A merger deal between Candor Ventures (CND-V) and Nustar Resources (NTR-V) is complete, now that the TSX Venture exchange has approved the issue of shares under the merger plan. The amalgamated company, under the name Canstar Resources (ROX-V), begins trading today.
Under the merger deal, shares in the two companies were traded one-for-one for shares in Canstar.
Candor brings in the Miminiska Lake gold property in north-central Ontario, a land package in the McFaulds Lake region of far northern Ontario, and 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 recent 1,600-metre drill program at Miminiska Lake tested induced-polarization anomalies in iron formation similar to the Musselwhite gold deposit, but intersected no significant mineralization. Canstar plans a seven-hole testing program at Seal River for April, following up on recent airborne electromagnetic surveys.
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