A very interesting and sobering media piece "gwjabes" posted on...

A very interesting and sobering media piece "gwjabes" posted on another forum entitled the Good the Bad and the Ugly from "Todays Eureka Report".

I thought that it was very much akin to how Andrew King would conservatively and cautiously promote Goldstar. However, I do detect that of late, Andrew King is now struggling to conceal his real enthusiam. Andrew is a very level-headed, down-to-earth, practical person, rarely given over to revealling his feelings. So it came as a surprise...but, also highly significant that, he said that he "believes these results are exceptional and provide strong evidence of the potential of the dyke bulges to deliver significant volumes of ore grade material."


More high-grade reefs for Goldstar

Wednesday, 1 November 2006

FINAL assays are in for Goldstar Resources' recent drill program at the Tubal Cain dyke bulge in Victoria, confirming the presence of 15 quartz reefs and paving the way for a substantial increase in the high-grade quartz reef material within the bulge.



Goldstar drilling at its Walhalla gold project in Victoria.

Goldstar said the results had exceeded expectations and established the presence of the quartz reefs within the first 600m of the dyke bulge with the dyke remaining open.

Initially, the geological model for Tubal Cain, located within the Walhalla gold project, accounted for a depth of 300m and calculated 1.1 million tonnes of high-grade quartz reef material.

The company said additional high-grade quartz reefs are not out of the question at Tubal Cain, with results demonstrating the presence of gold mineralisation in "both the high-grade quartz reefs and the surrounding dyke and sediments".

Further to the confirmation of quartz reefs, Goldstar intersected a "remarkable" 29 mineralised zones in one drill hole that returned four individual samples of grades greater than 30 grams per tonne.

Results included 1.3m at 23.3gpt including 0.35m at 66gpt gold from 442m and 4.35m at 21.07gpt including 0.35m at 211.85gpt gold from 648m.

Goldstar said the drill hole confirmed the strongly mineralised nature of the dyke bulges within the Walhalla field.

"The probability of returning such grades across so many mineralised zones is fairly low, given the nuggetty distribution of gold within the dyke bulge systems. [Goldstar] believes these results are exceptional and provide strong evidence of the potential of the dyke bulges to deliver significant volumes of ore grade material," the company said.

Current drilling has already doubled the modelled size of Tubal Cain from that as defined by Rio Tinto in the 1980s, and Goldstar said the new results would be included in an updated geological model to a depth of 600m.

The company also expects to significantly upgrade the quantified tonnage potential of the dyke bulge.

Goldstar said it was continuing with drilling programs at Tubal Cain to boost confidence in mineralisation below 300m and to target "potential near-surface locations within the dyke bulge for future bulk sampling".

Shares in Goldstar gained 7c (10.7%) to close at 74c today.