Vanstar Mining Resources Inc (TSX-V:VSR, OTCQX:VMNGF) said it has commenced a 4,000-metre (m) drill program at its Bousquet-Odyno project in the Province of Quebec.
The Montreal, Quebec-based gold exploration company said it has contracted Diafor Inc, which has mobilized a diamond drill rig to site and is currently drilling the first target. The drill program is designed to test additional areas near surface as well as test areas down plunge from known high-grade zones, it added.
The Bousquet-Odyno property lies within the Abitibi greenstone gold belt, along the Cadillac break, a prolific gold-bearing regional structure that has produced 100 million ounces of gold since 1900. Historical drilling on the property prior to IAMGOLD has identified several gold zones, including the Calder-Bousquet Zones No. 2, No. 4 and No. 5. Historical drilling has been relatively shallow, down to approximately 250m.
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"The location of this project along the Cadillac-Break, in the shadow of some prolific producers, is exceptional from an infrastructure, accessibility and prospectivity perspective,” Vanstar president and CEO JC St Amour said in a statement. “Previous drilling on the project has intercepted high grades near the surface and we believe the Bousquet-Odyno has been underexplored and offers great exploration potential.”
Selected results from IAMGOLD's 2010 to 2016 drilling programs include:
- 27.9 grams per tonne (g/t) gold over 6.5m (from 140 to 146.5m depth in hole BO-16-56)
- 29.3 g/t gold over 3.3m (from 389 to 392.3m depth in hole BO-12-32)
- 9.6 g/t gold over 16.5m (from 164 to 180.5m depth in hole BO-11-06)
- 5.8 g/t gold over 4.4m (from 135.3 139.7m depth in hole BO-13-40)
“We have based this drill program on our interpretation of previous work and are targeting areas which we believe will deliver results and increase our understanding of the mineralized body,” St Amour added.
Bousquet-Odyno is comprised of 37 contiguous mining claims covering approximately 1,492 hectares and is located directly south of highway 117 between the towns of Rouyn-Noranda and Malartic in the Province of Quebec. Vanstar can earn a 75% interest in the project from IAMGOLD by spending $4 million over four years. IAMGOLD will have the right to back-in to 50% of the project.
Contact the author at stephen.gunnion@proactiveinvestors.com