Astra Exploration Elects to Proceed With Option Agreement For Manchuria Epithermal Gold-Silver Project, Santa Cruz, Argentina
Astra Exploration has confirmed its decision to proceed with the option agreement for the Manchuria epithermal gold-silver Project in Santa Cruz, Argentina, following approvals from the royalty holder and provincial authorities. The agreement, dated July 8, 2024, grants Astra the exclusive option to acquire up to 90% interest in the project from Patagonia Gold Corp. Located in the Deseado Massif region, the project shows potential for a high-grade, multi-million-ounce precious metals deposit based on ongoing data review and drill core re-logging.
Astra Exploration ha confermato la sua decisione di procedere con l'accordo di opzione per il Progetto epithermale oro-argento Manchuria a Santa Cruz, Argentina, dopo aver ricevuto le approvazioni dal detentore delle royalty e dalle autorità provinciali. L'accordo, datato 8 luglio 2024, concede ad Astra l'opzione esclusiva di acquisire fino al 90% di interesse nel progetto da Patagonia Gold Corp. Situato nella regione del Massiccio Deseado, il progetto presenta potenziale per un deposito di metalli preziosi ad alto grado, da milioni di once, basato sulla revisione continua dei dati e sulla riesamina dei campioni perforati.
Astra Exploration ha confirmado su decisión de proceder con el acuerdo de opción para el Proyecto epithermal de oro y plata Manchuria en Santa Cruz, Argentina, tras recibir las aprobaciones del titular de las regalías y de las autoridades provinciales. El acuerdo, fechado el 8 de julio de 2024, otorga a Astra la opción exclusiva de adquirir hasta el 90% de interés en el proyecto de Patagonia Gold Corp. Ubicado en la región del Macizo Deseado, el proyecto muestra potencial para un depósito de metales preciosos de alta ley, con millones de onzas, basado en la revisión continua de datos y en la re-evaluación de los núcleos de perforación.
Astra Exploration는 아르헨티나 산타 크루즈에 있는 만주리아 에피터말 금-은 프로젝트에 대한 옵션 계약을 체결하기로 결정했다고 확인했습니다. 이는 로열티 소유자와 주 정부의 승인을 받은 후입니다. 2024년 7월 8일자로 체결된 이 계약은 Astra에게 파타고니아 골드 코프로부터 프로젝트에 대한 최대 90%의 지분을 획득할 수 있는 독점적 옵션을 부여합니다. 데세아도 마시프 지역에 위치한 이 프로젝트는 지속적인 데이터 검토와 시추 코어 재분석에 기반하여 고품질의 수백만 온스에 달하는 귀금속 매장 가능성을 보여줍니다.
Astra Exploration a confirmé sa décision de procéder à l'accord d'option pour le projet épithermal d'or et d'argent Manchuria à Santa Cruz, en Argentine, après avoir obtenu les approbations du détenteur de redevances et des autorités provinciales. L'accord, daté du 8 juillet 2024, accorde à Astra l'option exclusive d'acquérir jusqu'à 90 % d'intérêts dans le projet auprès de Patagonia Gold Corp. Situé dans la région du massif de Deseado, le projet présente un potentiel pour un dépôt de métaux précieux de haute teneur, de plusieurs millions d'onces, basé sur la révision continue des données et la réévaluation des carottes de forage.
Astra Exploration hat seine Entscheidung bestätigt, das Optionsvereinbarung für das Manchuria epithermale Gold-Silber-Projekt in Santa Cruz, Argentinien, fortzuführen, nachdem die Genehmigungen des Royalties-Inhabers und der Provinzbehörden vorlagen. Die Vereinbarung, datiert auf den 8. Juli 2024, gewährt Astra die exklusive Option, bis zu 90% des Projekts von Patagonia Gold Corp zu erwerben. Das Projekt, das sich in der Region des Deseado-Massivs befindet, zeigt das Potenzial für ein hochgradiges, mehrere Millionen Unzen umfassendes Edelmetalllager, basierend auf laufenden Datenanalysen und der Neubewertung von Bohrkernen.
- Option to acquire up to 90% interest in a potentially significant gold-silver project
- Project located in established mining jurisdiction of Santa Cruz, Argentina
- Received necessary regulatory and royalty holder approvals
- None.
Vancouver, British Columbia--(Newsfile Corp. - October 25, 2024) - Astra Exploration Inc. (TSXV: ASTR) (OTCQB: ATEPF) (FSE: S3I) ("Astra" or the "Company") is pleased to announce that in connection with the binding letter agreement dated July 8, 2024 (the "Agreement") approvals from both the existing royalty holder and from the Santa Cruz Provincial authorities have been received, and Astra has delivered timely notice to Patagonia Gold Corp of its election to proceed with the Agreement (see July 9, 2024 news release).
Astra has the exclusive option to acquire up to a
Astra's CEO, Brian Miller commented:
"Astra's review of the data, and re-logging of drill core continues to produce evidence of a large epithermal system at Manchuria which has the potential to host a high-grade, multi-million-ounce precious metals deposit. Investor interest in both the Manchuria project and in Argentina as a favorable jurisdiction has been very positive, and we're excited to proceed with exploration as soon as possible."
About the Company
Astra Exploration Inc. is a precious metals exploration company based out of Vancouver, BC that is actively building a portfolio of high-quality projects in some of the most important mining jurisdictions in Latin America. Its
Qualified Person
The technical data and information as disclosed in this news release has been reviewed and approved by Darcy Marud, who is an Independent Director of Astra. 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.
For further information please contact:
Brian Miller
Chief Executive Officer
Tel. 604.428.0939
Email: brian.miller@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; 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 version of this press release, please visit https://www.newsfilecorp.com/release/227829
FAQ
What percentage can Astra Exploration (ATEPF) acquire in the Manchuria Project?
Where is the Manchuria Project that Astra Exploration (ATEPF) is acquiring located?
When did Astra Exploration (ATEPF) sign the binding letter agreement for the Manchuria Project?
Who is Astra Exploration (ATEPF) acquiring the Manchuria Project from?
