Candor, Nustar merge

A merger deal between Candor Ventures and Nustar Resources is complete now that the TSX Venture Exchange has approved the issuance of shares under the merger plan. The amalgamated company, under the name Canstar Resources (ROX-V), began trading in early April.

Under the merger deal, shares in the two companies were traded one-for-one for shares in Canstar.

Candor’s assests include the Miminiska Lake gold property in north-central Ontario, a land package in the McFaulds Lake region of northern Ontario, property deals on the Slate Bay gold prospect, near Red Lake, and the Mary March base metal prospect, near Buchans, Nfld.

Nustar’s main asset is the large Seal River property in northern Manitoba, where about 20 kimberlite targets have been identified.

A 1,600-metre drill program at Miminiska Lake recently tested induced-polarization anomalies in iron formation but intersected no significant mineralization.

Canstar intends to drill seven holes at Seal River in April, following up on airborne survey results.