LA PRAIRIE, QUEBEC–(Marketwired – April 7, 2016) – The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) announces that it will undertake in the coming days an initial drilling program of 1,000 to 1,200 meters on the PRH Gold project recently optioned from Vantex Resources Ltd.
This program will test, among others things, certain geochemical targets identified during the fall exploration program in 2015.
The MMI survey was run largely north of the Moriss zone and north of the GP area. Some of these geochemical anomalies correspond to IP anomalies and EM conductors (Input).
The company has obtained all the permits required to initiate this program.
The PRH Gold project.
Covering an area of about 650 hectares, the PRH Gold project, comprising the Perron block, Renault Bay and Hurd (western part of the Galloway project of Vantex Resources Ltd), contains several gold showings including the Moriss, Hendrick, GP and Hurd gold showings.
The first three showings form the Golden Triangle while the Hurd showing is located approximately 1.5 kilometers northeast of the GP area.
The Moriss gold showing contains three interesting gold zones which are the Moriss Zone, Moriss South and N-1. These remain open both laterally and at depth.
The management of the company suspects the presence of other gold bearing structures in this sector.
The following link shows a drilling section of Moriss: http://media3.marketwire.com/docs/morrishow.pdf.
According to the results, the company will decide on the completion of a second phase of drilling to take place in the summer of 2016. The company also plans, depending on available funds, to extend the MMI geochemical to the west and to the northwest of the Moriss Zone this summer.
This press release has been read and approved by Gilles Laverdière, P.Geo Qualified Person under NI 43-101.
Cautions Regarding Forward-Looking Statements
This news release contains forward-looking statements regarding our intentions and plans. The forward-looking statements that are contained in this news release are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties. As a consequence, actual results may differ materially from results forecasted or suggested in these forward-looking statements and readers should not place undue reliance on forward-looking statements. We caution you that such forward-looking statements involve known and unknown risks and uncertainties, as discussed in the Company’s filings with Canadian securities agencies. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices, success and failure of the exploration and development carried out at various stages of the program, and general business, economic, competitive, political and social conditions. The Company expressly disclaims any obligation to update any forward- looking statements, except as required by applicable securities laws.
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.