FairStar reports sampling results at WA iron discovery November 18, 2008

Diversified Australian exploration and development company FairStar Resources Limited (ASX: FAS) reports results of rock chip samples taken from the Company’s recent iron discovery at the Lindsay Dam tenement in Western Australia’s eastern goldfields.

The Company completed a program of 216 grab samples at the iron discovery, which has been named Mahendra’s Find, and the samples were analysed for iron (Fe) and other related elements.

Hematite outcrop from the area was assayed at 65.99% Fe (with 2.2% SiO2, 0.63% Al2O3, 0.011% P, and 2.03% LOI).

Other highlight results include:

Sample LD041 – 60.25% Fe (with 5.9% SiO2, 3.88% Al2O3, 0.031% P, and 3.73% LOI)
Sample LD075 – 60.57% Fe (with 5.54% SiO2, 3.19% Al2O3, 0.025% P, and 3.88% LOI)

Mahendra’s Find is located about 110km south east of Kalgoorlie within the Company’s Kurnalpi Gold project area, close to major rail infrastructure, with the Trans Australian Railway passing 23km south of the tenement area.

FairStar will now continue to progress its exploration program at the tenement with geological mapping, rock chip sampling, airborne magnetic and radiometric survey and other confirmatory work, followed by a planned drilling program.

Click here to read the full announcement.

For further information, please contact:

Kevin J. Robertson
Managing Director
Fairstar Resources Limited
Ph: +61 8 9242 5111
E: kevin@fairstarresources.com

or

James Moses
Fortbridge Consulting
Ph: +61 420 991 574
E: james.moses@fortbridge.com