Vancouver, British Columbia–(Newsfile Corp. –January 8, 2024) – Astra Exploration Inc. (TSXV: ASTR) (OTCQB: ATEPF) (ESF: S3I) (“Astra” or the “Company”) will announce that its wholly-owned subsidiary, Astra Exploration Chile SpA, has obtained approval of its Environmental Impact Statement (EIS) for the Pampa Paciencia assignment in northern Chile (Figure 1).
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Executive Director Brian Miller commented:
“Securing the approved EIA is an important milestone for Astra which allows us to extensively explore the gold-silver epithermal system and focus on expanding its size. Importantly, Astra is readily able to conduct geophysical surveys and drilling operations on the entirety of the Paciencia District claim group, which hosts several kilometers of untested epithermal vein targets and a large porphyry copper target. The permitting process went as expected and concluded on schedule, and we are excited to proceed with further geophysics and drilling as soon as possible.”
Figure 1: Location of the Paciencia district in northern Chile, approximately five kilometers from the Spence and Sierra Gorda mines and five kilometers from the Faride epithermal mine. To view an enhanced edition of this chart, please visit: https://images. newsfilecorp . com/files/89five1/193427_five1dfive903d440e9844_002full. jpg
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The EIA permitting process was initiated immediately upon completion of the second of two successful drill programs in 2022, where three separate shoots of high-grade gold were discovered from approximately 7,000 metres of RC drilling in 45 holes. These drill programs produced select assay results of 14.48 grams per tonne (g/t) gold plus 39.7 g/t silver over 3 metres in PPRC-22-12, and 3 g/t gold plus 121 g/t silver over 9 metres in PPRC-22-45 (see May 2 and Sept. 26, 2022 news releases respectively).
Under the original permission, the company was limited to a maximum of 39 platforms, all of which were used on a small domain that accounted for less than ten percent of the mapping domain (Figure 2). The new permit allows the company to build up to 330 new drilling rigs and includes provisions for in-depth geophysical surveys.
Figure 2: Magnetic ground map with white shapes representing drilled spaces in Phases I and II of 2022. To view an enhanced edition of this graphic, visit: https://images. newsfilecorp. com/files/8951/193427_51d5903d440e9844_003full . jpg
About Pampa Paciencia
Pampa Paciencia is a road-accessible low-sulphidation (LSE) epithermal gold-silver assignment in an active mining district less than 15 kilometres from two primary mines (Sierra Gorda and Spence) and approximately five kilometres from the Faride LSE mine.
Astra completed drilling, mapping, sampling, geophysical surveys, and trenching located at the Pampa Paciencia assignment and in doing so showed the discovery of a giant gold-silver epithermal vein formula and accounted for a vein block box () at approximately 75%. of the mapping domain. The veins do not outcrop as most of the mapping domain is covered by a thin layer of gravel and caliche, however the vein can be used to identify spaces of maximum prospectivity.
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 District.
Qualified Person
The know-how and data disclosed in this press have been reviewed and approved through Darcy Marud. Sr. Marud is a practicing member of the Ontario Association of Professional Geoscientists and is a qualified individual as explained in National Instrument 43-101, Disclosure Standards for Mineral Projects.
For information, please contact:
Brian MillerExecutive DirectorTel. 604. 428. 0939Email: brian. miller@astra-exploration. com
Neither the TSXV nor its Regulatory Service Provider (as that term is in the TSXV’s policies) accepts responsibility for the adequacy or accuracy of this release.
Mineralization hosted in adjacent and/or nearby dwellings and/or geologically is not necessarily indicative of mineralization hosted in the Company’s dwellings.
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; completion of the transactions contemplated by the Purchase Agreement; receipt of all required regulatory approvals; 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.
To view the source edition of this press release, https://www. newsfilecorp. com/release/193427
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