|AuRIC NEWS >||10/04/05 >|
The recent drilling program completed on the Detrital Wash property resulted in confirming earlier findings on the property. Under the supervision of RMC, Ltd., a drilling team from Layne Christensen successfully drilled six holes, three on the eastern border of the Wash, and three holes on the west. The first hole was drilled to a depth of 100 feet, with bedrock being encountered at 80 feet on the second hole, and at 55 feet on the third hole. Once the drilling crew moved to the west side of the property, the forth hole was drilled to 140 feet, and bedrock was once again encountered at 35 feet on the fifth hole and at 50 feet on the last hole. The holes were drilled at a diameter of 5.25 inches, with samples taken every 10 feet. The drilling program was accomplished in less than three days, and resulted in 44 samples.
Once the 44 samples were blended and divided under the supervision of Richard Bybee, consulting geologist, a full set of samples was sent to two separate laboratories for analysis. Each and every sample resulted in some combination of precious minerals. Assays produced the following results:
Gold Silver Platinum Palladium High 0.012 0.67 0.014 0.002 Low 0.001 0 0 0 Average 0.002 0.082 0.008 0.0009
On the surface these numbers may appear low, but when put into a context of value per ton, and then further expanded into yearly gross income, running 20 tons of concentrate a day, it is very encouraging.
Value on 9/30/05 Yearly Gross High $ 17.98 $ 11,147,290 Low $ 1.61 $ 1,000,060 Average $ 9.63 $ 5,968,592
Prior to the latest round of testing, all testing has been concentrated in the original 1,280 acres leased in the Detrital Wash by International Star, which have all produced favorable results. In fact, the bulk sample taken in 1998 and analyzed by AuRIC Metallurgical Laboratories in Salt Lake City produced;
Gold Silver Platinum Palladium Oz. per ton 0.812 1.294 0.042 0.02 Value today $381.64 $9.71 $39.19 $4.06
Resulting in a yearly gross of $271,184,784 at today's prices, running 20 tons of concentrate a day.
More recently, in March of 2004, management presented fifteen samples to AuRIC Labs for analysis. The samples were taken by management from various areas in the Wash. Results of the testing was;
Gold Silver Platinum Palladium High 0.078 0.414 0.024 0.006 Low 0.008 0.059 0.01 0.001 Average 0.0304 0.1278 0.0187 0.0037
When put into a context of value per ton, running 20 tons of concentrate a day;
Value on 9/30/05 Yearly Gross High $ 61.05 $38,094,888 Low $ 19.60 $12,227,904 Average $ 33.42 $20,854,308
The greatest value of the most recent testing is the proof that extractable minerals exist across the full breadth of the now existing 22,000 acres leased by International Star, with the concentration of greatest value in the Wash itself.
Star is now in discussions with production facilities and financial entities regarding the feasibility of moving directly into production on the Detrital Wash property. International Star has discussed the process and procedure of going into production on the Detrital Wash property with BLM (Bureau of Land Management) authorities who are responsible for maintenance of the property. The forms necessary for permitting have been received and are in the process of being completed. In the meantime, while the paperwork is being processed and bids taken to go into production, Star management has turned its focus once again to its Wikieup property located approximately 100 miles south of the Detrital Wash.
International Star obtained rights to 51 load claims outside of Wikieup, Arizona, in December, 2000. Wikieup is a more remote location and the logistics of mining the property has been the only deterrent to this point.
Preliminary testing had been preformed on the property in 1997, and Star recently ran additional testing. Results of the latest testing were;
Gold Silver Platinum Palladium Oz. per ton 1.77 0 2.54 0.40 Value today $831.90 $0 $2,369.82 $81.20
Yielding a yearly gross of $2,035,410,400 at today's prices, running 20 tons of concentrate a day.
International Star will continue to pursue means to expand its exploration activities on both its Detrital Wash and Wikieup properties, either by seeking additional capital through loans or private placements of its securities, or possibly entering joint venture arrangements with one or more other, more substantial companies. However, there are no arrangements now in place to further fund the company by any of these means, and the outcome of the discussions with other entities cannot be predicted. If the company raises capital by selling its equity stock, the proportionate ownership of existing shareholders will be diminished.
For further information contact Dottie Wommack McNeely at (702) 897-5338.
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results to differ materially from forecasted results.
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