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Megastar Identifies Favourable VMS Environment and Expands
RALLEAU Cu-Zn Property
Friday January 26, 3:00 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 26, 2007) -
Megastar Development Corp. (TSX VENTURE:MDV - News; FWB:M5Q) is
pleased to provide an update of the 2006 diamond drill program and
work slated for 2007. The company has acquired 17 new mineral
claims contiguous to its 100% owned RALLEAU property located 40 km
east of Quevillon, Quebec. The 2006 diamond drilling program
intersected disseminated, stringer and thin massive sulphide
mineralization over metric widths. Coring of sulphide
mineralization and the identification of a new volcanogenic massive
sulphide (VMS) alteration package prompted the company to stake
additional claims to the east.
Megastar completed five diamond drill holes for a total of 1,545.7
meters. Drilling was aimed at testing coincident Magnetic, DeepEM
conductors and favorable geology. Dr. Mathieu Piche, Ph. D, Geo.,
an independent qualified person, completed the core logging and
sampling as well as the assessment report. All EM conductors are
explained. While no economic Au, Ag, Cu or Zn mineralization was
found in the assayed samples, local anomalous values correspond to
the geochemical alteration. Geochemical data was used by Dr. Piche
to characterize the rock types as well as their alteration type and
intensity.
The whole rock analyses show Na2O depletion in the footwall.
Several samples have strong K2O enrichment within the hanging wall,
which is typically seen associated with many Abitibi VMS Deposits.
In addition, DDH MAR-06-01 crossed a significant zone of
sericitized rhyolite, also considered a key element in VMS
exploration. The company has therefore added a total of 17 claims
to the east of this hole where the strong sericite alteration
potentially intensifies.
Dr. Piche states that, "...The RALLEAU Property rocks could
therefore have been affected by carbonate, K feldspar and sericite
minerals dominated alterations. Such alterations affecting
intermediate to felsic calc-alkaline volcanic rocks is found in the
host rocks of the Selbaie VMS to epithermal base metals deposit of
Quebec, northwestern portion of the Abitibi Greenstone Belt (Piche,
in press.). It is also a major feature of Mattabi type VMS deposits
(Morton and Franklin, 1987)."
The Board of Directors has approved an additional $250,000 budget
for 2007 in order to expand exploration efforts over the new
property limits. The program will include geophysics, mapping and
additional diamond drilling.
The RALLEAU Property is located within the Abitibi Greenstone Belt
in Quebec. It covers a favorable area of VMS mineralization
approximately 20 km southeast of the Breakwater's (TSX:BWR - News)
Langlois mine hosting reserves and resources of 8.3 MT of 11%Zn,
0.8%Cu and 53 g/t Ag (Breakwater 2004 annual report). Previous
surveys identified anomalous Cu-Zn VMS mineralization on the
property. Input anomalies within the favorable felsic volcanic
rocks are coincident with anomalous base metal values on surface.
Chip sample results elsewhere in the region returned values up to
1.56%Cu, 17.2 g/t Ag over 14 meters.
ABOUT MEGASTAR DEVELOPMENT CORP.
Megastar Development Corp. is an emerging resource company engaged
in the acquisition, exploration, and development of mineral
properties in Quebec and British Columbia. Megastar is listed on
the TSX Venture Exchange under the trading symbol "MDV" and on the
Frankfurt Stock Exchange under the trading symbol "M5Q".
ON BEHALF OF THE BOARD OF DIRECTORS
Dusan Berka, P. Eng., President & CEO
Megastar Development Corp.
President & CEO
(604) 683-6648
(604) 683-1350 (FAX)
Website: www.megastardevelopment.com