TriStar Gold Inc. is a minerals exploration and development company. The Company advances mining projects from exploration to production, with a focus on precious metals deposits in the Americas that have potential to become significant producing mines.
TSG’s current flagship project is the 100%-owned Castelo de Sonhos gold project, located in Pará state of Brazil, a paleo-placer that produced 300,000 ounces of gold during the 1980s.
Castelo de Sonhos Gold Project, Pará State, Brazil
The Castelo de Sonhos gold project is situated in the southwestern Pará state, an established mining jurisdiction, approximately 20 km from the town of Castelo de Sonhos, close to power, federal highway, water and labour.
Two billion years ago, a large continent lay near the South Pole, with a chain of lode gold deposits along its central mountain ridge. Gold accumulated in placer deposits along the shores and beaches. In modern times, these now include gold deposits at Tarkwa, Jacobina and Castelo de Sonhos.
Preliminary Economic Assessment (PEA)
Resource Upside Potential
Additional Exploration Targets
The project currently has mineral resources of:
Indicated: 17.7 million tonnes at 1.2 g/t, containing 0.7 million ounces ("Moz") of gold.
Inferred: 39.8 million tonnes at 1.0 g/t, containing 1.3 Moz of gold.
Castelo de Sonhos – An exceptional deposit:
August 6 2019, TriStar closed the largest financing in the Company’s history: $US 8,000,000 from Royal Gold.
Nick Appleyard, TriStar's president and chief executive officer says, "We've grown the resource seven-fold in the past 30 months, and we're excited to now be funded through the Prefeasibility Study (PFS) which is aimed at establishing mineral reserves for the first time and presenting a blueprint for a profitable mine. To this end, we're focusing 20,000 m of infill drilling in Esperanca South; following the PFS we'll turn our attention to expanding resources and reserves elsewhere on our mineral concessions.”
Management and Directors
Nick Appleyard, President & CEO, Director
Mr. Appleyard was former CEO of Chaparral Gold, Vice President of Corporate Development for International Minerals. He has over 25 years international experience in precious metals exploration and mining. He has managed exploration, development and production JVs in North and South America.
Scott Brunsdon, Chief Financial Officer
Mr. Brunsdon was former CFO of Chaparral Gold, International Minerals and Placer Dome North America. He has been a Director and senior manager with several mining companies and has over 28 years experience in public company management, corporate development, public listings, mergers and acquisitions.
Mo Srivastava, Vice President
Mr. Srivastava was founder and President of FSS Canada Consultants and Benchmark Six. He is a geologist and geostatistician with more than 30 years of experience in economic geology, also has been an Advisor to Boards of Directors.
Mark E. Jones III, Chairman of the Board
Mr. Jones was former Founder & Chairman of Brazauro, Founder & Director of Crown Resources, Director of Arequipa Resources.
Brian C. Irwin, Corporate Secretary, Director
Mr. Irwin was former Partner at Dumoulin Black Law Firm, Chairman of Ashton Mining.
Quinton Hennigh, Director
Mr. Hennigh is President and Chairman of Novo Resources; Former Exploration geologist with Homestake, Newmont, Newcrest.
Carlos Vilhena, Director
Mr. Vilhena is Partner at Pinheiro Neto Advogados (Brazil); International Affairs Officer, Brazilian Mining Association.
Leendert G. Krol, Director
Mr. Krol was former Vice President and Director for Newmont.
Tony Brown, Manager of Metallurgical Engineering
Mr. Brown was a Founding Partner and President of MRDI Consultants and Manager of Metallurgical Engineering for Fluor Mining & Metals. He has over 40 years of international experience in mining and metals including metallurgical testing, flowsheet design, feasibility studies, detailed engineering, cost estimating, commissioning and operations.
Mark Cannuli, Technical Advisor
Mr. Cannuli was the Exploration Manager for Chaparral Gold and International Minerals. His experience includes discovering the Inmaculada deposit and includes over 30 years in use of geology, geophysics and geochemistry to identify and assess mineral deposits.
On December 12, 2019, Tristar Gold Inc. reported that it has closed its previously announced brokered private placement of units, including the partial exercise of the agent's overallotment option, for gross proceeds of $2.24-million. The private placement was offered with Canaccord Genuity Corp. acting as agent.
On November 27, 2019, TriStar Gold Inc. (the Company or TriStar) announced that its Board of Directors has appointed Rod McKeen as an independent director of TriStar. Rod McKeen is a retired lawyer with over 35 years of experience in all facets of securities and corporate law, with a focus on the mining and mineral exploration industry. TriStar has also granted, subject to TSX Venture Exchange (“TSXV”) approval, an aggregate of 2,710,000 stock options to certain officers, directors, employees and consultants in accordance with the Company’s current stock option plan.
On November 25, 2019, Tristar Gold Inc. has entered into a letter agreement with GoldSpot Discoveries Corp. to use its data-driven science, artificial intelligence and machine learning capabilities to advance Tristar's Castelo de Sonhos gold project.
On November 21, 2019, Tristar Gold Inc. announced the first results from the drilling campaign now under way at its Castelo de Sonhos gold project. This campaign aims to upgrade confidence in Mineral Resources in the Esperanca South region of the project for the purpose of Mineral Reserve calculations in the pre-feasibility study. The assay laboratory has now reported results for 20 of the reverse-circulation (RC) drill holes (out of a planned total of approximately 200 holes); all of these lie on eight adjacent section lines spaced 50m apart.
On November 07, 2019, TriStar Gold Inc. announced that its common shares have been accepted for trading on the OTCQB, a U.S. stock market that is based in New York City and operated by OTC Markets Group. The shares will trade on the OTCQB under the ticker symbol TSGZF and will commence trading today, November 7, 2019.
On October 22, 2019, TriStar Gold Inc. announced that a second drill rig is now operating at Castelo de Sonhos as part of the in-fill drilling program of approximately 200 holes (20,000 to 25,000m) that aim to increase confidence in resource estimates which will serve as the basis for the pre-feasibility study slated for completion by the end of 2020. TriStar was also announced that Brazil’s National Mining Agency has published its approval of final exploration reports that, with previously approved reports, cover all of the areas in the Company’s December 2018 PEA life-of-mine schedule. “With two rigs, we’re able to make rapid progress on the pre-feasibility program” Mr. Nick Appleyard, President and CEO, commented. “Final approval for the reports that cover the optimized pits is an important milestone on the path to permitting.”
On September 12, 2019, Tristar Gold Inc. announced that the Infill drilling has started at Castelo de Sonhos. This campaign focuses on Esperanca South, with approximately 200 holes (20,000 to 25,000m) that aim to increase confidence in resource estimates which will serve as the basis for the pre-feasibility study (PFS) slated for completion by the end of 2020. The first reverse circulation rig began drilling this week; a second will begin in the coming weeks.
On August 8, 2019, the TSX Venture Exchange has accepted for filing a royalty agreement dated Aug. 2, 2019, between a subsidiary of TriStar Gold Inc. and a subsidiary of Royal Gold Inc., pursuant to which the Company has granted Royal Gold up to a 1.5-per-cent net smelter return (NSR) royalty on TriStar's Castelo de Sonhos project, Brazil, for total consideration of US$7.5-million.