Vanstar Announces Start of Work on Nelligan Propertie
August 22, 2013 (Source: Marketwired) — The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) announced the resumption of its work on the Nelligan property, located in the Chapais-Chibougamau area, in Northern Quebec. The first phase, which should be followed by a program of drilling of approximately 3,000 meter, will consist of a geological survey, magnetic survey and prospecting in the west and southwest of the Nelligan gold zone part. (See map at http://file.marketwire.com/release/VANSTAR_Mag_Nelligan_Maps_2500.pdf)
«We are very optimistic about the gold potential of the Nelligan project. A dozen holes drilled in part by Vanstar in 2012 intersected an important gold-bearing corridor on more than 700 meters long and more than 100 meters wide. Several gold-bearing zones have been detected within it and according to the magnetic geophysical survey; this corridor could continue for more than 1.7 km. Another significant magnetic anomaly more than 500 meters long is present just south of the main zone. The geological environment, geophysical survey and the presence of gold in our previous drilling seem very favorable to obtain significant results during our next work» emphasized the Chairman of the company Mr. Guy Morissette.
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The main fault lying in the western extension of the known gold zone will be the priority target for the next campaign. The company will also test by drilling magnetic targets including a magnetic anomaly more than 500 meters long located a few hundred meters south of the main area.
The Nelligan project is composed of 36 cells in an area of about 2016 hectares. It is located south of the important corridor of deformation Opawica-Guercheville on which there is a significant number of gold showings as well as several gold deposits such as those of Meston Lake, Joe Man and Philibert. The basic work is expected to begin in the coming days. They will be supervised by Matt Liard, geologist, as well as by Daniel Kelly, geologist and consultant qualified according to the 43-101 compliant.
Vanstar is also pleased to announce the appointment of Ms. Liette Nadon as Chief Financial Officer, effective immediately.
This press release was read and approved by Daniel Kelly.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>