Vanstar Provides an Update of Its Activities
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Montreal, July 29th, 2020. The management of Vanstar Mining Resources (TSX.V - VSR) would like to provide an update on the work currently underway on the various mining projects of the company.
Thus, regarding the Nelligan project, the company is still awaiting the results of the last drilling carried out last winter. The delays - deemed highly unreasonable by the company - are largely attributed to the slowness and limited availability of the analysis laboratories, which have found themselves under heavy demand by a very large number of mining exploration companies following the reopening of the exploration work last May.
Obviously, like many shareholders, we are really frustrated by the delays of the results to be received from the last winter drilling campaign. We understand that there may be different reasons for such an unreasonable delay, but at the present time, it seems less and less justifiable and our shareholders are letting us know ... " said Mr. Guy Morissette, CEO of the company.
Also, management announces that drilling has recently resumed on the Nelligan project. The summer program foresees a minimum of 4,000 meters which can be increased to 5,000 meters. The results from this summer campaign are expected to be available next fall.
Regarding the Félix project, various drilling targets have been established based on the aerial magnetic survey carried out last June. Several faults, fold zones and iron formation were located on the property. Contrary to what had been mentioned, the planned 2,500-meter drilling program may not be able to be carried out during the next fall given that access to the land is very difficult and many of the targets are located in wet terrain. Our Technominex consultant strongly suggests that we wait until the winter period.
The Amanda project has been the subject of an extensive geological and prospecting campaign since the beginning of July 2020. A team of geologists and technicians has covered the entire project in order to verify the zones of geological and stratigraphic interest as well. than historical data. A magnetic aerial survey of approximately 3.069 km is also planned in the coming weeks. The results of this work, once compiled and interpreted, could be the subject of a drilling program during the fall of 2020.
The management of the company also intends to hold its annual general meeting as soon as possible. A specific date will be set according to the availability offered by the trustee.
Mr. Gilles Laverdière, consultant geologist and qualified person under NI 43-101 has read and approved this press release.
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the TSX Venture Exchange Policies) do not accept any responsibility for the truth or accuracy of its content.
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Sources:
Sébastien Plouffe
Vice-President - Public Relations
splouffe(at)vanstarmining.com
514-947-2272
Gary Claytens
Vice-President - Western Corporate Development
604-761-3233
info(at)rvanstar.com
www.vanstarmining.com
Leseranfragen:
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Datum: 29.07.2020 - 18:06 Uhr
Sprache: Deutsch
News-ID 617340
Anzahl Zeichen: 3403
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Town:
Wien
Kategorie:
Business News
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