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VSR Vanstar Mining Resources Inc

0.67
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Vanstar Mining Resources Inc TSXV:VSR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.67 0.40 0.69 0 01:00:00

Vanstar Acquires a 50% Interest in the Cookie Monster Property

14/06/2013 1:30pm

Marketwired Canada


The management of Vanstar Mining Resources Inc. ("Vanstar") (TSX VENTURE:VSR)
announces the acquisition of the 50% interest held by Amseco Exploration Ltd.
(TSX VENTURE:AEL) in the Cookie Monster project in exchange of $2,000 cash,
60,000 Vanstar common shares and a 1% NSR. This project covers an area of 1,450
hectares and is located east of the Monster Lake property owned by Tomagold and
Quinto (joint-venture), in the area of Chapais-Chibougamau. Vantex Resources
Ltd. (TSX VENTURE:VAX) holds the remaining 50% interest of the project.


Vanstar also owns a 50% interest in the Little Monster project located between
Cookie Monster and Monster Lake.


Location map : http://media3.marketwire.com/docs/Location_map.JPG

These two properties are located on the east boundary of the Tomagold- Quinto's
project (Monster Lake) where many gold and copper showings were discovered in
the 1970s (See Tomagold April 22, 2013 press release). Tomagold- Quinto released
excellent results on Monster Lake in the last previous months, as follows :


Best results fron the 325 zone (Monster Lake - Tomagold, February 20, 2013 press
release)




Hole                        Length       Depth
No.             g/t Au         (m)         (m)
                                              
M-25-11(i)       101.2        4.50          50
M-38-11(i)         7.2        3.00          80
M-37-11(i)        19.4        2.00          85
M-43-11(i)        11.1        1.00         103
M-13-94           11.5        5.30         187
M-13-93           33.6        5.85         217
M-13-95           42.0        7.20         278
                                                                            
(i)Old drill holes                                                          



In the south-east extension of the properties, lies the Opawica-Guercheville
deformation corridor which hosts many gold deposits such as Philibert (1.4
million MT @ 5.32 g/t Au- DV9301) and Meston Lake (1.225 milion MT @ 6.35 g/t Au
- MB89-17) as well as the former Joe Mann mine (1.52 million MT @ 11 g/t Au -
GM44408). North-east of Little and Cookie Monster, we can find the Chevrier
deposits as well as many gold showings previously identified by Murgor
Resources.


Geological map : http://media3.marketwire.com/docs/Little_Cookie_Monster_Map.JPG

The management of the Company is also evaluating other projects located in
strategic mining areas like Kirkland Lake, Ontario and Rouyn-Noranda, Abitibi.


The works will be supervised by Daniel Kelly, geological engineer and Qualified
Person under NI 43-101.


Otherwise, Vanstar signed agreements with Momentum PR and Avenue Capital Markets
Inc.. Momentum PR, as an IR firm, will receive a monthly fee of $7,500 and
450,000 stock options at a price of $0.10 per share while Avenue Capital Markets
Inc. will receive a monthly fee of $2,500 and 150,000 stock options at a price
of $0.10 per share, for their financial business development services. 


These agreements are subject to the approval of regulatory authorities and the
common shares to be issued are subject to a 4-month and 1 day minimum hold
period.


The content of this press release was read and approved by Daniel Kelly,
Qualified Person under NI 43-101.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Guy Morissette
CEO
819-763-5096
www.vanstarmining.com

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