Vanstar Mining Resources Inc (TSX-V:VSR, OTCQX:VMNGF) said winter drilling was progressing at its Nelligan joint venture project in Quebec ahead of a potential resource update towards the end of 2022.
The company also reported remaining assays from last year's 27-hole, 9,492-metre (m) diamond drill program at the property, which was completed by operator IAMGOLD Corp (TSX:IMG).
The latest drill results come from 14 holes, for 5,232m, which confirmed mineralization up to 1.5 kilometres (km) west of the current resource.
Highlights included 20m of 2.02 grams per tonne (g/t) gold starting from 171m depth and 10.5m of 1.11g/t gold starting from 270m depth in one hole. Another showed an intersection of 30.6m at a grade of 1.15g/t gold from 260.36m depth, the company reported
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Turning to this year's exploration, Vanstar said: "The winter drilling program at Nelligan is progressing with approximately half of the planned 6,000m drilled to date. This drill program is designed to expand the existing resource at depth, with 5 to 6 holes planned below the pit shell with target depths of 500m on average, as well as to test targets along strike both to the east and west of the current resource.
"Results from this program, along with the 2020 and 2021 results, will be incorporated into the drill hole database once they are validated and compiled. IAMGOLD announced on December 16, 2021 that it intends to provide an updated resource for the Nelligan project towards the end of 2022," it added In a statement.
Vanstar owns a 25% stake in the project, while major IAMGOLD owns the remaining 75%.
The Nelligan project boasts a 2019 resource showing 3.2 million ounces of gold in the inferred category. The company is also earning 75% into the Bousquet-Odyno project located along the Cadillac Break and owns the Felix property in the Chicobi Group in the Abitibi mining camp.
It also holds the Amanda property, a 7,306 hectare (Ha) project on the Auclair formation with historic gold showings up to 12.1g/t gold over 3m, and the Frida and Eva properties in the James Bay area.
Contact the writer at giles@proactiveinvestors.com