Estrella's Henry Sur Project Available for Joint Venture in Southern Peru
16 Dicembre 2013 - 10:32PM
Marketwired
Estrella's Henry Sur Project Available for Joint Venture in
Southern Peru
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 16, 2013) -
Estrella Gold Corporation (TSX-VENTURE:EST) ("Estrella" or the
"Company") announces that Cliffs Natural Resources Exploration
Inc., a wholly owned subsidiary of Cliffs Natural Resources Inc.
(NYSE:CLF)(PARIS:CLF) ("Cliffs"), has released the Henry Sur
property under the Alliance Agreement. The Henry Sur project was
identified as a "Target" under the Alliance Agreement with Cliffs
in 2012 and is comprised of 16 concessions totaling 11,600
hectares.
Mr. John R. Wilson, President and CEO of Estrella, commented,
"Although Cliffs has decided not to proceed with the Henry Sur
Project, we continue to believe that the property has the potential
for the discovery of a major copper skarn system with by-product
gold, zinc and lead. As such, the Company plans to either continue
work on the property or to look for a qualified Joint Venture
partner for the property. In our mind, the project continues to
offer significant potential for increasing Estrella shareholder
value, and we look forward to getting good exploration results in
the future."
The Henry Sur property is located in Departamento Ica
approximately 30 kilometers east of the town of Chincha Alta, and
currently, the Company is preparing a complete data package to
offer to potential qualified partners.
Geologically, the prospect is comprised of limestone and clastic
sedimentary rocks which has been intruded by Cretaceous
granodiorite (Coastal Batholith) and locally diorite. The limestone
sequence trends northwesterly and is up to 5 km wide and a minimum
of 15 km long. The sedimentary sequence probably represents a mega
roof pendant within the coastal batholith, and it is estimated to
be a minimum of 300 meters thick.
To date, the entire property has been mapped at a scale of
1:10,000, and a total of 160 surface rock-chip samples have been
collected. The majority of these samples were taken within skarn
zones at or near to the limestone/granodiorite contact.
Work to date has identified two areas of significant interest:
the Abrapata Zone and the Catalina Zone. The Abrapata Zone is
approximately 2.5 kilometers long and 1.0 kilometer wide and
contains approximately 30, relatively small zones of
garnet-(±pyroxene) skarn. The skarn bodies generally occur at the
contact between the limestone and the adjacent granodiorite, and
they range from a few meters up to approximately 30 meters wide and
have a maximum strike length of 150 meters. Grades within this zone
range up to 0.79 percent copper and 0.20 percent zinc, with more
erratically distributed silver (up to 117 gpt), lead (up to 0.27
percent), gold (0.24 gpt), and molybdenum (up to 353 ppm). The
Catalina Zone is approximately 2.5 kilometers long and 1.0
kilometer wide and contains 24, relatively small zones of
garnet-(±pyroxene) skarn. These skarn bodies range up 10 meters
wide and they have a maximum strike length of 30 meters. Grades
within this zone range up to 6.1 percent copper and 6.6 percent
zinc, with more erratically distributed silver (up to 271 gpt),
lead (up to 7.1 percent), gold (0.3 gpt), and molybdenum (up to 451
ppm).
In addition to the copper skarn potential of the Henry Sur
property, it should be noted that a small quartz-veined
granodiorite dike was identified within the limestone during the
mapping/sampling program. This dike contains 0.16 percent copper
and 0.45 gpt gold, and although this is a relatively minor
occurrence, it is possible that this style of mineralization may
indicate that a copper-gold-type system may be present at
depth.
About Estrella Gold Corporation (TSX-VENTURE:EST) Mineral
exploration is inherently risky and Estrella increases the chances
of success as a "Prospect Generator" focused on gold exploration in
Latin America. Estrella identifies and acquires new mineral
properties, conducts initial, low-cost exploration to define a
potential new deposit and then forms joint ventures with other
companies that will provide funding for more advanced exploration.
Estrella has four properties optioned out or held in joint venture
agreements. The Company has 31.6 million shares issued and
outstanding, and is listed on the TSX Venture Exchange
(TSX-VENTURE:EST).
www.estrellagold.com.
NEITHER TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX-VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER
THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING
TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS,
MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS
ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE
RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND
DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM
THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
Estrella Gold CorporationJohn R. WilsonPresident and CEO(604)
687-3520(888) 889-4874Estrella Gold CorporationSandrine
LamShareholder Communications(604) 687-3520(888)
889-4874www.estrellagold.com
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