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Mike Niehuser
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Mike Niehuser is the founder of Beacon Rock Research, LLC which produces research for an institutional audience and focuses on precious, base and industrial metals, and substitutes, oil and gas, alternative energy, as well as communications and human resources. Mr. Niehuser was nominated to... More
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  • Redstar Confirms Large Gold System in Red Lake 0 comments
    Jan 17, 2012 8:11 PM | about stocks: RGCTF, CNRMF, GG, RBY

    Redstar Gold Corp. (OTC:RGCTF) reported additional drill results on its Newman Todd project in the Red Lake District in Ontario, Canada, by its joint venture partner Confederation Minerals Ltd. (OTCQX:CNRMF). Consistent high-grade gold drill results over the 1.8 kilometers trend continue to confirm that they are on a large hydrothermal system. 56 holes totaling 24,707 meters were completed on the Newman Todd in 2011 with about seven holes which are yet to be released. Altogether, Redstar has completed about 56,000 meters of drilling on the Newman Todd encountering gold in every hole. They have identified up to 20 zones drilling from near surface to only a depth of 500 meters.

    The results are reminiscent of other impressive deep high-grade gold deposits in the Red Lake area. Goldcorp’s (NYSE:GG) Red Lake Mine resource is composed of about 32 zones, which would cover a small portion of the Newman Todd Trend. It would appear that additional drilling may lead to further identification of zones of gold mineralization leading to deeper feeder zones. Having completed the 2011 program we suspect that the joint venture will formulate plans for 2012. In addition, we are also looking for details on Confederation’s progress leading to it earning its 50% ownership position and expectations to earn an additional 20% interest. Redstar has established a year-round exploration camp and we suspect drilling may resume in the near future.

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