The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) is pleased to announce that each of the 3 drill holes recently completed on the Liam gold showing, returned significant gold grades on intervals ranging from 20 to 35 metres along the hole. These new results confirm the importance of this new discovery and shows that gold distribution remains constant throughout the intersected gold zone.
"We completed 4 drill holes on this new showing and they all confirm the continuity of this zone in every direction. The main horizons (south contact), namely the iron and the sericite formations, are present in every drill hole and all at the right places. We believe that we have found a new and very important gold structure within an underexplored area. Now everything is possible! We have to continue drilling and follow the low mag anomaly." stated Mr. Guy Morissette, CEO of the company.
These drill holes were done to assess the extensions along strike and at depth of the Liam gold showing discovered in November 2013. Associated to a low magnetic anomaly measuring 900 metres, this showing remains open at depth and along strike.
On the base of these very promising results, management of the company plans to start in January 2014, a new drilling program on the Liam zone as well as some holes on the Mila zone which is located east of the Liam zone. This new zone is associated with a magnetic anomaly measuring over 700 metres. Drill hole NE13-01 intersected a gold zone on the east extremity of this zone. (See November 26 press release).
The Liam showing
The Liam gold showing was discovered in November 2013 with drill hole NE13-04 (See November 26, 2013 press release). This hole was testing a low magnetic anomaly recognized on a length of more than 900 metres. This important gold structure was intersected at shallow depths and could result in an open pit exploitation.
The Liam gold zone lies within an intensive deformation corridor which is interpreted to coincide with a NE-SW 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.
So far, the drilling data shows a major gold showing with significant length, width and depth. The zone remains open along strike and at depth.
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.
The Nelligan property is located 15 km SSE of Tomagold's Monster Lake project where Iamgold Corp. recently agreed to exploration work commitments of $16,000,000 over a period of 5 years.
