Archean Star Resources Inc (TSX.V - ASP) Commences Trading on the TSX Venture Exchange - Video Interview of Graeme O'Neill on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, April 1, 2011 - Archean Star Resources Inc. which
was recently spun off from Kent Exploration Inc (KEX: TSX-V) through a Plan of
Arrangement that took effect January 28, 2011, commenced trading on the TSX
Venture Exchange under the symbol "ASP".
InvestmentPitch.com's Tara Sweder interviews Graeme O'Neill, President of
Archean Star and Kent Exploration. Click here to watch the video. If the link is
not enabled, please visit www.investmentpitch.com and enter "Archean/interview"
in the search box.
Archean Star Resources Inc is a junior exploration company that, through its
wholly owned subsidiary, Archean Star Resources Australia Pty Ltd, has entered
into an Option Agreement, subject to a 75% back in right, to earn 100% of Teck
Australia Pty Ltd's interest in Chalice Gold Mines Limited's Gnaweeda Gold
Project in West Australia.
On February 11, 2011, the company completed an additional 7 hole diamond drill
program at the Bunarra prospect, to follow up the March 2010 diamond drill
program where diamond drill hole BN003 intersected 18 meters that graded an
average 11.71 grams per tonne gold. Diamond drill hole DDH BN004, intersected
1.3 meters grading 14.6 grams per tonne gold between 143.9 metres and 145.2
metres. Assays are still pending for holes DDH BN005 through BN010. At Bunarra,
gold mineralization associated with arseno-pyrite and pyrite has been identified
along an approximately 200 meter strike with widths of up to 50 meters. The zone
is open along strike and to depth. A NI 43-101 compliant technical report on the
Gnaweeda property is posted on the Company website at
http://www.archeanstar.com/reports/Gnaweeda43-101.pdf and on SEDAR at
www.sedar.com.
To date, Archean advises that, on completion of the upcoming Phase IIC work
program it will have spent approximately AUD$1,490,000 in property expenditures
on the Gnaweeda Gold Project. The Phase IIC exploration program consisting of
diamond drilling at both Bunarra and St. Anne's prospects and an IP Survey over
the Bunarra prospect is to commence immediately. The IP survey is to determine
whether a geophysical signature can be identified for the gold bearing arseno-
pyrite/pyrite mineralization that can be applied to the other known gold
prospects on the 170 square kilometre property.
Archean Star also announces that, subject to acceptance by the TSX Venture
Exchange of the final documentation, it has closed the 1st tranche (572,608
Units for gross proceeds of $143,152) of its previously announced, up to
1,000,000 Unit non-brokered Private Placement.
Each unit consists of one (1) common share and one (1) non-transferable common
share purchase warrant. Each warrant is exercisable for a period of one (1) year
from closing and will entitle the holder to purchase one additional common share
in the capital stock of the Company at a price of $0.35 per common share. Shares
subscribed for in the Private Placement are subject to a four (4) month plus one
day hold period.
For more information please contact Brett Delaney at 604-569-1005 or
brett(at)archeanstar.com.
CONTACT:
InvestmentPitch.com
Barry Morgan,CFO
bmorgan(at)investmentpitch.com
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originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1502888]
Unternehmensinformation / Kurzprofil:
Datum: 02.04.2011 - 03:39 Uhr
Sprache: Deutsch
News-ID 53096
Anzahl Zeichen: 4085
contact information:
Kategorie:
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