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Vanstar plans 4 000-m drill programme at Iamgold option property

17th March 2022

By: Creamer Media Reporter

     

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Gold exploration company Vanstar Mining Resources has unveiled plans for a 4 000-m drill programme at the Bousquet-Odyno gold project, in which it has an option to earn up to 75% from Iamgold.

The drilling programme, which will begin next month, is designed to test areas down-plunge from known high-grade zones, as well as test additional areas on the surface, the junior says.

Located along the Cadillac Break, the Bousquet-Odyno project comprises 37 contiguous mining claims covering 1 492 ha between the towns of Rouyn-Noranda and Malartic in Quebec.

Vanstar and Iamgold entered into a letter of intent in November and have now made their option agreement definitive. Under the terms, Vanstar has the option to complete as operator at least C$4-million in exploration expenditures over four years and will have the right to earn up to a 75% interest in the property.

Iamgold will have the right to earn back a 50% interest by spending four times the exploration expenditures made on the property since the completion of the second earn-in period within a time of three to five years.

Edited by Creamer Media Reporter

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