Vanstar retains a 25% interest and 1% NSR in the original claims.
Under the terms of the amended agreement of
It is reassuring to see that our partner completes all the requirements more than 2 years before the deadline set in the agreement. This confirms well the great potential of the Nelligan project. Nearly 3.2 million ounces of gold inferred have already been delineated with just under 56,000 meters of drilling. If we compare this yield per meter drilled with other current projects, we find that Nelligan offers an unusual homogeneity which can allow to quickly increase additional resources. Everything remains open both laterally and at depth, in a gold corridor of potentially more than 4 kilometers. mentioned Mr.
In another press release, Mr.
The Nelligan project is located in the Chapais-Chibougameau region and consists of 158 claims within an area of 8,216 hectares. It is accessible all year long by different forest roads. The project hosts mineral resources consisting of inferred resources limited by a pit, totaling 96,990,000 MT at an average grade of 1.02 grams of gold per ton for 3,193,000 ounces of gold.
Next Step
In the coming months, additional metallurgical testing will be conducted to provide additional information on metallurgical recoveries of different mineralization zones, including the Nelligan mineral resources, and to help optimizing the process scheme parameters.
Planning for future drilling programs is underway and will include a number of objectives, including: additional infill drilling to improve resources classification and convert inferred resources into an indicated resources category; evaluate the potential resources extensions in the deepest parts of the deposit and evaluate the expansion of resources along the strike.
Regional exploration will also continue to define and test other priority exploration targets on the property.
The company is also granting to their board members and directors a total of two million stock options that can be exercised on or before
Contact:
Tel: 514-947-2272
Email: splouffe@vanstarmining.com
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