Vanstar Acquires a 50% Interest in the Cookie Monster Property
14 June 2013 - 10:30PM
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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