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Polar Star Completes Surface Drilling Program

04/24/2013


/NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, April 24, 2013 /CNW/ - Polar Star Mining Corporation (TSX:PSR) ("Polar Star" or the "Company") is pleased to announce the completion of its recent 16 hole, 2,500 metre surface drill program at its Chépica gold/copper mine project, near Talca, Chile.

The Chépica property hosts epithermal vein systems, where to date 4 kilometres of veins and stockwork mineralized structures have been identified within a kilometre radius of the mine. The Company is progressively exploring these vein systems.

The drill program was principally designed to test the extension of the main producing vein, Chépica No. 1, and also test a series of other veins previously identified on surface.

Significant Intersections :

Hole No. From To Thickness Gold g/t Silver g/t Copper %
CH 100 137.70 141.00 3.30 3.64 15.06 1.11
CH 101 157.70 166.60 8.90 1.40 12.72 1.15
CH 104 53.00 55.00 2.00 2.28 3.00 0.36
CH 107 66.00 67.00 1.00 2.02 22.20 0.02
CH 110 127.90 135.00 7.10 3.32 8.17 0.80
CH 112 157.45 163.40 5.95 4.72 7.89 0.20
CH 114 153.40 155.30 1.90 4.89 2.47 0.14

ALS Independent assays, gold assays capped at 10 g/t

In March 2013, the Company completed an upgrade of the process plant at the Chépica Mine. The addition of a second ball mill increased the plant throughput capacity from 160 tonnes per day to 260 tonnes per day. With the installation of extra float cells and a larger filtration system, the plant is expected to exceed the nameplate 260 tonnes per day throughput by the end of May.  The commissioning of the second ball mill resulted in March being a record month for mill throughput, at 5,770 tonnes, exceeding the previous record by over 1,000 tonnes.

Colin Bird, President and CEO stated: "The surface drilling results exceeded our expectations and  achieved the goals of further defining the No. 1 vein system to aid future mine development planning and confirmed the continuity of the surface identified new veins. With the process plant upgraded the focus is on the development of the underground mine opening up more ore faces and moving towards full commercial production."

Sampling and Laboratory

NQ-sized drill core was sawn in half at site and sent to ALS Chemex, a fully accredited and certified laboratory service. Samples were prepared at the ALS Chemex facility in Chile, and assayed at ALS Chemex in Lima, Peru.

Drill Hole Loction Data

East North Elevation Dip Azimuth
CH100 240952 6082236 110.5 -50° 045°
CH101 240952 6082236 110.5 -65° 045°
CH102 241030 6082190 110 -50° 090°
CH103 240728 6081519 114 -50° 250°
CH104 240728 6081519 114 -65° 250°
CH105 240798 6081670 107 -50° 250°
CH106 240798 6081670 107 -70° 250°
CH107 240836 6081604 106 -50° 250°
CH108 240805 6081548 104 -50° 270°
CH109 240805 6081548 104 -50° 090°
CH110 240746 6081622 120 -45° 065°
CH111 240746 6081622 120 -60° 065°
CH112 240793 6081471 92 -50° 060°
CH113 240828 6081610 116 -60° 075°
CH114 240942 6081452 91 -50° 250°
CH115 240726 6081485 91 -50° 250°

No significant intersections were recorded from the other drill holes in the program. Intersection true widths have not been determined.

Qualified Person

Pursuant to the policies of NI 43-101, Colin Bird, is the qualified person who has reviewed and approved the technical information contained in this press release.

About Polar Star Mining Corporation

Polar Star Mining Corporation ("PSR") is a TSX listed exploration and development company with a focus on building shareholder value in Chile. The Company's strategy is to use the cash flow from its' Chepica mine (primarily gold) to fund, in part, the exploration program at its flagship Montezuma property and to advance our large portfolio of other world class projects in Chile through joint ventures.

 

Martin Gallon
Chief Operating Officer
Polar Star Mining Corporation
Email: info@polarstarmining.com
Telephone: 1 (540) 256-1444

Or
Colin Bird
Chief Executive Officer
Polar Star Mining Corporation
Email: info@polarstarmining.com
Telephone: (416) 358-3496

www.polarstarmining.com 


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