|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.
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Jul. 28, 2015 05:00 AM EDT Reads: 1,647
Palerra, the cloud security automation company, announced enhanced support for Amazon AWS, allowing IT security and DevOps teams to automate activity and configuration monitoring, anomaly detection, and orchestrated remediation, thereby meeting compliance mandates within complex infrastructure deployments. "Monitoring and threat detection for AWS is a non-trivial task. While Amazon's flexible environment facilitates successful DevOps implementations, it adds another layer, which can become a ...
Jul. 27, 2015 10:15 PM EDT Reads: 266
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
Jul. 27, 2015 10:00 PM EDT Reads: 1,315
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 27, 2015 09:45 PM EDT Reads: 968
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, S...
Jul. 27, 2015 09:00 PM EDT Reads: 2,024
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Jul. 27, 2015 08:45 PM EDT Reads: 181
Delphix, the market leader in Data as a Service (DaaS), has been announced winner of the DevOps Solution Award at the prestigious Computing Vendor Excellence Awards in London. The awards celebrate the achievements of the technology vendors and service providers that are leading the field of enterprise IT. Delphix was recognised as the vendor demonstrating the most effective support of DevOps culture for its ability to improve time to market and collaboration between teams.
Jul. 27, 2015 08:00 PM EDT Reads: 255
"Our biggest growth area has been the security services, the managed services - the things that differentiate us in the market that there is no client that's too small and there's no client that's too big," explained Paul Mazzucco, Chief Security Officer at TierPoint, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 27, 2015 06:30 PM EDT Reads: 305
The Cloud industry has moved from being more than just being able to provide infrastructure and management services on the Cloud. Enter a new era of Cloud computing where monetization’s services through the Cloud are an essential piece of strategy to feed your organizations bottom-line, your revenue and Profitability. In their session at 16th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, discussed how to easily o...
Jul. 27, 2015 06:00 PM EDT Reads: 330
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 27, 2015 06:00 PM EDT Reads: 516
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Jul. 27, 2015 05:30 PM EDT Reads: 1,331
Sysdig has announced two significant milestones in its mission to bring infrastructure and application monitoring to the world of containers and microservices: a $10.7 million Series A funding led by Accel and Bain Capital Ventures (BCV); and the general availability of Sysdig Cloud, the first monitoring, alerting, and troubleshooting platform specializing in container visibility, which is already used by more than 30 enterprise customers. The funding will be used to drive adoption of Sysdig Clo...
Jul. 27, 2015 05:00 PM EDT Reads: 399
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Jul. 27, 2015 03:00 PM EDT Reads: 428
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...
Jul. 27, 2015 03:00 PM EDT Reads: 1,222
"We do data integration for B2B also application to application, and we do data management and enable Big Data," explained Pat Adamiak, Vice President, Product Marketing at Liaison Technologies, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 27, 2015 03:00 PM EDT Reads: 299