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Vanstar Mining Resources Inc. VMNGF


Primary Symbol: V.VSR

Vanstar Mining’s Nelligan gold project joint venture with IAMGOLD (25% VSR/75% IMG), located 60 kilometres SW of Chibougamau, Quebec. Vanstar retains 25% undivided non-contributory carried interest until commercial production. Nelligan is one of Quebec’s largest gold projects containing approximately 5.6 Moz of gold. Vanstar has signed an LOI with IAMGOLD to acquire a 75% interest in their Bousquet-Odyno property. The project is 6km from IAMGOLD’S Westwood mine.


TSXV:VSR - Post by User

Post by garlandon Apr 14, 2020 1:04am
244 Views
Post# 30906134

Nelligan -Ultimate size

Nelligan -Ultimate sizeIf IMG was to complete another 80000m of  exploration drilling into 2021 , this is my estimation of the potential size of the  additional gold  resource at Nelligan.

To the west for 1.0km - add 1.8 million ounces (30 Holes) ( looking like Canadian Malarctic Mine )

To the east for 0.50 km -  add 0.40 million ounces (20 holes ) ( to KTR claim boundary)


At depth to at least 850m with increasing grade for 4.0 km -  add 3.5 million ounces  (60 holes )  (The Goldex mine ) The deepest intersection of ore in the renard zone was intersected at a depthof 520m tvd.in hole NE 19-147

Add the pit shell resource of 3.2 million ounces to these estimates and you get 8.9 million ounces! The 2019-20 drilling results will be my first clue  to see if this will be the case.
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