DGAP-News: ASTUR GOLD CORP. ADDS JOSH CRUMB TO THE BOARD OF DIRECTORS
(firmenpresse) - DGAP-News: Astur Gold Corp. / Key word(s): Change of Personnel
ASTUR GOLD CORP. ADDS JOSH CRUMB TO THE BOARD OF DIRECTORS
11.05.2011 / 18:32
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Vancouver, BC - Astur Gold Corp. (TSX-V: AST, Frankfurt: CDC) ('Astur Gold'
or the 'Company') is pleased to announce the appointment of Mr. Joshua
Crumb to the Company's Board of Directors.
Mr. Crumb's most recent role was Senior Metals Strategist at Goldman Sachs,
where he analyzed commodity market dynamics, investment strategies, and
corporate risk management programs in the Global Economics, Commodities and
Strategies research division in London. Mr. Crumb holds a Bachelor of
Science degree in Engineering and Master of Science in Mineral Economics
from the Colorado School of Mines. Mr. Crumb also held various positions
within the Lundin group of companies, serving as Director of Corporate
Development at Lundin Mining, and Special Project Analyst for group
chairman Lukas Lundin.
'Josh has exceptional mining expertise and market vision. We value his
background in corporate development and his recent successes with the
leading commodity markets firm; we will leverage this strategic insight as
Astur Gold becomes a gold producer', commented Cary Pinkowski, CEO.
Josh Crumb remarked: 'I am confident in the company's strategy to develop
the high grade Salave deposit, creating value for shareholders and enabling
all stakeholders to benefit from this extraordinary gold market
environment. I also look forward to working with such an accomplished group
of management and directors, who are essential assets for unlocking the
value of the Salave deposit and growing the company through acquisition and
discovery of high value resources.'
Astur Gold has granted Mr. Crumb options to purchase 300,000 common shares
in the Company, exercisable at a price of $1.75 per share for a period of 3
years.
Furthermore, Mr. Paul Conibear is stepping down from the Board of Directors
of the Company. Astur Gold thanks Mr. Conibear for his contribution to the
Company.
ABOUT ASTUR GOLD
The Company is developing its 100% owned Salave Gold Project in northern
Spain. Salave is one of the largest undeveloped gold deposits in Western
Europe. The property has a NI 43-101 compliant mineral resource estimate
containing 1,683,000 oz of gold in the Measured&Indicated category
(2,155,000 tonnes grading 3.88 g/t Au Measured and 15,790,000 tonnes
grading 2.79 g/t Au Indicated) with an additional 338,000 oz of gold in the
Inferred category (3,770,000 tonnes grading 2.8 g/t Au). Salave is subject
to NI 43-101 report, 'Technical Report on Salave Gold Deposit, Spain',
dated March 5, 2010 available on SEDAR.
Salave is also subject to NI 43-101 report, 'Preliminary Economic
Assessment on the Salave Gold Project, Asturias Region, Spain', by Golder
Associates dated February 12, 2011. The PEA investigates three mining
methods and two processing options using a base case gold price of US$1,100
per ounce and throughput rate of 1.1 million tonnes per year. It yields an
NPV ranging from US$374 Million to US$576 Million using a 5% discount rate;
IRR ranging from 34% to 54%; and pre-production capital expenditure payback
period ranging from 2.0 to 3.1 years.
There is excellent exploration potential at Salave, with four of the
principal high grade zones of mineralization open at depth. Additional
exploration areas tothe west have also yet to be tested. Previous
metallurgical tests indicate gold recoveries in the order of 90% are
possible. The region boasts excellent infrastructure and a history of
mining that will help support future mine development. Astur Gold is
advancing Salave towards production and cultivating an enduring partnership
with the people of Asturias in developing economic prosperity for the
region.
ON BEHALF OF THE BOARD
Signed 'Cary Pinkowski'
Cary Pinkowski, Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Vadim Dubchak
#300-1055 West Hastings Street,
Vancouver, B.C., V6E 2E9 Tel: +1 604-694-1600
Fax: 11 604-694-1663
info(at)asturgold.com
www.asturgold.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. Mineral
resources that are not mineral reserves do not have demonstrated economic
viability.
This document contains certain forward looking statements which involve
known and unknown risks, delays and uncertainties not under the Company's
control which may cause actual results, performance or achievements of the
Company to be materially different from the results, performance or
expectation implied by these forward looking statements.
End of Corporate News
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124147 11.05.2011
Datum: 11.05.2011 - 18:32 Uhr
Sprache: Deutsch
News-ID 34038
Anzahl Zeichen: 0
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Kategorie:
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