Vanstar Mining Resources Inc.
TSX VENTURE : VSR

Vanstar Mining Resources Inc.

February 13, 2014 09:00 ET

Vanstar Updates on Ongoing Work

LA PRAIRIE, QUEBEC--(Marketwired - Feb. 13, 2014) - The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) is pleased to announce the completion of its initial phase of drilling on the Liam showing comprising 5 drill holes for a total of 714 metres. The main horizons namely the sericite schist or iron formations were found where they were expected, followed by the gold zones; the zones are observed on widths of 25 to 30 metres.

The first 3 drill holes (LI14-10, LI14-11 and LI14-12) which are spaced 50 metres apart and located on the west extension of drill hole NE13-08, all intersected the gold structure (silicified-pyritized) on widths of 15 to 20 metres. The presence of molybdenum is also observed within this mineralized zone.

The 2 remaining drill holes will be examined shortly. They are located 50 metres west of drill hole LI14-12 and 50 metres behind drill hole NE13-08.

Drill samples are sent to Laboratoire Expert Inc., of Rouyn-Noranda for assays and drill results will be announced as soon as possible.

«We are very satisfied with the present campaign. We are meeting our objectives. The gold zone seems to be present and consistent. The next drilling campaign will test the east extension of the Liam zone as well as the Mila zone, which is located east of the fault separating it from the Liam zone. This zone is also linked to a low mag anomaly present on more than 700 metres. If we can show a relation between the two, this could double the gold potential of this area» mentioned Mr. Guy Morissette, CEO of the Company.

In the coming weeks, the Company plans to drill for an additional 2,000 metres on the Liam zone with some drill holes on the Mila zone.

The Liam gold showing was discovered in November 2013 with drill hole NE13-04 (See November 26, 2013 press release). This hole was testing a low magnetic anomaly recognized on a length of more than 900 metres. This important gold structure was intersected at shallow depths and could result in an open pit exploitation.

The Liam gold zone lies within an intensive deformation corridor which is interpreted to coincide with a NE-SW low mag anomaly. Hosted in a meta-sedimentary environment, the core of the zone is strongly silicified with 1-2% finely disseminated pyrite. A sericite-fuschite schist unit along with a sheared and mineralized Iron Formation are observed along the south contact. A horizon of amphibolite hosting 5-10% silicified and mineralized veinlets, with traces of molybdenum, is observed along the north contact. Following a second inspection of the drill cores, visible gold was observed in two of the four drill holes so far completed on this showing.

Vanstar also completed a magnetic geophysics survey covering the lakes portion as well as the west part of the property. This 150-kilometre survey will allow a better understanding of the different magnetic anomalies.

Nelligan Project

The 100% owned Nelligan property consists of 98 cells totaling 5,488 hectares. It is located approximately 45 kilometers south of the village of Chapais and is accessible year round by several forestry roads. A power line crosses the area some 4 kilometers to the east of the project. No constraints such as protected parks or ecological reserve limit mining exploration on the property.

The Nelligan property is located 15 km SSE of Tomagold's Monster Lake project where Iamgold Corp. recently agreed to exploration work commitments of $16,000,000 over a period of 5 years.

In the same area, you can also find the Philibert (Soquem), Meston Lake and Joe Mann deposits. The Chevriers deposits and the Murgor showings are located north-east of the Nelligan project.

Samples were recorded, packaged and sent to the certified Lab Expert Inc. facility in Rouyn-Noranda. They were assayed for gold by FAA on a 30 gram pulp. Sample exceeding 1 g/t Au were re-assayed by FA with a gravity finish. Company's QA/QC procedures include random insertions of certified standard material and blanks as well as the use of duplicates. NQ size core was described, sampled and split in two at the company's logging facility in Rouyn-Noranda.

The work was performed under the supervision of Daniel Kelly, consulting geologist and Qualified Person under NI 43-101. Samples were prepared at the company's logging facility and assays done by Laboratoire Expert in Rouyn-Noranda.

This press release was read and approved by Daniel Kelly.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information