Archean Star Resources Inc.: Drill Program Commences at Gnaweeda Gold Project,
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/18/13 -- Archean
Star Resources Inc. (TSX VENTURE:ASP) (the "Company" or "Archean")
reports that a diamond drill program has commenced at the Far East
Gold Prospect on the pronounced SAM ('Sub-Audio Magnetotelluric')
conductivity anomaly that is virtually coincident with the N-S trend
of gold anomalies at the Gnaweeda Gold Project in the well endowed
Murchison Gold Field in Western Australia. The key highlights are:
-- "Significant structurally related geophysical anomalies have been
identified at Far East & Bunarra"
-- "Drill testing of historic multiple meter intersections up to 7 g/t Au
now underway at Far East"
-- "Additional holes planned at Bunarra Prospect where prior intersection
include 18 m @ 11.79 g/t Au"
Multiple gold intersections with multiple meter gold intervals
grading up to 7 g/t Au have been identified on the Far East gold
prospect from prior RAB drilling, which is now being followed up with
a diamond drilling program. The multiple gold intersections broadly
correlate with an approximately 1 km long SAM anomaly identified in
the recentsurvey (image below or http://www.archeanstar.com/propertie
The approximately $300,000 diamond drill program at Gnaweeda is
co-funded by the Government of Western Australia Department of Mines
and Petroleum ("DMP") under its exploration co-funding program with
the granted funding from the DMP set at a maximum $150,000.
The Far East and Bunarra gold prospects are approximately 14 km and
17 km respectively, south of the Turnberry gold prospect that was the
subject of the most recent drill program. The more significant gold
intersections at Bunarra were 18 meters grading 11.79 g/t Au and 79
meters grading 0.31 g/t Au. These intersections were located in the
approximate center between two significant identified SAM anomalies.
To view the map accompanying this press release please click on the
following link: http://file.marketwire.com/release/ASP0618.pdf
On completion of this program, the Company will have completed the
required expenditures to earn, subject to a 75% back in right, 100%
of Teck Austra
lia Pty Ltd's interest in Gnaweeda.
The approximately 170 sq km Gnaweeda Greenstone Gold Belt, which is
substantially under explored, lies approximately 35 km to the
northeast of the town of Meekatharra, where Reed Resources, an ASX
listed Company, reported gold production had commenced from its
Meekatharra Gold Operation, and approximately 10km east of Doray
Minerals' Andy Well project, where open pit mining operations have
Archean Star Resources Inc. is a junior exploration company listed on
the TSX Venture Exchange that is creating shareholder value by
earning, through its wholly owned subsidiary, Archean Star Resources
Australia Pty Ltd, 100% of Teck Australia Pty Ltd.'s ("Teck")
interest, subject to a 75% back in right in such interest to Teck, in
Chalice Gold Mines Limited's Gnaweeda Gold Project in Western
Australia. The Company is also earning an 80% interest in AMCOR's
Monitor Copper, Gold and Silver project in the Coeur D'Alene Mining
District in Idaho.
This News Release has been prepared on behalf of the Archean Star
Resources Inc. Board of Directors, which accepts full responsibility
for its contents. The contents of this news release have been
reviewed and approved by Dr. Clay Conway, P.Geol, a Qualified Person
as recognized by National Instrument NI-43-101, and a director of the
ON BEHALF OF THE BOARD
Graeme O'Neill, President
Neither the TSX Venture Exchange, nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange), has reviewed, nor do they accept responsibility for, the
adequacy or accuracy of this news release.
Archean Star Resources Inc.
(888) 282-7763 (FAX)
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