MONTREAL, May 04, 2020 (GLOBE NEWSWIRE) — Vanstar’s management announces the acquisition by map staking of two separate mining blocks totaling 88 new claims covering 4,533 hectares in the Eeyou Istchee Territory in James Bay.
The company has also staked 7 other claims which will be added to the Amanda project, located in the same territory. The Amanda project now includes 145 claims for a total area of 7,468 hectares.
Eva and Frida blocs
The underlying rocks composing the Eva and Frida properties – comprising 43 and 45 claims respectively – are part of the Yasinski Group and are of Archean age. The rocks are mainly composed of basalts and andesite sedimentary levels of sandstone, conglomerates and iron formations.
The properties are located near the Sakami fault which is an important gold metallotect in the area. Indeed, there are several gold showings and deposits along this flaw including the Quebec Precious Metals Corporation’s Sakami project. This company announced recently the discovery of a 1.15 g/t Au over 80.1 m intersection on the Sakami’s project. The intersection is located at the contact between volcanic lavas and sediments comprising iron formations and located near the Sakami fault.
The Eva block is located in this same geological unit.
Several NW-SE direction faults also cross the Frida block. The gold potential of these two mining blocks is demonstrated by the presence of magnetic axes, which reveal presence of iron formation as well as faults from which several gold showings in the area are related.
The company plans to start the exploration work on these projects as soon as it will be possible.
Finally, the management would like to announce the appointment of Mr. Luc Gervais to its board of directors. Mr. Gervais has 35 years of engineering, construction and maintenance experience in the mining and metallurgical sectors. He has held several management positions for metallurgical producers as well as for contractors and consulting engineering firms. He has directed numerous studies for mining companies and worked on various projects in Canada such as the Perseverance mine, extension of Mont-Wright in Fermont, extension of potash factories in Colonsay and Esterhazy, Saskatchewan, as well as setting up the Port Daniel Cement Plant. Abroad, he worked on the design of the incineration gas treatment of electronic components at Micro Metallics, in California, design and installation of a Noranda Reactor at the Daye Corp. foundry, in the Hubei province, China, commissioning and setting-up a lithium pilot plant in Centenario-Ratones in north-west Argentina. Mr. Gervais has a strong business experience, he is a graduate mining engineer from Laval University and a member of the Order of Engineers of Quebec (OIQ).
“We are very happy to welcome Mr. Gervais to our company. His vast experience will help us to better assess various advanced projects that may be submitted to us in the future,” mentioned Mr. Guy Morissette, the company’s CEO.
This press release was read and approved by Mr. Gilles Laverdière, consulting geologist and qualified person under the NI 43-101 Canadian standard.
The TSX Venture Exchange and its regulator (as defined in the TSX Venture Exchange policies) accept no responsibility for the truthfulness or accuracy of its content.
|Sources:||Sébastien Plouffe, VP – Public Relations|
|Gary Claytens, VP – Western Corporate Development 604-761-3233|