InvestmentPitch Media Video Discusses Vanstar Mining Resources’ Drill Results from the Nelligan Property in Northern Quebec with Multiple Holes Reporting Higher-Than-Average Gold Grade and Width

Rhea-AI Summary

Vanstar Mining Resources (OTCQX: VMNGF) announced promising assay results from its 2022 winter diamond drill program at the Nelligan joint venture project in Northern Quebec. The project, in which Vanstar holds a 25% interest, has Inferred Mineral Resources of 3.2 million ounces of gold at a grade of 1.02 g/t. Highlights include multiple drill holes reporting significant gold mineralization, with best results from Hole NE-22-194 showing 7.9 m of 6.71 g/t gold. Shares are currently trading at $0.37.

Positive

• Multiple drill holes reported wide intercepts of gold mineralization at higher-than-average grades.
• Best results include Hole NE-22-194 with several significant grades, including 7.9 m of 6.71 g/t gold.
• Nelligan project hosts Inferred Mineral Resources of 3.2 million ounces of gold grading 1.02 g/t.

Negative

• None.

News Market Reaction – VMNGF

-5.17%

1 alert

-5.17% News Effect

On the day this news was published, VMNGF declined 5.17%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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%.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company along with video comments from J.C. St-Amour, Vanstar’s President and CEO. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Vanstar” in the search box.

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 www.VanstarMining.com, contact JC St-Amour, President and CEO, at 647-296-9871 or email jc@VanstarMining.com.

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Vanstar Mining Resources has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What were the assay results reported by Vanstar Mining Resources for VMNGF on July 7, 2022?

Vanstar Mining Resources reported assay results showing multiple drill holes at the Nelligan project with significant gold mineralization, including Hole NE-22-194 with 7.9 m of 6.71 g/t gold.

What is the mineral resource estimate for the Nelligan project owned by Vanstar Mining Resources?

The Nelligan project contains Inferred Mineral Resources of 3.2 million ounces of gold grading 1.02 g/t.

What is the current trading price of Vanstar Mining Resources shares (VMNGF)?

The shares of Vanstar Mining Resources are currently trading at $0.37.