2004 Exploration Program Underway on Nevada Star's MAN Alaska Property.SEATTLE -- Mr. Robert Angrisano, President of Nevada Star Resource Corp (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : NVSRF)(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE: NEV) ("NEV") is pleased to announce that the $500,000 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2004 field exploration program for the northern section of the MAN Alaska property is well underway. The company is focusing its exploration work on further developing the nickel, PGE, and gold potential in the northern sections of the MAN property, in particular, the Canwell, Rainy, Eureka, and Broxson areas. Work to be performed will include 3D mag-inversion of the northern sections, UTEM data interpretation, min/max electromagnetic studies, gravity work, and rock and soil sampling. The field work started on July 1, 2004. The results from this and other data will be used to identify drill targets for a mid-August drill program. This year's drilling is anticipated to be 2,000 meters of drilling with a 6 1/2 inch reverse-circulation drill. Of particular interest this year is target drilling of a newly discovered, very large embayment area on the Canwell intrusion (Area 4). This embayment was discovered as a result of reprocessing all the data on the Canwell intrusion and incorporating this data into a 3D mag-inversion model. The embayment shows a large feeder to the west connecting to the embayment. Soil and rock samples show elevated levels of PGE's as well as nickel over the embayment area. In addition, UTEM, and min/max anomalies coincide with the location of the embayment. Curt Freeman, CPG CPG central pattern generators. , of Avalon Development Corporation is the Company's Qualified Person who will be managing the drill program this year, slated to start in mid-August. The southern section of the MAN property is now under joint venture with Anglo American Exploration U.S.A. (Anglo USA), who will perform its own exploration program starting this week, pursuant to its agreement with NEV. Anglo USA is a wholly owned indirect subsidiary of Anglo American plc Anglo American plc (LSE: AAL, JSE: ANGLO) is a world-wide group of companies, originally founded in South Africa as a mining enterprise but now extending into other areas. Natural resources remains the focus of its operations. , a global leader in the mining and natural resource sector. Under the terms of the joint venture agreement, Anglo USA can earn a 51 percent interest in the southern portion of the MAN property by spending a total of US $12 million over a five-year earn in period. Anglo USA has the right to increase their interest by an additional 19 percent by completing a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. and an additional five percent by arranging production financing for both Anglo USA and NEV. About the MAN Project Nevada Star's 271 square mile Alaskan property, officially called the MAN Project, began in 1995 and is located 164 miles southeast of Fairbanks and 248 miles northeast of Anchorage -- an area characterized by its anomalously high nickel and PGE concentrations. Exploration results to-date on the MAN property indicate that it has the potential for a significant discovery of these metals which are in high-demand but in short supply globally, especially as the Noril'sk supply diminishes. The MAN Project, which consists of five distinct project areas: Canwell, Rainy/ Eureka, Summit Hill, Dunite dunite Yellowish green to green igneous rock composed almost entirely of olivine. Chromite and magnetite also occur in dunite, as do spinel, ilmenite, pyrrhotite, and platinum in some cases. Dunites may be a source of chromium. Places of occurrence include Dun Mtn. Hill/Fish Lake, and Broxson, is supported by a solid infrastructure: it is accessible from two paved highways and borders the Alaska Pipeline. View the project maps at http://www.nevadastar.com/s/MANProject.asp for a breakdown of the project areas. Nevada Star Resource Corp. is a mineral exploration company that uses the most advanced technology to search for metals that are in high demand, such as platinum. Nevada Star Resource Corp. currently has projects in Alaska, Nevada and Utah. For more information, including maps, photos and project descriptions, visit: www.nevadastar.com. This release was prepared by management of Nevada Star Resource Corp. who take full responsibility for its contents. Neither the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. nor the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. have reviewed or accept responsibility for the adequacy of this news release. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion