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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 Sep 17, 2020 5:20pm
247 Views
Post# 31578384

monster lake

monster lakeMonster Lake is a small , high grade hydrothermal/shear zone deposit .It is about one seventh the size of Nelligan ( 43-101 reserves only) and yet recieved over twice the amount of drilling as did Nelligan. This sale concludes the aquisition of a small satellite deposit who's sole purpose would be to feed ore into a facility at Nelligan or perhaps Westwood - Part of IMG's "spoke and wheel" program. IMG continues to consolidate in the Nelligan area - Obviously Toma Gold was keen to get rid of the property as IMG paid much less than they did for the Monarch Gold property earlier on.  None the less, nice to see IMG "grooming " the Nelligan area for their future plans . Interesting to note - they did the aquisition for shares again!!   We are next BUT do we want  IMG shares? ( price needs to drop)
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