VANCOUVER, BC, March 14,
2022 /CNW/ - Astra Exploration Inc. (TSXV: ASTR)
("Astra" or the "Company") is pleased to provide an
exploration update on Pampa Paciencia, its flagship gold-silver
project in northern Chile (Figure
5).
Highlights
- Delineation of a 600 metre long mineralized vein & breccia
structure at the Paciencia and Paciencia East veins containing wide
intervals, up to 28.8 metres of precious metals, including 3.5
metres @ 5.0 grams per tonne (g/t) gold equivalent (AuEq) in trench
TRP22-09
- Trenching results and re-logging historical drill core confirms
both grade and vein thickness increasing at depth
- 3,000 metre drill program commenced in February. Approximately
1,500 metres are planned to test the Paciencia Vein at depth and
along strike (Figure 4) with remainder of metres testing other
veins in the North and Central Zone targets .
Astra Exploration's CEO, Brian
Miller commented:
"The Company is making great strides with drilling commencing
only one month after public listing. Preparation ahead of
drilling included systematic trenching and re-logging of historic
core. This demonstrates Pampa Paciencia is a large system
with wide veins and high grade gold and silver
intercepts."
"Most exciting is that historic drilling indicates grades are
increasing at depth where the Company's initial drill holes will
test. These are the perfect ingredients for a large,
preserved system and the Company's maiden drill program will look
to step out from open intersections to grow the Pampa Pacienca
mineralization further."
Exploration Program Discussion
Pampa Paciencia is a 3,840 ha 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.
The current exploration program has combined property wide
mapping and sampling, geophysical surveys, and localized trenching
with the dual aims of defining a larger district and identifying
the highest priority initial drill targets.
Trenching
A 1,119 metre trenching program was completed in early 2022 at
the Pampa Paciencia project to map the Paciencia and Paciencia East
veins, and to confirm underlying magnetic structures coincident
with float Au-Ag anomalies. Trenches were concentrated in the
outcropping or subcropping areas of the North target, with some
trenches targeting covered areas. A total of 311 samples were taken
with rock saw and pneumatic hammer and sent to ALS lab in
Santiago, Chile.
Above the primary drill target systematic trenches at the
Paciencia and Paciencia East veins reported anomalous gold and
silver, with best results of of 21.1 metres @ 1.28 g/t AuEq,
including 3.5 metres @ 5 g/t AuEq in trench TRP22-09 (Table
1).
Trenches in covered areas (TRP22-01, TRP21-04 and TRP21-06)
failed to reach the bed rock due to the combined thickness and
hardness of the caliche and alluvial sediments cover. Trenches
TRP21-03, TRP21-07 and TPR22-11 did not return significant
mineralization.
Detailed trench mapping and interpretation of geophysical
lineaments reveals that the the surface expression of the Paciencia
vein system is a NW-SE striking fault-related lineament composed
mainly by a late tectonic and hydrothermal breccia with limonitic
matrix and clasts of the LSE quartz vein. This late breccia event
is transporting vein clasts to the surface, creating the large
amount of vein float blocks, and diluting the precious metal
content of the quartz veins.
Relogging of DDH cores from holes PP15-005, PP15-006 and
PP15-007 confirmed that the vein breccias are more abundant at
surface and the quartz veins are thicker and more continuous at
depth (Figure 3).
Reverse circulation drilling commenced in February at Pampa
Paciencia, with 50% of the 3,000 metres program stepping out
from known mineralization on the Paciencia vein (Figure 4). The
rest of the program will be testing Paciencia Este vein, Paciencia Oeste vein,and geophysical anomalies
in the North Zone and the Central Zone (refer to February 17 news release) target.
The Company is stepping out in 35-50 metre steps from
previous drilling including hole PP15-007 which returned 3.75
metres @ 8.29 g/t AuEq and hole PP15-006 which returned 2.1 metres
@ 8.49 g/t AuEq. This drilling indicates to company
geologists that mineralization is getting stronger in the deepest
holes, that the mineralization is likely to be fully preserved and
that previous drilling was too widely spaced to accurately define
the shoots of mineralization that occurs in epithermal veins like
those at Pampa Pacienca.
Sampling Procedures
Trench samples were sampled, bagged, and tagged by Astra´s
geologists and then delivered in two separate batches to the ALS
sample preparation laboratory in Santiago. The first group was delivered by
Company personnel directly to the lab, while the second group was
sent to the lab by courier. The geologists placed a series of blind
blanks, standards and sample duplicates in the sample shipments as
part of the Company's QA/QC protocol. The QA/QC results were
checked and verified before any sample results were accepted to the
assay database. 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).
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 Compnay'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
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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,
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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;
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sufficient cash flow from operations; laws and regulations
governing the industry in which the Company operates; the ability
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implications of COVID-19 to the Company; operating or technical
difficulties; employee relations, labour unrest or unavailability;
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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
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SOURCE Astra Exploration Limited