Astorius drills 9.14 meters at 3.69 grams per ton gold during first ever drilling at Rainbow
Astorius drills 9.14 meters at 3.69 grams per ton gold during first ever drilling at Rainbow
Canyon, Nevada
Vancouver BC, July 6, 2017, Astorius Resources Ltd. (TSX VENTURE: ASQ) ("Astorius" or the "Company")
is pleased to announce that it has received encouraging results from an initial six hole RC program at the
north-eastern end of its Rainbow Canyon gold property in Nevada – the first known drilling ever to have
taken place on the property. Highlights of the drilling results are:
• Borehole RCR -03 in tersected 1.52 meters grading 19.65g/t gold from 100.58m to 102.11m,
within an intersection of 9.14m at 3.69g/t Au;
• Borehole RCR-03 is on the margin of a magnetic low, previously interpreted to be an alteration
zone, now a significant target for further drilling;
• Gold mineralisation appears to be structurally controlled, and is present within a number of rock
units on the property, apparently in a number of sub-parallel corridors running NE/SW;
• This is the first known drilling on the property, which has tes ted only 400 meters of 3,000
meters of strike over which surface mineralisation has been observed.
Rainbow Canyon is a 417 hectare low -sulfidation gold prospect located in the northern Walker Lane
structural and metallogenic domain. Andesites, basalts and rhyolites of the Miocene Alta and Old
Gregory Formation underlie most of the property. Forty kilometers to the southwest of Rainbow Canyon
the Alta Formation is also host to the world -renowned Comstock Mine, a low sulfidation lode deposit
which produced 8 .4 million ounces gold. Eight kilometers to the north -west of Rainbow Canyon the
Olinghouse gold deposit has reported a non -43-101-compliant resource of slightly over one million
ounces of gold (Wilson et al, 1999).
A total of six holes were drilled for a total of 2,780 feet (847m). Five holes targeted a NE trending
corridor of gold -mineralised quartz veins dipping to the SE, and one hole targeted a second smaller
corridor SE of the main mineralised corridor. Table 1 below lists location and drilling resu lts for each
borehole, and Figure 1 below shows the collar locations of holes drilled. Borehole logging results and
downhole profiles for a number of elements in hole RCR-03 are shown in Figure 3.
Table 1: Drill hole details and summary drilling results.
Hole ID East North Azim Incl. TD (m) From (m) To (m) Width (m)* Au (ppm) Comment
RCR-01 297,254 4,387,441 337 -55 115.8 67.06 102.11 35.05 Trace Enhanced As, S, Sb; V Minor Qtz veins;
RCR-02 297,460 4,387,509 325 -55 121.9 70.10 102.11 32.00 Trace Enhanced As, S, Sb; Minor Qtz veins; py
RCR-03 297,627 4,387,625 335 -55 164.6 100.58 109.73 9.14 3.69 Enhanced As, S, Sb, Qtz veins & pyrite
including 100.58 103.63 3.05 10.81
including 100.58 102.11 1.52 19.65
RCR-04 297,663 4,387,380 320 -60 164.6 146.30 161.54 15.24 0.12 Enhanced As, S, Sb; V Minor Qtz veins
including 146.30 149.35 3.05 0.44
RCR-05 297,253 4,387,440 315 -45 91.4 62.48 70.10 7.62 0.16 Enhanced As, Sb; V Minor Qtz veins
including 62.48 64.01 1.52 0.69
RCR-06 297,461 4,387,506 280 -70 189.0 60.96 89.92 28.96 Trace Enhanced As, Ag, Sb; Qtz veins & pyrite
UTM NAD 83
* Widths are down-hole; true widths may be less.
The RCR-03 profiles in Figure 2 illustrate the correlation of gold with enhanced arsenic, sulphur, silver
and antimony, as well as with pyrite and quartz vein material observed in the drill chips. Mercury is also
anomalous in th e mineralised zone. These are expected associations within low sulphidation gold
mineralisation, and were observed in the other holes drilled within the intervals indicated in Table 1.
Figure 1: Drill collar locations on the Rainbow Canyon property.
RCR-03 is an isolated hole on the south -western margin of a 400m by 200m magnetic low, which, prior
to drilling, was interpreted to be the result of alteration (Figure 3). The high -grade intersection it has
yielded now calls for additional drilling both below and to the north and north-east of RCR-03.
All samples were prepared from drill cuttings processed through a rotary splitter on site . Split drill
cutting samples were sent to American Assay Laboratories in Reno, Nevada , for total gold and multi -
element analyses. Standar ds, blanks, and duplicates were included at regular intervals in each sample
batch as part of Astorius’ quality control program.
These results enhance our understanding of the basic geometry of the gold -mineralizing system at
Rainbow Canyon, and give us confidence that the system extends to depth.
Astorius is now planning a follow-up program comprising the following:
(a) Step-out drilling around borehole RCR-03, in particular to test the interpreted low magnetisation
alteration zone;
(b) Extending surface structural and lithology mapping from the north-east of the property (partially
mapped in detail) to the surface mineralisation in the south west (never mapped in detail);
(c) Conducting a concurrent soil geoche mical sampling program over the south -western two thirds
of the property to detect mineralisation covered by soil – these latter two programs focused on
identifying drill targets in higher-tenor mineralised dilation zones.
The technical information within this news release has been reviewed and approved by Clinton Smyth,
P. Geo, and Astorius’ Qualified Person as defined in NI 43 -101. The drilling program reported in this
news release was carried out under the direction of Mr. Smyth.
Figure 2: Downhole profiles and logging results for borehole RCR-03.
Figure 3: Borehole locations with respect to a magnetic low north of RCR-03.
For further information please contact:
Arthur Brown, CEO (604) 662-7902
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 drilling on the Rainbow Canyon Property.
Actual results could differ from those projected in any forward- looking statements due to numerous factors. Such factors
include, among others, the inherent unc ertainties 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.