(TSX-V: ASTR,
OTCQB: ATEPF)
VANCOUVER, BC, June 29,
2022 /CNW/ - Astra Exploration Inc. (TSXV: ASTR)
(OTCQB: ATEPF) ("Astra" or the "Company") is pleased to
announce that it has commenced Phase II drilling at its Pampa
Paciencia Project located in Northern
Chile.
The Phase II drill program will consist of up to 5,000
metres of RC drilling and will primarily focus on expanding
mineralization at depth and along strike in the two defined
mineralized shoots located in the Paciencia Vein System (Figure 1).
Secondary targets will consist of other vein structures discovered
with Phase I drill program and newly interpreted vein structures
from other geophysical targets, in particular those WNW, E-W to
ENE-striking magnetic lineaments related with low magnetic regional
anomalies (Figure 2).
Brian Miller, CEO of Astra
commented: "This is an exciting time for Astra shareholders as we
further drill-test the recently defined zones of high-grade
mineralization and simultaneously look to expand the potential of
the district by drilling other vein structures. Exploration to date
demonstrates that the LSE system at Pampa Paciencia is large with
thick, continuous vein structures, and positive drill results have
the ability to add significant value to Astra's market cap."
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 (Figure 3).
Astra has completed property wide mapping and sampling,
geophysical surveys, and localized trenching and in doing so, has
defined a vein boulder field over approximately 75% 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 prospectivity.
Drill results from the Phase I program completed earlier this
year defined gold mineralization in the Paciencia Vein System,
which is a thick LSE vein structure averaging 10-15 metres
thickness over a strike length of approximately 1.4 kilometres.
Exploration results continue to indicate a large LSE system under
thin cover, with two known zones of gold mineralization near
surface which are open along strike and at depth (see May 2 and May 25,
2022 press releases).
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.
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
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.
SOURCE Astra Exploration Limited