|By Marketwired .||
|July 8, 2014 06:09 PM EDT||
SASKATOON, SASKATCHEWAN -- (Marketwired) -- 07/08/14 -- Star Minerals Group Ltd. (CSE:SUV) ("Star") is pleased to announce updated exploration activities as reported by its joint venture partner Lakeland Resources Inc. ("Lakeland") (TSX VENTURE:LK)(FRANKFURT:6LL), where Lakeland was granted an option to acquire a 100% interest in two claims totaling 1,092 hectares located near the settlement of Stony Rapids in the Athabasca Basin, Saskatchewan.
In preparation for the summer 2014 field program at the Star Property, Lakeland has received a review of historic and recent exploration from project consultants Dahrouge Geological Consulting Ltd. of Edmonton, AB; and notes the following:
-- A one-day exploration program in 2013 found a number of surface grab samples enriched in gold, platinum group elements (PGE's), and Rare Earth Element's (REE's); -- Two outcrop samples described as altered, black, cryptocrystalline and approximately 200 m apart contained highly anomalous concentrations of gold and PGE's, as follow: -- Sample 79441: 1.8 g/t Au, 0.08 g/t Pt; 0.12 g/t Pd -- Sample 79447: 5.7 g/t Au; 0.36 g/t Pt; 0.39 g/t Pd -- A sandstone boulder with anomalous uranium values also contained strong enrichment in heavy rare earth elements; while a nearby outcrop contained 6.9% TREO's: -- Sample 79442 (boulder sample): 257 ppm Uranium, 0.3% TREO (includes 1,216 ppm Dy2O3 and 321 ppm Y2O3) -- Sample 79447 (outcrop sample): 6.9% TREO (dominantly Light REE enriched).
Project Geology and Target Potential
The Star Property covers a quasi-circular basement uplift along the northern margin of the Athabasca Basin, immediately north of the Company's Gibbons Creek Property (under option to Declan Resources Inc.). This structural feature is considered an ideal location for the development of uranium occurrence's associated with the unconformity or sub-unconformity of the Athabasca Basin.
A small portion of the uplifted basement outcrop on the Star Property was prospected with very promising results, as highlighted earlier. In total, 8 outcrop samples and 2 boulder samples were collected. The highly anomalous concentrations of gold (up to 5.7 g/t Au), platinum group elements (0.75 g/t PGE's), rare earth elements (up to 6.9% TREO) and highly anomalous uranium; suggest the presence of a robust hydrothermal system.
The potential for such a regional hydrothermal system is demonstrated by intense alteration associated with historic uranium mineralization within the Gibbons Creek Property located immediately to the south. Within the Athabasca Basin, there are a number of projects where highly anomalous precious metals and/or rare earth elements occur in spatial relation to Uranium deposits and/or mineralization. Examples of such mineralization include the Nicholson Bay and Fish Hook Bay U-Au-PGE occurrences, and the MAW Zone- Wheeler River occurrences.
Preliminary mineralogical work on the REE-bearing samples includes SEM analysis (Scanning Electron Microscope); BSE analysis (Electron Back-Scatter Analysis); and EDS (Energy Dispersive Spectrometry) and reveals the following:
Sample #79442 - The Heavy REE values are from fine-grained xenotime. The modal mineralogy of the sample reveals primarily quartz, with xenotime (3.1%) and about 1.3% kaolinite/illite clay. Diagenetic-Hydrothermal xenotime accumulations are known elsewhere in the Athabasca Basin region, and have been associated with some unconformity-style uranium deposits (McArthur River, Key Lake, McLean Lake and others).
Sample #79446 - The sample contains 23.6% monazite, with 16.75% kaolinite/illite clay.
About the Property
The Star Property benefits from historic exploration including modern geophysics and drilling completed by Star Minerals in 2005 to 2008; and work by Eldorado Nuclear in the 1970's and 1980's. The Property is considered highly prospective for U, Au, PGE's and REE mineralization. It also benefits from nearby infrastructure, with power lines and highways nearby.
NI 43-101 Disclosure
The technical information above has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of Lakeland by Neil McCallum, P.Geo., of Dahrouge Geological Consulting Ltd., a qualified person.
All rock samples were delivered to Activation Laboratories Ltd., an ISO Certified Laboratory. All samples were analyzed by a 39-element "partial digestion" with ICP-MS/ICP-OES analysis; and a 49-element "total digestion" with ICP-MS/ICP-OES analysis. Uranium values are converted to U3O8 values with the conversion factor of 1.1792.
Samples with high REE values were tested using the 8-REE method whereby the sample is treated with lithium metaborate/tetraborate fusion with subsequent analysis by ICP-MS and ICP/MS analysis. All REE samples reported herein were derived using this method. Total Rare Earth Oxides ("TREO") include: La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, and Y2O3.
All samples were tested using the 1C-OES-Exploration method Fire Assay (with Platinum and Palladium) on a 30 gram aliquot with an ICP finish.
Joint Venture Terms
Under the terms of the joint venture agreement, Lakeland has the right to earn a 100% interest in the two claims by making cash payments totaling $60,000 and issuing 600,000 common shares over a 12 month period. Star has retained the option of a 25% buyback for payment of 4 times the exploration monies spent by the Purchaser to the date that the buyback option is exercised. The buyback option will be exercisable at any time up to a 90 day period following the completion and publication of a 43-101 compliant resource estimate.
Jim Engdahl President & CEO of Star Minerals Group says, "I am very pleased with the exploration results released by our Joint Venture partner and look forward to the next phase of work."
About Star Minerals Group Ltd.
Star is a Saskatoon-based, diversified exploration stage company, with a primary focus on strategic technology metals, and its advanced joint venture rare earth project Hoidas Lake. To advance exploration, the Company has leveraged the strength and experience of its management, board of directors and advisors to identify and acquire strategic investments that have the capability to generate cash flow with low capital expenditure costs.
The Company entered into a joint venture in an advanced rare earth project in Saskatchewan - Hoidas Lake. Star also holds a strategic gold exploration property in the Seabee gold mining district, diamond properties in the Fort a la Corne region as well as base metal and uranium properties.
STAR TRADES ON THE CSE UNDER THE SYMBOL "SUV".
For more information, please visit our website at www.starminerals.ca.
Forward Looking Statements
This news release contains certain statements which constitute forward-looking statements or information ("forward-looking statements. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Star's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Star believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. Other factors that could materially affect such forward-looking statements are described in the risk factors in the most recent management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Star does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. This cautionary statement expressly qualifies the forward-looking statements contained in this document.
How will your company move to the cloud while ensuring a solid security posture? Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is ...
May. 31, 2016 12:15 PM EDT Reads: 915
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
May. 31, 2016 12:00 PM EDT Reads: 2,608
SYS-CON Events announced today that Hanu Software will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Leveraging best-in-class people, processes, and technologies, Hanu provides high-quality, high-value software development and business process outsourcing services to independent software vendors (ISVs) and enterprises.
May. 31, 2016 12:00 PM EDT Reads: 1,497
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
May. 31, 2016 12:00 PM EDT Reads: 1,493
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
May. 31, 2016 11:45 AM EDT Reads: 2,108
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
May. 31, 2016 11:45 AM EDT Reads: 887
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
May. 31, 2016 11:30 AM EDT Reads: 834
SYS-CON Events announced today that IBM Cloud Data Services has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. IBM Cloud Data Services offers a portfolio of integrated, best-of-breed cloud data services for developers focused on mobile computing and analytics use cases.
May. 31, 2016 11:30 AM EDT Reads: 1,638
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
May. 31, 2016 11:15 AM EDT Reads: 907
18th Cloud Expo, taking place June 7-9, 2016, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some...
May. 31, 2016 11:00 AM EDT Reads: 3,268
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
May. 31, 2016 11:00 AM EDT Reads: 1,916
@DevOpsSummit taking place June 7-9, 2016 at Javits Center, New York City, and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
May. 31, 2016 10:45 AM EDT Reads: 3,089
SYS-CON Events announced today that MobiDev will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobile software company with over 200 develope...
May. 31, 2016 10:15 AM EDT Reads: 2,909
We’ve been doing it for years, decades for some. How many websites have you created accounts on? Your bank, your credit card companies, social media sites, hotels and travel sites, online shopping sites, and that’s just the start. We do it often without even thinking about it, quickly entering our personal information, our data, in a plethora of systems. Sometimes we’re not even aware of the information we are providing. It could be very personal information (think of the security questions you ...
May. 31, 2016 09:30 AM EDT Reads: 1,086
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
May. 31, 2016 09:00 AM EDT Reads: 2,440