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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 Resumes Drilling on the Liam Zone

20/01/2014 1:30pm

Marketwired Canada


The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) announces that
it will resume drilling on the Liam showing of the Nelligan project. Holes will
be drilled 50 metres apart and will assess the Liam showing extensions along
strike. 


Each of the initial drill holes (see November 26 and December 18, 2013 PR)
performed in this area intersected gold grades showing great potential. The Liam
zone seems to be closely associated with a low magnetic anomaly present on a
length of more than 900 metres. 


More to the east, another low magnetic anomaly was identified in the 2013
survey. A drill hole that was done in this area (Mila zone) also intersected
gold grades (see November 26, 2013 PR). This anomaly could be the extension of
the Liam zone, intersected by a major fault. 


Also, the management of the Company sold its 100% interest in 4 mining cells
located 4 kilometres from the Nelligan project in exchange for $5,000 and
160,000 common shares of Stellar Africagold Inc.. Vanstar retains a 1.5% NSR
royalty on those cells. Vanstar also acquired by map designation, a block of 21
cells covering an area of 1,176 hectares located in the Monster Lake area, owned
by Tomagold Inc. 


The Liam showing

The Liam gold showing was discovered in November 2013 with drill hole NE13-04
(See November 26, 2013 press release). This hole was testing a low magnetic
anomaly recognized on a length of more than 900 metres. This important gold
structure was intersected at shallow depths and could result in an open pit
exploitation. 


The Liam gold zone lies within an intensive deformation corridor which is
interpreted to coincide with a NE-SW low mag anomaly. Hosted in a
meta-sedimentary environment, the core of the zone is strongly silicified with
1-2% finely disseminated pyrite. A sericite-fuschite schist unit along with a
sheared and mineralized Iron Formation are observed along the south contact. A
horizon of amphibolite hosting 5-10% silicified and mineralized veinlets, with
traces of molybdenum, is observed along the north contact. Following a second
inspection of the drill cores, visible gold was observed in two of the four
drill holes so far completed on this showing. 


The newly discovered structure remains open along strike and at depth.

Nelligan Project 

The 100% owned Nelligan property now consists of 98 cells covering an area of
5,488 hectares. It is located approximately 45 kilometers south of the village
of Chapais and is accessible year round by several forestry roads. A power line
crosses the area some 4 kilometers to the east of the project. No constraints
such as protected parks or ecological reserve limit mining exploration on the
property. 


The Nelligan property is located 15 km SSE of Tomagold's Monster Lake project
where Iamgold Corp. recently agreed to exploration work commitments of
$16,000,000 over a period of 5 years. 


In the same area, you can also find the Philibert (Soquem), Meston Lake and Joe
Mann deposits. The Chevriers deposits and the Murgor showings are located
north-east of the Nelligan project.


The work will be performed under the supervision of Daniel Kelly, consulting
engineer and Qualified Person under NI 43-101. This press release was read and
approved by Daniel Kelly. 


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.


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


For info:
Momentum Public Relations Inc.
Maxence Gagne-Godbout
450-332-6939
mgagnegodbout@momentumpr.ca

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