Alberta Star Development Corp.: Check Assays Increase Gold Grades at Dixie Lake; Drills Mobilized for Phase II Program.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 26, 2004 Tim Coupland, President of Alberta Star Development Corp. (ASX ASX See: Australian Stock Exchange ), listed on 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. and on the OTCBB OTCBB See OTC Bulletin Board (OTCBB). (ASXSF), and Fronteer Development Group Inc. (FRG-TSX, Frankfurt) are pleased to announce that field crews and drill rigs have been mobilized for the phase II drilling program on the Dixie Lake Gold Project in Red Lake, Ontario Red Lake is a municipality and census subdivision 535 km north-west of Thunder Bay, Ontario, Canada. The municipality consists of 6 small towns ( Balmertown, Cochenour, Madsen, McKenzie Island, Red Lake and Staratt-Olsen) and has a local population of approximately 8,500 people. . A 3,000 metre deep drilling program will commence Feb1/2004 and is expected to last approximately 40 days. THE DRILL PROGRAM The objective of the program is to test the down plunge extension of high grade gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. that was intersected in a 10 hole drill program completed in November 2003. Gold mineralization was encountered in all 10 holes and a five metre interval containing visible gold was intersected at a depth of 110 metres confirming the vertical continuity and depth potential of this large gold bearing system. High grade gold mineralization is wide open at depth, and the property is considered to have the potential to host a greater than 500,000 ounce gold resource. CHECK ASSAYS INCREASE GRADE OF HIGH GRADE ZONE Alberta Star is also pleased to report that recent check assays on drill core from November 2003 program have increased the highest grade interval by 10.7 g/t gold. Specifically, the interval in 03-DH-08, containing visible gold, increased from 0.6 metres @ 39.7 g/t gold to 0.6 metres @50.6 g/t gold (1.9 feet @ 1.5 oz/ton). This high grade intercept intercept in mathematical terms the points at which a curve cuts the two axes of a graph. is part of an interval that now runs 4.0 metres @10.7 g/t gold (13.2 feet @0.30 oz/ton) including 1.5 metres of 21.0 g/t gold. Bearing in mind that the average grade of Goldcorp's Red Lake Mine between 1948 and 1996 was 11.8 g/t gold, the results obtained at Dixie Lake Gold Project indicate that the property hosts Red Lake-style grades over mining widths. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Fronteer's President, Dr. Mark O'Dea, "These results are particularly encouraging as we embark on Verb 1. embark on - get off the ground; "Who started this company?"; "We embarked on an exciting enterprise"; "I start my day with a good breakfast"; "We began the new semester"; "The afternoon session begins at 4 PM"; "The blood shed started when the partisans our second round of drilling on the property to test the continuity of high grade gold shoots down plunge". The sheer size and vertical continuity of the gold bearing system on the Dixie Lake Property indicate that it has the potential to expand and develop into a world class Red Lake Belt-style deposit. THE DIXIE LAKE HIGH GRADE GOLD PROJECT Alberta Star has been granted an option to earn up to 50% interest on Fronteer's Dixie Lake Gold Property, situated 25 kilometres south of Placer Dome's Campbell mine which has produced over 10,335,243 ounces of gold at an average grade of 0.575 oz/ton and Goldcorp's Red Lake mine which has produced over 3,736,704 ounces of gold at an average grade of 0.434 oz/ton in the Red Lake Belt, Ontario. THE ALBERTA STAR EXPLORATION TEAM Fronteer is the operator of the Dixie Lake Gold Project, which is supervised by Fronteer's VP of Exploration Dr. Rick Valenta, with technical input from President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Dr. Mark O'Dea, and Alberta Star's consulting geologist, Brian Game, P.Geo. The companies bring considerable expertise to the table with a strong history of exploration and development in the Red Lake Belt. Management and implementation of projects are carried out by geological experts with solid mineral exploration experience. ALBERTA STAR DEVELOPMENT CORPORATION Alberta Star is a leading Canadian mineral exploration company that identifies, acquires, finances and develops advanced staged gold properties throughout the world. Alberta Star is primarily focused on the discovery of gold. It specializes on gold properties with strong data bases, that are fully permitted and drill ready for purchase or option. Alberta Star's focus is to acquire properties where proper due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. has indicated that there is a reasonable expectation of identifying and yielding a world-class deposit for its shareholders. Alberta Star has been actively identifying and targeting several high-grade gold projects that are fully permitted and drill ready, for acquisition in Canada, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Mexico. ALLAN FELDMAN-INVESTOR RELATIONS Investors are welcomed to contact Mr. Allan Feldman, Alberta Star's In-house Investor Relations Investor relations The process by which the corporation communicates with its investors. and Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. Specialist, for all corporate updates at (604) 948-9663. On behalf of the Board of Directors of ALBERTA STAR DEVELOPMENT CORP. Tim Coupland, President This News Release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve that involve various degrees of risk.. The following are important factors that could cause Alberta Star's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. |
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