Vanstar Mining Resources Inc. V.VSR

felix Soft value

[garland]

As promised - an evaluation on Felix

As the hole exists there is approximatley 70.0 m of gold mineralization at an average grade of 1.5g/t.( almost the entire hole as it was only drilled to 101m) The hole ended in  partially silicified argillitic sediments containing disseminated bands of 3 to 7 % pyrite (gold is carried in the pyrite) Therefore by calculation , 20m length X 20m width X 70 thickness x 2.73 ( rock density from nelligan 43-101) =76440 tonnes of rock . Multiply by 1.5 ( average grade) = 114660 grams of gold divided by 31.1 = 3687 ounces of gold in the immediate vicinity of the borehole . As the hole ended in gold bearing sediments , it is reasonable to assume if you deepen the hole you would  have likely encounter at least  another 40 m of gold mineralization ( 110m in total) after taking the hole to 300mTVD.. This equals a new total of 5793 ounces of gold in place.

Now start the step out drilling!   100m to the west of the original hole (same thickness ,same width, same grade)  and you found 28968 ounces of gold !  Go east 100m ( same thickness , same width, same grade) add another 28968 ounces of gold in place. Same story north and south - add another 57936 onces. The numbers do not take long to add up all because we hve the thickness to start with ( half the  exploration battle).

Wildcards -  showing is absolutely open in all directions ( no control anywhere)
                   - it almost starts at surface
                   - increase the width from 20m to 45m- equates to bigger numbers
                    - increase the grade from 1.5g/t - equates to huge numbers
                     - increase the thickness (already very good!) - equates to bigger numbers
                     - increase the strike length ( 1.0 - 3.0 km ) equates to huge numbers
And best of all , it's all ours at 100% with no NSR!!! A single winter drilling program of 10 to 15 300m holes will determine Felix's fate! Put a value on it - can't do it without  drilling and verification that the gold exists.  Nonetheless you can see how quickly a showing like this becomes a significant deposit . Interesting to note that all the land around us has been either recently staked and/or optioned out.

Just for reference , the single borehole is worth approximatly 7.0 million $US (3687 ounces) That's a given based on historical data ( grade and the thickness)


This is a great start and certanly something to think about!!


Cheers and stay thirsty

[wateroperator]

Thanks Garland  Great update as usual Keep it coming!