Astorius Resources Ltd. reports high grade gold and silver samples from its Osos 1 mining concession in Ecuador
(firmenpresse) - Astorius Resources Ltd. reports high grade gold and silver samples from its Osos 1 mining concession in Ecuador
Vancouver, BC, March 21, 2017- Astorius Resources Ltd. (Astorius) (TSXV:ASQ) is pleased to announce the analytical results for eleven rock samples collected during its due diligence visit to the Osos 1 gold property in Ecuador in December, 2016.
Surface rock sampling carried out by Kinross in 2007 demonstrated very high levels of gold in veins on the property, and lower, but significant, levels of gold in the more extensive breccias also on the property.
Astorius due diligence visit focused on underground sampling, now possible because of artisanal mining currently in progress on the property, in order to assess the continuity of gold mineralisation with depth.
On the basis of its December sampling and visual inspection of current mining, Astorius concludes the following:
(a) That the high grade gold veins identified by Kinross continue with depth and are sufficiently continuous horizontally to have been mined profitably by small-scale mining methods for a number of years (A 3.48kg composite sample of sulphide veins being mined immediately adjacent to the property yielded 25 g/t Au and 304 g/t Ag and a 0.44 kg sample of oxide ore taken within the property yielded a 252 g/t Au assay);
(b) That the scale of development of these gold veins may merit upscaleing of current artisanal mining to significantly larger conventional underground mining operations;
(c) That the breccias mapped at surface by Kinross are present at depth and carry significant levels of gold;
(d) That these breccias have the potential, as illustrated by breccias in similar geological settings, to be profitably mined by bulk open pit or underground methods;
(e) That detailed sampling and mapping of all underground workings on the property should be undertaken in preparation for a diamond drilling program targeting both high grade vein gold/silver mineralisation and lower grade disseminated gold mineralisation.
Table 1 below lists the results received by Astorius from the ALS Chemex laboratory in Vancouver for the eleven samples collected in December, together with the coordinates of the locations at which they were collected, the mass of sample submitted for analysis, and brief descriptions of the samples. A map showing the sampled locations has been published on the companys website (Figure 1 below). Photographs of samples EC01 and EC08 are also on the website. Gold levels above 1 g/t were determined gravimetrically (ALS method Au-GRA22), and below 1 g/t by ICP (method Au-ICP22). Silver levels above 100 g/t were determined by method Ag-OG62 (ICP finish for ore grades). All other levels reported were determined by the ME-ICP61 method (four acid digestion, ICP finish).
Astorius 229 hectare Osos 1 mining concession lies within the El Oro province of southern Ecuador, 35 kilometers south-southeast of the port city of Machala and 10 kilometers southwest of Lumina Golds Cangrejos Project. No drilling has to date taken place on the property. Access to the property is by paved and gravel roads.
http://www.irw-press.at/prcom/images/messages/2017/39250/pr032117PRcom.001.jpeg
Figure 1: Underground sample locations on the Osos 1 concession (December 2016 sampling by Astorius Resources Ltd).
SampEastNorth MasAu Ag Cu As Zn Pb Fe S Descript
le ing ing s ion
Numb Kg g/t g/yppmppm ppm ppm% %
er
EC01627296066 3.425.0304376>100127064923.>10Ore
13 07 8 0 .0 0 00 0 0 1 .0 pile
sample
(quartz
/sulphid
e
vein)
EC02627296066es0.90.071.584 318 50 39 2.51.3Wallrock
98 22 t 0 9 to
vein
(50cm
from
margin)
EC03627396066es1.60.480.888 461 406 13 1.81.1Breccia
19 45 t 4 9
EC04626696064es1.20.311.510518 123 16 10.4.0Pyrrhoti
30 70 t 6 0 5 5 te-rich
rock
EC05626596064es1.10.04<0.11414 29 5 3.20.5Metamorp
40 80 t 0 5 0 hic
rock
EC06626496065es1.40.460.6105860 21 20 2.60.0Breccia
60 10 t 0 9
EC07626096063es0.70.051.345 249 7 4 3.00.2Breccia
70 60 t 6 1
EC08625996063 0.4252.83.957>10040 17533.0.1Ore
40 80 4 00 0 00 5 9 3 pile
sample
(oxide
ore)
EC09625996063 0.90.432.061917708 30 3.10.1Stockwor
40 80 2 6 k
sample
from
waste
pile
EC10625996063es1.10.06<0.53 39 13 4 1.90.0Metamorp
90 60 t 2 5 1 hic
(bleach
ed
qtzite)
rock
EC12626496065es1.20.51<0.108295022 16 1.40.2Breccia
60 10 t 2 5 0
Note(1) "est" indicates that coordinates are estimated
s: by pacing undergroud from portal entrance. Depth not
estimated.
(2) Samples EC01, EC02 and EC03, though collected
just outside the concession boundary, are
representative of veining and workings extending
north-east into the Osos 1
concession.
Table 1: Underground samples from the Osos 1 concession.
Clinton Smyth, MSc, PGeo., Astorius adviser, is the qualified person as defined by National Instrument 43-101 who reviewed the preparation of the technical data in this news release.
On Behalf of the Board
Arthur Brown
CEO
For further information please contact:
Arthur Brown, CEO (604) 662-7902
art.astoriusresources(at)gmail.com
www.astoriusresources.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the exploration results on the Osos 1 mining concession.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
Leseranfragen:
" alt="Cruz Cobalt Closes Montana Cobalt ProjectDatum: 21.03.2017 - 08:31 Uhr
Sprache: Deutsch
News-ID 531347
Anzahl Zeichen: 8831
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 246 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Astorius Resources Ltd. reports high grade gold and silver samples from its Osos 1 mining concession in Ecuador
"
steht unter der journalistisch-redaktionellen Verantwortung von
Astorius Resources Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
