Monday, 8th October 2007 (1591 views)

Goldstar Resources has announced its quarterly activities report, calling the period ending September 2007 "highly productive".

The company reported that "major milestones" have been achieved at its Eureka and Tubal Cain projects, located on the Walhalla gold property in the East Gippsland region of Australia.

Positive results of a bulk sampling program at Eureka have moved the site forward into early development stages to become Goldstar Resources' first production centre on the property.

A definitive feasibility study is now being carried out on the Eureka project and is estimated to be complete by the end of the calendar year.

Meanwhile, drilling on the company's Tubal Cain project, located five kilometres north of Eureka, has yielded positive results and is now being considered a large-scale development opportunity for the company.

A mid-tier Australian gold producer, Goldstar Resources currently has three jointly-owned mining properties in Australia other than the Walhalla property.

According to the company, Goldstar's short-term focus is to bring both the Eureka and Tubal Cain projects into full production.

 

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