Troilus Gold advances project financing with additional LOIs for $500m
In May, the company produced a feasibility study that demonstrated the potential for Troilus to be amongst the largest gold producers in Canada.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 7, 2011) – Astral Mining Corporation (TSX VENTURE:AA)(TSX VENTURE:AA.WT)(PINK SHEETS:AAMJF)(FRANKFURT:A7DA) (“Astral” or “the Company”) is very pleased to announce commencement of diamond drilling on its 4,168ha Los Crestones gold-silver project, located within the Sierra Madre gold-silver belt of western Mexico in Sinaloa state.
Three parallel vein/breccia zones, named Corona, Bohemia and Indio will be tested in this first-ever drilling program at Los Crestones. Astral plans to complete a minimum of 2,500m of HQ and NTW sized diamond core drilling during the program using a highly mobile diamond drill supplied by Energold Drilling Mexico.
Astral’s surface work to date on the project has returned highly encouraging gold and silver values from low sulphidation epithermal vein/breccia zones which have been traced for up to 900m along strike; recent results include 12m averaging 2.1g/t gold from hand trenching on the Corona breccia/vein and grab samples ranging up to 32.2 g/t gold and 368g/t silver from underground samples of the Bohemia Vein (see August 9, 2011 News Release).
Astral Mining Corporation is a Canadian company engaged in the exploration and development of precious metal properties in North America. By focusing on exploration in mining-friendly districts, the Company minimizes the political and social risks encountered in many other parts of the world. With a new gold discovery at the Company’s Jumping Josephine Gold Project in Southern British Columbia and an experienced technical team and seasoned management, Astral is poised to leverage this expertise into early exploration success. Further details on Astral Mining Corporation and its high-quality portfolio of exploration projects can be found at www.astralmining.com.
ON BEHALF OF THE BOARD
Mr. Manfred Kurschner, President & CEO Astral Mining Corporation
Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
2011 Number 14
Shares outstanding – 21,689,400
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
