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VANCOUVER, British Columbia, Feb. 02, 2022 (GLOBE NEWSWIRE) -- Astra Exploration (TSXV:ASTR) is one of the latest new listings on the TSX Venture Exchange, following its qualifying transaction with CPC Momentous Capital. Vancouver-based Astra Exploration is engaged in the acquisition, exploration and development of epithermal gold-silver properties in Chile.
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The company is focussed on its flagship asset, the Pampa Paciencia Project, located in the Antofagasta Region of Chile. Pampa Paciencia, a drill ready low sulphidation epithermal project, was previously explored by B2 Gold in a joint venture with Arena Minerals who discovered a northwest-trending Paciencia vein in the North Zone and completed a single drill program in 2015.
The company has also expanded the claim package with the acquisition of 1,700 hectares of 100% owned ground immediately west of the outcropping veins. Pampa Paciencia is now a 3,840 hectare property and exploration by Astra in 2021 has defined a much larger vein field on the property.
This drill program returned a number of notable intercepts that Astra intends to expand upon: Hole PP15-007: 3.75 meters grading 7.71 g/t gold and 46.6 g/t silver Hole PP15-006: 2.1 meters grading 8.13 g/t gold and 29.1 g/t silver within a broader interval of 21 meters grading 1.69 g/t gold and 22.1 g/t silver Hole PP15-001: 4.0 metres grading 1.24 g/t gold and 67.7 g/t silver
A longitudinal section along the Paciencia vein in the North zone shows large gaps around mineralized intercepts and no drilling beneath them. Astra management believes these intercepts may be the discovery holes into mineralized shoots along the vein. The company will step out and underneath from these hits with a drill program commencing in February that aims to define larger panels of mineralization along the vein.
Brian Miller, CEO, stated: "Completion of the transaction and listing of Astra is the beginning of an exciting 2022 for the Company. Astra is well positioned with a very tight share structure and an exciting portfolio of epithermal gold projects. The team has a proven discovery track record and a deep understanding of exploration in Chile. The Company's philosophy is to apply our discovery expertise to epithermal projects in Chile which have been historically overlooked due to a focus on copper exploration in the country. We will start drilling immediately at Pampa Paciencia with a fully-funded program and are reviewing a pipeline of complimentary assets in the country."
The company also owns 100% of the 4,480-hectare Cerro Bayo project, a high-sulphidation epithermal gold project in the world-class Maricunga belt of northern Chile, a prolific gold region with a known endowment of more than 90 million ounces of gold. The project is road accessible with nearby infrastructure and is approximately 25 kilometers northeast of the Norte Abierto project co-owned by Newmont and Barrick. Management is evaluating multiple avenues for advancing this project.
The shares are trading at $0.28. For more information, please visit the company’s website www.astra-exploration.com, contact Brian Miller, CEO, at 208-830-0869 or by email [email protected]
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