Vanstar Discovers New Gold Showings on the Amanda Project
MONTREAL, Oct. 06, 2020 - The management of Vanstar Mining Resources Inc. (VSR-TSX-V) is very pleased to announce the first results from the sampling campaign on the Amanda project during the summer of 2020. A total of 576 samples were taken from the entire property consisting of 145 claims covering an area of approximately 7,677 hectares. This sampling is the first field reconnaissance work carried out by Vanstar to verify areas of geological interest across the property and to confirm the gold potential identified by historical work. Several new showings were traced by this first geological survey, demonstrating an interesting gold environment for the entire Amanda project.
The Raphy showing returned grades of 1.21 and 1.26 g / t Au (F50337 and F50338) in silicified biotite paragneiss and mineralized with pyrite. Seven other samples returned between 90 ppb and 438 ppb Au.
The Marko showing returned 1.15 g / t Au (F50281) in a gold-bearing pegmatite containing 5% pyrite clusters while the Jako showing revealed a grade of 1.84 g / t Au (F50418) in a biotite paragneiss containing mineralized quartz veinlets near oxidized and silicate iron formations newly identified during the 2020 field campaign.
Samples taken from historical gold showings have confirmed the presence of gold on these showings. A grade of 3.43 g / t Au (F50258) was obtained on the Rock'n Hammer showing and three other samples graded from 1.16 g / t Au to 1.86 g / t Au (F49508, F50301 F50422 ) were identified on the Arianne, Kog-1 and Mire showings respectively. Some quartz veins have returned anomalous gold grades varying between 100 and 692 ppb Au (F50304, F50302, F49504) on the Kog-1 and Rock'n Hammer zones.
Vanstar plans to conduct a very high-resolution aerial magnetic survey in the near future to map the property and uncover structural discontinuities in iron formations that may prove to be the site of gold deposits. The company also plans to carry out stripping and sampling work in the summer of 2021.
Vanstar has mandated the firm Technominex to file a permit application with the competent authorities in order to carry out a first drilling campaign of at least 2,500 m on the project in the first quarter of 2021. The drilling will be used to verify the discovery of historic drilling 728 -06-01 where 9 samples of 1.5 meters each, taken in a section of 70 meters along the hole, had revealed gold grades varying from 0.9 g / t Au to 1.8 g / t Au
This press release has been read and approved by Mr. Gilles Laverdi?re, P. Geo and qualified person under Canadian standard 43-101.
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Interim President and CEO