Vanstar Mining Resources (VSR.V) has started a prospecting program on its Amanda project where it intents to get a better understanding of the pegmatite zones on the project. The company is teaming up with Mosaic Minerals (MOC.C) as part of the joint venture agreement that was announced in August. Mosaic may earn an initial 50% interest by spending C$1M on exploration and issuing 4 million shares to Vanstar.
While the project has been drilled before, the intersected pegmatites were never sampled for lithium. So the companies know the pegmatite is there, but the main purpose of the current exploration program is to figure out if they host lithium and if they could have any economic importance.
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