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Astra Exploration Inc
Symbol ASTR
Shares Issued 25,106,753
Close 2022-05-02 C$ 0.22
Recent Sedar Documents

ORIGINAL: ASTRA DRILLS MULTIPLE GOLD INTERCEPTS INCLUDING 14.48 G/T GOLD OVER 3 METRES IN MAIDEN DRILL RESULTS AT PAMPA PACIENCIA PROJECT, CHILE

2022-05-02 10:43 ET - News Release

VANCOUVER, BC, May 2, 2022 /PRNewswire/ - Astra Exploration Inc. (TSXV: ASTR) ("Astra" or the "Company") is pleased to provide results from the first 11 of 30 completed drill holes at the Pampa Paciencia gold-silver project in northern Chile.

Drill Highlights

PPRC-22-12:

  • 14.48 grams per tonne (g/t) gold and 39.7 g/t silver over 3 metres downhole (mDH) within a broader zone of 2.71 g/t gold and 10.8 g/t silver over 21 mDH

PPRC-22-13:

  • 3.28 g/t gold and 58.3 g/t silver over 6 mDH within a broader zone of 1.6 g/t gold and 21.3 g/t silver over 22 mDH

PPRC-22-14:

  • 4.09 g/t gold and 45.22 g/t silver over 4 mDH within a broader zone of 1.39 g/t gold and 17.1 g/t silver over 17 mDH

Astra's CEO, Brian Miller commented: "These first drill results in Astra's brief history are exciting as they define a wide shoot of mineralization near surface that is open along strike and to depth. Company geologists interpret that these holes are only at the top of the gold rich zone with significant room for expansion. The company's maiden drill program has tested five target areas with veins intercepted in 29 of 30 holes. Assays remain outstanding for 18 more drillholes at the project."

Drill Results Discussion

Pampa Paciencia is a road-accessible, low-sulphidation epithermal (LSE) gold-silver project located within an active mining district less than 15 kilometers from two major copper mines (Sierra Gorda and Spence) and 5 kilometers from the Faride LSE mine (Figure 5).

Astra has completed property wide mapping and sampling, geophysical surveys, and localized trenching and in doing so, has defined a vein boulder field over approximately 75% of the project area. The veins do not outcrop as the majority of the project area is covered by a thin layer of gravels and caliche but the vein float can be used to identify areas of high prospectivity.

Reverse circulation drilling commenced on veins within the interpreted five km long North Zone vein corridor (Figure 1). The holes reported herein targeted the Paciencia Vein within that corridor along a strike length of 400 meters. All holes intercepted the vein, with several intercepting a sub parallel footwall splay (Figure 2).

Historical drill holes were widely spaced leaving significant strike and dip length to expand the historical drill intercepts into larger bodies of mineralization. These first results strongly support this interpretation with holes PPRC-22-12, PPRC-22-13 and PPRC22-14 expanding mineralization to the east where it remains open along strike and at depth (Figure 3).

Drill assays are pending for the remaining 18 holes and are expected in May. The remaining drill holes were completed as follows:

  • One in the Paciencia Vein
  • Ten in Paciencia Oeste
  • Three in Paciencia Este
  • Three in the Central Zone
  • One in a North Zone geophysical target

The Paciencia Vein consists of vein breccias, hydrothermal breccias, quartz stockworks and late limonitic breccias with vein clasts that form a WNW-ESE oriented mineralized structure with a true thickness of 10 to 20 metres. The vein has a general north-dip that gradually changes from 75degree NNE in the west portion of the vein, to 85degree to subvertical in the east. The current geologic interpretation has identified two to three main branches of the Paciencia Vein, with higher grades located in the more vertical portion of the vein (Figure 4 and 3D Movie). To view the 3D movie, please click here.

Geochemical results (Table 1) confirm the gold-rich nature of the Paciencia Vein, with an average Ag to Au ratio of 16 in the higher grade portions of the vein, and increasing to 48 when in the wider low grade zones.

Exploration Program Discussion

A total of 2,981 metres of RC drilling were completed in thirty holes between February and March 2022 at Pampa Paciencia. These mostly concentrated on defining the strike and depth continuity of the Paciencia Vein system in the North Zone (Figure 1). Three holes were drilled to test veins at depth in the Central Zone (Figure 1 - inset) and two holes tested geophysical targets in the North Zone. A total of 1,233 samples, including blanks, duplicates and standards, were sampled and sent to ALS lab in Santiago, Chile.

The drill program was completed for ~C$650,000 of all-in costs highlighting the ability to complete cost-effective exploration at low elevations in Chile.

Eleven historical holes had been drilled previously on the property and Astra's geologists continued with the numbering system, so holes PPRC-22-12 to PPRC-22-22 are the first 11 holes completed by Astra Exploration.

Sampling Procedures

Drill samples were sampled, bagged, and tagged by Astras geologists and then delivered to the ALS sample preparation laboratory in Santiago. Samples were prepared with PREP 31B code, and then analyzed with fire assay for gold (Au-AA24), acid digestion for silver (Ag-AA62), and multi elements by ICP (ME-ICP61). Gold over-limits were analyzed by gravity method (Au-GRA22).

Qualified Person Statement

The technical data and information as disclosed in this report has been reviewed and approved by Darcy Marud. 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.

About the Company

Astra Exploration Inc. is an exploration company based out of Vancouver, BC. Astra is engaged in the acquisition, exploration and development of epithermal gold-silver properties in Chile and is building a portfolio of high-quality projects. Astra's current focus is the development of the Pampa Paciencia Project. Additional information is available on the Company's website at www.astra-exploration.com

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.

Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.

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; and marketing initiatives. 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.sedar.com. 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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SOURCE Astra Exploration Limited

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