VMNGF - Vanstar Mining Announces Additional Drill Results and Identifies New Zone at Bousquet-Odyno

August, 31 2022 07:00 AM Vanstar Mining Resources

Montreal, Quebec--(Newsfile Corp. - August 31, 2022) - Vanstar Mining Resources Inc. (TSXV: VSR) (OTCQX: VMNGF) (FSE: 1V8) ("Vanstar", or the "Company") is pleased to announce additional results from its drill program at Bousquet-Odyno project. The results received to date have identified at least 5 mineralized zones, including a newly defined zone to the south-west of the Main zone (the "Zone D"). Today's results include data from 17 drill holes, with assay results pending from a further 14 holes.

Highlights include:

Zone A
BO-22-81: 27.0 m @ 1.36 g/t Au, including 13.5 m @ 2.05 g/t Au, and including 6.0 m @ 3.18 g/t Au

Main Zone
BO-22-88: 7.5 m @ 1.99 g/t Au

Zone D
BO-22-80: 10.5 m @ 2.00 g/t Au, including 6.0 m @ 2.97 g/t Au
BO-22-78: 9.5 m @ 1.37 g/t Au, including 3.5 m @ 2.52 g/t Au

Drilling in 2022 has identified wide intercepts of mineralized quartz stringer zones in most zones. In the main zone, drilling has both identified broad high-grade gold at depth (see previous new releases on May 30, 2022 and June 20, 2022) and has defined continuity of multiple stringer zones. Zone A includes one of the widest intercepts on the project with 27 m grading 1.36 g/t Au in hole BO-22-81. The newly defined Zone D is of particular interest where holes BO-22-78 and 80 have intercepted 9.5 m grading 1.37 g/t Au and 10.5 m grading 2.00 g/t Au, respectively, in proximity of historical hole 80-3, which intercepted 6.0 m grading 3.38 g/t Au. This zone may be a faulted continuation of the Main Zone with potential to expand or it can also be a cross-structure which opens new targets. See Figure 1 for a plan map indicating the location of released hole and Table 1 for a list of results to date from the current drill program.

J.C. St-Amour, President and CEO, said "We are pleased with the results of the drill program to date. We are finding more wide intercepts of mineralized stringer zones that complement previously reported high grade intervals on the property. In addition to highlighting high-grade potential at depth, all zones remain open along strike with the possibility that they may join. Zone D is a newly defined area with multiple wide intercepts of mineralization with significant growth potential. In addition, drilling completed to date has been relatively shallow in comparison to other mines in the region."

The drill program is now complete and a number of samples are currently in the lab pending analysis. Results announced to date represent approximately 5,300 m of a total of 9,136 m drilled in this program. The Company will announce further results as they become available.

The Bousquet-Odyno project is located approximately 6 km from IAMGOLD Corporation's ("IAMGOLD") Westwood mine and processing facilities. The following video demonstrates the proximity of the Bousquet Odyno project to regional infrastructure and the Westwood mill.

Figure 1: Plan map of the Bousquet-Odyno Project indicating drill hole location.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8185/135401_644fd64bd4577a42_002full.jpg

Table 1: Results from the 2022 Bousquet-Odyno Drill Program including previously released holes

HOLE #
FROM (m)
TO (m)
LENGTH (m)
AU (g/t)
Metal Factor (g/t)
Zone

BO-22-63
212.9
213.4
0.50
2.08
1
Main
Previously reported
and
215.5
217.0
1.50
1.99
3

Previously reported
and
226.0
226.6
0.60
0.58



and
229.0
230.5
1.50
1.70
3

Previously reported
and
301.0
322.0
21.00
5.23
110

Previously reported
incl.
308.5
319.0
10.50
10.14
107

Previously reported
BO-22-64
104.0
112.0
8.00
1.78
14
Main
Previously reported
incl.
106.0
109.5
3.50
3.53
12

Previously reported
and
140.5
142.0
1.50
0.62
1


and
145.0
146.5
1.50
8.40
13


and
161.5
165.0
3.50
1.14
4


and
182.0
183.0
1.00
0.54
1


and
211.0
212.5
1.50
0.77
1


BO-22-65
196.8
199.2
2.40
1.77
4
Main
Previously reported
and
224.5
225.3
0.80
0.82
1


and
229.9
230.4
0.50
0.82
0


and
239.0
242.5
3.50
1.26
4


BO-22-66
245.5
247.0
1.50
1.05
2
Main

BO-22-67
209.5
226.0
16.50
1.16
19
Main
Previously reported
incl.
209.5
215.5
6.00
1.42
9

Previously reported
incl.
220.9
226.0
5.10
1.76
9

Previously reported
and
234.0
237.8
3.80
1.75
7


and
247.0
248.5
1.50
0.69
1


BO-22-74
52.0
53.5
1.50
0.85
1
A


91.0
92.0
1.00
0.85
1



113.5
115.0
1.50
0.66
1


and
169.0
170.5
1.50
0.58
1


and
317.5
322.0
4.50
1.70
8

Previously reported
BO-22-75
16.0
19.0
3.00
0.86
3
B
Previously reported
incl.
17.5
19.0
1.50
1.01
2


and
50.5
52.0
1.50
1.16
2


and
64.3
74.7
10.40
0.77
8


and
81.0
89.5
8.50
0.84
7

Previously reported
and
135.0
136.15
1.15
1.68
2


and
143.5
145.0
1.50
0.52
1


BO-22-76
59.5
68.5
9.00
3.96
36
A
Previously reported
and
70.0
73.0
3.00
0.94
3


and
86.5
92.5
6.00
0.81
5


and
116.5
118.0
1.50
0.51
1


and
121.0
122.5
1.50
0.86
1


and
125.5
127.0
1.50
0.55
1


and
131.5
133.0
1.50
0.91
1


and
139.0
140.5
1.50
0.56
1


and
323.5
325.0
1.50
0.59
1


BO-22-77
92.0
93.6
1.60
1.74
3
A

and
98.1
99.6
1.50
1.47
2


and
271.0
272.5
1.50
0.89
1


BO-22-78
23.5
33.0
9.50
1.37
13
D

Including
29.5
33.0
3.50
2.52
9


BO-22-79
91.0
92.5
1.50
0.88
1
D

BO-22-80
121.0
131.5
10.50
2.00
21
D

Including
121.0
127.0
6.00
2.97
18


BO-22-81
61.0
64.0
3.00
1.42
4
A


73.0
100.0
27.00
1.36
37


Including
73.0
86.5
13.50
2.05
28


Including
80.5
86.5
6.00
3.18
19


BO-22-88
250.0
257.5
7.50
1.99
15
Main

BO-22-91
270.5
275.5
5.00
0.88
4
Main

BO-22-92
278.0
284.0
6.00
0.87
5
Main


318.0
319.0
1.00
0.52
1



322.0
323.5
1.50
1.06
2


BO-22-93
103.0
106.0
3.00
0.69
2
Main


110.5
116.5
6.00
0.92
6



121.0
123.0
2.00
1.97
4


BO-22-94
210.7
214.2
3.50
1.66
6
Main

*True widths are estimated at 65 to 95% of the core interval.
*Holes BO-22-68 to 73, and 82-89 are pending

Table 2: Drill Hole information 2022 Bousquet-Odyno Drill Program

HOLE-ID
EASTING
NORTHING
ELEVATION
AZIMUTH
DIP
EOH
BO-22-63
678417
5344358
357
350
-70
340
BO-22-64
678547
5344521
356
350
-70
377
BO-22-65
678586
5344500
352
343
-63
274
BO-22-67
678636
5344499
350
345
-55
298
BO-22-74
678051
5344412
339
180
-45
358
BO-22-75
678109
5344451
339
142
-45
325
BO-22-76
678119
5344282
339
142
-45
325
BO-22-77
677970
5344200
337
157
-45
316
BO-22-78
677372
5344032
339
343
-54
250
BO-22-79
677309
5344070
326
343
-54
139
BO-22-80
677315
5343999
325
343
-54
226
BO-22-81
678091
5344259
341
167
-50
199
BO-22-88
678559
5344451
347
350
-65
352
BO-22-91
678647
5344450
350
350
-55
400
BO-22-92
678751
5344611
350
345
-66
349
BO-22-93
678117
5344285
342
142
-70
208
BO-22-94
678068
5344413
350
142
-69
325

Qualified Person

Mr. Gilles Laverdière, P.Geo, consultant geologist and qualified person under NI 43-101 has read and approved this press release.

About Bousquet-Odyno

Bousquet-Odyno is comprised of 37 contiguous mining claims covering approximately 1,492 ha and is located directly south of highway 117 between the towns of Rouyn-Noranda and Malartic in the Province of Quebec. The 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. 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.

About Vanstar

Vanstar Mining Resources Inc. is a gold exploration company with properties located in Northern Québec at different stages of development. The Company owns a 25% interest in the Nelligan project (3.2 million inferred ounces Au, NI 43-101 October 2019) and a 1% NSR. The Nelligan Project won the "Discovery of the Year" award at the 2019 Quebec Mineral Exploration Association Xplor Gala. Vanstar is also earning 75% into the Bousquet-Odyno project located along the Cadillac Break and owns 100% of the Felix property in the Chicobi Group (Abitibi mining camp, 65 km East of Amex Perron property), the Amanda property, a 7,306 ha property located on the Auclair formation with historic gold showings up to 12.1 g/t Au over 3 meters, and the Frida and Eva properties located in the James Bay area.

Source:

JC St-Amour.
President and CEO
+1 (647) 296-9871
jc@vanstarmining.com
www.vanstarmining.com

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.

FORWARD-LOOKING STATEMENTS:

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135401

Company Name:	Vanstar Mining Resources
Stock Symbol:	VMNGF
Market:	OTC
Website:	vanstarmining.com

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