Astra Increases Float Vein Field, Extends Main Discovery Vein and Samples 12.6 G/T GOLD Equivalent Along Strike at Pampa Paciencia, Chile
ASTRA EXPLORATION INC. (TSX-V: ASTR)
NEWS RELEASE
ASTRA INCREASES FLOAT VEIN FIELD, EXTENDS MAIN DISCOVERY VEIN AND SAMPLES
12.6 G/T GOLD EQUIVALENT ALONG STRIKE AT PAMPA PACIENCIA, CHILE
Vancouver, British Columbia – February 17, 2022 – Astra Exploration Inc. (TSX-V: ASTR) (“Astra” or
the “Company”) is pleased to provide an exploration update on Pampa Paciencia , its flagship gold-
silver project in northern Chile (Figure 3).
Highlights
• Identification of three quartz vein float sample fields totaling 8.5 km with new zones identified
in the west of the property under thin cover
• Surface float samples up to 12.6 grams per tonne (g/t) gold equivalent (AuEq) 3 km northwest
along strike with the Main Paciencia Vein in the North Zone
• Systematic trenching over the first drill target planned on the Paciencia Vein defines vein and
breccia structure of 600 meters in length and up to 22 meters thick. These assay results are
expected in late February
• Drilling program to commence in late February
Astra’s Exploration CEO, Brian Miller commented: “Astra is moving very quickly at Pampa Paciencia
ahead of the Company’s maiden drill program. Today’s results reveal the Pampa Paciencia vein field
potential is much larger with newly identified high -grade zones and many new drill targets defined.
Trenching along the Paciencia Vein shows a wide vein and breccia structure extends 600 meters
long where trench assays are expected shortly. Astra is fully funded for this program, has a very tight
share structure and is excited to be unlocking the potential within our Chilean gold portfolio.”
Exploration Program Discussion
Pampa Paciencia is a 3,840 ha road-access low-sulphidation epithermal (LSE) gold -silver project
located within an active mining district less than 15 kilometers from two major mines (Sierra Gorda
and Spence) and five kilometers from the Faride LSE mine.
The current exploration program has combined property-wide mapping and sampling, geophysical
surveys, and localized trenching with the dual aims of defining a larger district and identifying the
highest priority initial drill targets. Work to date indicates the presence of a large LSE system beneath
a shallow cover of caliche and alluvial sediments.
Mapping and Sampling
Large areas of the property are beneath thin cover. By mapping quartz vein float samples (larger
than 25 centimeters in diameter) Astra’s geologists are able to connect -the-dots with the help of
geophysics to target “blind” mineralization in veins below the shallow cover. Some of these vein floats
returned high-grade precious metals (up to 11.35 g/t Au and 152 g/t Ag), significantly extending the
prospective area to the west (Figure 1). For context, Astra’s work has expanded mineralized float
anomalies well-beyond the previously known surface anomalies circled in blue (Figure 1).
Figure 1: Surface geochemistry including LSE vein floats >25 cm found in covered areas. Three NW -SE
trends were defined. Best float results are highlighted in the map (Au in red-Ag in blue, both in ppm).
Three main NW-SE trends are defined with these surface float anomalies: the North Zone (includes
the North Zone and its extension west), the Central and South Zones (includes Central and South
Zones and its extension west) and the Impaciencia (the same trend that extends to the past producing
Faride mine five kilometers southeast).
The best gold grades were concentrated in the North Zone belt, with relatively low silver-to-gold ratio
(< 20). The Central and South Zone belts contained moderate gold equivalent grades of 1 to 2 ppm
with an intermediate silver -to-gold ratio (5 to 169). The moderation of grade coincides with the
observed shallower quartz vein textures which could indicate preserved higher grades below. The
Impaciencia belt revealed a high silver-to-gold ratio (>700). Silver and base metals are concentrated
in this southernmost belt, coinciding with the Faride vein system located to the southeast.
Geophysics
640 kilometers of ground magnetic surveying reveals large magnetic lows interpreted as
hydrothermal alteration related to the vein system . Linear magnetic lows are also common that are
likely to be veins beneath the thin cover exploiting fractures in the host geology. Linear magnetic low
features have coincided well with confirmed vein structure s and should prove a very useful tool for
targeting additional structures. The main structural orientations are NW-SE, E-W and NE-SW, similar
to those found in the Faride LSE mine.
Figure 2: Trenches in the North Zone over magnetics. Black traces represent trenches and holes from
previous exploration. Trenches from this program are represented with white traces.
Trenching
Trenching focused on confirming the strike continuity of the Paciencia Vein in the North Zone. This
area will be the Company’s first drill target to follow-up open intercepts in historical drilling including
hole PP15-007 which returned 7.71 grams per ton gold and 46.6 grams per ton silver over 3.75m
approximately 80 meters below surface.
Thirteen trenches have been completed at the North Zone (Figure 2) expanding outward from
historical trenches along an interpreted extension of the vein identified in the magnetic survey .
Systematic trenching every 5 0 meters at the Paciencia Vein has defined WNW-ESE structures of
hydrothermal breccias and parallel quartz veins up to 22 meters thick totaling 600 m strike length.
250 samples were taken from the trenches and sent to ALS labs in Santiago for assay. The Company
expects to receive those results later in February and will include them in a detailed map of the
trenching program.
Figure 3: Location of the Pampa Paciencia flagship project in the Paleocene Belt.
Sampling Procedures
Float samples were sampled, bagged, and tagged by Astra´s geologists and then delivered to the
ALS sample preparation laboratory in Santiago. Samples were prepared with PREP 31B code, and
then analyzed with fire assay for gold (Au-AA24) and multi elements by ICP (ME-ICP61).
Qualified Person Statement
The technical data and information as disclosed in this report has been reviewed and approved by
Darcy Marud. Mr. Marud is a Practicing Member of the Association of Professional Geoscientists of
Ontario and is a qualified person as defined under the terms of National Instrument 43 -101
– Standards of Disclosure for Mineral Projects.
Stock Option Grant, Market Making Services and Marketing Commitments
In accordance with its stock option plan, the Company has granted to directors, officers, employees,
and consultants of the Company a total of 1,585,000 stock options (“Options”) exercisable at a price
of $0.35 each for a period of 5 years from the date of grant. The Options will vest according to the
schedule: 1/3 immediately, 1/3 at 18 months, and 1/3 at 36 months. The Options are subject to TSX
Venture Exchange (“TSXV”) policies and regulations.
The Company has engaged Integral Wealth Securities Limited (“Integral”) to provide market making
services in accordance with Policy 3.4 – Investor Relations, Promotional and Market Making Activities
(“Policy 3.4”) of the Exchange and will pay a cash-only remuneration of $5,500 per month for three
months. Integral is a full-service securities dealer engaged in wealth management, market making,
and investment banking with offices in Toronto, Ottawa, Calgary, Vancouver, Kitchener -Waterloo,
Burlington, Sydney and Nanaimo . Integral’s services with regards to the Company and its traded
shares will be to maintain an orderly market, enhance liquidity, and provide market intelligence .
Integral and the Company are unrelated and unaffiliated entities and, as of the date hereof, neither
Integral nor any of its principals have an interest, directly or indirectly, in the securities of the
Company.
The Company has also engaged KE Report to provide the Company with web content and radio
content services in accordance with Policy 3.4. The Company will pay KE Report cash-only
remuneration of $12,000 for 6 months . KE Report and the Compan y are unrelated and unaffiliated
entities. As of the date hereof, a principal at KE Report beneficially owns securities of the Company.
Investment Pitch Media has also been engaged by the Company to produce five video news releases.
Investment Pitch Media will be paid cash-only remuneration of $7,100 for the production of such
videos. Investment Pitch Media and the Company are unrelated an d unaffiliated entities and, as of
the date hereof, neither Integral nor any of its principals have an interest, directly or indirectly, in the
securities of the Company.
The Company will also be presenting at the Global Mining Symposium on February 23, 2022.
About the Company
Astra Exploration Inc. is a n exploration company based out of Vancouver, BC. Astra is engaged in
the acquisition, exploration and development of epithermal gold -silver properties in Chile and is
building a portfolio of high -quality projects. Astra’s current focus is the development o f the Pampa
Paciencia Project.
For further information please contact:
Brian Miller
Chief Executive Officer
Tel. 208.830.0869
Email: [email protected]
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