TORONTO, ONTARIO -- (Marketwire) -- 02/25/13 -- The directors of Canstar Resources Inc. (Canstar) (TSX VENTURE: ROX), are pleased to report that Phase One diamond drilling has recently been completed on the Mary March project located in the Buchans Group volcanic belt, approximately 20 kilometers northeast of the prolific, formerly producing Buchans Mine, in Central Newfoundland. This property is held via a 50/50% joint venture between Canstar Resources Inc. and Xstrata Zinc Canada where Canstar is the operator.
All assays have now been received and a compilation report is being prepared with recommendations for a second round of diamond drilling.
The Mary March/Nancy April system is a large, strong VMS alteration zone comparable in size, volume and strength to that at Buchans. Eight holes, six on the Mary March Zone and two on the Nancy April Zone, totaling 2,320 meters, were completed. Semi-massive or massive sulphides were intersected in four holes - MM-12-21, MM-12-23, MM-13-27, and MM-13-28.
The tables below provide details of the drilling program including significant assays.
Hole No: UTM coordinates Azimuth Angle LengthMM-12-21 533,592 E 5,408,481 N 132 46 301MM-12-22 533,659 E 5,408,585 N 123 49 376MM-12-23 534,357 E 5,408,931 N 127 45 400MM-12-24 534,542 E 5,408,838 N 123 54 211MM-12-25 534,204 E 5,408,446 N 120 65 352MM-12-26 534,328 E 5,408,602 N 130 71 189MM-12-27 534,448 E 5,408,733 N 132 44 265MM-12-28 534,493 E 5,408,782 N 130 60 226 ASSAYSHole No From To M Au ppb Ag g/t Cu% Zn% Pb%Nancy April Zone MM-12-21 267.8 268 0.2 22 7.5 2.40 -- -- MM-12-22 Minor values onlyMary March Zone (i)MM-12-23 315.59 316.61 1.02 1258 35.5 0.05 5.20 0.99 325.79 327.09 1.30 823 40.7 0.02 1.89 0.73 MM-12-24 No significant values MM-12-25 265.62 265.78 0.16 189 90.5 0.50 7.00 3.90 MM-12-26 No significant values MM-12-27 123.28 123.52 0.24 61 3.9 0.69 3.10 0.06 214.79 216.16 1.37 36 1.0 0.18 1.84 0.23 221.59 221.74 0.15 204 22.1 1.87 12.40 0.42 247.18 249.18 2.00 43 1.4 0.15 2.30 1.40 MM-12-28 199.58 199.86 0.28 197 53.0 0.44 4.70 4.10(i) MM-12-23 was collared of the same location as previous hole MM-294-07which intersected 9.33 meters averaging 4.11 g/t Au, 118.10 g/t Ag, 0.66%Cu, 10.38% Zn, 1.67% Pb.
Nancy April Zone
On the Nancy April horizon, two drill holes, MM-12-21 and MM-12-22, were completed 220m and 100m respectively, along strike to the southwest from historic Phelps Dodge drill hole MM-294-16. The first hole of the program, MM-12-21, intersected 1.6m of massive, fine to medium grained pyrite with low grade base metals. Both holes successfully intersected the altered and mineralized Nancy April felsic volcanic panel, but only Hole MM-12-21 intersected the massive pyrite horizon, which occurs just below the top of the panel. Additionally, the thickness of the Nancy April panel in Hole MM-12-21 is 80m whereas in Hole MM-12-22 it has thinned to 43m (44.6m in MM-294-16) and is intruded by voluminous altered (diabase) dykes, indicating an improvement to the southwest in this area.
