Vancouver, B.C., December 29, 2014. Desert Star Resources Ltd. (TSX-V: DSR) (“Desert Star” or the “Company“) announces that it has identified a large Induced Polarization (“IP”) geophysical anomaly resulting from a follow-up Volterra-3DIP survey (performed by SJ Geophysics) at its Red Top Project (Figure 1). The IP anomaly, together with the lithological, alteration and geochemical data the Company previously generated represents a high quality porphyry copper drill target for Desert Star. The Red Top Project is located in the copper-endowed Superior Mining District and contains alteration zonation patterns that are consistent with the top of porphyry copper systems.
Follow-Up IP Geophysics Survey and Results at Red Top Project
Two IP surveys were completed at Red Top between October 9th and 13th, 2014 which consisted of a Volterra 3D Distributed Diamond Array survey and a Volterra-2D Survey (pole — dipole) (Figure 2). The surveys were completed in order to increase confidence in the location, geometry and intensity of the geophysical anomaly first identified in June, 2014 (see the Company’s news release dated June 3rd, 2014). The parameters of the Volterra-3D Survey included a 112-meter distributed diamond array with a line spacing of 300 meters and a station spacing of 100 meters (line azimuth 090°) (Figures 2 and 3). The Volterra-2D line with an active array 350 meters in length, has an azimuth of 330° and a station spacing of 50 meters.
The surveys defined a coincident chargeability high (12 to ?45 msec) and resistivity low (<10 to 800 ohm-m) anomaly within the Red Top Project claim block. The geophysical target features are present from surface to ~600m depth (open at depth) and maintains a consistent size of ~ 2200m x 775m from surface to greater than 500 meters depth (and is open at depth). The IP anomaly is characterized by a chargeability/resistivity pattern typical of porphyry systems, and occurs primarily within prospective Pinal Schist. The IP anomaly is consistent in size, geometry and position with a west-southwest plunging porphyry copper target, previously suggested by geologic mapping.
About the Red Top Project
The Red Top project consists of 148 unpatented federal lode mining claims covering 1,172 hectares, located 8.5 km from the town of Superior, Pinal County, Arizona, and is road-accessible year-round (Figure 1). The Red Top project is situated 8 km northwest of the Resolution Copper Project, a joint venture project owned by Rio Tinto and BHP Billiton, and is one of the world’s largest undeveloped copper projects (Figure 1). Desert Star has optioned the Red Top Project from Eurasian Minerals Inc. (TSX-V: EMX; NYSE MKT: EMXX) and pursuant to the option agreement, Desert Star may earn a 100% interest in the Red Top Project, subject to granting to EMX a royalty equal to 2.5% of net smelter returns (of which Desert Star may purchase 0.5% of the royalty for $2.5 million). Please refer to the Company’s website at www.desertstar.ca for more information about the terms of the option agreement. The Company cautions that it is not implying that it will obtain the same or similar results at its Red Top project as the Resolution Copper Project.
Figure 1. Location of the Red Top project.
Daniel MacNeil, PGeo, Vice President Exploration, Desert Star Resources and Syd Visser, P.Geo, President and CEO, SJ Geophysics Ltd. Qualified Persons as defined by National Instrument 43-101, have read and approved all technical and scientific information contained in this news release.
About Desert Star
Desert Star is a Vancouver-based mineral exploration company focused on the identification, acquisition and development of copper and gold projects located in top-tier mineral belts in the southwestern United States that contain significant historical production, existing mining infrastructure and an established mining culture.
President and CEO, Desert Star Resources Ltd.
For further information regarding Desert Star, please email email@example.com or visit our website at www.desertstar.ca.
Figure 2. Location of the Red Top IP Surveys.
Figure 3. Red Top Volterra Chargeability (3A) and Volterra Resistivity (3B) at -300 meters depth.
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Desert Star believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, Desert Star’s ability to raise sufficient capital to fund its obligations under its property option agreements, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the ability of Desert Star to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to Desert Star’s plans and business objectives for the projects; the general ability of Desert Star to drill test its projects and find mineral resources; if any mineral resources are discovered or acquired, the Company’s ability to monetize any such mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of Desert Star’s management on the date the statements are made. Except as required by law, Desert Star undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.