Vanstar Mining Resources Inc (TSX-V:VSR, OTCQX:VMNGF, FRA:1V8) said a summer exploration program is ongoing at its Nelligan property in northern Quebec. Currently, the company is focused on an infill drilling program that has collected data from five holes (1,600 meters) to date.
An additional five to 10 holes are anticipated for this zone.
Once infill drilling in the target area is completed, Vanstar will shift its attention to the western extension, with the intention of expanding the resource.
READ: Vanstar Mining Resources reveals drilling plans for the Nelligan project in Quebec
The Canadian precious metals explorer also offered an update on work at several other projects.
At the Felix property, which is also located in Quebec, an analysis of a recent Induced Polarity (IP) survey has been concluded.
According to the statement, the IP survey focused on a western portion of the property underlain by a folded banded iron formation. A number of chargeability anomalies that are consistent with previously reported MEGATEM conductors were identified.
The company plans to conduct a drill program on the identified targets in September.
Vanstar Mining is also moving ahead with exploration work at both the Frida and Eva projects, near St, James Bay in Quebec. Presently a ground crew is mobilizing to conduct a prospecting and sampling program at both projects.
In a corporate update, Vanstar noted six members had been reappointed to the company board, including:
- Victor Cantore;
- Albert Contardi;
- Wanda Cutler;
- Claude Dufresne;
- Jonathan Gagne; and
- Luc Gervais.
“From a corporate governance perspective, I would like to point out that the entire board is comprised of independent directors. I am pleased to welcome them and I look forward to working together in the year ahead,” JC St Amour, President and CEO of Vanstar said in the statement.
He added: “In addition, the company announces that the board of directors has granted 2,625,000 options to officers, directors, and consultants to the company pursuant to its stock option plan. The options are exercisable for a period of five years at a price of $0.50 and vest immediately.”
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