Vanstar Resources Acquires Cristalina Gold Project, Brazil
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Vanstar Resources Inc. has signed a letter of intent with Merrygold Investments Ltd to acquire 100 percent of the Cristalina project in the province of Goias, Brazil.
The Cristalina project contains several gold showings including the Aguas Claras, Metago and Susy showings within an area of 24,000 hectares. The main gold showing, Aguas Clara, contains an anomalous gold zone defined by a soil and rock geochemical survey over a length of over three kilometers by a width of over 500 meters.
Several samples of rocks collected on this showing revealed gold grades in excess of 18 g/t Au. This showing lies in a low-grade saprolite gold environment containing high grade gold-bearing quartz pods. The primary objective of this project is to establish a quartz/saprolite ratio to define higher grade tonnage. A series of trenches reaching 500 meters in length through the surface gold zone will be necessary to establish this ratio. The company will also conduct separate screening tests.
Cristalina is located along one of the main highways leading to the Brazilian capital, Brasilia, in a province favorable to mining development. Easily accessible, the project will enable a very quick assessment of its gold potential.
The Cristalina project presents numerous geological similarities with the Paracatu Mine, belonging to Kinross Inc. which has been operating since 1987. This gold deposit, containing nearly 690 million tons (over 1 billion tons reserves and resources all categories) of low grade ore proven and probable reserves according to Kinross’ 2015 annual report, is the largest open pit gold deposit in Brazil and has produced more than 475,000 ounces of gold in 2015 with an average grade of approximately 0.42 g/t Au. The Cristalina project is located in the same geological corridor as the Paracatu Mine. According to Kinross’ data, the project is also very profitable.
About Vanstar
Vanstar Mining Resources Inc. is a publicly traded company engaged in the acquisition, exploration, production, development and operation of mining properties. The company operates in Quebec, one of Canada’s richest mining provinces.
To stop by Vanstar’s website, CLICK HERE
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