MONTREAL, April 07, 2021 (GLOBE NEWSWIRE) -- Vanstar Mining Resources Inc. (“Vanstar”, or the “Company”) (TSX.V - VSR) is pleased to announce that is has completed a high resolution airborne magnetic survey at its Eva and Frida projects located in the James Bay Region of Quebec. The survey at Eva highlights a prominent iron formation that is folded in the north. As a result, the Company has acquired additional prospective claims (see Figure 1 below). At Frida, a number of magnetic anomalies are present along trend between Quebec Precious Metals’ JR Zone and Genius Metals Inc.’s gold Trans-Taïga showing (see Figure 2).
The Company plans to follow up on these results with a field reconnaissance program in this summer. The program will include geological mapping, prospecting, and sampling.
“The magnetic signature of the iron formation on the Eva property is very strong. Folded iron formations in this type of geological setting are often a good host for gold mineralization and we proactively acquired additional claims contiguous the Eva project, enhancing our land position in this area. We are keen to do some follow up exploration once we have completed our interpretation of the geological data to date,” commented JC St-Amour, President and CEO of Vanstar.
Figure 1 Eva High Resolution Airborne Magnetic Survey with Additional Claims Highlighted
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Figure 2 Frida High Resolution Airborne Magnetic Survey
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About the Frida and Eva Properties
The Frida and Eva Properties are located in the James Bay area, Northern Quebec. Radisson is the closest town located 45 km north of the project, which is accessible year-round via the La Grande Rivière airport and the Route de la Baie James. The Matagami-Radisson road runs 30 kilometres west of the Property and summer access is via a jetty at the northern end of Sakami Lake at Km 56 on the Trans-Taïga gravel road located 30 km north of the northern property limit. The properties consist of 107 mining claims with a total surface area of 5,517 hectares and are 100% owned by Vanstar and no NSR royalty (“Net Smelter Return”) is attached to the claims.
Mr. Gilles Laverdière, consultant geologist and qualified person under NI 43-101 has read and approved this press release.
About Vanstar
Vanstar Mining Resources Inc. is a gold exploration company with properties located in Northern Québec at different stages of development. The Company owns a 25% interest in the Nelligan project (3.2 million inferred ounces Au, NI 43-101 October 2019) and 1% NSR. The Nelligan Project won the “Discovery of the Year” award at the 2019 Quebec Mineral Exploration Association Xplor Gala. Vanstar also owns 100% of the Felix property under development in the Chicobi Group (Abitibi mining camp, 65km East of Amex Perron property) and 100% of Amanda, a 7,679 ha property located on the Auclair formation with historic gold showings up to 12.1 g/t Au over 3 meters.
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SOURCE :
JC St-Amour
President and CEO
+1 (647) 296-9871
jc@vanstarmining.com
www.vanstarmining.com