News

Vanstar Mining Intercepts 5.23 g/t Au Over 21 m, Including 10.14 g/t Au Over 10.5 m at Bousquet-Odyno and More Than Doubles Drill Program to 9,000 metres

May 30, 2022

Montreal, May 30, 2022 – Vanstar Mining Resources Inc. (TSX.V:VSR) (OTCQX:VMNGF) (FSE:1V8)  (“Vanstar”, or the “Company”) is pleased to announce partial results from the first two holes drilled at the newly optioned Bousquet-Odyno project. Hole BO-22-63 returned an intercept of 21 metres (m) grading 5.23 g/t Au, including 10.5 m grading 10.14 g/t Au. Hole BO-22-64 returned an intercept of 6.5 m grading 2.10 g/t Au, including 3.5 m of 3.53 g/t Au. The holes targeted zones below historical holes and demonstrate that high grades continue at depth. See Figure 1 for a longitudinal section showing the location of the holes relative to previously drilled holes by other operators. 

J.C. St-Amour, President and CEO, said “This is our maiden drill program on the Bousquet-Odyno Project and we are excited to see that high grades continue at depth below historical drilling on the project. This is a kilometric-sized gold system and high-grade gold has historically been identified closer to surface. Today’s drill results targeted gold mineralization at a vertical depth of 275 m and is a significant step down from previous high-grade gold intercepts. I am enthusiastic about the potential to expand the known gold system with further drilling. As we know, the Abitibi gold belt is one of the most prolific gold systems in the world and deposits can start at surface and continue to depth for kilometers. We look forward to receiving further assay results from our drill program.”

Based on these encouraging early results, the Company further announces that it will increase the drill program by 5,000 m to a total of 9,000 m.  The program will continue to test high grade zones at depth.

For further information please watch the interview at the Bousquet-Odyno Core Shack with Gilles Laverdière, geologist and Qualified Person (QP).

Figure 1: Longitudinal Section of the Bousquet-Odyno Project Indicating Locations of Holes BO-22-63 and BO-22-64.

Table 1: Preliminary Results from the 2022 Bousquet-Odyno Drill Program

Hole No.

From

To

Interval

Au

Metal Factor

 

(m)

(m)

(m)

(g/t)

(g/t*m)

BO-22-63

301.0

322.0

21.0

5.23

109.83

-including

308.5

319.0

10.5

10.14

106.47

BO-22-64

104.0

110.5

6.5

2.10

13.65

-including

106.0

109.5

3.5

3.53

12.36

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

Hole No.

Easting

Northing

Elevation

Azimuth

Dip

Length

BO-22-63

678417

5344358

357

350.0

-70

340

BO-22-64

678547

5344521

356

349.9

-70

377

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

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).

 

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