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Wednesday, September 22, 2010

Mining Stocks; Vanstar Starts Drilling on the Lac Fortune West Gold Project in the Rouyn-Noranda Mining Camp, Quebec

Mining Stocks; Vanstar Starts Drilling on the Lac Fortune West Gold Project in the Rouyn-Noranda Mining Camp, Quebec


LA PRAIRIE, QUEBEC--(http://www.investorideas.com/ gold and mining stocks blog)   - Sept. 22, 2010 - Vanstar Mining Resources Inc. ("Vanstar")(TSX VENTURE:VSR) wishes to announce that it will start an initial diamond drilling program for a maximum of 2,000 m. This program will be launched within the next two weeks and will test the lateral extensions of the known gold zones on the property.


The property is strategically located on the Cadillac fault, 25 km west of Rouyn Noranda. It is easily accessible by national road 117 which passes just south of the property.

Lac Fortune hosts many auriferous structures, notably the South King Zone and the Main Zone. These gold zones are trending east-west and are known by drilling, over a strike length of 700 m and are located south of the Francoeur-Wasa shear zone. The South King zone displays several geological similarities with the Francoeur-Wasa shear zone orebodies, notably mineralization hosted at an andesite - gabbro lithological contact in close spatial association with an hematite - altered felsic intrusive showing some local breccia textures.
Diamond drilling by previous operators yielded high grade intercepts as well as mineralization over broad intervals as demonstrated by the following historical intercepts:
South King Zone
  • 855.58 g/t Au over 0.35 m from 29.83 to 30.18 m
  • 60.43 g/t Au over 0.27 m from 69.18 to 69.45 m
  • 1.83 g/t Au over 10.94 m from 72.50 to 83.44 m (including 11.42 g/t Au over 1.50 m)
  • 1.21 g/t Au over 11.37 m from 52.73 to 64.10 m
  • 10.30 g/t Au over 2.75 m from 57.10 to 59.85 m
  • 1.13 g/t Au over 12.40 m from 44.40 to 56.80 m
Main Zone
  • 9.91 g/t Au on 2,30 m
  • 7.30 g/t Au on 6,50 m
  • 6.75 g/t Au on 1,45 m
Important exploration and development work is being executed in the immediate proximity of the property. Vantex Resources is advancing the Pitchvein Galloway zone to the west of the property where it is aiming to develop an Osisko type orebody. Recent drilling intersected values of 0,78 g/t Au over 160.5 m, including 1,01 g/t Au over 55,5m, 0.67 g/t Au over 73,65 m, 1,042 g/t Au over 36 m.
Situated directly to the northeast of Lac Fortune, the Francoeur gold mine owned by Richmont Mines ("Richmont") is part of a group of 11 similar deposits located within the Francoeur-Wasa shear zone, a very important east-north-east trending regional gold bearing structure which transects the northeast corner of the property. The principal deposits located in the Francoeur-Wasa shear zone have produced over 500,000 ounces of gold from approximately 2.6 million tonnes of ore with a recovered grade of 6.07 g/t of gold (Richmont Mines Inc. press release dated August 7th 2009). In the light of the recent strength in the gold price near $1,000 per ounce, Richmont has announced its intention to restart production at the underground Francoeur gold mine in 2011.
This campaign will be under the supervision of MM. Daniel Kelly and Gilles Laverdière, Qualified Persons as defined in NI 43-101. Mr. Gilles Laverdière read and approved this press release.
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.


For more information, please contact
Gilles Laverdiere
President
514-830-8236
vanstar@videotron.ca


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