Key facts
| Company | Canstar Resources (TSXV: ROX) |
|---|---|
| Commodity | Gold |
| Location | Canada |
| Stage | Early exploration |
About Golden Baie Project
Canstar Resources Inc. (TSXV: ROX) is an exploration company focused on critical minerals and gold. The Company's 100%-owned Golden Baie Project hosts high-grade gold and antimony showings along a major mineralized structure that also hosts a large number of gold deposits. The Buchans and Mary March projects are located within the world-class, past-producing VMS zinc-, copper-, and silver-rich Buchans Mining Camp and boast high-grade zinc and copper discoveries.
News releases20 on file
Canstar 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
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,
FinancingCanstar 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
NewsCanstar 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 $5
FinancingCanstar 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 te
ManagementCanstar'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. Se
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. Th
Drill resultsCanstar 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 wor
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
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 f
Drill resultsCanstar 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
Drill resultsCanstar 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, 9
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
Drill resultsCanstar 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 ho
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
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 g
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
Drill results