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Published in Stocks and Investing on Thursday, February 5th 2009 at 7:03 GMT, Last Modified on 2009-02-05 07:04:57 by Market Wire
POST FALLS, Idaho--([ BUSINESS WIRE ])--Star Gold Corp. (OTCBB: SRGO) (hereafter "Star Gold"), a gold and base metal exploration company, announced today that it has initiated a work program on its Excalibur project, located 20 miles southwest of Mina, Nevada. Geologic mapping and geochemical sampling are planned and will be centered on the currently held claims. Geochemical samples will be analyzed for gold, silver and associated elements.
Lindsay Gorrill, Star Gold's President and Chief Executive Officer (CEO), states: "We are pleased to begin work on our Excalibur Project. Given previous reported observations on the claims, we look forward to obtaining new data that will allow us to better gauge our project."
The Excalibur Project is located within a major gold/silver producing belt know as the Walker Lane, which hosts the nearby Borealis and Goldfield districts. The current land position consists of eight (8) unpatented mining claims covering a mineralized zone approximately 3,000 feet long and 600-1,000 feet wide.
Star Gold has contracted MinQuest Inc., a private mineral exploration company based in Reno, Nevada, to conduct the work program. Included in the program will be the mapping of rock types, alteration and structure, as well as rock chip sampling of any alternation found. Work is anticipated to be completed and professional recommendations made by late spring, 2009.
MinQuest Inc. states: "Excalibur's alteration consists of sheared, silicified and iron oxide-stained shale and sandstone of the Triassic Excelsior Formation. Initial work indicates that there are three additional areas of alteration located nearby."
About Star Gold Corp.
Star Gold Corp. is a gold and base metal exploration company with the purpose of evaluating, developing and acquiring gold projects of merit with a focus on the United States, Canada and Mexico.
Star Gold Corp. has compiled a management team that has the knowledge, experience and motivation to find quality properties at different stages of development in order to fulfill their corporate mission.
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that we can increase the Company's assets and increase shareholder value by focusing on gold and base metal exploration; that geologic mapping, and geochemical sampling will be completed with the program, as well as mapping of rock types, alteration and structure, as well as to include rock chip sampling of any alternation found; that; that the work program should be completed by late Spring 2009; that It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants, competition for equipment, inability to obtain drilling and mining permits, potential delays or obstacles in drilling and mining operations and interpreting data, and the likelihood that no commercial quantities of gold or base metals are found or recoverable. Additional information on risks for the Company can be found in filings on Edgar of other gold and base metal exploration companies with the US Securities and Exchange Commission.
