Vanstar Reports Initial Mineral Resource Estimate of 3.2 Million Inferred Ounces for the Nelligan Gold Project, Quebec
Momentum Public Relations
Press Release: October 22, 2019
The management of Vanstar Mining Resources Inc. (“Vanstar”) is pleased to announce that its partner IAMGOLD Corporation (“IAMGOLD”) has reported the initial Mineral Resource estimate on its Nelligan Joint Venture Project (“Nelligan”) (IAMGOLD: 51%, Vanstar Mining Resources Inc. (“Vanstar”): 49%), located 60 kilometres southwest of Chibougamau, Quebec, Canada. The estimate was completed in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards incorporated by reference in National Instrument 43-101 (“NI 43-101”).
The initial Mineral Resource estimate, on a 100% basis, shows a pit-constrained Inferred Resource totalling 96,990,000 tonnes averaging 1.02 grams of gold per tonne for 3,193,900 ounces of contained gold. The estimate includes four mineralized zones where geological and grade continuities have been demonstrated by IAMGOLD and Vanstar exploration drilling programs.
The most significant contribution (in terms of ounces) is provided by the recently discovered Renard Zone which has been intersected in drilling for over 1 kilometre along strike with a true thickness exceeding 100 metres. The deposit is characterized by homogeneous low-grade gold mineralization associated with fine pyrite mineralization hosted in an altered sequence of dominantly metasedimentary rocks. Mineralization remains open at depth and along strike to the west. The potential for adding additional resources is considered favourable and will be the focus of future exploration programs.
Guy Morissette, Chairman and CEO for Vanstar stated: “We have always believed in Nelligan’s gold potential and this first Mineral Resource estimate seems to prove us right. As a company, we are proud to have made the initial discovery of the Liam and Dan areas that led to the discovery of the Renard area by our partner. The present results combined with the homogeneity of the deposit and its extensions potential demonstrate that the Nelligan project can become a major gold deposit in Canada in a short-medium term. Thanks to the technical team of IAMGOLD for their excellent work and who brought the Nelligan Project to that stage.”
In a separate press release on the recent results, Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated: ” The completion of this initial resource estimate reported for Nelligan is an important milestone which solidifies this new grassroots discovery by the IAMGOLD exploration team. The discovery of the Renard Zone builds on the initial discoveries made by Vanstar which originally highlighted the exploration potential of this area and motivated our participation in the project. I would like to point out that we have advanced this project from the initial grassroots discovery of the Renard Zone to the declaration of a sizable mineral resource in just three years. I congratulate our exploration team on their efforts which have led to this outstanding discovery. I would like to thank our partner Vanstar for giving IAMGOLD the opportunity to become its exploration partner on the Nelligan project.”
The initial Mineral Resources estimate was prepared by Alain Carrier, P.Geo. and Vincent Nadeau-Benoit, P.Geo., both of InnovExplo, using all available and validated data, including recent results from the 2019 drilling program and incorporates results from 176 recent and historic drill holes (totaling over 56,500 metres), variably spaced from 40 to 100 metres apart. Leapfrog was used for geological and litho-structural 3D modelling while GEMS was used to support the interpretation of the mineralized zones which comprises four primary zones (Liam, Dan, Zone 36, and Renard) subdivided into 11 sub-domains for estimation purposes. The estimate was prepared using a block model approach (10 metre blocks) and Ordinary Kriging (OK) interpolation constrained by 3D wireframes. The Nelligan Mineral Resource estimate was prepared considering a pit-constrained scenario at a long-term gold price of US$1,500/ounce, pit slopes of 45° (rock) and of 30° (overburden) during Whittle optimization. At a 0.5 g/t Au cut-off grade, strip ratio of 3.5 (in rock) and of 4.0 (when including overburden) were obtained for the Whittle resource pit shell. All resource blocks were classified in the Inferred resource category. Only mineralization contained within the preliminary pit shell has been included in the resource estimate.
To support the mineral resource estimate, a preliminary metallurgical testing program was completed at SGS, Quebec on selected composites with a focus on the largest zone (Renard). The results suggest that gold recoveries averaging approximately 92% can be expected from a process flow sheet involving an initial sulphide flotation, following by regrinding of the sulphide concentrate sent to a cyanidation / carbon-in-leach (“CIL”) circuit, and including cyanide leaching of the flotation tails. Further testing is required to confirm recoveries, test the range of mineralization and optimize a process flow sheet.
The Mineral Resources estimate is summarized in the following table and the effective date of this resource estimate is October 2, 2019. A supporting NI 43-101 Technical Report will be filed on SEDAR at www.sedar.com within 45 days of this release.
MINERAL RESOURCE STATEMENT – NELLIGAN PROJECT (100% Basis)
Effective October 2, 2019
Classification | Tonnage | Grade (g/t Au) | Contained Ounces (Au) |
Inferred | 96,990,000 | 1.02 | 3,193,900 |
Notes:
- CIM definitions were followed for classification of Mineral Resources.
- Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.
- Mineral Resources are estimated using a gold price of US$ 1,500 per ounce.
- Mineral Resources are constrained by a Whittle optimized pit shell using a 0.5 g/t Au cut-off grade and are considered to have reasonable prospects for eventual economic extraction.
- High grade capped assay values vary from 15 g/t Au to 30 g/t Au based on domain; and 2.5 g/t Au in intervals of poor core recovery.
- Bulk density values were determined by measurements on core and range from 2.73 g/cm3 for rock to 2.00 g/cm3 for overburden.
- All figures have been rounded to reflect the relative accuracy of the estimate.
The table below displays the sensitivity of the mineral resource estimate at different cut-off grades for a pit-constrained scenario. The reader should be cautioned that the numbers provided in the table below should not be interpreted as a mineral resource statement. The reported quantities and grade estimates at different cut-off grades are presented with the sole purpose of demonstrating the sensitivity of the resource model to the selection of a reporting cut-off grade.
NELLIGAN CUT-OFF GRADE SENSITIVITY ANALYSIS ON THE
PIT-CONSTRAINED INFERRED RESOURCES
Cut-off (g/t) | Inferred Resources | ||
Tonnage (t) | Grade (g/t Au) | Ounces (Au) | |
>1.75 | 9,431,000 | 2.35 | 713,900 |
>1.50 | 13,971,000 | 2.11 | 949,900 |
>1.00 | 34,844,000 | 1.57 | 1,758,000 |
>0.75 | 60,023,000 | 1.27 | 2,455,800 |
>0.60 | 81,498,000 | 1.11 | 2,921,000 |
>0.50 | 96,990,000 | 1.02 | 3,193,900 |
>0.40 | 118,674,000 | 0.92 | 3,505,200 |
>0.35 | 134,551,000 | 0.85 | 3,696,300 |
>0.30 | 152,765,000 | 0.79 | 3,886,600 |
NELLIGAN RESOURCE MODEL: https://www.globenewswire.com/NewsRoom/AttachmentNg/f578b46f-15d5-4ced-bbf7-a17124dd2ec9
Next Steps
In the coming months additional metallurgical tests will be completed to provide additional information on the metallurgical recoveries from the various zones of mineralization comprising the Mineral Resources of the Nelligan gold deposit and to help optimize the process flow sheet parameters.
Planning for future drilling programs is ongoing and will involve a number of objectives including: additional infill drilling to improve resource classification and convert Inferred Resources to an Indicated Resource category; evaluate potential resource extensions in the deeper parts of the deposit; and evaluate resource expansions along strike.
Regional exploration will also continue to define and test other priority exploration targets on the property.
About the Nelligan Project
The Nelligan project is underlain by a portion of the Caopatina segment belonging to the North Volcanic Zone of the Abitibi Belt of the Superior Province. The property is centered on the E-W Druillette syncline with sediments of the Caopatina Formation bounded to the north and to the south by volcanic rocks of the Obatogamau Formation. The North and South portions of the property are occupied by granodioritic to tonalitic intrusions. The project is transected by numerous regional and local structures and deformation zones which can be important in the localization of gold mineralization.
Gold showings of the area can be grouped according to their style of mineralization: 1) quartz-sulphide vein type mineralization and 2) associated with zones of disseminated pyrite mineralization in hydrothermally altered units. On the local scale, the Nelligan project contains several known gold showings, including the Liam and Dan Zones discovered by drilling in 2013 and 2014, and the historical Lake Eu showing. Subsequent exploration undertaken by IAMGOLD discovered significant alteration and associated gold mineralization over wide intervals in metasedimentary units intersected in drilling to the north of the known gold showings. Mineralization has now been intersected in drilling over a strike length of more than 1 kilometre, and to a depth of over 350 vertical metres (referred to as the Renard Zone and Zone 36). The mineralized zones and showings fall within a structural corridor with a potential strike length of several kilometres possibly associated with the Guercheville Deformation Corridor located 5 kilometres north of the property.
The Nelligan Project is held under an earn-in option to joint venture agreement with Vanstar. The Company holds an undivided 51% interest in the property, and holds an option to earn a further 24% undivided interest in exchange for cash payments totaling C$2,750,000 to Vanstar and the delivery of an NI 43-101 compliant Resource Estimate and Technical Report before March 2022. Once vested to an undivided 75% interest, IAMGOLD will have a further option to acquire an additional interest of 5%, to hold an 80% interest in the Nelligan project by completing and delivering a Feasibility Study. Vanstar would then retain a 20% undivided non-contributory carried interest until the commencement of commercial production, after which: (1) the 20% undivided interest becomes participating; and (2) Vanstar will pay its attributable portion of the total development and construction costs to the commencement of commercial production from 80% of its share of any ongoing distributions from the Joint Venture. Vanstar will also retain a 1% NSR royalty on selected claims of the project.
With completion of the initial Mineral Resource estimate described above, the project hosts current Mineral Inferred Resources of 97.0 million tonnes averaging 1.02 grams of gold per tonne for 3.19 million ounces of contained gold.
Technical Information and Quality Control Notes
The mineral resource estimate, including verification of the data disclosed, has been completed by InnovExplo Inc. (“InnovExplo”) and reported in accordance with NI 43-101 Standards of Disclosure for Mineral Projects and CIM Estimation Best Practice Guidelines.
The technical contents of this release has been reviewed and approved by Alain Carrier, P.Geo., copresident founder for InnovExplo, who is an Independent Qualified Person under NI 43-101. The information in this news release was reviewed and approved by Marie-France Bugnon, P. Geo., General Manager Exploration for IAMGOLD. Mrs. Bugnon is a Qualified Person as defined by National Instrument 43-101.
The sampling of, and assay data from, the drill core is monitored through the implementation of a quality assurance – quality control (QA-QC) program. Drill core (NQ size) is logged and samples are selected by the IAMGOLD geologists and sawn in half with a diamond saw at the project site. Half of the core is retained at the site for reference purposes. Sample intervals may vary from half a metre to one and a half metres in length depending on the geological observations.
Half-core samples are packaged and transported in sealed bags to ALS Minerals Laboratory (“ALS”) located in Val-d’Or, Québec. Samples are coarse crushed to a -10 mesh and then a 1,000 gram split is pulverized to 95% passing -150 mesh. ALS processes analytical pulps directly at their facilities located in Val-d’Or which is ISO / IEC 17025 certified by the Standards Council of Canada. Samples are analyzed using a standard fire assay with a 50 gram charge with an Atomic Absorption (AA) finish. For samples that return assay values over 5.0 grams per tonne, another pulp is taken and fire assayed with a gravimetric finish. Core samples showing visible gold or samples which have returned values greater than 10.0 grams per tonne are re-analyzed by pulp metallic analysis. IAMGOLD inserts blanks and certified reference standards in the sample sequence for quality control.
Forward Looking Statement
This news release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding expected, estimated or planned gold production, cash costs, margin expansion, capital expenditures and exploration expenditures and statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “to earn”, “to have’, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to meet expected, estimated or planned gold production, cash costs, margin expansion, capital expenditures and exploration expenditures and failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company’s expectations, changes in world gold markets and other risks disclosed in IAMGOLD’s most recent Form 40-F/Annual Information Form on file with the United States Securities and Exchange Commission and Canadian provincial securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.
Cautionary Note to Investors Concerning Estimates of Inferred Resources
This news release also uses the term “inferred resources”. We advise investors that while this term is recognized and required by Canadian regulations, the SEC does not recognize it. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that part or all of an inferred Resource exists, or is economically or legally mineable.
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.
Source :
Guy Morissette, CEO Vanstar 819-763-5096
Gary Claytens, VP – Western Corporate Development 604-761-3233
info@rvanstar.com
www.vanstarmining.com
- Published in Mining, News Home, Vanstar Mining
Nelligan Project Among the Finalists for the “Discovery of the Year” Award at the XPLOR 2019 Convention
Momentum Public Relations
Press Release: August 20, 2019
Vanstar Mining Resources Inc. («Vanstar») is very pleased to announce that the Nelligan project, an Earn-In Agreement between IAMGOLD Corporation (“IAMGOLD”) : 51% and Vanstar : 49%, is among the three finalists for the AEMQ “Discovery of the year” award. The name of the award winner will be announced on Wednesday, October 23, during the Awards Gala that will take place in the Queen Elizabeth Hotel, in Montreal.
Furthermore, on October 23, during the XPLOR 2019 convention, a conference called “Nelligan Project :a wide gold-bearing system hosted in a detritical sedimentary sequence – An important discovery for the Chapais-Chibougamau mining district” will be given by IAMGOLD. In addition, IAMGOLD will hold a booth presenting technical information related to the Nelligan project and some samples of rock from the different gold zones identified by the exploration work.
Our partner will also have a space at the Core Shack section to expose different sections of drill holes to show the entire stratigraphy and alterations typical of the Renard zone.
Mr. Guy Morissette, President, states: ” We are honored that the Nelligan Project is among the finalists for the Discovery of the Year Award. This is a project that we believe deserves to be recognized as a major Canadian gold project.”
The Nelligan project, located in the Chapais-Chibougameau region, comprises 158 cells with an area of 8,216 hectares. The main known indexes on this project are Renard, Liam, Dan and 36 occupy an area of just 4% (6 mining cells) of the entire property. The Liam and Dan gold zones, discovered by Vanstar during the 2013 and 2014 drilling campaigns, were followed by the discovery of the Renard by our partner IAMGOLD in 2016.
IAMGOLD is expected to provide an initial resource estimate for the NI 43-101 compliant Renard Zone in the second half of 2019.
AMENDMENT TO THE STOCK OPTION PLAN
The management of Vanstar Mining Resources Inc. also wishes to report that pursuant to the disinterested shareholders’ approval at the annual shareholders meeting, the TSX Venture Exchange approved the amended Stock Option Plan, which resulted in the increase of the maximum number of issuable options from 7,600,000 to 9,552,665.
- Published in Mining, News Home, Vanstar Mining
Vanstar Announces 1.26 g/t Au Over 123.7 Meters on the Nelligan Project
Momentum Public Relations
Press Release: August 13, 2019
The management of Vanstar Mining Resources Inc. (“Vanstar”) is pleased to announce that its partner IAMGOLD Corporation (“IAMGOLD”) has intersected in hole NE-19-138 a gold zone of 123.7 meters grading 1.26 g / t Au on the Nelligan joint venture project (IAMGOLD Corporation: 51%, Vanstar Mining Resources Inc.: 49%) and located 60 kilometers southwest of Chibougamau, Quebec, Canada. The Company’s management is also reporting results of the remaining twenty-eight (28) diamond drill holes totaling 10,558 metres completed as part of the 2019 drilling program.
The table below shows the main results of the last 28 surveys from the 2019 winter campaign:
Renard Zone:
- Drill hole NE-19-134: 25 metres grading 1.19 g/t Au
and 14 metres grading 2.26 g/t Au
includes: 4 metres grading 5.92 g/t Auand 59 metres grading 0.90 g/t Au
includes: 2.5 metres grading 5.02 g/t Au - Drill hole NE-19-131 : 32.8 metres grading 1,66 g/t Au
and 33 metres grading 1,11 g/t Au
- Drill hole NE-19-126: 34.5 metres grading 1.75 g/t Au
includes: 7 metres grading 4.69 g/t Auand 20.8 metres grading 1.54 g/t Au - Drill hole NE-19-138: 123.7 metres grading 1.26 g/t Au
includes: 8.5 metres grading 4.25 g/t Au - Drill hole NE-19- 140: 15 metres grading 2,26 g/t Au
and 47 metres grading 0,96 g/t Au
and 21 metres grading 1,13 g/t Au
- Drill hole NE-19-143: 37 metres grading 1,81 g/t Au
Includes: 1,2 metre grading 28,2 g/t Au - Drill hole NE-19-144: 16,5 metres grading 1,92 g/t Au
And 37.5 metres grading 2 g/t Au
Includes: 4.5 metres grading 9,49 g/t Au
Includes: 1.5 metre grading 20,9 gt Au - Drill hole NE-19-145: 50,2 metres grading 1,82 g/t Au
Includes: 0.9 metre grading 20,5 g/t Au - Drill hole NE-19-146: 30.6 metres grading 2,87 g/t Au
Includes: 1,5 metre grading 24,4 g/t Au - Drill hole NE-19-147: 22 metres grading 1,05 g/t Au
and 16.5 metres grading 1,35 g/t Au
and 25.5 metres grading 1.92 g/t Au
and 24.0 metres grading 1.09 g/t Au
and 21.3 metres grading 3.41 g/t Au
includes: 1.5 metre grading 39.1 g/t Au - Drill hole NE-19-149: 17.3 metres grading 5.5 g/t Au
and 31.2 metres grading 1.03 g/t Au
Additional tables accompanying this announcement are available at: http://ml.globenewswire.com/Resource/Download/d9532fca-7f73-4cfb-b364-aade0de5835f
The 2019 diamond drilling program was designed to infill and test the continuity of the mineralized zones of the Renard mineralized system. The program specifically targeted the shallower part of this broad mineralized corridor to confirm and define its extension to the surface. Most of the drilling has achieved the objectives desired by the program.
“This 2019 winter program has generated a set of results that are highly consistent with our expectations, and to date, we remain very confident that the current and future work being done on Nelligan will materialize into a high quality gold deposit,” said the CEO of the company, Mr. Guy Morissette.
In a separate press release on the recent results, Craig MacDougall, Senior Vice President, Exploration for IAMGOLD stated: “We are very pleased to have all of the 2019 drilling results in hand and we are now working to incorporate the new results into our deposit model to support the completion of a mineral resource estimate expected in the second half of the year. Once completed, this will mark an important milestone for the project and a significant achievement by our exploration team. It is also important to note that there is considerable potential to expand the mineralized zones as the Renard zone remains open at depth and to the west along strike.”
Nelligan Project: https://www.globenewswire.com/NewsRoom/AttachmentNg/733c05ef-2a76-49a0-a771-6c38b439fea5
Next Steps
Together with ongoing geological, geochemical and structural studies, assay results from the 2019 drilling totaling 17,558 meters will be integrated to support the development and refinement of a deposit model with the objective of completing an initial 43-101 compliant resource estimate in the second half of 2019. Initial metallurgical tests are also in progress and the results will be used to design future testing programs.
Field activities for the summer season have commenced and will focus on a geological mapping program within the larger property holdings surrounding the Renard discovery to improve the understanding of the structural regional framework and to prospect various geophysical and structural features identified for follow up.
This press release has been read and approved by Mr. Gilles Laverdière, P.Geo. and Qualified Person under National Instrument 43-101.
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.
Source : Guy Morissette, 819-763-5096
CEO Ressources Minières Vanstar Inc.
gmvanstar@gmail.com www.vanstarmining.com
- Published in Gold, Mining, News Home, Vanstar Mining
Vanstar announces AGM results and the election of directors
Momentum Public Relations
Press Release: June 17, 2019
Vanstar Mining Resources Inc. announces that the seven candidates designated in the management proxy circular dated May 10, 2019 were elected to the Corporation’s Board of Directors during the shareholders’ annual meeting held in Longueuil on June 13, 2019.
The shareholders were represented in person or by proxy by 20,241,497 class A shares, or 42.65% of the 47,463,328 outstanding class A shares.
Voting results are presented below:
- Percentage of votes in favour of the nomination of the directors proposed varies from 82.78% to 100%. Thus, MM. Guy Morissette, Pascal Germain, Eric Beauchêsne, Eric Gervais, Gary Claytens, Jonathan Hamel and Martin Richard were re-elected directors of the company.
- The appointment of Brunet Roy Dubé, CPA, as Independent auditor for the Company was approved at 100%.
- The amendment of the stock option plan was approved at 88.77%.
Certain information contained in the press release are subject to receipt of all regulatory
approvals. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For more information on Vanstar, visit our website at www.vanstarmining.com.
Source : Guy Morissette
President and CEO
819-763-5096
gmvanstar@gmail.com
- Published in Mining, News Home, Vanstar Mining
IAMGOLD Intersects 56.46 g/t Au Over 6 Metres Including 1.5 Metre Grading 224 g/t Au on Nelligan
Momentum Public Relations
Press Releases: May 30th, 2019
The management of Vanstar Mining Resources Inc. (VSR-TSX-V) is very pleased to announce the first results from the 2019 winter drilling campaign carried out by its strategic partner IAMGOLD Corporation. This program, with a total of 17,654 meters of drilling in 50 holes, was aimed at 1) delimit the northern limit of the Renard deposit 2) complete in the definition of a geological model in order to calculate a first gold resource in place and 3) check its extension towards west. These three goals have all been achieved.
The following table shows the main significant results from drill holes NE-19-100 to NE-19-121. The results from the 28 other drill holes will be published as soon as available.
• | RENARD ZONE : | |
• | Hole NE-19-102: | 37.09 metres grading 1.81 g/t Au |
Including | 9.81 metres grading 2.73 g/t Au | |
• | Hole NE-19-103: | 23.80 metres grading 2.20 g/t Au |
Including | 3.75 metres grading 5.92 g/t Au | |
Including | 5.30 metres grading 3.92 g/t Au | |
Including | 2.00 metres grading 8.20 g/t Au | |
• | Hole NE-19-105: | 26.15 metres grading 1.69 g/t Au |
Including | 9.15 metres grading 3.68 g/t Au | |
Including | 1.35 metres grading 10.85 g/t Au | |
And | 41.60 metres grading 1.18 g/t Au | |
Including | 15.10 metres grading 2.12 g/t Au | |
• | HoleNE-19-108: | 37.43 metres grading 1.32 g/t Au |
Including | 11.01 metres grading 2.40 g/t Au | |
And | 11.00 metres grading 2.56 g/t Au | |
And | 73.00 metres grading 1.09 g/t Au | |
• | Hole NE-19-113: | 11.20 metres grading 3.39 g/t Au |
Including | 3.60 metres grading 7.65 g/t Au | |
And | 6.00 metres grading 56.49 g/t Au ( 7.99 g/t Au capped @ 30 gt ) | |
Including | 1.50 metres grading 224 g/t Au | |
• | Hole NE-19-114: | 16.70 metres grading 4.04 g/t Au ( 3.53 g/t Au capped @ 30 gt ) |
Including | 7.73 metres grading 7.02 g/t Au | |
Including | 1.00 mètre grading 38.50 g/t Au | |
And | 28.42 metres grading 2.11 g/t Au | |
Including | 5.00 metres grading 7.05 g/t Au | |
And | 45.85 metres grading 1.04 g/t Au | |
Including | 3.67 metres grading 3.85 g/t Au | |
And | 9.00 metres grading 1.55 g/t Au | |
And | 22.50 metres grading 1.04 g/t Au | |
• | Hole NE-19-116: | 5.55 metres grading 14.95 g/t Au ( 8.06 g/t Au capped @ 30 gt ) |
Including | 1.30 metres grading 59.40 g/t Au | |
• | Hole NE-19-118: | 46.80 metres grading 1.59 g/t Au |
Including | 6.67 metres grading 5.96 g/t Au | |
And | 26.90 metres grading 1.16 g/t Au | |
And | 25.73 metres grading 1.08 g/t Au | |
• | Hole NE-19-120: | 10.50 metres grading 2.11 g/t Au |
Including | 4.00 metres grading 3.94 g/t Au | |
And | 11.75 metres grading 1.99 g/t Au | |
Including | 6.00 metres grading 2.70 g/t Au |
( See the diamond drill location map in annexe )
« We are totally satisfied with these news results. These show a consistent auriferous presence in the extensive Renard hydrothermal system and it is also encouraging to see that it remains open in its western extension. Hole NE-19-120 demonstrates this well » commented the CEO and President of the Company, Mr. Guy Morissette
In a separate press release on the recent results Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated: “The 2019 drilling program has successfully confirmed wide zones of mineralization extending to surface, which will help complete our deposit model in support of a mineral resource estimate planned for completion in the second half of the year. It is important to note that the mineralized zones remain open and are therefore believed to have favourable potential to continue to expand with additional drilling. I commend the efforts of our exploration team and contractors, who continued to advance this grassroots discovery successfully and – most importantly – safely in the difficult winter conditions of this region of Quebec.”
The 2019 diamond drilling program was designed to infill and further test continuity of the mineralized zones of the Renard mineralized system, located immediately north of the previously known Liam and Dan zones. It specifically targeted the shallower part of this wide mineralized corridor to confirm and define its limit closer to the surface. Most of the holes intersected the expected zones of hydrothermal alteration characterized by variable carbonatization, sericite, phlogopite and pervasive silicification affecting the hosting meta-sedimentary sequence. Associated mineralization consists of widespread disseminated pyrite, varying from 1% to locally 15%. Trace molybdenite and occasionally fine grains of visible gold are also observed.
Next Steps
Assay results from the remaining 28 drill holes totaling 10,680 metres will be reported once they are received, validated and compiled. Once in hand, the data from the 2019 drilling program, coupled with ongoing geological, geochemical and structural studies, will be integrated to support the development and refinement of a deposit model with the objective of completing an initial NI 43-101 compliant resource estimate in 2019 and will support the planning of future drilling programs.
About the Nelligan Project
The Nelligan project is underlain by a portion of the Caopatina segment belonging to the North Volcanic Zone of the Abitibi Belt of the Superior Province. The property is centered on the E-W Druillette synclinal with sediments of the Caopatina Formation bounded to the north and to the south by volcanic rocks of the Obatogamau Formation. The North and South portions of the property are occupied by granodioritic to tonalitic intrusions. The project is transected by numerous regional and local structures and deformation zones which can be important in the localization of gold mineralization.
Gold showings of the area can be grouped according to their style of mineralization: Quartz-sulphide vein type mineralization and disseminated pyrite mineralization. On the local scale, the Nelligan project contains several interesting gold showings, including the Liam and Dan Zones discovered by drilling in 2013 and 2014, and the historical Lake Eu showing. Significant alteration and associated gold mineralization was intersected over wide intervals to the north of the known gold showings over a strike length of more than 1.0 kilometre, to a depth of over 350 vertical metres (Zones 36 and Renard). These prospective showings appear to fall within a structural corridor with a potential strike length of several kilometres associated to the Guercheville Deformed Corridor located 5 kilometres north of the property.
The Nelligan Project is held under an earn-in option to joint venture agreement with Vanstar. The Company holds an undivided 51% interest in the property, and holds an option to earn a further 24% undivided interest in exchange for cash payments totaling C$2,750,000 to Vanstar and the delivery of an NI 43-101 compliant Resource Estimate and Technical Report before March 2022. Once vested to an undivided 75% interest, IAMGOLD will have a further option to acquire an additional interest of 5%, to hold an 80% interest in the Nelligan project by completing and delivering a Feasibility Study. Vanstar would then retain a 20% undivided non-contributory carried interest until the commencement of commercial production, after which: (1) the 20% undivided interest becomes participating; and (2) Vanstar will pay its attributable portion of the total development and construction costs to the commencement of commercial production from 80% of its share of any ongoing distributions from the Joint Venture. Vanstar will also retain a 1% NSR royalty on selected claims of the project.
Table 1 Nelligan Project Drilling Results – 2019 Drilling program | ||||||||||||
Hole No. | UTM NAD83 Zone18 | AZ | DIP | EOH | from | To | Interval | True Width (1) | Au (2) (3) | NOTE | ||
Easting | Northing | Elevation | (°) | (°) | (m) | (m) | (m) | (m) | (m) | (g/t) | ||
NE-19-100 | 522592.86 | 5473859.92 | 375.68 | 330.00 | -50.00 | 447.00 | 98.76 | 109.50 | 10.74 | 8.80 | 0.64 | RENARD ZONE |
115.50 | 132.20 | 16.70 | 14.46 | 1.40 | ||||||||
156.95 | 176.25 | 19.30 | 15.81 | 1.01 | ||||||||
281.50 | 287.10 | 5.60 | 4.59 | 1.00 | ||||||||
NE-19-101 | 523165.25 | 5474067.60 | 371.18 | 330.00 | -50.00 | 300.00 | 129.00 | 155.90 | 26.90 | 17.29 | 0.56 | |
Including (3) | 149.00 | 149.98 | 0.98 | 0.63 | 4.51 | |||||||
NE-19-102 | 522631.36 | 5473897.09 | 375.11 | 330.00 | -47.00 | 375.00 | 87.12 | 96.31 | 9.19 | 8.64 | 0.92 | RENARD ZONE |
Including (3) | 87.12 | 91.50 | 4.38 | 4.12 | 1.34 | |||||||
116.42 | 153.51 | 37.09 | 30.38 | 1.81 | ||||||||
Including (3) | 116.42 | 123.17 | 6.75 | 5.85 | 2.82 | |||||||
Including (3) | 126.91 | 129.92 | 3.01 | 2.47 | 3.80 | |||||||
Including (3) | 141.69 | 151.50 | 9.81 | 8.04 | 2.73 | |||||||
164.83 | 179.46 | 14.63 | 9.40 | 0.58 | ||||||||
192.30 | 200.20 | 7.90 | 6.47 | 1.05 | RENARD ZONE | |||||||
223.40 | 232.00 | 8.60 | 6.59 | 0.61 | ||||||||
NE-19-103 | 522657.68 | 5473952.98 | 372.48 | 330.00 | -50.00 | 280.00 | 31.50 | 55.30 | 23.80 | 19.50 | 2.20 | RENARD ZONE |
Including (3) | 31.50 | 35.25 | 3.75 | 2.87 | 5.92 | |||||||
Including (3) | 50.00 | 55.30 | 5.30 | 4.06 | 3.92 | |||||||
Including (3) | 52.30 | 54.30 | 2.00 | 1.73 | 8.20 | |||||||
74.89 | 99.43 | 24.54 | 21.25 | 0.87 | ||||||||
149.00 | 155.62 | 6.62 | 5.42 | 1.21 | ||||||||
NE-19-104 | 523112.39 | 5474053.92 | 375.25 | 330.00 | -50.00 | 330.00 | 125.88 | 128.88 | 3.00 | 2.30 | 2.72 | |
249.00 | 256.50 | 7.50 | 5.75 | 0.88 | ||||||||
NE-19-105 | 522706.88 | 5473971.67 | 373.47 | 330.00 | -50.00 | 252.00 | 34.55 | 60.70 | 26.15 | 20.03 | 1.69 | RENARD ZONE |
Including (3) | 39.00 | 48.15 | 9.15 | 7.01 | 3.68 | |||||||
Including (3) | 39.00 | 40.35 | 1.35 | 1.03 | 10.85 | |||||||
84.85 | 126.45 | 41.60 | 29.42 | 1.18 | ||||||||
Including (3) | 84.85 | 99.95 | 15.10 | 11.57 | 2.12 | |||||||
NE-19-106 | 522677.57 | 5474033.47 | 372.02 | 330.00 | -50.00 | 225.00 | 50.75 | 83.10 | 32.35 | 24.78 | 0.64 | |
NE-19-107 | 523048.22 | 5474068.97 | 379.72 | 330.00 | -50.00 | 285.00 | No significant results | |||||
NE-19-108 | 522783.82 | 5473927.48 | 378.41 | 330.00 | -47.00 | 330.00 | 55.07 | 92.50 | 37.43 | 32.42 | 1.32 | RENARD ZONE |
Including (3) | 78.35 | 89.36 | 11.01 | 8.18 | 2.40 | |||||||
98.50 | 109.50 | 11.00 | 9.53 | 2.56 | ||||||||
Including (3) | 104.50 | 105.09 | 0.59 | 0.51 | 13.35 | |||||||
120.50 | 193.50 | 73.00 | 63.22 | 1.09 | ||||||||
NE-19-109 | 522722.43 | 5474048.83 | 372.84 | 330.00 | -45.00 | 177.00 | No significant results | |||||
NE-19-110 | 523080.28 | 5474115.31 | 378.87 | 330.00 | -50.00 | 222.00 | 45.00 | 67.50 | 22.50 | 15.91 | 0.53 | |
NE-19-111 | 522826.15 | 5474066.66 | 379.35 | 330.00 | -50.00 | 168.00 | No significant results | |||||
NE-19-112 | 522972.95 | 5474110.40 | 381.63 | 330.00 | -50.00 | 174.00 | 52.50 | 60.00 | 7.50 | 4.82 | 1.25 | |
NE-19-113 | 522820.17 | 5473971.36 | 377.87 | 330.00 | -50.00 | 312.00 | 38.95 | 50.15 | 11.20 | 9.70 | 3.39 | RENARD ZONE |
Including (3) | 40.00 | 43.60 | 3.60 | 3.12 | 7.65 | |||||||
56.20 | 63.14 | 6.94 | 6.01 | 1.07 | ||||||||
106.00 | 149.00 | 43.00 | 35.22 | 0.74 | RENARD ZONE | |||||||
Including (3) | 106.00 | 118.68 | 12.68 | 10.39 | 0.95 | |||||||
Including (3) | 124.00 | 129.00 | 5.00 | 4.10 | 1.29 | |||||||
Including (3) | 134.00 | 149.00 | 15.00 | 11.49 | 0.75 | |||||||
164.00 | 170.00 | 6.00 | 4.24 | 1.02 | ||||||||
182.00 | 188.00 | 6.00 | 4.24 | 56.49 (7.99 capped @ 30 g/t) | ||||||||
Including (3) | 185.00 | 186.50 | 1.50 | 1.06 | 224 | |||||||
NE-19-114 | 523109.04 | 5473743.37 | 372.87 | 330.00 | -49.00 | 552.00 | 128.64 | 143.55 | 14.91 | 12.91 | 0.56 | |
238.00 | 254.70 | 16.70 | 14.46 | 4.04 (3.53 capped @ 30 g/t) | RENARD ZONE | |||||||
Including (3) | 246.00 | 253.73 | 7.73 | 6.69 | 7.02 | |||||||
Including (3) | 247.00 | 248.00 | 1.00 | 0.87 | 38.50 | |||||||
281.25 | 309.67 | 28.42 | 24.61 | 2.11 | ||||||||
Including (3) | 302.80 | 307.80 | 5.00 | 4.33 | 7.05 | |||||||
326.15 | 372.00 | 45.85 | 41.55 | 1.04 | ||||||||
Including (3) | 332.53 | 336.20 | 3.67 | 3.18 | 3.85 | |||||||
427.50 | 436.50 | 9.00 | 7.79 | 1.55 | ||||||||
507.70 | 530.20 | 22.50 | 19.49 | 1.04 | ||||||||
NE-19-115 | 522857.82 | 5474007.58 | 381.27 | 330.00 | -50.00 | 279.00 | 87.00 | 127.28 | 40.28 | 28.48 | 1.04 | RENARD ZONE |
NE-19-116 | 522900.21 | 5474027.23 | 383.17 | 330.00 | -50.00 | 255.00 | 61.40 | 65.60 | 4.20 | 3.22 | 1.65 | RENARD ZONE |
80.50 | 86.05 | 5.55 | 4.25 | 14.95 (8.06 capped @ 30 g/t) | ||||||||
Including (3) | 81.80 | 83.10 | 1.30 | 1.00 | 59.40 | |||||||
91.90 | 105.80 | 13.90 | 10.65 | 0.50 | ||||||||
114.00 | 131.35 | 17.35 | 13.29 | 0.65 | ||||||||
174.00 | 193.00 | 19.00 | 13.44 | 0.73 | ||||||||
NE-19-117 | 523106.60 | 5473956.03 | 372.61 | 330.00 | -50.00 | 402.00 | 65.25 | 69.50 | 4.25 | 3.85 | 1.33 | |
105.50 | 114.50 | 9.00 | 5.79 | 0.98 | ||||||||
187.55 | 196.50 | 8.95 | 7.75 | 0.67 | RENARD ZONE | |||||||
202.30 | 211.13 | 8.83 | 6.76 | 0.81 | ||||||||
230.00 | 237.30 | 7.30 | 5.59 | 1.19 | ||||||||
NE-19-118 | 522965.30 | 5473908.54 | 379.44 | 330.00 | -50.00 | 372.00 | 57.00 | 59.10 | 2.10 | 1.82 | 2.73 | RENARD ZONE |
120.00 | 166.80 | 46.80 | 40.53 | 1.59 | ||||||||
Including (3) | 138.83 | 145.50 | 6.67 | 5.78 | 5.96 | |||||||
202.00 | 228.90 | 26.90 | 23.30 | 1.16 | ||||||||
Including (3) | 208.62 | 215.00 | 6.38 | 5.53 | 2.50 | |||||||
268.77 | 294.50 | 25.73 | 22.28 | 1.08 | ||||||||
Including (3) | 291.50 | 294.50 | 3.00 | 2.60 | 3.57 | |||||||
306.50 | 308.00 | 1.50 | 1.30 | 6.84 | ||||||||
NE-19-119 | 523031.45 | 5473994.43 | 377.61 | 330.00 | -50.00 | 381.00 | 175.50 | 180.72 | 5.22 | 4.28 | 1.64 | RENARD ZONE |
230.34 | 234.50 | 4.16 | 3.60 | 1.47 | ||||||||
NE-19-120 | 522341.5 | 5473691.7 | 370.0 | 330.00 | -50.00 | 552.00 | 243.00 | 253.50 | 10.50 | 6.75 | 2.11 | RENARD ZONE |
Including (3) | 245.00 | 249.00 | 4.00 | 2.57 | 3.94 | |||||||
342.75 | 354.50 | 11.75 | 9.00 | 1.99 | ||||||||
347.00 | 353.00 | 6.00 | 4.60 | 2.70 | ||||||||
365.00 | 384.50 | 19.50 | 14.94 | 1.09 | ||||||||
408.53 | 454.75 | 46.22 | 35.41 | 0.73 | ||||||||
NE-19-121 | 522970.64 | 5474004.50 | 383.17 | 330.00 | -48.00 | 300.00 | 123.80 | 145.12 | 21.32 | 16.33 | 0.61 | |
168.43 | 177.06 | 8.63 | 6.61 | 0.71 | RENARD ZONE |
Notes:
- True widths are estimated at 70 to 94% of the core interval.
- 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.
- Assays intervals are reported uncapped and capped at 30 g/t Au and high grade sub-intervals are highlighted.
Gilles Laverdière is considered a “Qualified Person” for the purposes of National Instrument 43-101 with respect to the technical information being reported on.
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.
Source :
Guy Morissette
CEO Vanstar Mining Resources Inc.
gmvanstar@gmail.com
819-763-5096
www.vanstarmining.com
- Published in Mining, News Home, Vanstar Mining
Vanstar Completes the Acquisition of a 2% NSR Royalty on the Nelligan Property
Momentum Public Relations
Press Release: May 8, 2019
The management of Vanstar Mining Resources (VSR – TSX.V) announces that it has completed the acquisition of a 2% NSR royalty obtained from the two original owners of the Nelligan gold property.
This 2% NSR royalty was obtained under an agreement signed in February 2017 and amended in May 2017. To obtain this royalty, Vanstar had to issue to the original holders 1.2 million shares at the signature as well as issuing two debentures for a total amount of $ 75,000 convertible into shares of the Company at the option of the holders by 2020 and bearing an annual interest rate of 10%.
On April 29, 2019, the holders of the Debentures exercised their conversion right for a total of 340,908 common shares of the Company at a price of $ 0.22. By this conversion, Vanstar thus obtains full and total clearance on this 2% NSR royalty covering the eight original claims of the Nelligan property, these claims covering a large part of all the gold zones currently known on this important gold project (Renard, Liam, Dan, 36 and Lake Eu).
On the other hand, the management of the Company also announces that IAMGOLD Corporation, Vanstar’s partner in the development of the Nelligan project, has just completed an in-fill diamond drilling program targeting the Renard Zone with approximately 17,650 meters drilled this winter for 50 holes. Results will be reported when they are received, validated and compiled.
The results of the drill holes will be used mainly to refine a first gold deposit model and improve the understanding of the Renard Zone, to support the realization of a maiden 43-101 resource estimate and to plan a future drilling program.
The Renard zone is located within a vast gold hydrothermal environment measuring 150 to 250 metres in width. The mineralization of Renard was drill intersected over a strike of more than 1 kilometre and at vertical depth of more than 350 metres and appears to be associated with a long corridor corresponding to a low magnetic anomaly crossing the property from east to west. Both drill holes NE-17-61 and NE-17-64 located from 600 metres to 1.1 kilometres west of the current Renard zone intersected this same horizon with significant gold results (See Sept 5, 2017 Press release). Furthermore, 4 kilometres west of the Renard showing, drill holes done by Bold Ventures in 2017 also intersected gold values (See March 9, 2017 Press release) in the same low magnetic anomaly horizon thus showing the potential presence of gold along this corridor.
The Renard zone remains open laterally and at depth as well are for the Liam, 36 and Dan zones, which are located between 50 and 400 meters to the south. These gold zones show the high gold potential of the Nelligan project.
Finally, following the TSX’s decision regarding the contractual agreement with Momentum PR, the option price previously granted (200,000) at $ 0.17 per share was revised upward to 0.235 $ per share.
This press release has been read and approved by Mr. Gilles Laverdière, independent geologist and qualified person according to the 43-101 standard.
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.
Source:
Guy Morissette
CEO Vanstar Mining Resources Inc.
gmvanstar@gmail.com
819-763-5096
www.vanstarmining.com
- Published in Mining, News Home, Vanstar Mining
Nelligan: A Gold Project Full of Potential
Momentum Public Relations
Press Release: March 20, 2019
The management of Vanstar Mining Resources Inc. (« Vanstar ») provides a new update in the development of the Nelligan gold project, located in the area of Chapais-Chibougamau, Northern Quebec.
The winter 15,000-meter drilling program performed by our partner IAMGOLD Corporation is running its course with a total to date of 7,336 metres drilled over 21 completed drill holes and 2 in progress. The Company expects that 35 drill holes should be completed by the end of this winter program.
The current drill holes intersected large mineralized and silicified zones that correspond to the expected targets and the results from these drill holes combined with previous ones will allow us to produce an initial gold resource estimate of the Renard Zone.
Assay results will be released as soon as they are available
« We are very happy with the progression of the works so far. The summary description of the completed drill holes show for the most parts, that the targets were hit as expected. We remain confident to obtain more significant results within this vast hydrothermal gold system that will allow us to refine our first gold deposit model. » mentioned Mr. Guy Morissette, CEO of Vanstar.
Summary of holes targeting mainly the upper area of Renard Zone.
NE-19-100
This hole ended at 447.00m in a wacke unit hosting 3% of disseminated pyrite. The Renard Zone, that comprises several silicified and well mineralized areas (3-7% pyrite), was intersected on 76.70 m core length from 102.20 m.
NE-19-101
Ended at 300.00 m. This hole exposed wacke to mudrock units, interbedded with silicified intervals mostly from 48 to 66m & from 96 to 118 m.
NE-19-102
Completed at 375 m in a wacke unit. The Renard zone was intercepted at 74.85m and exposed wacke to mudrock units, interbedded with several well mineralized silicified intervals (5-15m).
NE-19-103
This hole ended at 280 m, intersected units of wacke interbedded with a major silicified area (Renard Zone) from 52.3 to 155.6 m hosting 3-7% pyrite.
NE-19-104
This hole ended at 330 m in a mudrock unit. It was targeting the upper area of Renard Zone close to the fault area. This hole intersected several strongly sheared and folded units associated with 1-5% pyrite. Silicified and well mineralized units are reported from 48 to 55.5 m and from 140.8 to 151 m.
NE-19-105
The Renard Zone is reported from 98 to 140 m, with silicified unit hosting 3-4% pyrite, interbedded with metric phlogopite areas from 101 to 102.2 m and from 133.5 m to 140 m. This hole ended at 252 m in a unit of wacke and mudrock.
NE-19-106
Completed at 225 m in a gabbro, a silicified area is reported from 40 to 51.1m (beginning of the hole), hosting 3-5% pyrite and associated to a strong weathering.
NE-19-107
This hole ended at 285.00 m in a wacke unit. Several strongly sheared areas are reported thus far, strongly fractured, hosting 1-3% pyrite – a major area of 8.2 m CNR is reported from 66.8 m.
NE-19-108
This hole ended at 330.00 m in a wacke unit. A wide interval from 42 to 214.20 m reported several well silicified units hosting 5% to 10% pyrite from 145.5 to 179.9 m, interbedded with 5-10m sedimentary units usually well mineralized and deformed.
NE-19-109
Ended at 177.00 m, this hole reported from 44.00 to 49.70m a silicified unit hosting 3% pyrite, then 127.30 m of wacke and mudrock units.
NE-19-110
This hole ended at 222.00 m in a mudrock unit. No silicified area is reported, only wacke and mudrock units are reported.
NE-19-111
An interval from 63.00 to 113.80 m reported several silicified units hosting 3-5% pyrite, interbedded with 5-10m wacke and mudrock units mineralized and deformed. This hole ended at 168.00 m in a mudrock unit.
NE-19-112
This hole ended at 174.00 m in a wacke-mudrock unit. The hole intersected from 47.70 to 55.90 m a silicified unit hosting 3% pyrite cut by 1m of CNR, then 118.10 m of wacke and mudrock units.
NE-19-113
This hole ended at 312.00 m. After several deformed and brecciated sedimentary unit, the hole reported from 95.50 to 143.40 m a silicified unit hosting 10% pyrite cut by 4.00m of mudrock unit. Then 58.80 m of phlogopite area hosting disseminated 1-3%Py reported just before a new silicified area.
NE-19-114
This hole ended at 552.00 m in a wacke unit. Two silicified area are reported from 239.00 to 255.70 m (hosting 5-10% Py) and from 309.70 at 390.10m (hosting 5-7%Py). Those two zones are interbedded with sedimentary unit, iron formation and breccia unit.
NE-19-115
Ended at 279.00 m, the hole reported several silicified units mainly from 125.00 to 165.70 m hosting 5-7% pyrite, interbedded with sedimentary units.
NE-19-116
This hole ended at 252.00 m. The hole reported several sedimentary and iron formation units. One silicified area is reported from 128.60 to 166.00 m hosting 5% pyrite.
NE-19-117
Completed at 402.00 m , this drill hole started in a strongly weathered unit, moderately mineralized, followed by wacke and mudrock units interbedded with some tectonic breccia occurences. The Renard Zone was intercepted from 209.85 to 279.70 with a strongly silicified unit (different kind of protolith) and the phlogopite zone at footwall.
NE-19-118
Ended at 372.00 m in a wacke, this hole started in a tectonic breccia followed with by a mylonite at 121.20 and a major silicified zone from 125.00 to 157.37 m. A second silicified unit was intercepted from 213.90 to 281.30 m, merging with the phlogopite zone and some dyke occurrences.
NE-19-119
This hole ended at 381.00 m. The hole started with magnetic mudrock interbedded with wacke and tectonic breccia units, moderately to strongly hematized. The Renard Zone was intercepted from 148.45 to 230.15 m with a silicified unit and the phlogopite zone at footwall.
NE-19-120
This hole ended at 552.00 m in an iron formation. It was targeting the extension west of Renard zone at the surface. The hole reported several sedimentary units (mudrock, wacke, conglomerate and iron formation). One silicified area is reported from 230.50 to 272.50 m hosting 7-10% disseminated pyrite.
NE-19-121
This hole ended at 300.00 m in a basalt unit. The Renard Zone was intercepted from 127.90 to 193.50m with a silicified unit and the phlogopite zone at footwall.
NE-19-122 and NE-19-123
These holes are under progress.
Miron Block
Our partner IAMGOLD Corporation also completed an aerial geophysics survey on the east part of the property (Miron Block). This block that was integrated to the Nelligan project has been covered by an heli-borne High Resolution magnetic survey carried out by Geo Data Solutions. The results are of high quality. ( see attached map )
IMG- VSR Agreement
According to the 2018 amended agreement, IAMGOLD Corporation can acquire a 75 % interest in the Nelligan project in exchange for providing a 43-101 resource estimate and cash payments for a total of $2,750,000 comprising of 3 annual payments of $400,000 and a residual payment of $1,550,000 on or before 2022. IMG can also acquire an additional 5% interest by delivering a feasibility study. Vanstar would then own a non-contributary 20 % undivided interest (Net Carried Interest), despite the sums to be invested in an eventual production phase.
When a production decision is achieved, IAMGOLD Corporation (IMG) would pay for all the expenses required to complete this ultimate phase. Although, Vanstar would have to participate, prorated to its auto-generated revenues from the Nelligan project, to the reimbursement of the portion of the production phase cost relative to its undivided 20 % interest in the project. In addition, Vanstar owns a 1% NSR royalty on some mining cells that are part of the main gold showings. This royalty was acquired from the original owners.
Also, if Vanstar would sell its 20 % undivided interest to IMG in exchange for an offer based on 2 independent evaluations, Vanstar would obtain, in addition of the sale proceeds of its 20% interest, a 1.5 % NSR royalty on the whole property and a 2.5% NSR royalty for the portion from the original owners.
Vanstar has also received from its partner IAMGOLD a cash payment of $400,000 earlier this month, as part of the 2018 agreement. Since January 1st, 2019, stock options were exercised for proceeds of $104,240 and warrants were exercised for proceeds of $172,500 for Vanstar. The company has more than $2,600,000 in cash.
As part of its operations, the company continues to evaluate different projects and opportunities to improve shareholder value.
This press release was read and approved by Gilles Laverdière, Vanstar’s Geologist and Qualified Person under NI-43-101.
Forward Looking Statement
This news release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding expected, estimated or planned gold production, cash costs, margin expansion, capital expenditures and exploration expenditures and statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “to earn”, “to have’, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to meet expected, estimated or planned gold production, cash costs, margin expansion, capital expenditures and exploration expenditures and failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company’s expectations, changes in world gold markets and other risks. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.
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.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
Source :
Guy Morissette
CEO Vanstar Mining Resources Inc.
gmvanstar@gmail.com
819-763-5096
www.vanstarmining.com
The map associated with this press release is available at the following address:
http://ml.globenewswire.com/Resource/Download/a817d935-7a7f-47f1-821c-437661e2fed1
- Published in Mining, News Home, Vanstar Mining
The Nelligan Project: a Gold Vessel Sailing on a Vast Gold Hydrothermal System
Momentum Public Relations
Press Release: February 19, 2019
Management of Vanstar Mining Resources Inc. (« Vanstar ») provides an update on its Nelligan gold project as well as a retrospective of the drill results highlights from the main gold showings of the Nelligan project.
IAMGOLD Corporation, Vanstar’s partner in the development of the Nelligan project, started last January a new 15,000-meter winter drilling program. 4,750 metres of drilling has been completed so far and the 16 drill holes have intersected their intended targets. The drill cores are being prepared for assays and results will be announced as soon as they become available.
The objectives of the 2019 drilling program is to: 1) refine an initial gold deposit model by merging previous results with current ones 2) support an initial 43-101 resource estimate and 3) help position future drilling campaigns.
«We are very pleased with the progress and quality of the work executed by our partner. The Nelligan project requires patience, efforts and work in order to become a major gold project in Canada. The targets are at the right place and we remain very optimistic that those results will be as good as the previous ones. » stated Mr. Guy Morissette, CEO of Vanstar.
The Nelligan project
The Nelligan project comprises 158 mining cells covering an area of 8,216 hectares located south of Chapais, in Northern Quebec. It includes many important gold zones namely the Renard, 36, Liam, Dan and Lac d’Eu zones. The Liam and Dan zones as well as the east portion of the 36 zone were discovered by drilling in 2013-2014 while the Renard and 36 west zones, located some hundreds of meters north, were found in 2016. The historical showing of the Lac d’Eu, located north-east of the mentioned zones, is known since the mid-1990s.
The Renard zone is located within a vast gold hydrothermal environment measuring 150 to 250 metres in width. This showing was drill intersected over a strike of more than 1 kilometre and at vertical depth of more than 450 metres and appears to be associated with a long corridor corresponding to a low mag anomaly crossing the property from east to west. Drill holes NE-17-61 and NE-17-64 located from 700 metres to 1.2 kilometres west of the Renard zone, both intersected this same horizon with significant gold results (See Sept 5, 2017 Press release). Furthermore, 4 kilometres west of the Renard showing, drill holes done by Bold Ventures in 2017 also intersected gold values ( See March 9, 2017 Press release) thus showing the presence of gold along this corridor.
The Renard zone remains open laterally and at depth.
The 36 zone is located between the Renard and Liam zones and comprises two blocks (east and west) within a silicified, brecciated and hematized geological environment.
The structure of this showing was intersected over many hundreds of metres by 5 to 10 metres wide, at vertical depth of 250 metres. Zone 36 remains open in all directions.
The Liam and Dan zones were drill intersected on widths up to 30 metres, over 700 metres in length and at vertical depth of more than 300 metres. Associated with silicified zones and silicified and hematized conglomerates, the Liam and Dan showings are located near major faults oriented SSW.
All these zones remain open laterally and at depth.
See maps attached
The following table shows highlights from these gold zones.
Renard Zones | |||
Drill holes | Width | Grade | |
(m) | (g/t Au) | ||
NE-16-44 | 10.34 | 4.43 | |
NE-16-48 | 11.60 | 3.19 | |
NE-16-49 | 37.50 | 3.60 | |
NE-17-64 | 11.28 | 2.78 | |
NE-18-69 | 30.80 | 2.66 | |
Including | 15.16 | 3.28 | |
NE-18-75 | 23.10 | 2.59 | |
NE-18-84 | 82.60 | 3.31 | |
NE-18-87 | 27.20 | 3.48 | |
NE-18-91 | 12.70 | 3.98 | |
NE-18-95 | 38.16 | 3.59 | |
Including | 2.60 | 12.80 | |
NE-18-96 | 24.03 | 5.69 | |
Including | 5.89 | 19.89 | |
NE-18-97 | 8.60 | 4.16 | |
NE-18-98 | 12.12 | 5.04 | |
Including | 3.46 | 9.79 | |
NE-18-99 | 13.19 | 2.42 | |
And | 30.95 | 2.35 | |
Liam, Dan and 36 zones | |||
Drill holes | Width | Grade | |
(m) | (g/t Au) | ||
NE-13-04 | 20.70 | 2.04 | |
Including | 10.50 | 2.30 | |
NE-13-08 | 15.10 | 3.74 | |
Including | 11.60 | 4.69 | |
NE-14-17A | 8.40 | 3.04 | |
NE-14-21 | 19.60 | 2.34 | |
Including | 4.30 | 5.53 | |
NE-14-22 | 20.00 | 2.28 | |
Including | 6.00 | 5.90 | |
NE-15-25 | 6.00 | 9.58 | |
NE-16-32 | 12.00 | 3.18 | |
NE-16-36 | 17.87 | 3.20 | |
Including | 4.20 | 6.78 | |
NE-18-81 | 12.20 | 3.93 | |
NE-18-89 | 14.30 | 4.26 | |
Visible gold and molybdenum were often observed within these gold zones.
IMG- VSR Agreement
According to the 2018 amended agreement, IAMGOLD Corporation can acquire a 75 % interest in the Nelligan project in exchange for providing a 43-101 resource estimate and cash payments for a total of $2,750,000 comprising of 3 annual payments of $400,000 and a residual payment of $1,550,000 on or before 2022. IMG can also acquire an additional 5% interest by delivering a feasibility study. Vanstar would then own a non-contributary 20 % undivided interest (Net Carried Interest), despite the sums to be invested in an eventual production phase.
When a production decision is achieved, IAMGOLD Corporation (IMG) would pay for all the expenses required to complete this ultimate phase. Although, Vanstar would have to participate, prorated to its auto-generated revenues from the Nelligan project, to the reimbursement of the portion of the production phase cost relative to its undivided 20 % interest in the project. In addition, Vanstar owns a 1% NSR royalty on some mining cells that are part of the main gold showings. This royalty was acquired from the original owners.
Also, if Vanstar would sell its 20 % undivided interest to IMG in exchange for an offer based on 2 independent evaluations, Vanstar would obtain, in addition of the sale proceeds of its 20% interest, a 1.5 % NSR royalty on the whole property and a 2.5% NSR royalty for the portion from the original owners.
Vanstar has also received from its partner IAMGOLD a cash payment of $400,000 earlier this month, as part of the 2018 agreement. One officer and a director exercised part of their stock options for proceeds of $18,500 for Vanstar and 950,000 warrants were exercised in 2019 for proceeds of $95,000. The company has more than $2,500,000 in cash.
As part of its operations, the company continues to evaluate different projects and opportunities to improve shareholder value.
This press release was read and approved by Gilles Laverdière, Vanstar’s Geologist and Qualified Person under NI-43-101.
Forward Looking Statement
This news release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding expected, estimated or planned gold production, cash costs, margin expansion, capital expenditures and exploration expenditures and statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “to earn”, “to have’, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to meet expected, estimated or planned gold production, cash costs, margin expansion, capital expenditures and exploration expenditures and failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company’s expectations, changes in world gold markets and other risks. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.
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.
Source :
Guy Morissette
CEO Vanstar Mining Resources Inc.
gmvanstar@gmail.com
819-763-5096
Maps associated with this press release are available at the following addresses:
http://www.globenewswire.com/NewsRoom/AttachmentNg/029f609f-eb90-4edc-8d99-ca09f7a1d62b
http://resource.globenewswire.com/Resource/Download/e4075c68-822f-4273-92fc-95815dc5117c
http://resource.globenewswire.com/Resource/Download/d41a8bed-6af3-4592-8736-418f04a3e207
- Published in Mining, News Home, Vanstar Mining
Vanstar Reports Drilling Intersections of 3.59 g / t Au Over 42.1 Metres and 5.69 g / t Au Over 27.8 Metres From the Nelligan Project
Momentum Public Relations
Press Release: January 10, 2019
The management of Vanstar Mining Resources Inc. (“Vanstar”) is very pleased to announce that IAMGOLD Corporation, Vanstar’s partner in the development of the Nelligan gold project, intersected a series of significant drill results from the Renard zone. These results come from 9 drill holes for a total of 4,497 metres.
|
The assay results reported herein are provided in Table 1 below as well as a location map and include the following highlights:
• | Drill hole NE-18-91: | 22.0 metres grading 1.43 g / t Au |
And 32.9 metres grading 1.28 g / t Au | ||
And 57.5 metres grading 1.87 g / t Au | ||
Including: 12.7 metres grading 3.98 g / t Au |
||
• | Drill hole NE-18-93: | 55.0 metres grading 1.47 g / t Au |
Including: 4.5 metres grading 4.88 g / t Au |
||
• | Drill hole NE-18-95: | 42.1 metres grading 3.59 g / t Au |
Including: 3.0 metres grading 12.8 g / t Au |
||
• | Drill hole NE-18-96: | 27.8 metres grading 5.69 g / t Au |
Including: 6.8 metres grading 19.9 g / t Au |
||
And 17.8 metres grading 1.66 g / t Au | ||
• | Drill hole NE-18-97 : | 17.5 metres grading 1.49 g / t Au |
32.4 metres grading 1.10 g / t Au | ||
44.5 metres grading 1.61 g / t Au | ||
Including : 10.5 metres grading 4.16 g / t Au |
||
• | Drill hole NE-18-98 : | 14 metres grading 5.04 g / t Au |
Including : 4 metres grading 9.79 g/t Au
|
||
And : 16.50 metres grading 1.16 g/t Au | ||
• | Drill hole NE-18-99: | 16.1 metres grading 2.42 g / t Au |
And 40.4 metres grading 2.35 g / t Au |
“We are very satisfied with the results generated and very optimistic on the gold potential of the Nelligan project. This project increasingly shows that it has the possibility to become one of the most promising gold projects in Quebec, if not in Canada. We are in the presence of 4 important gold zones, including the Renard zone, which are integrated within a vast hydrothermal gold system that remains open in all directions. We are excited to start the next season, which we hope will be as productive and encouraging as 2018.” stated Guy Morissette, CEO of Vanstar.
Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated: “The 2018 drilling program has delivered encouraging results in all the drill holes completed this year, confirming and extending the wide zones of alteration and associated mineralization identified from previous programs. Four mineralized zones were outlined through the recent drilling campaigns, the most significant to date being the Renard system, and all zones remain open for potential extensions. These results will be used to refine a preliminary deposit model to help guide future drilling campaigns and support the completion of an initial resource estimate planned in the coming months.”
The 2018 diamond drilling program was meant to evaluate the resource potential of the Renard mineralization system, located immediately north of the previously known 36, Liam and Dan zones. The drill holes continue to intersect large gold zones within a vast hydrothermal system characterized by a carbonate, sericite, phlogopite alteration and an omnipresent silicification affecting the host meta-sedimentary sequence. The disseminated pyrite is widely spread within the alteration zones and varies locally from 1% to 15%. Traces of molybdenite and sometimes fine grains of visible gold are observed in different gold zones.
Next Steps
In winter 2019, a further 12,000 to 15,000 metres of diamond drilling program is planned to infill and further test continuity of the mineralized zones of the Renard system. Drill rigs are currently being mobilized to the property with the commencement of drilling activities expected by mid-January.
The drilling results, coupled with ongoing geochemical and structural studies, will be integrated to support the development and refinement of a deposit model with the objective of completing an initial NI 43-101 compliant resource estimate in 2019.
About the Nelligan Project
The Nelligan project is underlain by a portion of the Caopatina segment belonging to the North Volcanic Zone of the Abitibi Belt of the Superior Province. The property is centered on the E-W Druillette synclinal with sediments of the Caopatina Formation bounded to the north and to the south by volcanic rocks of the Obatogamau Formation. The North and South portions of the property are occupied by granodioritic to tonalitic intrusions. The project is transected by numerous regional and local structures and deformation zones which can be important in the localization of gold mineralization.
Gold showings of the area can be grouped according to their style of mineralization: Quartz-sulphide vein type mineralization and disseminated pyrite mineralization. On the local scale, the Nelligan project contains several interesting gold showings, including the Liam and Dan Zones discovered by drilling in 2013 and 2014, and the historical Lake Eu showing. Significant alteration and associated gold mineralization was intersected over wide intervals to the north of the known gold showings over a strike length of more than 1.0 kilometre, to a depth of over 300 vertical metres (Zones 36 and Renard). These prospective showings appear to fall within a structural corridor with a potential strike length of several kilometres associated to the Guercheville Deformed Corridor located 5 kilometres north of the property.
The Nelligan Project is held under an earn-in option to joint venture agreement with Vanstar. The Company holds an undivided 51% interest in the property, and holds an option to earn a further 24% undivided interest in exchange for cash payments totaling C$2,750,000 to Vanstar and the delivery of an NI 43-101 compliant Resource Estimate and Technical Report before March 2022. Once vested to an undivided 75% interest, IAMGOLD will have a further option to acquire an additional interest of 5%, to hold an 80% interest in the Nelligan project by completing and delivering a Feasibility Study. Vanstar would then retain a 20% undivided non-contributory carried interest until the commencement of commercial production, after which: (1) the 20% undivided interest becomes participating; and (2) Vanstar will pay its attributable portion of the total development and construction costs to the commencement of commercial production from 80% of its share of any ongoing distributions from the Joint Venture. Vanstar will also retain a 1% NSR royalty on selected claims of the project.
This press release was read and approved by Gilles Laverdière, Vanstar’s 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.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
Source : Guy Morissette
CEO Vanstar Mining Resources Inc.
gmvanstar@vanstarmining.com
819-763-5096
Table 1 Nelligan Project Drilling Results – 2018 Drilling program |
||||||||||||
Hole No. | UTM NAD83 Zone18 | AZ | DIP | EOH | from | To | Interval | True Width (1) | Au (2) (3) | NOTE | ||
Easting | Northing | Elevation | (°) | (°) | (m) | (m) | (m) | (m) | (m) | (g/t) | ||
NE-18-90 | 522,500.6 | 5,473,657.4 | 373.9 | 335 | -45 | 486.00 | 287.10 | 292.00 | 4.90 | 4.83 | 1.35 | RENARD ZONE |
328.50 | 334.50 | 6.00 | 4.24 | 1.18 | ||||||||
370.50 | 396.00 | 25.50 | 20.89 | 0.99 | ||||||||
421.00 | 441.00 | 20.00 | 16.38 | 0.66 | ||||||||
NE-18-91 | 523,023.1 | 5,473,900.9 | 375.7 | 333 | -58 | 381.00 | 95.50 | 117.50 | 22.00 | 16.85 | 1.43 | RENARD ZONE |
Including (3) | 100.60 | 106.55 | 5.95 | 4.56 | 2.90 | |||||||
126.30 | 159.20 | 32.90 | 28.49 | 1.28 | ||||||||
Including (3) | 132.00 | 136.50 | 4.50 | 3.90 | 3.29 | |||||||
167.00 | 178.30 | 11.30 | 9.79 | 0.71 | ||||||||
182.00 | 197.50 | 15.50 | 14.05 | 0.88 | ||||||||
Including (3) | 189.00 | 192.00 | 3.00 | 2.72 | 2.13 | |||||||
214.00 | 271.50 | 57.50 | 52.11 | 1.87 | ||||||||
Including (3) | 232.47 | 245.18 | 12.71 | 11.01 | 3.98 | |||||||
Including (3) | 265.00 | 265.50 | 0.50 | 0.47 | 33.20 | |||||||
352.50 | 367.50 | 15.00 | 12.99 | 0.56 | ||||||||
NE-18-93 | 522,873.5 | 5,473,765.1 | 378.9 | 330 | -48 | 450.00 | 288.50 | 343.50 | 55.00 | 42.13 | 1.47 | RENARD ZONE |
Including (3) | 306.00 | 312.00 | 6.00 | 4.60 | 3.22 | |||||||
Including (3) | 321.00 | 325.50 | 4.50 | 3.45 | 4.88 | |||||||
381.00 | 396.00 | 15.00 | 11.49 | 1.69 | ||||||||
430.50 | 435.00 | 4.50 | 3.45 | 2.29 | ||||||||
NE-18-94 | 522,567.8 | 5,473,588.6 | 376.2 | 335 | -45 | 450.00 | 391.00 | 402.65 | 11.65 | 10.56 | 0.90 | RENARD ZONE |
406.50 | 416.50 | 10.00 | 9.06 | 1.20 | ||||||||
438.50 | 448.50 | 10.00 | 9.06 | 0.76 | ||||||||
NE-18-95 | 522,934.4 | 5,473,692.6 | 376.1 | 330 | -65 | 630.00 | 51.00 | 59.80 | 8.80 | 5.66 | 0.76 | 36 West ZONE |
183.60 | 237.30 | 53.70 | 48.67 | 0.97 | ||||||||
Including (3) | 222.00 | 237.30 | 15.30 | 13.87 | 1.55 | |||||||
250.20 | 265.00 | 14.80 | 13.41 | 1.63 | ||||||||
Including (3) | 251.60 | 256.00 | 4.40 | 3.99 | 2.34 | |||||||
Including (3) | 257.90 | 261.00 | 3.10 | 2.81 | 3.09 | |||||||
378.10 | 420.20 | 42.10 | 38.16 | 3.59 | RENARD ZONE | |||||||
Including (3) | 378.10 | 379.50 | 1.40 | 1.32 | 14.25 | |||||||
Including (3) | 399.50 | 402.50 | 3.00 | 2.60 | 12.80 | |||||||
441.00 | 450.90 | 9.90 | 7.58 | 1.31 | ||||||||
495.50 | 504.50 | 9.00 | 5.79 | 1.23 | ||||||||
510.50 | 514.50 | 4.00 | 2.57 | 3.07 | ||||||||
522.00 | 538.50 | 16.50 | 10.61 | 1.09 | ||||||||
NE-18-96 | 522,613.8 | 5,473,656.1 | 380.3 | 335 | -45 | 525.00 | 307.65 | 325.00 | 17.35 | 14.21 | 0.97 | RENARD ZONE |
335.25 | 363.00 | 27.75 | 24.03 | 5.69 | ||||||||
Including (3) | 342.00 | 348.80 | 6.80 | 5.89 | 19.89 | |||||||
Including (3) | 342.85 | 344.30 | 1.45 | 1.26 | 79.40 | |||||||
379.00 | 380.50 | 1.50 | 1.15 | 17.15 | ||||||||
390.25 | 408.00 | 17.75 | 16.09 | 1.66 | ||||||||
Including (3) | 402.00 | 402.95 | 0.95 | 0.86 | 12.55 | |||||||
457.50 | 472.20 | 14.70 | 12.73 | 1.02 | ||||||||
502.00 | 515.00 | 13.00 | 11.26 | 0.96 | ||||||||
NE-18-97 | 522,859.0 | 5,473,569.1 | 378.7 | 330 | -45 | 647.30 | 57.00 | 74.50 | 17.50 | 15.16 | 1.49 | LIAM ZONE |
Including (3) | 57.00 | 66.00 | 9.00 | 7.79 | 2.21 | |||||||
137.00 | 147.50 | 10.50 | 9.87 | 1.67 | 36 West ZONE | |||||||
Including (3) | 144.50 | 146.00 | 1.50 | 1.41 | 5.50 | |||||||
161.65 | 194.00 | 32.35 | 29.32 | 1.10 | ||||||||
406.50 | 422.00 | 15.50 | 11.87 | 1.64 | RENARD ZONE | |||||||
Including (3) | 410.00 | 411.50 | 1.50 | 1.15 | 10.25 | |||||||
443.00 | 487.50 | 44.50 | 36.45 | 1.61 | ||||||||
Including (3) | 445.50 | 456.00 | 10.50 | 8.60 | 4.16 | |||||||
497.50 | 511.50 | 14.00 | 12.12 | 1.46 | ||||||||
517.50 | 534.50 | 17.00 | 14.72 | 1.30 | ||||||||
576.47 | 589.50 | 13.03 | 11.28 | 0.80 | ||||||||
Table 1 Nelligan Project Drilling Results – 2018 Drilling program | ||||||||||||
Hole No. | UTM NAD83 Zone18 | AZ | DIP | EOH | from | To | Interval | True Width (1) | Au (2) (3) | NOTE | ||
Easting | Northing | Elevation | (°) | (°) | (m) | (m) | (m) | (m) | (m) | (g/t) | ||
NE-18-98 | 522,638.4 | 5,473,569.2 | 377.2 | 330 | -52 | 552.00 | 432.00 | 446.00 | 14.00 | 12.12 | 5.04 | RENARD ZONE |
Including (3) | 439.00 | 443.00 | 4.00 | 3.46 | 9.79 | |||||||
507.70 | 524.20 | 16.50 | 13.52 | 1.16 | ||||||||
533.20 | 542.20 | 9.00 | 7.37 | 0.60 | ||||||||
NE-18-99 | 523,108.7 | 5,473,898.1 | 372.4 | 335 | -55 | 366.00 | 55.10 | 69.00 | 13.90 | 10.65 | 0.56 | RENARD ZONE |
93.00 | 99.40 | 6.40 | 4.90 | 0.83 | ||||||||
103.40 | 126.00 | 22.60 | 15.98 | 1.09 | ||||||||
Including (3) | 108.00 | 114.00 | 6.00 | 4.24 | 2.05 | |||||||
138.00 | 147.00 | 9.00 | 7.37 | 1.08 | ||||||||
192.00 | 208.10 | 16.10 | 13.19 | 2.42 | ||||||||
Including (3) | 204.20 | 205.54 | 1.34 | 1.10 | 14.75 | |||||||
236.00 | 276.40 | 40.40 | 30.95 | 2.35 | ||||||||
Including (3) | 272.60 | 273.60 | 1.00 | 0.77 | 50.60 | |||||||
281.50 | 303.00 | 21.50 | 15.20 | 0.84 | ||||||||
316.00 | 325.80 | 9.80 | 6.93 | 1.64 | ||||||||
355.50 | 366.00 | 10.50 | 8.60 | 0.69 | ||||||||
4,487.30 | ||||||||||||
Notes: | ||||||||||||
1. True widths are estimated at 70 to 94% 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. |
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/08ea8bca-1589-4bde-b64c-e86ed30c380e
- Published in Mining, News Home, Vanstar Mining
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