International Star CEO Letter to Shareholders
October 27 2015 - 9:33AM
Access Wire
TUCSON, AZ / ACCESSWIRE / October 27, 2015 /
International Star, Inc. (OTC: ILST) a mining and exploration
company focused on acquisition and development of undervalued
precious metal assets, is pleased to provide a letter to
shareholders from CEO Michael Shea.
Dear Shareholders and Friends of International Star:
I wanted to take this opportunity to share with you the
excitement and progress your Company has made and the steps
required to put the Van Deeman Gold Project into production. ILST
maintains its corporate website, http://www.ilstholdings.com to
keep our investors and interested parties updated on current
activities as well as contact information. Near term activities
that will be announced are a Webcast of site visits by our Mine
Engineer and crew. We have received requests from several
interested shareholders regarding a visit to the mine site. We are
looking into accommodating this request.
I would like to start this update by iterating why we are
committed to this project:
Status of Project:
The Van Deemen project in North Western Arizona, is a near term
gold production project which is in the permitting process with the
federal, state, and local agencies. Based on internal analysis, we
show the project is economic even in today's low gold price
environment. It is located in the most "mining friendly" County
(Mohave) in the #1 mining State of Arizona. Access is via
established tertiary roads across gentle terrain 5 miles from U.S.
Hwy. 93, 50 miles from Kingman Arizona and 65 miles from Las Vegas
Nevada. Kingman is a traditional source of skilled mining labor and
mining supplies & equipment while Vegas serves as an air, rail
and highway transportation hub.
The Van Deemen is a relatively small, low capital cost project,
ideally suited for open pit mining and heap leach processing. The
ore outcrops on surface, negating the need for a pre-production
stripping operation. Final design of leach pads, ponds, carbon
adsorption/desorption units, assay and ancillary facilities will be
to industry standards and construction will be fast and straight
forward. Mining and crushing operations will be contracted out,
allowing for quick mobilization of men and equipment. Training of
process personnel will be conducted concurrently with process
facilities fabrication and installation. Gold will be recovered
within 90 days of the green light for construction/mining being
flashed.
ILST management has made significant progress to bring the
project into project into production since it took over the project
in late 2013.
Completed
- Historic Resource of 34,000 ounces of gold
was confirmed using drill hole information available.
- Re-Assay drill hole pulps - Comparing 2014
assay results from Skyline to 1986 historic assays from Chemex
Labs, shows a 98% correlation between samples;
- Metallurgical Testing shows the ore is
amenable to simulated heap leach cyanidation treatment at an 80%-1"
feed size. Column leach test gold recovery was 69.8% in 74 days of
leaching and rinsing;
- Acid Based Accounting indicates this material
has no potential for acid generation due to the net neutralizing
capability and the low pyritic sulfur content. This eliminates acid
mine water discharge concerns and makes permitting easier.
In Progress
- Upgrade Historic Resource Estimate utilizing new
drill hole information;
- Permitting - obtain permits from Federal, State and local
government agencies concurrently, including Mine Plan of Operations
from the BLM;
- Conceptual Mine Design;
- Undergo NEPA (National Environmental Policy Act) review after
MPO.
Critically important for the development/Mine Plan of Operations
is the completion of the Resource Estimate/Technical Report which
will provide the resource and economics needed for the Mine Plan of
Operations and engineering studies.
We are currently looking to raise additional capital to fund the
permitting, development and construction of the mine site in
several tranches with initial funding targeted to complete the
Technical Report, 2nd tranche to complete all permitting and Mining
Plan of Operations. The last tranche will provide for construction
and commencement of mining operations.
International Star has a bona fide deposit, in a stable
jurisdiction, with real potential for development. A strong
permitting effort and considerable engineering refinement is
required prior to production, however management is confident that
the skillsets necessary for the task are in hand.
Management is excited to showcase the project on tomorrows
Virtual Mine Tour presentation at 11AM PST. To
attend this important event please sign up here:
https://attendee.gotowebinar.com/register/3415650833847211778.
Regards,
Michael Shea
International Star Inc.
1790 E. River Rd. Suite #213
Tucson, AZ 85718
(203) 210-5614
mshea@ilstholdings.com
SOURCE: International Star Inc.
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