04:48:38 EST Sat 09 Dec 2023
Enter Symbol
or Name

Login ID:
Astra Exploration Inc
Symbol ASTR
Shares Issued 37,106,753
Close 2022-11-16 C$ 0.16
Recent Sedar Documents

Astra Exploration closes Pampa Paciencia acquisition

2022-11-16 16:54 ET - News Release

Mr. Brian Miller reports


Astra Exploration Inc., further to its news release dated Nov. 3, 2022, has completed the acquisition of a 20-per-cent interest in the Pampa Paciencia project located in northern Chile, previously held by Sociedad Quimica y Minera de Chile SA (SQM). After the acquisition, Astra holds a 100-per-cent interest in the Pampa Paciencia project.

Chief executive officer Brian Miller commented: "We are pleased to complete this consolidation of our flagship project. The acquisition of 100 per cent in the Pampa Paciencia project is a positive and strategic move by Astra which increases upside potential to Astra shareholders. We would like to thank SQM and their management team for their commitment in finalizing this transaction and we look forward to having them as Astra's newest shareholders."

In connection with the acquisition, Astra issued 1,455,208 common shares to Sociedad Quimica y Minera de Chile, pursuant to the terms of the purchase and sale agreement at a deemed value of $174,625 based on the company's closing price of 12 cents per share on Nov. 2, 2022.

About Pampa Paciencia

Pampa Paciencia is a 3,840-hectare, road-access, low-sulphidation epithermal (LSE) gold-silver project located within an active mining district less than 15 kilometres from two major mines (Sierra Gorda and Spence) and five kilometres from the Faride LSE mine.

Astra has completed drilling, mapping and sampling, geophysical surveys and localized trenching at the Pampa Paciencia project and, in doing so, has defined a vein boulder field over approximately 75 per cent 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 prospectively. To date, Astra has defined over two kilometres of thick vein structure averaging 10 to 15 metres estimated true thickness which hosts three zones of high-grade gold mineralization.

Qualified person

The technical data and information as disclosed in this news release has been reviewed and approved by Darcy Marud. Mr. Marud is a practising 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 Astra Exploration Inc.

Astra Exploration is an exploration company based out of Vancouver, B.C. 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.

We seek Safe Harbor.

© 2023 Canjex Publishing Ltd. All rights reserved.