VANCOUVER, British Columbia, July 07, 2022 (GLOBE NEWSWIRE) -- Vanstar Mining Resources(VMNGF) (FSE:1V8), a gold exploration company, announced assay results from its 2022 winter diamond drill program at its Nelligan joint venture project in Northern Quebec. Vanstar owns a 25% interest and a 1% NSR in the Nelligan project, which won the "Discovery of the Year" award at the 2019 Quebec Mineral Exploration Association Xplor Gala, with IAMGOLD holding the other 75%.
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Image: Vanstar Mining Resources(VMNGF) reports drill results from Nelligan property in Northern Quebec with multiple holes reporting higher than average gold grade and width: Vanstar Mining Resources(VMNGF) reports drill results from Nelligan property in Northern Quebec
For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company along with video comments from J.C. St-Amour, Vanstar’s President and CEO. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Vanstar” in the search box.
The Nelligan Gold project hosts Inferred Mineral Resources containing 3.2 million ounces of gold grading 1.02 grams per tonne gold, with Vanstar having a 25% share.
The 2022 winter diamond drill program, completed by IAMGOLD, consisted of 4,714 metres in 8 holes, with the company reporting that nearly all the holes intercepted multiple wide intercepts of gold mineralization at higher-than-average grades.
Highlights include:
Hole NE-22-194
- 7.9 m of 6.71 g/t gold
- 41.3 m of 1.38 g/t gold
- 69 m of 2.24 g/t gold, and
- 35 m of 1.64 g/t gold
Hole NE-22-192
- 28.0 m of 0.96 g/t gold
- 52.3 m of 1.60 g/t gold, and
- 25.5 m of 1.35 g/t gold
Hole NE-22-193
- 16.5 m of 2.58 g/t gold
- 13.9 m of 4.71 g/t gold
- 57.6 m of 1.38 g/t gold, and
- 48 m of 1.08 g/t gold
Hole NE-22-198
- 27.9 m of 2.31 g/t gold and
- 23.8 m of 3.21 g/t gold
Vanstar has several properties located in Northern Qubec at different stages of development. Vanstar is earning 75% into the Bousquet-Odyno project located along the Cadillac Break. Vanstar also owns 100% of the Felix property in the Chicobi Group, the Amanda property, a 7,306 hectare property located on the Auclair formation with historic gold showings up to 12.1 g/t gold over 3 metres, and the Frida and Eva properties located in the James Bay area.
The shares are trading at $0.37. For more information, please visit the company’s website at www.VanstarMining.com, contact JC St-Amour, President and CEO, at 647-296-9871 or email jc@VanstarMining.com.
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