Vanstar Mining: Nelligan Project Among the Finalists for the "Discovery of the Year" Award at the XPLOR 2019 Convention
TSX VENTURE: VSR
LA PRAIRIE, Quebec, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Vanstar Mining Resources Inc. («Vanstar») is very pleased to announce that the Nelligan project, an Earn-In Agreement between IAMGOLD Corporation (“IAMGOLD”) : 51% and Vanstar : 49%, is among the three finalists for the AEMQ "Discovery of the year" award. The name of the award winner will be announced on Wednesday, October 23, during the Awards Gala that will take place in the Queen Elizabeth Hotel, in Montreal.
Furthermore, on October 23, during the XPLOR 2019 convention, a conference called "Nelligan Project : a wide gold-bearing system hosted in a detritical sedimentary sequence – An important discovery for the Chapais-Chibougamau mining district" will be given by IAMGOLD. In addition, IAMGOLD will hold a booth presenting technical information related to the Nelligan project and some samples of rock from the different gold zones identified by the exploration work.
Our partner will also have a space at the Core Shack section to expose different sections of drill holes to show the entire stratigraphy and alterations typical of the Renard zone.
Mr. Guy Morissette, President, states: " We are honored that the Nelligan Project is among the finalists for the Discovery of the Year Award. This is a project that we believe deserves to be recognized as a major Canadian gold project.”
The Nelligan project, located in the Chapais-Chibougameau region, comprises 158 cells with an area of 8,216 hectares. The main known indexes on this project are Renard, Liam, Dan and 36 occupy an area of just 4% (6 mining cells) of the entire property. The Liam and Dan gold zones, discovered by Vanstar during the 2013 and 2014 drilling campaigns, were followed by the discovery of the Renard by our partner IAMGOLD in 2016.
IAMGOLD is expected to provide an initial resource estimate for the NI 43-101 compliant Renard Zone in the second half of 2019.
AMENDMENT TO THE STOCK OPTION PLAN
The management of Vanstar Mining Resources Inc. also wishes to report that pursuant to the disinterested shareholders' approval at the annual shareholders meeting, the TSX Venture Exchange approved the amended Stock Option Plan, which resulted in the increase of the maximum number of issuable options from 7,600,000 to 9,552,665.
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Guy Morissette, CEO