Toronto Stock Exchange Mining Expert and Senior Listings Manager. The board also appointed current Chief Financial Officer and Corporate Secretary William Upshur to additionally serve as Executive Vice President. Canstar holds a 100% interest in the 62,175-hectare Golden Baie Project and the Buchans-Mary March project in Newfoundland and Labrador.
ManagementCanstar Closes Oversubscribed Financing, Announces Management Changes and Board Appointment
A non-brokered private placement closed for gross proceeds of $856,215, oversubscribed by $121,215, with 26,665,500 units sold: 10,415,500 hard dollar units at $0.03, 10,000,000 flow-through units at $0.0325 and 6,250,000 CMETC flow-through units at $0.035, each with a warrant exercisable at $0.05 for 24 months. Flow-through proceeds will fund exploration at the Golden Baie and Buchans-Mary March properties in Newfoundland and Labrador. Juan Carlos Giron Jr. was appointed President and CEO, William P. Upshur CFO and Corporate Secretary, and J. Paul Austin III a director, replacing Robert Bruggeman, Jack Hurley and Sam Leung.
Financing
20237 releases
Canstar Announces Corporate Update
A non-brokered private placement of up to $735,000 is planned, comprising up to 10,000,000 hard dollar units at $0.03, up to 8,000,000 charity flow-through units at $0.0325 and up to 5,000,000 CMETC charity flow-through units at $0.035, each unit including a warrant exercisable at $0.05 for 24 months. Flow-through proceeds will fund exploration at the Golden Baie and Buchans-Mary March properties in Newfoundland. On closing, Juan Carlos Giron Jr. becomes President and CEO, replacing retiring Robert Bruggeman, and Will Upshur becomes CFO and Corporate Secretary, replacing Jack Hurley; J. Paul Austin III, the lead order, is nominated as director as Sam Leung steps down.
CorporateCanstar Completes Historic Data Compilation on Buchans-Mary March VMS Claims, Defines Exploration Targets
A compilation of historic data on the Buchans-Mary March project in central Newfoundland has been completed, assembling 13,136 soil samples, 2,430 basal tills and data from over 3,500 drill holes, of which 236 are on Canstar's claims. Seven underexplored EM anomalies were identified from a 2017 SkyTEM survey, only two tested by historic drilling. The Mary March trend may span 5,600 m, of which 1,000 m has been drilled; historic hole MM-294-3 returned 4.2 g/t Au, 122 g/t Ag, 10.1% Zn, 1.8% Pb and 0.64% Cu over 9.63 m.
NewsCanstar Exercises Option to Acquire Golden Baie Project Mineral Claims in Newfoundland
Canstar Resources has exercised its option under a September 25, 2020 agreement to acquire 100% of 47 licences totaling 2,446 claims covering 61,150 hectares (612 km2) at the Golden Baie Project in south-central Newfoundland, subject to a 2.0% net smelter return royalty. Following mineral licence re-grouping and dropping some claims, the company holds approximately 657 km2 in 46 licences. 2023 work was scaled back to data compilation, claims management and soil sampling and mapping at Wolf Pond, where soil samples returned up to 5.55 g/t gold; planned Facheux Bay work was postponed.
AcquisitionHigh Resolution Magnetic Survey Confirms Multi-Kilometre Structures at Canstar's Facheux Bay Gold Target
A high-resolution airborne magnetic-VLF survey at the Facheux Bay target on the Golden Baie project in south-central Newfoundland identified an ~8 km long magnetic low along a NE-SW trending regional fault corresponding to a VLF conductor, hosting 2022 gold-in-outcrop samples. The survey, by ALS GoldSpot Discoveries using its M-PASS system at 50 m line spacing, also outlined an unsampled parallel magnetic low. 2022 sampling defined a 1.2 km trend with multiple 5+ g/t gold samples up to 18.4 g/t gold. Mapping and sampling are planned for summer 2023.
Drill resultsCanstar Outlines 2023 Gold Exploration Targets in Newfoundland
Three priority targets have been outlined for the first phase of the 2023 field season at the Golden Baie project in south-central Newfoundland. At Wolf Pond, 2022 drilling of four holes totalling 679 m into a 3 km by 50 m gold-in-soil anomaly returned 1.9 g/t Au over 6.7 m and 0.8 g/t Au over 11.5 m; Facheux Bay outcrop grab samples graded up to 18.4 g/t gold over a 600 m trend, and Wood Cutter float samples returned 19.7 g/t gold. Employees and directors also voluntarily surrendered 2,350,000 options priced at $0.28, cancelled May 4, 2023.
Drill resultsAnnounces Grant of Stock Options
A total of 2,475,000 stock options have been granted to officers, directors, contractors and employees of Canstar Resources at an exercise price of $0.06 per share, expiring March 24, 2028. The grant is subject to regulatory approval and vesting requirements.
CorporateCanstar Hits Multiple High-Grade Intersections in Kendell Drilling
Assay results from fall 2022 diamond drilling at the Golden Baie project in south-central Newfoundland returned 3.2 g/t gold over 22.0 m and 4.3 g/t Au over 14.0 m at the Kendell prospect, where mineralization has been expanded to 195 m down-plunge to the northwest. A newly discovered shallow zone 300 m southeast of historic drilling at Wolf Pond returned 0.8 g/t Au over 11.5 m and 1.9 g/t Au over 6.7 m. The program totalled 6,471 m in 51 holes across six target areas.
Drill results
20229 releases
Canstar Discovers New High-Grade Gold Occurrence and Provides Exploration Activities Update
A new gold occurrence was identified on claims near Facheux Bay, 43 km southwest of the Kendell prospect in southcentral Newfoundland, where outcrop grab samples from arsenopyrite-bearing quartz veining assayed 18.4 g/t and 13.7 g/t gold along a 600 m trend. Channel samples from a float boulder 325 m east of Blow Out returned 197.0 g/t, 45.6 g/t and 29.6 g/t gold, and a new 97 West trench returned 3.3 g/t over 5 m. Assays are pending from more than 50 holes totalling about 6,200 m.
Drill resultsCanstar Announces Annual General Meeting Results
All management nominees were elected as directors and MNP LLP was re-appointed auditor at Canstar Resources' annual general meeting held December 5, 2022. Shareholders did not approve the rolling stock option plan, and the board expects to adopt a 10% fixed stock option plan reserving 11,025,366 common shares, which does not require shareholder approval under TSXV policies but is subject to TSXV approval. The fixed plan will not include a net exercise provision.
CorporateCanstar Commences Drilling of Multiple Targets on the Golden Baie Project in South-Central Newfoundland
Drilling has begun at the Golden Baie project in south-central Newfoundland, the company's third program there, testing six target areas including follow-up at the Kendell prospect, where winter drilling returned 20.6 g/t gold over 3.5 m. Initial drilling is expected to total at least 5,000 m in 50-60 holes, averaging about 100 m each, with targets including Hillside/Skidder, 90 West/Northbrush, 97 West, Osprey and Wolf Pond.
Drill resultsCanstar Exploration Update - New Till Sample Returns 1,049 Gold Grains at the Golden Baie Project
Till sample T5926 from the Golden Baie project in south-central Newfoundland returned 1,049 gold grains, collected about 20 metres northeast of a previously reported 502-grain sample. Ten follow-up till samples at roughly 100 metre spacing included three with more than 100 gold grains (1,049, 289 and 280), 77%, 72% and 82% pristine, defining a 200 metre northeast-trending anomaly along the Little River Trend; a sample 1.5 km northeast on the new Golden Eye claims returned 102 grains.
Drill resultsNewfoundland Gold Exploration Claims Increased by 21% to 939 km2
A total of 658 additional mineral claim licenses covering 16,450 hectares have been acquired in south-central Newfoundland through map staking and purchases from third parties, bringing Canstar's holdings to 939 km2 (93,875 hectares) along the Day Cove Thrust and Hermitage Flexure faults. The Bernards Pond Claims (106 claims, 2,650 hectares) and Roti Bay Claims (72 claims, 1,800 hectares) were acquired from local prospectors for 250,000 common shares, $30,920 in fee reimbursements and a 2.0% NSR, with 1% purchasable for $750,000.
CorporateCanstar Drills 20.6 g/t Gold over 3.5 Metres at Kendell Prospect; Extends Mineralization Downdip by 80% to 180 Metres
Drilling at the Kendell prospect on the Golden Baie property in south-central Newfoundland returned 20.6 g/t gold over 3.5 m, including 58.2 g/t over 1.1 m, in hole GB-22-94. Hole GB-22-92 cut 6.1 g/t over 3.6 m, including 44.9 g/t over 0.4 m, about 80 m downdip of GB-21-53, extending known downdip length of mineralization to roughly 180 m. The February–March 2022 program totalled 2,907 m in 39 holes; further drilling is planned for this fall.
Drill resultsCanstar Announces Final 2021 Field Work Results, Commences 2022 Field Season at Golden Baie Project in Newfoundland
Final 2021 exploration results from the Golden Baie project in south-central Newfoundland include channel samples of 13.1 g/t gold over 1.0 m and 10.7 g/t gold over 0.6 m at the 97 West target, an outcrop grab sample of 35.5 g/t gold, and four new gold occurrences, including Train Hill, an 800 m by 50 m anomalous zone. The 2022 field season has begun under a fully funded budget of approximately $6 million, more than double 2021, with 29 winter drill holes at Kendell pending assay.
Drill resultsCanstar Announces Till Results with up to 502 Gold Grains and Additional Shallow High Grade Drill Results
Assays from the final 26 drill holes of the 2021 program at the Golden Baie property in south-central Newfoundland returned 6.04 g/t gold over 2.12 m at Blow Out (GB-21-41) and 9.83 g/t gold over 0.53 m at Hillside (GB-21-23), with intercepts near surface. A first systematic till program of 74 samples over a 5 km x 1 km area returned up to 502 gold grains (59% pristine), with 34 samples above 20 grains. Assays from a 39-hole winter drill program at Kendell are pending.
Drill resultsCanstar Increases Winter Drill Program at Kendell Prospect
The winter drill program at the Kendell prospect on the Golden Baie claim block in central Newfoundland has been increased to 3,000 metres of diamond drilling, up 50% from the 2,000 metres announced February 8, 2022. Drilling began February 8 and 2,065 metres in 31 holes have been completed, with 9 additional holes planned; assays are expected by June. The 2022 exploration budget is expected to be approximately $6.0 million.
Drill results