UPDATE: Redstar Finds High-Grade Gold in Alaska But Shares Nearly 4% Lower
Redstar Gold Corp. (RGC.V) opened unchanged today from Friday's 52 cents close, now down almost 4% lower at day low 50 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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