Business & Finance
Tue, February 17, 2009Mon, February 16, 2009Fri, February 13, 2009Thu, February 12, 2009Wed, February 11, 2009Tue, February 10, 2009Mon, February 9, 2009Fri, February 6, 2009Thu, February 5, 2009Wed, February 4, 2009Polar Star Mining Corporation: Polar Star Accelerates Montezuma Drilling Program
Published in Business and Finance on Tuesday, February 10th 2009 at 10:20 GMT, Last Modified on 2009-02-10 10:21:54 by Market Wire
TORONTO, ONTARIO--(Marketwire - Feb. 10, 2009) - Polar Star Mining Corporation (TSX VENTURE:PSR) ("Polar Star" or the "Company") is pleased to announce that after a highly successful first phase Induced Polarisation ("IP") program at the Company's flagship Montezuma property (previously announced on January 12, 2009), Major Drilling Chile S.A., who currently has a highly experienced crew in the area, has been engaged to mobilize the first drill rig to site. Drilling is expected to start in approximately 2 weeks. The initial program will be 4,000 metres and will be completed 6 to 8 weeks from its start date.
In addition, Quantec Geoscience has been engaged to complete an additional 50 line kilometres of IP in the areas that gave the best geophysical response on the first phase of the IP program. The preparation of the lines for this program have begun.
About Montezuma
The Montezuma property is located on the prolific "West Fault System" in Region II, northern Chile, and in an area that hosts some of the world's largest copper mines, including CODELCO's Chuquicamata which has been in continuous operation since 1903.
Polar Star discovered a massive IP anomaly on the property and is excited about advancing the exploration program.
"The property has the potential to host a porphyry copper deposit similar to 'Chuqui', and we are pleased that the next phase of work on the property can begin immediately. In light of the positive results received from Quantec, the Board views this project as the Company's top priority and is excited that we are moving ahead quickly with the next phase of exploration." said Stephen Roman, Executive Chairman of Polar Star.
About Polar Star
Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper and uranium. The Corporation's material assets include 20 projects in Chile which are 100% owned covering approximately 146,112 hectares.
Share Capitalization:
Shares Outstanding: 39,241,098 as at February 9, 2009.
Forward-Looking Statements
This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. When used herein, words such as "anticipate", "will", "intend" and similar expressions are intended to identify forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Polar Star Mining Corporation's filings with Canadian securities regulators available on [ www.sedar.com ] or the Company's website at [ www.polarstarmining.com ].
The Toronto Stock Exchange Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.
