Vanstar Mining Resources Inc.: Major Gold Discovery on the Nelligan Property
26 November 2013 - 11:00PM
Marketwired Canada
The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) announces that
it has intersected a new and important gold bearing structure while drill
testing a low mag anomaly exhibiting a minimum lateral extension of 900 meters.
Drill hole NE-13-04 cut an altered, silicified and mineralized structure over a
core length of 37.6 m including a section of 31.00 meters grading 1:84 g/t Au
which itself includes a section of 20.70 meters grading 2.04 g/t Au (see table
below). This hole was drilled on the Nelligan property located some 45 km south
of the village of Chapais in NW Quebec.
The recently named "Liam Gold Structure" was intersected at a vertical depth of
55 meters and could easily reach surface under the overburden. If this is the
case, a portion of the deposit might have the potential for open pit mining.
See Map attached: http://media3.marketwire.com/docs/Nelligan_Map_913695.JPG
The Liam gold zone lies within an intensive deformation corridor which is
interpreted to coincide with a NE-SW striking 900 meter long low mag anomaly.
Hosted in a meta-sedimentary environment, the core of the zone is strongly
silicified with 1-2% disseminated pyrite over 20 meters of core length. 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. Gold distribution seems to be homogeneous in
the matrix as indicated by the presence of anomalous gold values in all 29
samples collected through the new zone.
Drill hole NE13-07, located 50 meters behind NE13-04 and on the same section,
also cut the mineralized zone but at a deeper level while holes NE13-08 and
NE13-09, located on both sides of NE13-04, should be completed this week.
Results should be available soon.
Further ongoing analysis will determine if other economic minerals are
associated with the gold.
"It's really fantastic to discover a gold structure of this magnitude in a
completely new sector, never previously explored. Being associated with a
magnetic anomaly more than 900 meters in length, the gold potential of this
structure is undeniable. Ongoing drilling will allow us to have a better
overview of its potential in the coming days. " to comment Mr. Guy Morissette,
President and CEO of the company.
Mila gold zone
Located some 900 meters to the east of drill hole NE13-04, the Mila gold zone is
also a new gold showing related to a 700 meter long low mag anomaly. It was
intersected by drill hole NE13-01 which returned a 4.5 meter section grading
1.03 g/t Au. Anomalous gold values were also returned from other portions of
this drill hole.
Units intersected in this drill hole are strongly fractured and the company
estimates that core recovery was not higher than 70%. This gold zone could also
extend to the surface, below the overburden, as it was cut at a vertical depth
of only 20 meters.
Further drilling is required to properly outline the mineralized zone and
potential high grade areas. The company is very encouraged by the presence of
gold along such an extensive geophysical structure and intends to dedicate
exploration funding in the future.
Lac d'Eu gold showing
About 500 meters to the NE of the new gold discovery, we observe the lac d'Eu
gold showing which includes several gold structures within a highly mineralized
corridor containing quartz veins and quartz stockwork, again within a
meta-sedimentary environment.
It shall be recalled that earlier drilling completed by the company in 2012
returned gold anomalies from most holes through this zone.
Recent diamond drill hole NE13-03, located along its southwestern extension,
returned 1.37 g/t Au over 30 meters (core length) including 6 meters grading
5.36 g/t Au. These results further confirm the potential of this NE-SW striking
gold bearing zone which is now recognized over more than 700 meters laterally.
(see website for photos, videos and additional information: www.vanstarmining.com)
DRILLING RESULTS - 2013 PROGRAM
Drilling Area From-To Thickness Grade
(meters) (meters) (g/t Au)
NE13 - 01 Mila 34.5 - 39.0 4.5 1.03
And 70.50 - 72.0 1.5 1.19
And 103.5 - 105.0 1.5 1.54
NE13 - 03 Lake Eu 61.50 - 91.50 30.0 1.37
Including 61.50- 67.50 6.0 5.36
And 174.0 - 175.50 1.5 1.09
NE13 - 04 Liam 79.40 - 117.0 37.60 1.64
Including 86.00- 117.00 31.00 1.84
Including 90.00- 110.70 20.70 2.04
Including 90.00- 100.50 10.50 2.30
86.0 0 - 87.00 1.00 6.24
90.00 - 91.50 1.50 1.90
91.50 - 93.00 1.50 4.30
93.00 - 93.90 .90 2.06
93.90 - 95.40 1.50 2.44
95.40 - 96.90 1.50 1.73
96.90 - 98.40 1.50 1.75
98.40 - 99.50 1.10 1.43
99.50 - 100.50 1.00 2.52
100.50 - 102.00 1.50 1.07
102.00 - 103.20 1.20 1.87
103.20 - 104.70 1.50 1.34
104.70 - 106.20 1.50 1.39
106.20 - 107.70 1.50 2.85
107.70 - 109.20 1.50 2.18
109.20 - 110.70 1.50 1.72
110.70 - 112.20 1.50 0.42
112.20 - 113.70 1.50 0.80
113.70 - 114.90 1.50 0.54
114.90 - 115.50 0.60 4.03
115.50 - 117.00 1.50 1.95
Three other holes have been completed in this first phase. Holes NE13-02,
NE13-05 and NE13-06 were drill to test other magnetic targets to the south and
west of the new discovery. No significant results were obtained. The current
program will now be concentrated on the Liam zone.
Nelligan Project
The 100% owned Nelligan property consists of 40 cells totaling 2,080 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.
Samples were recorded, packaged and sent to the certified Lab Expert Inc.
facility in Rouyn-Noranda. They were assayed for gold by FAA on a 30 gram pulp.
Sample exceeding 1 g/t Au were re-assayed by FA with a gravity finish. Company's
QA/QC procedures include random insertions of certified standard material and
blanks as well as the use of duplicates. NQ size core was described, sampled and
split in two at the company's logging facility in Rouyn-Noranda.
The work was performed under the supervision of Daniel Kelly, consulting
geologist and qualified person as per 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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