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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Astron Connect Inc | TSXV:AST | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.005 | 25.00% | 0.025 | 0.02 | 0.025 | 0.025 | 0.025 | 0.025 | 9,000 | 14:30:00 |
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 6, 2014) - Astur Gold Corp. (TSX-VENTURE:AST)(FRANKFURT:CDC) ("Astur Gold" or the "Company") is pleased to announce an updated resource estimate for its 100% owned Salave Gold Project in Northern Spain. The resource estimate has an effective date of January 22, 2014 and was prepared by Mine Development Associates, Inc. ("MDA") in accordance with National Instrument 43-101 ("NI 43-101") Standards for Disclosure of Mineral Properties. Astur Gold is currently completing a Feasibility Study on the Salave Gold Project.
Table 1: Salave Project Gold Resources | ||||||
Cut-off | Measured | Indicated | ||||
g/t | Tonnes | g/t | oz Au | Tonnes | g/t | oz Au |
2.0 | 514,000 | 5.87 | 97,000 | 6,008,000 | 4.39 | 847,000 |
2.5 | 409,000 | 6.81 | 89,000 | 4,338,000 | 5.21 | 727,000 |
3.0 | 338,000 | 7.65 | 83,000 | 3,257,000 | 6.04 | 632,000 |
5.0 | 191,000 | 10.56 | 65,000 | 1,251,000 | 9.68 | 389,000 |
7.0 | 129,000 | 12.78 | 53,000 | 704,000 | 12.66 | 286,000 |
10.0 | 78,000 | 15.67 | 40,000 | 387,000 | 16.22 | 202,000 |
Cut-off | Measured + Indicated | Inferred | ||||
g/t | Tonnes | g/t | oz Au | Tonnes | g/t | oz Au |
2.0 | 6,522,000 | 4.51 | 944,000 | 1,078,000 | 3.05 | 106,000 |
2.5 | 4,747,000 | 5.35 | 816,000 | 631,000 | 3.63 | 74,000 |
3.0 | 3,595,000 | 6.19 | 715,000 | 378,000 | 4.24 | 52,000 |
5.0 | 1,442,000 | 9.80 | 454,000 | 69,000 | 6.89 | 15,000 |
7.0 | 833,000 | 12.68 | 339,000 | 22,000 | 9.30 | 7,000 |
10.0 | 465,000 | 16.13 | 242,000 | 6,000 | 12.69 | 2,000 |
Note: Rounding may cause apparent discrepancies |
Mineral Resources that are not reserves do not have demonstrated economic viability. The quantity and grade of reported inferred resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.
Due to the necessity to maintain a surficial crown pillar in a potential underground operation, all material from the present surface to a depth of 40 meters is not included in the Salave resources. The resource cut-off grade of 2.0 g/t Au was chosen to capture mineralization that is potentially amenable to underground mining, sulfide concentration, and gold recovery using off-site processing. The deposit still remains open to the west for future expansion potential.
"This is the most extensive study done to date on the Salave underground resource, incorporating historic and current drilling, extensive due diligence by independent engineers, high quality QA/QC program, and looking at an underground only mining scenario," stated Cary Pinkowski, Astur Gold's President and CEO. "This is a positive step forward for Astur Gold, as it provides a solid foundation on which to complete our Feasibility Study."
Mineral Resource Parameters and Methods
MDA completed an initial draft of the Salave resource model in mid-December 2013. Subsequent to this, Astur Gold received final assays for a sequence of 10 holes drilled in late 2013, which were primarily drilled internal to the deposit as modeled in 2013. These holes were added to the resource database, and the resource model was then updated in January 2014 to include the new Astur Gold core data. The new holes broadly confirm the modeling of the Salave resources. There were several instances where the new data led to small interpretational changes as to the correlation of one intercept of a shallowly dipping zone with that from an adjacent hole, but the most common changes in these zones were in the interpreted widths of mineralized zones. Of particular interest is one hole that was drilled directly down the axis of the main sub-vertical high-grade domain. The results of this hole were remarkably consistent with the 2013 interpretations.
Astur Gold received a positive environmental impact assessment for an underground mine from the Commission for Environmental Affairs of the Principality of Asturias in November 2012 and recently submitted an Amended Environmental Impact Study on December 18, 2013 for plant, tailings, and water discharge approvals for a simplified flotation plant with no cyanide or autoclave. It is expected that tailings will be managed using a state of the art dry stack tailings system. The public consultation period for the Amended Environmental Impact Study ends on February 6, 2014.
The resource estimation for the Salave Gold Project was completed by Mine Development Associates, Inc. under the supervision of Mr. Neil Prenn, who is a Qualified Person as stipulated by National Instrument 43-101 and is independent of Astur Gold. Mr. Prenn has read and approved the contents of this press release as it pertains to the disclosed mineral resource estimate. A technical report including the updated underground resource estimate will be filed on the SEDAR website at www.sedar.com within 45 days.
ABOUT ASTUR GOLD
Astur Gold is developing its 100% owned Salave Gold Project in Asturias, northern Spain. Salave is one of the largest undeveloped gold deposits in Western Europe. The Company received approval for an underground mine from the Commission for Environmental Affairs of the Principality of Asturias in November 2012. Astur Gold is conducting a Feasibility Study on Salave and intends to commence construction upon its completion and receipt of process plant, tailings, and water discharge approvals. The Company is building a partnership with the people of Asturias to generate sustainable economic benefits for the region while balancing the needs of environmental protection and social community development.
ON BEHALF OF THE BOARD
Cary Pinkowski, Chief Executive Officer, President and Director
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.
Astur Gold Corp.Vadim Dubchak604-694-1600info@asturgold.comwww.asturgold.com
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