Vanstar Unveils a Large Auriferous Hydrothermal System at its Nelligan Project
Sep 5, 2017
LA PRAIRIE, QUEBEC - (Marketwired - Sept. 5, 2017) - The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR)(FRANKFURT:1V8) is pleased to report the last drilling results from an additional ten diamond drill holes totaling just over 4,400 metres from the 7,669 metres program completed on the project last winter by IAMGOLD Corporation. These results confirm an extension to the west of the Renard zone structure over 1.3 km associated with a large hydrothermal gold system that is now drill intersected over 2.3 km strike length. This gold corridor corresponds to a Magnetic low anomaly and remains open along strike and at depth. A number of gold bearing zones are observed to occur within the larger hydrothermal system. The drilling results are summarized below and provided in the attached Table.
Drill hole NE-17-64 located at 0.7 km west of drill hole NE-16-48 in the Renard zone, returned a grade of 2.78 g/t Au over 11.28 m as well as 1.13 g/t Au over 5.64 m while drill hole NE-17-61, located 1.3 km from NE-16-48, intersected a grade of 1.21 g/t Au over 9.52 m.
Drill hole NE-17-62 intersected the Renard zone with grades of 2.01 g/t Au over 34.27 m, including 2.88 g/t Au over 20.43 m and 4.43 m at a grade of 7.66 g/t Au. This drill hole also intersected another gold zone grading 2.38 g/t Au over 11.59 m. This drill hole confirmed the depth extension of drill hole NE-16-48 which previously returned 3.19 g/t Au over 11.69 m and 1.62 g/t Au over 32.42 m including 3.26 g/t Au over 8.46 m (see March 14, 2017 press release).
Renard drill section: http://media3.marketwire.com/docs/Section_450W.pdf
Drill holes NE-17-63, NE-17-65 and NE-17-66 were located to test the up-dip extensions of drill holes NE-16-46, NE-16-47 and NE-16-48. The 3 holes successfully intersected their respective targets, returning 1.68 g/t Au over 10.34 m, 1.16 g/t Au over 50.30 m including 2.62 g/t Au over 6.80 m as well as 2.83 g/t Au over 6.62 m including 8.73 g/t Au over 1.45 m. Several other gold intervals were also intersected in these holes as noted in the attached table.
"We are very impressed by the apparent size of this large hydrothermal gold system. The latest results show gold mineralization extending to the west and at depth, and it remains open. The encouraging results received to date continue to demonstrate the gold potential of this project. A significant drilling campaign will be required to fully evaluate this large system" stated Mr. Guy Morissette, CEO of Vanstar.
IAMGOLD Corporation, the project operator and Vanstar's joint venture partner on this project, is now compiling and analyzing all of the data obtained in order to plan the next phase of exploration.
Nelligan Geophysics map: http://media3.marketwire.com/docs/goldzones_august.pdf
Nelligan Gold Horizons map: http://media3.marketwire.com/docs/gold_zones_horizons_august.pdf
The following table summarizes the most recent results of the second part of the 2017 winter drilling campaign.
Table 1 Nelligan Project Drilling Results - 2017 WINTER Drilling program
|Hole No.||UTM NAD83 Zone18||AZ||DIP||EOH||from||To||Interval||True Width (1)||Au (2)||NOTE|
|NE-17-59||522560||5473369||378||330||48||560.00||No Significant Results|
|NE-17-60||522324||5473343||374||330||48||495.00||No Significant Results|
|NE-17-61||521227||5473687||370||360||48||504.00||165.00||168.00||3.00||2.72||1.19||WEST EXTENSION - RENARD|
|NE-17-64||521828||5473633||378||360||45||456.00||318.00||328.50||10.50||9.87||0.87||WEST EXTENSION - RENARD|
|NE-17-67||522588||5472799||386||331.9||46.4||366.00||No Significant Results|
(1) True widths are estimated at 76 to 98% of the core interval.
(2) Drill hole intercepts are calculated with a lower cut of 0.50 g/t Au and may contain lower grade interval of up to 5 metres in length. They are generally reported with a minimum g*m (or Metal factor) of 5.
(3) Assays are reported uncut but high grade sub-intervals are highlighted.
About the Nelligan project
This project is located 45 km to the south of Chapais. Access to the property is easy by the paved highway Route 113 N that links Chapais to Chibougamau and by forestry gravel roads reaching directly to the center of the property.
The property is located in the northeastern part of the Abitibi Greenstone Belt of the Superior province. It contains several interesting gold structures, including Liam, Dan, North Sector (Renard Zone), Zone 36 and Lac d'Eu. These gold structures were intersected to date over a strike length of 2,300 m and to a depth of over 300 vertical metres and may collectively form a corridor of few hundred of metres in width. The widespread presence of gold has been confirmed by drilling throughout the hydrothermal system. These zones remain open along strike and at depth.
This press release was read and approved by Gilles Laverdière, Geologist and Qualified Person under NI 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vanstar Mining Resources Inc.