Bald Hill Update

RNS Number : 7768X

Tri-Star Resources PLC

24 November 2014

 



Tri-Star Resources plc ("Tri-Star" or the "Company")

24 November 2014                                                                                                                            

Fifth high grade antimony prospective trend within 4 kilometre radius of Bald Hill Deposit in New Brunswick, Canada

Tri-Star (AIM: TSTR), the integrated antimony development company, is pleased to provide an update of the ongoing exploration programs on the Bald Hill antimony property. Reconnaissance exploration programs have highlighted two new prospective antimony trends in the Bald Hill area which have returned prospecting assays of 4.61% Sb and 21.7% Sb, respectively. These new areas together with the existing 3 trend areas are within a 4 km radius of the original Bald Hill deposit. Results from new and existing areas and occurrences are set out below:

New prospective trend areas:

·      The "28 East" trend is located 2.8 km east of the original Bald Hill Deposit ("Bald Hill Deposit"). Recent reconnaissance prospecting has returned assay results of 21.7% Sb from angular boulders. (Figure 1 and Table 1).

·      The"Carpenter Brook" trend is located 3km south west of the Bald Hill Deposit. Recent reconnaissance prospecting has returned assay results of 4.61% Sb from boulders collected by Tri-Star in the Carpenter Brook area corresponding to the location of historical work undertaken by Maritime Resource Research Limited ("MRR") (Table 1). Compilation of previous exploration work in the Carpenter Brook area indicates a Sb soil anomaly ranging to 1,300 ppm Sb, 970 metres in length and up to 360m wide, orientated in a NNW - SSE trend which remains open to the north and south. (Figure 1, Table 1 and Table 2).

Existing prospective trend areas:

·      The Bald Hill Deposit where drilling over a 700 metre length returned intersections ranging as high as 11.70% Sb and 6.74 % Sb over core-intervals of 4.51metres and 3.30 metres, respectively. The extent of mineralization remains open.

·      The Bald Hill South Discovery ("South Discovery"): Exploration surveys indicate that the overall northwest - southeast trending Bald Hill Deposit - South Discovery trend is at least 2.2kms long. The May-June 2014 trenching program in the South Discovery outlined a new area of antimony mineralization grading 9.04% Sb over 2.60 metres including 12.32% over 1.7 metres from channel sampling (see announcement dated July 16, 2014). 

·      Bond Road: Located approximately 4km east of the Bald Hill Deposit, soil assay results outline a well-defined, 600m long Sb anomaly trending northwest, similar to the orientation of the fault-fill type mineralization at Bald Hill. Prospecting by Rockport on the Bond Road grid area discovered numerous boulders that assayed greater than 15% Sb (see RNS announcement dated July 16, 2014).

The Bald Hill Deposit, South Discovery and Bond Road trend areas are further described in the Bald Hill NI 43-101 Technical Report dated 28 October 2014 available on the Company's website further to the announcement dated 31 October 2014.

Ken Hight, CEO of Tri-Star Antimony Canada Inc., stated: "We are excited by the indication of multiple northeast-southwest antimony trends developing in the Bald Hill area and the obvious upside potential this implies. Our 100% owned land package in the Bald Hill area consists of 891 claim units totalling 200 km² and 35 kilometers in length. We have explored only a small portion of this large property and numerous historic indications of antimony have been found throughout the land package. Results demonstrate the emerging potential of the Bald Hill antimony project."

Roger Dahn, Vice President - Exploration of Tri-Star, recently presented an update titled "The Bald Hill Antimony Deposit- An Exploration Update" at the 2014 EMP Conference in Fredericton, New Brunswick on November 3, 2014. The presentation will be available on the Company's website at www.tri-starresources.com shortly.

Table 1: 28 East and Carpenter Brook - October - November 2014 Prospecting Results

Angular Mineralized Boulders - Grab sample results
Sample ID	Zone	Easting	Northing	Sb %
9575 (28 East)	20T	267993	5062381	21.7
9576 (Carpenter Brook)	19T	731361	5058494	4.61

Compilation of previous gold oriented exploration work completed by MRR in 1986 and 1987 (New Brunswick Assessment # 473379) indicates a large Sb soil anomaly ranging to 1300 ppm Sb, 970 metres in length and up to 360m wide in the Carpenter Brook area. The anomaly extends to the limits of the 1986-1987 soil geochemical survey and remains open to the north and south. The soil anomaly is orientated in a NNW - SSE trend which is similar in orientation to the Bald Hill Deposit and the South Discovery. Recent prospecting by Tri-Star in November 2014 located a mineralized angular boulder assaying 4.61% Sb (Sample 9576 - Table 1) located approximately 120 metres east of the 1300 ppm Sb soil site identified by MRR. This occurrence enhances the indicated economic potential of this new Sb trend. Detailed exploration programs are planned during 2015 to evaluate the Carpenter Brook target area.

MRR collected a total of 274 B-horizon soil samples which were analyzed for 28 elements including Sb.  The soils assays were performed in May 1987 by Neutron Activation Services Limited of Hamilton, Ontario using INAA methods. Basic statistics of the soil geochemical results are presented in Table 2.

            Table 2: Carpenter Brook - Soil Geochemical Anomaly

Maritime Resource Research Limited - Compilation Statistics of 1986 -1987 Soil Geochemical Results
Total # of Samples:   274 Max. Sb ppm value:  1300 Min. detection limit:  0.20
Sb Level (ppm)	# of samples	% of total collected
> 2.5	99	36.1%
>5.0	64	23.4%
>10.0	25	9.1%
>20.0	15	5.5%
>40.0	12	4.4%
>80.0	4	1.5%

Assays of the Company's prospecting samples were performed by Activation Laboratories Ltd, Ontario, using Code 8 Sb assay by Sodium Peroxide Fusion followed by ICP analysis. Activation Labs runs internal blank and standard samples as part of their quality control.

http://www.rns-pdf.londonstockexchange.com/rns/7768X_-2014-11-24.pdf

Roger Dahn (P. Geo.), Vice President-Exploration of Tri-Star and a Qualified Person as designated under National Instrument 43-101, is based in New Brunswick and supervises the exploration work on the Bald Hill antimony project, including the sampling and quality assurance/quality control programmes and has reviewed and approved the contents of this release.

For further information please contact:

Enquiries:

Tri-Star Resources Plc Emin Eyi, Managing Director Brian Spratley, Technical Director Tri-Star Antimony Canada Inc Ken Hight, CEO	Tel: [phone] Tel: [phone] Tel:[phone]
SP Angel Corporate Finance (Nomad and Broker) Robert Wooldridge / Katy Birkin	Tel: [phone]
Yellow Jersey PR Limited (Financial PR) Dominic Barretto / Kelsey Traynor Keith, Bayley Roger & Co (Joint Broker) Brinsley Holman	Tel: [phone] Tel: [phone]

About Tri-Star

Tri-Star is a focused antimony company whose management has many years' experience in trading and mining this critical mineral.  The Company's objective is to become the leading integrated antimony metal and products manufacturer to western economy consumers utilising an environmentally advanced 20,000 tonnes per annum name plate capacity antimony metal and tri-oxide production facility in the Gulf, with raw material supplied from its upstream resource projects in Turkey and Canada and from third party producers. The Company is seeking to utilise the technology of clean roasting of high value sulphide concentrates to apply to the processing of refractory gold ores.

www.tri-starresources.com

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All statements, other than statements of historical fact, included in this release including, without limitation, the viability of chemical processes, the financial assumptions, bases and outputs mentioned, constitute forward-looking information.  Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the ability to deliver any of the outcomes referred to, the availability of financing and general economic and market conditions. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks associated with changes in laws, the ability to raise finance on acceptable terms for any of the projects or facilities mentioned, the volatility of commodity and raw material prices, currency exchange rates and interest rates, global economic conditions and the additional risks identified in the Company's Annual Report and Financial Statements for the year ended 31 December 2013 or other reports and filings with applicable securities regulators. Forward-looking information in this release is based on the Directors' beliefs, estimates and opinions on the date of this release and the Company does not undertake to update publicly or revise the forward-looking information contained in this release, except as required by applicable securities laws.

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