Nelligan up and running VANSTAR ANNOUNCES DRILLING RESUMES AT THE NELLIGAN PROJECT
Montreal, July 18, 2023 – Vanstar Mining Resources Inc. (TSX.V:VSR) (OTCQX:VMNGF) (FSE:1V8) (“Vanstar”, or the “Company”) is pleased to announce that fire bans in the area of the Nelligan joint venture project (IAMGOLD Corporation (“IAMGOLD”): 75%, Vanstar: 25%) have been lifted and that drilling has resumed with two drills on the property.
A 10,000-metre drill program is planned on Nelligan for 2023. Drill results from the first 3,381 metres were announced on July 5, 2023, demonstrating that mineralization extends to the east of the Nelligan deposit. A minimum of 5,000 metres is planned to focus on infill and extension drilling in the central and western parts of the Nelligan deposit. One drill will begin on the main resource area while the second drill will focus on the western extension. Approximately 1,500 metres of exploration drilling is also planned to continue to evaluate other targets located elsewhere on the property. In addition, an MMI soil survey is also planned for this summer to support future exploration targeting.
J.C. St-Amour, President and CEO, said “I am pleased to report that the 10,000-metre drilling program for 2023 has resumed on the Nelligan project. I am confident that the program goal of expanding the Nelligan resource will be achieved. The deposit remains open in all directions, especially at depth, where we have seen some holes return better than average grade and widths, suggesting there is ample room for additional expansion and growth.”
The Nelligan Gold project (on a 100% basis) hosts Indicated Mineral Resources of 2.0 million ounces grading 0.84 g/t and Inferred Mineral Resources containing 3.6 million ounces of gold grading 0.87 g/t Au (refer to Vanstar’s news release dated February 23, 2023).
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+ the key part of Amanda deal J.C. St-Amour, President and CEO, said “This agreement with Mosaic will allow a significant amount of exploration work on the Amanda project at no cost to Vanstar. Shareholders will continue to maximize their exposure to the value in the Nelligan project while having exposure to the exploration upside generate by exploration activities at Amanda.”