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UPDATE: Redstar Continues Slide Even After Finding High-Grade Gold in Alaska

Redstar Gold Corp. (RGC.V) is still in the negative territory on Monday afternoon, down more than 14% near day low 43 cents even after announcing the results from recent drilling on the Unga project in Alaska.

The company said highlights from the drilling returned wide zones of gold mineralization, 21 meters of 4.02 g/t gold that also included bonanza grade intervals of 1.0 meter of 43.90 g/t gold. Scott Weekes, President of Redstar, said "Our results have confirmed the presence of an extremely rich high-grade vein system, and we are also impressed with the discovery of wide zones of near surface gold-silver mineralization."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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