Vanstar Mining (VSR.V) has released additional drill results from the Bousquet-Odyno gold project in Québec. As to be expected from a relatively early stage exploration program where Vanstar is just getting to understand the mineralization and the structures at the project. Hole 22-66 with just 1.5 meters containing 1.05 g/t is nothing to write home about but there are a bunch of other holes that are very decent. Hole 22-78 for instance yielded 9.5 meters of 1.37 g/t gold very close to surface while hole 22-80 and 22-81 also encountered similar grades over relatively wide intervals with respectively 10.5 meters containing 2 g/t gold and 27 meters containing 1.36 g/t gold (which is one of the widest intercepts at B-O to date). All these reported intervals have an estimated 65-95% true width.
These assay results have now confirmed the presence of five mineralized zones on the Bousquet-Odyno project as the fifth zone, located to the southwest of the main zone, has now been called zone D. This new zone was defined by holes 78, 79 and 80 in the vicinity of hole 80-3, a historical hole which intersected 6 meters of 3.38 g/t gold. While the technical team is still connecting the dots, it looks like this new Zone D may be a faulted continuation of the Main Zone that could still be expanded, or it could be a cross-structure which would open up that area for new drill targets.
CEO St-Amour is pleased with these results as the company is finding more wide intercepts of mineralized stringer zones that complement high-grade intervals on the property. An additional bonus is that all five zones remain open at depth which could indicate they all join up at depth but that is of course just a theory that needs to be drill-tested.
An additional 14 holes are still in the lab and assay results should be released in the next few weeks. Those remaining 14 holes represent almost 4,000 meters of drilling and will likely provide more valuable information about the mineralized structures at Bousquet-Odyno.
Fortunately the company’s treasury is in good shape. As of the end of June, Vanstar had a positive working capital position of approximately C$3.7M with just over C$4M in cash.
Disclosure: The author has a long position in Vanstar Mining. Vanstar is a sponsor of the website. Please read our disclaimer.
