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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

Comment by drzaconon Dec 06, 2023 8:22am
139 Views
Post# 35770552

RE:Maybe a better

RE:Maybe a better
to unclebubby
 
there is no proven or probable ounce of gold on Nelligan. There are only indicated (2M) and inferred (3.2M) ounces... before making it a proven and probable resource it will take a lot of additional drilling and it will be necessary to demonstrate the economics before 'include in the proven resource. Recovery will also need to be higher than it currently is (around 80%). Many years of pleasure to wait for maybe!
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