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Vanstar Mining Resources Inc. 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 Feb 11, 2021 6:54pm
239 Views
Post# 32547887

questions answered

questions answeredFirst of all I understand IMG is looking for a rig ( left it far too long) to finish the remaining 6 holes of the summer program  - 4 to the south and southeast ( deep holes ) and 2 to the west which required winter conditions. Hopfully they have found a rig - perhaps we can give them our rig when we are finished at Felix if they are still looking. It is brutally cold up there right now - the lakes would be frozen solid - would be nice to see a continuation of drilling on the ice that IMG did back in 2019.
 
ANYTHING WOULD BE GOOD!!!  so get at it!


On to Felix

Very comprehensive mag survey  -  literally dozens of drilling locations - so you need to high grade them.  Hard information is very limited - virtually no outcrop and only a handful of previous drilling locations - most of which cover the iron formation to the extreme north of the survey.
The key area is around the discovery hole 726-06-1.  In previous posts I have gone into great detail about this gold showing - basically 70+m of 1.8g/t. I am assuming this hole is twinned now and deepened to 300m . If the gold continues ( basically gold in pyrite in graphitic argillites) then you cold have a economic discovery  in excess of 120m, This is huge as it is very difficult to find any gold accumulation of this THICKNESS anywhere!! The discovery hole was the only location to be drilled on a HEM/VLF anomaly on the claim block - very similar to the BMEX efforts 900m to the north of us.

I make reference to the VSR website Felix  Project last map on that page - at the very bottom The map shows all the locations including 10 additional proposed locations (Should have been included in the news release)  In summary  :  Holes FE 21 -01 to 05 cluster around the discovery hole targeting  earlier HEM/VLF anomalies along a very extensive polarization anomaly (shear zone ) that the discovery hole sits on. -  other locations target magnetic destruction on the iron formation . All in all  - very good locations in immediate proximity to the known gold entity ( I did an 8 page report in this area earlier and sent this to management- looks like they used it ).
Moving away from this area , hole 21-06 targets a very substantial fault displacement within the iron formation and 21-10 targets  a strong magatem  conductor anomaly. 21-07 targets a strong magatem anomaly in a magnetic low ( similar to Nelligan ) and 21 -08 and 09 additional large faults on magnetic highs ( lode gold deposits  similar Monster lake and BMEX)

Basically,  there is a large diversity of geophysical  anomalies on the claim block.
This specific map also shows 10 additional proposed locations - all targeting these varoius anomalies. I assume some or all of these locations could be added to this phase of drilling . All depends on the VISUALS and I am hoping the company expands upon this in the future.

This is a very comprehensive RANK exploration program with huge distances between holes. Any discovery would be significant. I believe the program targets the best anomalies along with saturating the area around the discovery hole - and naturally there are a dozen or more  features not tested in this first go around! It will take time to get the final results but we do know what to look for in visuals . News from BMEX will help - especially any VG. Remember , Nelligan had virtually no outcrop , only a few drill holes with no leads but had compelling geophysics. Felix has compelling geophysics and 70+m of gold mineralization in one of the few holes drilled ( only to 103m) and no one has thought to assay the iron formation for gold! .WE own all of the iron formation!!! and the Abitibi contains several large iron formation gold deposits!
 
I agree , this is not Nelligan -BUT we do own it 100% with no nsr attached !I  It is a well constructed /conceiived program and should bear some very compelling results that hopefully absorbs the negative slow playing of Nelligan

once again -  waiting on results and visuals - stay close and have patience

Garland


P.S.  Where is  the grim reaper  - has he completely abandoned us? dumping stock? how can you be such a great cheerleader and then quit when nothing has changed!
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