Redstar Gold Corp. (OTCQB: RGCTF) operates as a high-grade gold exploration and development mining company. Shares of the gold miner are rallying 17.78%, through early trading on Thursday, June 15, 2017. Over the past month, Redstar Gold Corp. has seen average daily volume of 120,350 shares. However, volume of 3.47 million shares or dollar volume of $367,820, has already exchanged hands on the day.
Shares of Redstar Gold Corp. are gaining on Thursday, after the company released press to comment on recent trading activity at the request of the Investment Industry Regulatory Organization of Canada (IIROC). Management says they are not aware of any material changes to the underlying business or any non-disclosed events. Here is the full press release detailing of the trading activity:
Redstar Gold Corp. Press Release:
Vancouver BC (FSCwire) – Redstar Gold Corp. (TSX.V: RGC, OTCQB: RGCTF, FRA: RGG) (“Redstar” or the “Company”) has been requested by the Investment Industry Regulatory Organization of Canada (IIROC) to comment on the recent increase in the trading volume and price of the Company’s common shares on the TSX Venture Exchange. The Company is not aware of any material change in its business or affairs that has not been publicly disclosed that would account for the recent increase in volume or price.
The Company commenced its 2017 Spring Exploration Program in April 2017, and initiated its diamond drilling program at the Shumagin Gold Zone, within the Unga Gold Project, in May 2017. The 2017 Spring Drill Program, initially totaling up to 5,000m, has commenced on the geophysical anomalies along strike to the southwest of the known Shumagin Gold Zone, with a main goal to initially trace the occurrence quartz-adularia-carbonate breccias along strike of the Shumagin Fault and the footwall splay along approximate 100m centers. Concurrent with drilling, detailed prospecting and soils sample grids will cover the entire footwall basalt/andesite within the areas of the Northern footwall anomalies to locate geochemically anomalous areas along the structures that can be drill tested later during the summer.
About Redstar Gold Corp.
Redstar is well-financed junior exploration company, with a very strong, supportive institutional shareholder base, no debt, and is focused on high-grade gold exploration and advancing its high-grade Unga Gold Project in Alaska. The 100% controlled Unga Gold Project is an intermediate sulfidation epithermal high-grade gold project on a district scale, with the property encompassing approximately 240 km2, and containing multiple high grade gold zones drilled or identified at surface. The former Apollo-Sitka gold mine, located on the southern Apollo-Sitka Trend, was Alaska’s first underground gold mine and the site of historic high-grade (~10 g/t Au) gold production. The Unga Gold Project has extensive infrastructure with daily flights from Anchorage landing on a one mile long paved airstrip and a deep-water port on neighboring Popof Island, and a moderate climate noting it resides at the 55th degree latitude and next to tidewater. In addition, Redstar owns approximately 22.2% of NV Gold Corp. (TSXV: NVX). Redstar also owns 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada.
Neither 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.
Forward-Looking Information This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corporation (the “Company”) expects to occur, are 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 the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.