Vanstar Updates on Liam Drilling
LA PRAIRIE, QUEBEC--(Marketwired - Apr 14, 2014) - The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) announces the completion of 8 drill holes on the Nelligan project. 7 holes were on the Liam zone and one on the Mila zone. Three drill holes were done to verify the east extension of the Liam zone. Three other drill holes were located under drill holes NE13-09, LI14-16 and LI14-17 while another one was completed under the section of drill holes NE13-04 and NE13-07. These 4 drill holes were completed in order to verify the extension at depth of this gold zone. The majority of the drill holes succeeded in intersecting the targeted mineralized horizons corresponding to the Liam gold zone. Drill hole LI14-17 was abandoned due to the displacement of the casing.
Another drill hole was located 100 metres west of the Mila zone and intersected many fracturing and faults zones.
Drill holes LI17-A and LI14-18 also retraced new altered and mineralized zones containing molybdenum. In this area of the Liam zone, the presence of molybdenum is usually an indicator for gold. Drill hole LI14-21, the deepest hole performed on the Liam zone, intersected the targeted zone on widths of more than 30 meters, containing even more molybdenum.
« We are optimistic with what we observed in the latest drill holes. Molybdenum seems to be more present at depth which bodes well for the gold continuation of the Liam zone.» stated Mr. Guy Morissette, CEO of the company.
The drilling campaign should continue into the coming weeks. Five additional drill holes are planed for the Liam, Mila and du lac d'Eu zones for a total of 1,000 additional meters. Management will start this new phase as soon as the pending assays are compiled.
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.
Monster Island property.
Management also entered into an option agreement on its Monster Island project located on sheet NTS 32G10, with Golden Share Mining Corp. (« GSH ») in exchange of $45,000 in cash, 450,000 shares of GSH and a work commitment of $350,000 over 3 years. If GSH fulfills all of its commitments, it will then own 100% of the project. Vanstar retains a 2% NSR which 1% is redeemable for $1,000,000.
The work was performed under the supervision of Daniel Kelly, consulting geologist and Qualified Person under 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.
