Featuring: publicly traded & venture capital companies on the U.S. (NYSE, NASDAQ, AMEX & OTC: BB) and Canadian (TSX & TSX-V) stock exchanges, Investment & Money Management Ideas.

Press Release - Astral Mining Corporation (AA-TSXV)

Currently we have three projects in North America. We try to explore in countries that are politically stable, and we concentrate on areas that have infrastructure close by. I believe that really enhances any potential discovery in terms of commercializing it, so that is a very important factor. - Manfred Kurschner (AA) (Interview published March 18, 2011)

The Most Powerful Name In Corporate News and Information.

CURRENT ISSUE  |  COVER ARCHIVES  |   INDEX   |  CONTACT  |  FINANCIALS  |  MARKETING SERVICES   |   HOME PAGE


CEOCFO
-
Members Login

Become A Member!



 

Thu May 26, 2011
Astral Drills 1.2m averaging 3.39 g/t Gold and 284 g/t Silver at the New Cedar Zone, Jumping Josephine Gold Project

Shares outstanding - 21,685,400

Vancouver, BC - Astral Mining Corporation (TSX-V AA, AA.WT) ("Astral" or "the Company") and Kootenay Gold Inc (TSX-V KTN) ("Kootenay") are pleased to report they have received final assay results from a late fall 2010 drill program comprising 518m in 5 holes aimed at evaluation of the Cedar Zone, a newly-discovered mineralized zone located 250m west of the JJ Main Gold Deposit, a focus of work on the project over the past 5 years for which the Company recently published an initial resource estimate (see May 11, 2011 News Release).

The new results indicate a significant silver component to the mineralization, more consistent than those returned from significant hits at JJ Main. Additional drilling is warranted to test the continuity of the zone along structural trends and to test for wider mineralized shoots of high-grade silver gold mineralization.
 

Table 1: Analytical Highlights from December 2010 Cedar Drilling Program

 
Hole ID From (m) To (m) Interval Au (g/t) Ag (g/t)
10JD136 5.0 8.1 3.1 2.26 41.6
10JD137 5.0 7.0 2.0 1.98 71.0
Including 6.0 7.0 1.0 3.17 138.0
and 12.0 13.2 1.2 3.39 284.0
and 32.5 34.0 1.5 2.89 4.8
10JD138 NSI        
10JD139 36.4 37.0 0.6 2.35 2.0
10JD140 NSI        
*NSI = No Siginificant Intervals

The Cedar Gold-Silver Zone, which does not outcrop at surface, was initially targeted by Astral using soil geochemistry and aeromagnetic interpretation. Previously reported results from the Cedar Zone include 0.5m averaging 2.90g/t gold from 10JD117 and 1.73m averaging 1.60g/t gold from 10JD118 from arsenopyrite/pyrite mineralized quartz stockwork and vein breccias (see November 4th 2010 News Release). To date a total of 11 holes have been drilled at the Cedar Zone and stockwork quartz veining was encountered in holes over a strike length of 140m to a depth of 60m. Astral believes this structurally controlled mineralization is genetically related to that seen at the JJ Main deposit some 250m to the east and demonstrates the potential for additional discoveries in the area. Table 1 (above) provides analytical highlights for the new results and a map of the hole locations and assay highlights can be found at the following link; http://www.astralmining.com/s/JumpingJosephineMaps.asp.

All samples taken during 2010 exploration program are submitted to Eco Tech Laboratory Ltd, Kamloops. Routine drill and rock analyses are run for a 30 gram fire assay for gold and multielement package, aqua-regia digest and ICPOES finish. Any drill core intersecting mineralized quartz stockwork may contain coarse gold and as such is run for 1000 gram metallic screen fire assay rather than standard fire assay for gold. Silver overlimits were re-assayed using Ecotech Base Metal Ag assay (method code BM2/A). Astral incorporates its own standards and blanks in the sample sequence as part of ongoing QA/QC control. Technical details contained in this news release have been reviewed by Dale Brittliffe, P.Geo., a Qualified Person as defined in National Instrument 43-101 and Astral's Exploration Manager.

Astral Mining Corporation is a Canadian company engaged in the exploration and development of precious metal properties in North America. By focusing on exploration in mining-friendly districts, the Company minimizes the political and social risks encountered in many other parts of the world. With a new gold discovery at the Company's Jumping Josephine Gold Project in Southern British Columbia and an experienced technical team and seasoned management, Astral is poised to leverage this expertise into early exploration success. Further details on Astral Mining Corporation and its high-quality portfolio of exploration projects can be found at www.astralmining.com.

Kootenay is an emerging exploration Company actively developing several mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Numerous joint-venture partnerships maximize the potential for new discoveries. The Company's top priority remains the ongoing development of its Promontorio Silver project in Sonora State, northwest Mexico, which encompasses the former producing Promontorio Silver Mine. Further details on Kootenay Gold and its portfolio of exploration projects can be found at www.kootenaygold.ca.


ON BEHALF OF THE BOARD

Manfred Kurschner"


Mr. Manfred Kurschner, President & CEO

Astral Mining Corporation

For further information on Astral please contact Manfred Kurschner, President & CEO, at 604-641-1315, or by email info@astralmining.com, or visit the Company's web site at http://www.astralmining.com.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
2011 Number 10
   

You can view the Previous News Releases item: Wed May 11, 2011, Astral Announces Initial Resource Estimate at Jumping Josephine

You can return to the main News Releases page, or press the Back button on your browser.

 




    

ceocfointerviews.com does not purchase or make
recommendation on stocks based on the interviews published.