https://www.caesarsreport.com/reports/report-vanstar-mining-
Vanstar Mining (VSR.V) and IAMgold (IMG.TO, IAG) have released the assay results from seven holes that were drilled during the winter months. IAMgold (which is covering 100% of the exploration expenditures) completed five holes on the eastern extension on the Nelligan deposit while it also completed two exploration holes on the southeastern portion of Nelligan.
As a reminder, Vanstar currently owns a 25% stake in the Nelligan deposit where IAMgold is spending 100% of the expenditures to keep the existing earn-in agreement alive. Once IAMgold completes a feasibility study on the asset (and that will take at least a few more years), Vanstar’s stake will be diluted to a 20% carried interest in the project and a NSR on the original claims of the project. This year, IAMgold will fund the entire 10,000 meter drill program at Nelligan as part of its earn-in agreement and about one third of the total anticipated meterage was completed in the winter drill program.
Vanstar Mining (VSR.V) and IAMgold (IMG.TO, IAG) have released the assay results from seven holes that were drilled during the winter months. IAMgold (which is covering 100% of the exploration expenditures) completed five holes on the eastern extension on the Nelligan deposit while it also completed two exploration holes on the southeastern portion of Nelligan.
As a reminder, Vanstar currently owns a 25% stake in the Nelligan deposit where IAMgold is spending 100% of the expenditures to keep the existing earn-in agreement alive. Once IAMgold completes a feasibility study on the asset (and that will take at least a few more years), Vanstar’s stake will be diluted to a 20% carried interest in the project and a NSR on the original claims of the project. This year, IAMgold will fund the entire 10,000 meter drill program at Nelligan as part of its earn-in agreement and about one third of the total anticipated meterage was completed in the winter drill program.