Jan 29 2011
Vanstar Mining Resources Inc. (TSX VENTURE:VSR) announces the purchase of 100 % of the Destor property. The property comprises 11 mining claims covering an area of 358 hectares and is located near Rouyn-Noranda, in Abitibi.
The claims are located on the Destor-Porcupine fault, a favorable geological environment where many gold deposits were found, namely the previous Beattie mine (Clifton Star-Osisko), the Fayolle deposit and the Duquesne mine.
Vanstar acquires 100 % of the property in exchange for a $1,000 cash payment and the issuing of 25,000 common shares of Vanstar, to the seller, an arm's length individual. The seller will retain a 2 % NSR.
Source: Vanstar Mining Resources Inc.