Vanstar Mining Resources Inc (CVE:VSR) (OTCMKTS:VMNGF) (FRA:1V8) announced that its joint venture partner, IAMGOLD Corporation (TSE:IMG) (NYSE:IAG) (FRA:IAL), is expected to drill about 9,500 metres on the Nelligan joint venture project in Quebec, which will include both definition drilling in the main resource area as well as step-out drilling with a focus on the west extension of the known mineralization.
Vanstar said the drill program will support the completion of a future updated resource estimate.
“We are excited to see the drilling program underway on Nelligan as exploration continues on the project. Nelligan is a growing asset with inferred resources of 3.2 million ounces of gold as of 2019,” Vanstar Mining Resources CEO JC St-Amour said in a statement.
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“The results of this drill program will be included in an upcoming resource update that we anticipate will both expand and upgrade the existing resources,” St-Amour added.
“In addition, we are pleased to see that exploration is continuing on the broader property to identify additional targets for future drilling.”
The company also noted that mapping of underexplored areas is ongoing and is focused on an area identified from IP and preliminary till survey results where 15 new outcrops have been identified to date.
As well, Vanstar said 22 channel samples have been collected from the three unsampled areas including one located to the north of the resource area.
It added that results are pending and exploration targeting will be completed once all results become available and interpreted.
The Nelligan gold project is 75% owned by IAMGOLD with the remaining 25% interest belonging to Vanstar.
Vanstar Mining Resources is a northern-Quebec-focused gold explorer with projects at various stages of development.
The advanced Nelligan project won the 'Discovery of the Year' award at the 2019 Quebec Mineral Exploration Association XPLOR Gala.
Contact Sean at sean@proactiveinvestors.com