VANCOUVER, British Columbia, July 07, 2022 (GLOBE NEWSWIRE) -- Vanstar Mining Resources (TSXV:VSR) (OTCQX:VMNGF) (FSE:1V8), a gold exploration company, announced assay results from its 2022 winter diamond drill program at its Nelligan joint venture project in Northern Quebec. Vanstar owns a 25% interest and a 1% NSR in the Nelligan project, which won the "Discovery of the Year" award at the 2019 Quebec Mineral Exploration Association Xplor Gala, with IAMGOLD holding the other 75%.
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The Nelligan Gold project hosts Inferred Mineral Resources containing 3.2 million ounces of gold grading 1.02 grams per tonne gold, with Vanstar having a 25% share.
The 2022 winter diamond drill program, completed by IAMGOLD, consisted of 4,714 metres in 8 holes, with the company reporting that nearly all the holes intercepted multiple wide intercepts of gold mineralization at higher-than-average grades.
Highlights include:
Hole NE-22-194
- 7.9 m of 6.71 g/t gold
- 41.3 m of 1.38 g/t gold
- 69 m of 2.24 g/t gold, and
- 35 m of 1.64 g/t gold
Hole NE-22-192
- 28.0 m of 0.96 g/t gold
- 52.3 m of 1.60 g/t gold, and
- 25.5 m of 1.35 g/t gold
Hole NE-22-193
- 16.5 m of 2.58 g/t gold
- 13.9 m of 4.71 g/t gold
- 57.6 m of 1.38 g/t gold, and
- 48 m of 1.08 g/t gold
Hole NE-22-198
- 27.9 m of 2.31 g/t gold and
- 23.8 m of 3.21 g/t gold
Vanstar has several properties located in Northern Québec at different stages of development. Vanstar is earning 75% into the Bousquet-Odyno project located along the Cadillac Break. Vanstar also owns 100% of the Felix property in the Chicobi Group, the Amanda property, a 7,306 hectare property located on the Auclair formation with historic gold showings up to 12.1 g/t gold over 3 metres, and the Frida and Eva properties located in the James Bay area.
The shares are trading at $0.37. For more information, please visit the company's website at , contact JC St-Amour, President and CEO, at 647-296-9871 or email jc@VanstarMining.com.
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