Astra Exploration drills 1.4 metres of 35.3 g/t gold and 8,356 g/t silver at La Manchuria Project, Santa Cruz, Argentina

Astra Exploration Inc. [TSXV: ASTR; OTCQB: ATEPF; FSE: S3I] reported initial results of the company’s maiden drill program at the La Manchuria Project, located in the prolific Deseado Massif of Santa Cruz, Argentina.

Highlights: LM-108A: 4.4m grading 11.8 g/t gold and 2,781 g/t silver (39.6g/t AuEq), including 1.4m grading 35.3 g/t gold and 8,356 g/t silver (118.9g/t AuEq).

LM-109: 2.5m grading 5.52g/t gold and 25g/t silver (5.77g/t AuEq). LM-105: 2.0m grading 6.56g/t gold and 489g/t silver (11.74g/t AuEq). Confirmed extension of key mineralized structures.

Results are open to depth and along strike. Additional assay results expected to be received this month. Estimated true widths are 85% of widths reported in this news release.

Brian Miller, CEO, commented: “These first results are an impressive start to Astra’s drilling at La Manchuria. Our drilling to date has been successful in intersecting new quartz vein structures outside the limits of past drilling, thus confirming our geologic model and interpretation.

“When we optioned the project last year, a shallow resource was already defined. Our team of experts interpreted the high-grade veins to have potential for extension along strike and at depth; further, that there are more veins in a larger vein field than has been drilled previously.

“The initial results have proved both to be true, with bonanza grade gold and silver intercepts that are open to depth in LMD-108A and hole LMD-105 hitting three new veins approximately 150m to the southwest of previous drilling. More results from further step-outs in June are pending, notably including overlimit assays from hole 107A which confirmed continuity of important southeast striking structures underneath the post-mineral breccia unit. We have adequate funds and are already planning for an additional round of drilling to follow up these results.”

Astra’s Phase I drill program at La Manchuria consists of 11 diamond drill holes (DDH), totaling 2,468 m, designed to test four different zones of the Manchuria hill. Today’s results are from the initial deeper drilling in the main zone and step-out vein targets to the southwest. Assays for four holes are reported in today’s release and the remaining seven holes have assay results pending.

Drilling by previous operators has focused on shallow drilling and defined a small historic open pit resource. A detailed review of these veins by Astra Exploration geologists suggested these had the potential to be open at depth, along strike and for the broader vein field to be larger than the current drilled footprint.

Drilling by Astra at La Manchuria commenced at hole number LMD-105 to follow the naming convention used by previous operators.

Drill hole LMD-105 was designed to explore for new veins southwest of the Main Zone. The hole successfully intersected a group of three previously unknown veins, all of which returned shallow, high-grade mineralized intervals. These zones remain open at depth, indicating strong potential for further exploration: 2 m with 11.74 grams per tonne (g/t) AuEq (Gold Equivalent) at 6.4 m depth in a blind vein that was not mapped previously; 0.5 m with 16.36 g/t AuEq at 44 m depth, vein represented at surface with anomalous silver channel samples on quartz veinlets; 0.5 m with 8.48 g/t AuEq at 105.5 m depth, vein represented at surface with a historical trench reporting 3.2 g/t Au and 88 g/t Ag in a 10 m interval.

Drill holes LMD-106 intersected veining but returned no significant results.

Drill holes LMD-108A and LMD-109 were designed to test a portion of the Main Zone at depth. In addition to successfully intersecting the targeted zone, both holes also encountered new, parallel vein systems located to the east. Notably, all identified veins remain open at depth and at the right lithology (rhyolitic tuffs), highlighting strong potential for further mineralization.

Drill hole LMD-108A returned one of the highest-grade intercepts to date on the project, with 4.4 m grading 44.6 g/t AuEq at a downhole depth of 124.6 m. This high-grade interval includes a 1.4 m wide quartz-sulfide vein containing bonanza grades of 35.3 g/t Au and 8,356 g/t Ag (118.9 g/t AuEq). This vein is located just 100 m below surface and has been named the Argentum vein. Importantly, this hole shows that the Argentum vein is not isolated-another quartz-sulfide vein, 1 m thick and grading 10.28 g/t AuEq, was intercepted at 167 m downhole depth, and several smaller veins and veinlets reported anomalous precious metals.

Drill hole LMD-109 extended mineralization east of the Main Zone, identifying a series of new, parallel veins and veinlets. At least four distinct mineralized structures were defined in this area, with two high-grade intervals standing out: 4 m with 4.55g/t AuEq at 154 m downhole depth and 2.5 m with 5.77g/t AuEq at 161.5 m downhole depth.

Assay results remain outstanding for seven holes from the Phase I program. They target an extension to the southeast of the Main Zone beneath post mineral cover and step-outs to the northwest and southeast of the Main Zone.

The company is currently making plans to quickly follow up with a Phase II drill program. Astra has approximately $2 million in its treasury and is funded to restart drilling at La Manchuria.

The La Manchuria gold-silver project in Santa Cruz, Argentina, over which Astra has an option to acquire 90% interest, is a high-grade gold and silver low sulphidation epithermal (LSE) deposit located in the prolific Deseado Massif which hosts multiple world-class LSE precious metals deposits including Cerro Vanguardia and Cerro Negro, Santa Cruz, Argentina.

The 100% owned Pampa Paciencia gold and silver project in northern Chile is located in the Paleocene mineral province in proximity to such major operating mines as Spence and Sierra Gorda. The project shares several important geological similarities to other Paleocene LSE gold-silver deposits including Faride and El Pe├▒├│n.

The 100% owned Cerro Bayo project in northern Chile is located in the Maricunga belt approximately 20 km from the Refugio Mine. The project hosts a high sulphidation epithermal (HSE) +/- porphyry gold system with similarities to the Salares Norte deposit to the north in the same belt. The Maricunga belt is one of the most endowed regions in the world for gold and copper deposits.