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Review of Activities 2002
During the past year Nustar Resources Inc. has been very busy
exploring its' three gold projects in British Columbia, Canada. Two
of these projects are at the drilling ready stage. The following
briefly describes the properties and future exploration work:
Christmas Lake Gold Project
A large property that has undergone considerable exploration work and
exhibits many of the characteristics of a porphyry-gold occurrence.
The property's main target area is approximately (2,400'+ x 450'-
600') that in places returned gold assay values of up to 5.9 gm/t.
The Company's efforts in 2002 have returned gold values in the range
of 1.0-1.5 gm/t. A detailed drilling program has been outlined to
determine the size of the mineralized zone.
Miner Mountain Copper-Gold-Palladium Project
The Company has been exploring this property since 1996. An
independent property evaluation just completed recommends a $200,000
initial program by a possible joint venture partner with Nustar in
this project. The program will consist of some additional induced
polarization work to further delineate targets in the overburden
covered areas and subsequent drilling.
Cube Gold Project
This project is currently undergoing geochemical and geophysical
surveys to assist in outlining drill target.
The price of NY spot gold, currently at $354/oz appears to reflect
renewed investor interest due in a large part to increased paper
currency supply during the past two years. Check out the website
which will be updated soon.
Please check out our site:
www.nustarresources.com
Present price: 7c (Canadian) on about 116,000 traded on Friday.
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