|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.
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...
Nov. 28, 2015 08:00 PM EST Reads: 424
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Nov. 28, 2015 01:00 PM EST Reads: 476
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
Nov. 28, 2015 12:00 PM EST Reads: 550
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company Logz.io. In the past, he was co-founder of social-trading platform Currensee, which...
Nov. 28, 2015 12:00 PM EST Reads: 231
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Nov. 28, 2015 12:00 PM EST Reads: 335
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
Nov. 28, 2015 11:45 AM EST Reads: 405
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
Nov. 28, 2015 11:15 AM EST Reads: 414
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Nov. 28, 2015 11:00 AM EST Reads: 514
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Nov. 28, 2015 10:30 AM EST Reads: 313
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Nov. 28, 2015 10:15 AM EST Reads: 254
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Nov. 28, 2015 10:00 AM EST Reads: 197
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Nov. 28, 2015 10:00 AM EST Reads: 399
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
Nov. 28, 2015 09:00 AM EST Reads: 182
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and t...
Nov. 28, 2015 08:45 AM EST Reads: 437
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
Nov. 28, 2015 08:45 AM EST Reads: 331