First Star begins summer 5,000-metre drill program at LMS property
Vancouver-based junior explorer First Star Resources (CVE:FS) said Thursday that it has started its 2011 summer exploration program at its main LMS gold and silver property in Alaska this week.
During the next few months, First Star plans on drilling 5,000 metres of diamond core on the property, which is under a joint venture with Corvus Gold (TSE:KOR), a subsidiary of International Tower Hill.
Drilling will be designed to test the existing Camp Zone, in an effort to expand gold mineralization and to drill a northeastern-striking structural corridor within a lower zone that is known to contain high grade gold.
Through this, the company hopes to extend existing mineralization of roughly 500 metres down dip, to 1,000 metres. A new resource estimate is expected to be completed by year-end, which will also include silver resources.
In April, First Star completed a 640-metre winter drill program, for which results are still pending, and will be announced soon, it said.
The LMS claim block is located in the Goodpaster Mining District of Alaska, and consists of 92 State of Alaska mining claims, which cover 61 square kilometers.
