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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

Comment by Warlockkkon May 10, 2021 10:04am
112 Views
Post# 33164250

RE:Nelligan news and Grandich goes into silent mode

RE:Nelligan news and Grandich goes into silent modeGood thing that Warlock didn't go into silent mode! Nothing new here. So IMG will drill a few more holes this year, starting in June, so lets say they take 1.5 months of drilling, then another 2 months at the lab, then we read the infill drilling shows exactly as expected, and that they hit some nice low grade holes 40m of(1-2g/t) in a couple step out holes, then they say they will redo the resource calculation, which will probably come out early next year, then at that time (NEXT YEAR) I would expect a nice pop in the S/P provided that investors are still interested in a 20% J/V high bulk/low grade situation. 
The other scenario that Reaper hints at is some sort of amalgamation between VSR & SUP combining the Felix with Lac Surprise, which will could be a good idea providing the drill shows positive results, the only draw back being the years of drilling it takes to actually prove up a high bulk/low grade deposit.
Combining both companies into one doesn't make sence for VSR considering they do have a percentage of a sure thing with IMG, where SUP's other plays are much higher risk, especially with the locals at the TPK.
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