# Vanstar Files Technical Report for the Nelligan Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/vanstar-files-technical-report-for-the-nelligan-project--377db5e5-98a5-4328-b92a-b41eb3c5bc57 Original source: https://money.tmx.com/en/quote/VSR/news/5042127918867853/vanstar-files-technical-report-for-the-nelligan-project Publisher: tmx Original announcement: 2023-02-23T12:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Vanstar Mining Resources Inc. - Ticker: VSR - Exchange: TSX - Region: Quebec, Canada - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-09-13 07:01:29 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary Vanstar has filed a technical report for the Nelligan Project in Quebec, providing an updated Mineral Resource Estimate as of February 10, 2023. The update, prepared by SRK Consulting, reflects amendments to mining costs and payable metal percentages, resulting in increased tonnage and contained gold for both Indicated and Inferred categories despite slight grade decreases. Reasoning: The update shows tonnage and contained metal growth due to parameter amendments, though average grades for both Indicated and Inferred categories have slightly declined compared to the January 12, 2023 estimate. - Positive factor: Contained metal growth - Positive factor: Tonnage growth - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Negative factor: Grade decline Facts used in scoring: 2 ## Classification and evidence **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The report was prepared by SRK Consulting in accordance with NI 43-101 standards. Evidence · text > prepared by SRK Consulting \(Canada\) Inc. \("SRK"\) in accordance with National Instrument 43-101 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Multiple Qualified Persons \(QPs\) are named and have reviewed/approved the technical information. Evidence · text > Mr. Prakash is an independent "qualified person", as defined by NI 43-101 \(a "QP"\) **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: Indicated tonnage increased from 72.2 Mt to 73.5 Mt and Inferred from 114.1 Mt to 129.5 Mt. Evidence · text > The changes resulted to a 21,000 ounce increase in estimated Indicated Mineral Resources and 362,000 ounce increase to Inferred Mineral Resources. **Grade Decline** Polarity: negative Definition: Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: Indicated grade decreased from 0.85 to 0.84 g/t Au and Inferred from 0.88 to 0.87 g/t Au. Evidence · table > 0.84 Context: 73.5 ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Resource Estimates (2) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vanstar-files-technical-report-for-the-nelligan-project--377db5e5-98a5-4328-b92a-b41eb3c5bc57#fact-resource-facts-0) Nelligan · gold #### Identity - Project: Nelligan - Commodity: gold - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: VSR #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sandeep Prakash, Oy Leuangthong, Maxime Douëllou, Shana Dickenson, Marie-France Bugnon, Gilles Laverdière - Resource group id: resource:990ea1456f9ba1fb8eac - Deposit or zone: Nelligan #### Resource Data - Category: indicated - Tonnes: 73500000 - Grade: 0.84 - Grade Unit: g/t - Contained Metal: 1991 - Contained Unit: koz au - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2023-02-10 #### Lab - Laboratory: ALS #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2023-02-23T00:00:00.000Z Reasoning: Indicated resource tonnage increased from 72.2 Mt to 73.5 Mt and contained metal increased by 21,000 oz, though grade dropped from 0.85 to 0.84 g/t Au. - Positive factor: Tonnage growth - Positive factor: Contained metal growth - Negative factor: Grade decline Evidence · table > 0.84 Context: 73.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vanstar-files-technical-report-for-the-nelligan-project--377db5e5-98a5-4328-b92a-b41eb3c5bc57#fact-resource-facts-1) Nelligan · gold #### Identity - Project: Nelligan - Commodity: gold - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: VSR #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sandeep Prakash, Oy Leuangthong, Maxime Douëllou, Shana Dickenson, Marie-France Bugnon, Gilles Laverdière - Resource group id: resource:2e3974e9b1acae4eda65 - Deposit or zone: Nelligan #### Resource Data - Category: inferred - Tonnes: 129500000 - Grade: 0.87 - Grade Unit: g/t - Contained Metal: 3600 - Contained Unit: koz au - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2023-02-10 #### Lab - Laboratory: ALS #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2023-02-23T00:00:00.000Z Reasoning: Inferred resource tonnage increased from 114.1 Mt to 129.5 Mt and contained metal increased by 362,000 oz, though grade dropped from 0.88 to 0.87 g/t Au. - Positive factor: Tonnage growth - Positive factor: Contained metal growth - Negative factor: Grade decline Evidence · table > 0.87 Context: 129.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.