2019News

Vanstar Announces 1.26 g/t Au Over 123.7 Meters on the Nelligan Project

By Tuesday, August 13, 2019 October 23rd, 2019 No Comments

LA PRAIRIE, Quebec, Aug. 13, 2019 (GLOBE NEWSWIRE) — The management of Vanstar Mining Resources Inc. (“Vanstar”) is pleased to announce that its partner IAMGOLD Corporation (“IAMGOLD”) has intersected in hole NE-19-138 a gold zone of 123.7 meters grading 1.26 g / t Au on the Nelligan joint venture project (IAMGOLD Corporation: 51%, Vanstar Mining Resources Inc.: 49%) and located 60 kilometers southwest of Chibougamau, Quebec, Canada. The Company’s management is also reporting results of the remaining twenty-eight (28) diamond drill holes totaling 10,558 metres completed as part of the 2019 drilling program.

The table below shows the main results of the last 28 surveys from the 2019 winter campaign:

Renard Zone:

  • Drill hole NE-19-134: 25 metres grading 1.19 g/t Au

    and 14 metres grading 2.26 g/t Au
    includes:   4 metres grading 5.92 g/t Au

    and 59 metres grading 0.90 g/t Au
    includes:  2.5 metres grading 5.02 g/t Au

  • Drill hole NE-19-131 : 32.8 metres grading 1,66 g/t Au

    and 33 metres grading 1,11 g/t Au

  • Drill hole NE-19-126:  34.5 metres grading 1.75 g/t Au
    includes: 7 metres grading 4.69 g/t Au

    and 20.8 metres grading 1.54 g/t Au

  • Drill hole NE-19-138: 123.7 metres grading 1.26 g/t Au
    includes:  8.5 metres grading 4.25 g/t Au
  • Drill hole NE-19- 140: 15 metres grading 2,26 g/t Au

    and 47 metres grading 0,96 g/t Au

    and 21 metres grading 1,13 g/t Au

  • Drill hole NE-19-143: 37 metres grading 1,81 g/t Au
    Includes: 1,2 metre grading 28,2 g/t Au
  • Drill hole NE-19-144: 16,5 metres grading 1,92 g/t Au

    And 37.5 metres grading 2 g/t Au
    Includes: 4.5 metres grading 9,49 g/t Au
    Includes: 1.5 metre grading 20,9 gt Au

  • Drill hole NE-19-145: 50,2 metres grading 1,82 g/t Au
    Includes:  0.9 metre grading 20,5 g/t Au
  • Drill hole NE-19-146: 30.6 metres grading 2,87 g/t Au
    Includes: 1,5 metre grading 24,4 g/t Au
  • Drill hole NE-19-147:  22 metres grading 1,05 g/t Au

    and 16.5 metres grading 1,35 g/t Au

    and 25.5 metres grading 1.92 g/t Au

    and 24.0 metres grading 1.09 g/t Au

    and 21.3 metres grading 3.41 g/t Au
    includes: 1.5 metre grading 39.1 g/t Au

  • Drill hole NE-19-149:  17.3 metres grading 5.5 g/t Au

    and 31.2 metres grading 1.03 g/t Au

Additional tables accompanying this announcement are available at: http://ml.globenewswire.com/Resource/Download/d9532fca-7f73-4cfb-b364-aade0de5835f

The 2019 diamond drilling program was designed to infill and test the continuity of the mineralized zones of the Renard mineralized system. The program specifically targeted the shallower part of this broad mineralized corridor to confirm and define its extension to the surface. Most of the drilling has achieved the objectives desired by the program.

“This 2019 winter program has generated a set of results that are highly consistent with our expectations, and to date, we remain very confident that the current and future work being done on Nelligan will materialize into a high quality gold deposit,” said the CEO of the company, Mr. Guy Morissette.

In a separate press release on the recent results, Craig MacDougall, Senior Vice President, Exploration for IAMGOLD stated: “We are very pleased to have all of the 2019 drilling results in hand and we are now working to incorporate the new results into our deposit model to support the completion of a mineral resource estimate expected in the second half of the year. Once completed, this will mark an important milestone for the project and a significant achievement by our exploration team. It is also important to note that there is considerable potential to expand the mineralized zones as the Renard zone remains open at depth and to the west along strike.”

Nelligan Project: https://www.globenewswire.com/NewsRoom/AttachmentNg/733c05ef-2a76-49a0-a771-6c38b439fea5

Next Steps

Together with ongoing geological, geochemical and structural studies, assay results from the 2019 drilling totaling 17,558 meters will be integrated to support the development and refinement of a deposit model with the objective of completing an initial 43-101 compliant resource estimate in the second half of 2019. Initial metallurgical tests are also in progress and the results will be used to design future testing programs.

Field activities for the summer season have commenced and will focus on a geological mapping program within the larger property holdings surrounding the Renard discovery to improve the understanding of the structural regional framework and to prospect various geophysical and structural features identified for follow up.

This press release has been read and approved by Mr. Gilles Laverdière, P.Geo. and Qualified Person under National Instrument 43-101.

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.

Source : Guy Morissette, 819-763-5096
CEO Ressources Minières Vanstar Inc.
gmvanstar@gmail.com      www.vanstarmining.com