Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Vanstar Mining Intercepts 9.0 m of 3.96 g/t Au and 18.0 m of 1.07 g/t Au at Bousquet-Odyno

V.VSR

Montreal, Quebec--(Newsfile Corp. - June 20, 2022) - Vanstar Mining Resources Inc. (TSXV: VSR) (OTCQX: VMNGF) (FSE: 1V8) ("Vanstar", or the "Company") is pleased to announce additional results from its drill program at Bousquet-Odyno project. The results received from seven (7) holes to date confirm continuity of mineralization at depth in the main zone of the project and also show additional mineralization outside of the main zone. Hole BO-22-76 returned a 9.0 m intercept grading 3.96 g/t Au in a zone that is SW of the main zone in a different geological setting and may indicate the beginnings of a new, higher-grade zone.

Holes BO-22-64 through 67 were drilled in the main zone, between the known high-grade zones. Hole BO-22-67 returned an intercept of 18.0 m grading 1.07 g/t Au, including 6.0 m of 1.42 g/t Au and 6.6 m of 1.39 g/t Au. Results from these holes confirm the continuity of mineralization and a possible widening of the mineralized zone at depth just as it was observed in hole 63. See Figure 1 for a longitudinal section showing the location of the holes relative to previously drilled holes by other operators and Table 1 for a list of results to date from the current drill program.

J.C. St-Amour, President and CEO, said, "The current drill program is progressing very well and today's results are improving our understanding of the gold zones on the property. Hole BO-22-76 is interesting as historical drilling in the area had not returned significant results and it is possible that this is a new ore shoot. We plan to follow up with additional drilling in this area. Also of note, holes BO-22-64 through 67 are in a lower-grade area which seems to connect the higher-grade gold shoots of the main zone, allowing for a bulk tonnage target to be developed. Again, more drilling is needed to confirm, but the project's proximity to infrastructure and operating gold mills would reduce future development capital expenditure."

Results announced to date represent approximately 2,500 m of the planned 9,000 m program. Drilling is ongoing and further results are expected throughout the summer.

The following video demonstrates the proximity of the Bousquet Odyno project to infrastructure and the Westwood mill owned by IAMGOLD Corporation ("IAMGOLD").

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/8185/128289_7788393b0494abd9_002.jpg

Figure 1: Longitudinal section of the Bousquet-Odyno Project indicating locations of holes in this news release.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8185/128289_7788393b0494abd9_002full.jpg

Table 1: Results from the 2022 Bousquet-Odyno Drill Program including previously released holes

Hole From (m) To (m) Length*(m) Au (g/t) Metal Factor (g/t*m)
BO-22-63 212.9 213.4 0.5 2.08 1
and 215.5 217.0 1.5 1.99 3
and 229.0 230.5 1.5 1.70 3
and 301.0 322.0 21.0 5.23 110 Previously reported
incl. 308.5 319.0 10.5 10.14 106 Previously reported
BO-22-64 104.0 110.5 6.5 2.10 14 Previously reported
incl. 106.0 109.5 3.5 3.53 12 Previously reported
BO-22-65 196.8 200.5 3.8 1.15 4
BO-22-67 209.5 227.5 18.0 1.07 19
incl. 209.5 215.5 6.0 1.42 9
incl. 220.9 227.5 6.6 1.39 9
BO-22-74 319.0 322.0 3.0 1.74 5
BO-22-75 16.0 17.5 1.5 1.01 2
BO-22-75 81.0 88.0 7.0 0.80 6
BO-22-76 59.5 68.5 9.0 3.96 36


*True widths are estimated at 65 to 95% of the core interval.

Table 2: Drill Hole information 2022 Bousquet-Odyno Drill Program

HOLE-ID EASTING NORTHING ELEVATION AZIMUTH DIP EOH
BO-22-63 678417 5344358 357 350 -70 340
BO-22-64 678547 5344521 356 350 -70 377
BO-22-65 678586 5344500 352 343 -63 274
BO-22-67 678636 5344499 350 345 -55 298
BO-22-74 678051 5344412 339 180 -45 358
BO-22-75 678109 5344451 339 142 -45 325
BO-22-76 678119 5344282 339 142 -45 325

Qualified Person

Mr. Gilles Laverdière, P.Geo, consultant geologist and qualified person under NI 43-101 has read and approved this press release.

About Bousquet-Odyno

Bousquet-Odyno is comprised of 37 contiguous mining claims covering approximately 1,492 ha and is located directly south of highway 117 between the towns of Rouyn-Noranda and Malartic in the Province of Quebec. The Property lies within the Abitibi greenstone gold belt, along the Cadillac break, a prolific gold bearing regional structure that has produced 100 million ounces of gold since 1900. Vanstar can earn a 75% interest in the project from IAMGOLD by spending $4 million over four years. IAMGOLD will have the right to back-in to 50% of the project.

About Vanstar

Vanstar Mining Resources Inc. is a gold exploration company with properties located in Northern Québec at different stages of development. The Company owns a 25% interest in the Nelligan project (3.2 million inferred ounces Au, NI 43-101 October 2019) and a 1% NSR. The Nelligan Project won the "Discovery of the Year" award at the 2019 Quebec Mineral Exploration Association Xplor Gala. Vanstar is also earning 75% into the Bousquet-Odyno project located along the Cadillac Break and owns 100% of the Felix property in the Chicobi Group (Abitibi mining camp, 65 km East of Amex Perron property), the Amanda property, a 7,306 ha property located on the Auclair formation with historic gold showings up to 12.1 g/t Au over 3 meters, and the Frida and Eva properties located in the James Bay area.

Source:

JC St-Amour.
President and CEO
+1 (647) 296-9871
jc@vanstarmining.com
www.vanstarmining.com

The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the TSX Venture Exchange Policies) do not accept any responsibility for the truth or accuracy of its content.

FORWARD LOOKING STATEMENTS:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at
WWW.SEDAR.COM).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128289