Astra Provides Update on Drill Program at La Manchuria Project, Argentina
Astra has completed eleven DDH holes for a total of 2,468 metres and submitted core samples for analysis. Assay results are expected to be received beginning in early June.
Astra's CEO, Brian Miller, commented:
"Our plan for La Manchuria was to find extensions of high-grade veins, at depth and along strike. We have also targeted new veins to the southwest and northeast of drilling to date as well. The program has progressed quickly and, more importantly, has intersected quartz veins and/or veinlets in all holes, and there are discrete zones of observable mineralization. We are encouraged by field observations and look forward to receiving assay results over the coming weeks. I'd like to specifically acknowledge that despite some adverse weather conditions, the drill program remained on schedule due to the steadfast efforts by Astra personnel and contractors, and thanks to the cooperation and support from Fomicruz and Patagonia Gold."
Program Details
The goal of Astra's initial drill program is to test a new geological model for extending the high-grade gold and silver mineralization beyond the 2019 resource1 area, and into previously undrilled zones (see yellow zones 1-4 in Figure 1). Drilling targeted the extension of known veins and mineralized faults along strike and at depth (zone 1 in Figure 1), tested for new structures parallel to known structures (zones 2 & 3 in Figure 1) and also tested the Eastern Zone (zone 4 in Figure 1) at depth and along strike with two holes.
The drilling, completed to date, was successful in intersecting new quartz vein structures outside the limits of past drilling thus confirming our geologic model and interpretation. Also noteworthy is that the post-mineral breccia which conceals the vein and fault extension to the southeast (green area within zone 1 in Figure 1) is getting thinner (vertical thickness) to the southeast. This indicates a thicker vertical horizon of rhyolitic tuff to the southeast, which is the most favorable host rock identified to date.
These results and pending assays, in conjunction with the large dataset from past exploration, will serve as the foundation in planning a follow-up drill program in the coming months.
Figure 1: Four target areas defined in yellow, and locations of 11 holes LMD-105 through LMD-115 drilled in April-May. Post-mineral breccia (green) getting thinner (vertical thickness) to the southeast.
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8951/252868_487b6e67449ffb49_002full.jpg
About the Company
Astra Exploration Inc. is a precious metals exploration company based out of Vancouver, BC, that is actively building a portfolio of high-quality projects in some of the most important mining jurisdictions in Latin America.
The La Manchuria gold-silver project in Santa Cruz, Argentina, over which Astra has an option to acquire 90% interest, is a high-grade gold and silver low sulphidation epithermal (LSE) deposit located in the prolific Deseado Massif which hosts multiple world-class LSE precious metals deposits, including Cerro Vanguardia and Cerro Negro, Santa Cruz, Argentina.
The 100% owned Pampa Paciencia gold and silver project in northern Chile is located in the Paleocene mineral province in proximity to such major operating mines as Spence and Sierra Gorda. The project shares several important geological similarities to other Paleocene LSE gold-silver deposits including Faride and El Peñón.
The 100% owned Cerro Bayo project in northern Chile is located in the Maricunga belt approximately 20 km from the Refugio Mine. The project hosts a high sulphidation epithermal (HSE) +/- porphyry gold system with similarities to the Salares Norte deposit to the north in the same belt. The Maricunga belt is one of the most endowed regions in the world for gold and copper deposits.
Qualified Person
The technical data and information as disclosed in this news release has been reviewed and approved by Darcy Marud, who is an Independent Director of Astra. Mr. Marud is a Practicing Member of the Association of Professional Geoscientists of Ontario and is a qualified person as defined under the terms of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
For further information, please contact:
Brian MillerChief Executive Officer Tel. 604.428.0939Email: brian.miller@astra-exploration.com
References:
1 Source: Stubens, T. and Gowans, R., September 27, 2019. Updated Technical Report on the Mineral Resources of the La Manchuria Project Santa Cruz Province, Argentinahttps://www.sedarplus.ca/csa-party/records/document.html id=6bc2df299100dda4b4142a8fc3458ea9e378a7ef5b24922fa490ce964833e1b0
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward- looking statements or information. These forward-looking statements or information may relate to the Company's business activities; exploration on the Company's properties including drilling at the La Manchuria project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Such factors include, without limitation: development of the industry in which the Company operates; risks associated with the conduct of the Company's business activities; risks relating to reliance on the Company's management team and outside contractors; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; laws and regulations governing the industry in which the Company operates; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties; employee relations, labour unrest or unavailability; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and other risk factors disclosed in the Company's public disclosure documents available on the Company's profile at www.sedarplus.ca. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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