Astorius Provides Exploration Update on Mineral Projects
304-700 W. Pender Street, Vancouver, BC V6C 1G8
Tel: (604) 602-7902 Fax: (604) 602-1652
http://www.astoriusresources.com
Astorius Provides Exploration Update on Mineral Projects
Vancouver, BC, February 15, 2017-Astorius Resources Ltd. (TSXV:ASQ)(Frankfurt:47A.F)(“Astorius”)
provided the following update on its mineral projects.
Osos 1 Gold Project
Progress continues on our 231 hectare Osos 1 gold property in Ecuador. Thirteen rock samples were
collected by the company’s consultants from underground workings on the Osos 1 property in
December and have been sent to ALS Labs in Vancouver for gold and pathfinder element analysis.
Once analytical results have been received a selection of these samples will be subjec ted to
petrological examination to characterize the alteration and intrusive rocks associated with gold
mineralisation on the property.
The Osos 1 property is located in southwestern Ecuador, ten kilometers south -west of Lumina Gold
Corp’s Cangrejos Project. Lumina announced a 4 million ounce gold resource on this project in
January of this year. Astorius believes that gold mineralisation observed by its consu ltants on the
Osos 1 property is associated with geological structures related to structures associated with the
Cangrejos deposit, and is potentially of the same age as Cangrejos mineralisation. While such
observations are not indicative of economic deposits on the company’s property, they are of
considerable value to the effective exploration of the property.
Condor Project
Astorius’ Condor Property comprises a single 243 hectare claim approximately 2.5 kil ometers east of
Lundin Gold Inc ’s Fruta del Nort e gold mine. Previous exploration at Condor has established the
presence of extensive alluvial gold on the property, as well as anomalous gold and pathfinder
elements in soils suggestive of the presence of hard-rock gold mineralisation on the property.
In December 2016 Astorius carried out a drone-based orthophotographic survey of parts of the
property previously subjected to placer mining, as well as the part of the property showing the most
promising gold- in-soil anomaly. The latter anomaly may be a sou thern extension of the “El Tigre”
gold target which lies within Lundin Mining’s Fruta del Norte property, 700 meters north of the
Condor property boundary.
The new Condor orthophotographs are being used to evaluate various placer mining scenarios and to
establish possible directions of movement of gold and pathfinder elements in the soil.
Rainbow Canyon Gold Project
Astorius is presently applying for drill permits on the Rainbow Canyon gold property in Nevada. The
exploration slated to begin this month has been delayed due to heavier than usual rain and snow in
the region.
The Rainbow Canyon property comprises 28 unpatented lode mining claims that cover an area of
214 hectares in the Olinghouse mining district about 40 kilometres east of Reno in Washoe county,
Nevada. Geologically, Rainbow Canyon is a low -sulphidation gold prospect located in the northern
Walker Lane structural and metallogenic domain. Andesites, basalts and rhyolites of the Miocene Alta
304-700 W. Pender Street, Vancouver, BC V6C 1G8
Tel: (604) 602-7902 Fax: (604) 602-1652
http://www.astoriusresources.com
and Old Gregory formation underlie most of the property. Forty kilometres to the southwest of
Rainbow Canyon the Alta formation is also host to the world- renowned Comstock mine (1), a low -
sulphidation lode deposit which produced 8.4 million ounces gold (2).
Gold mineralization on the property was describe d in detail in the company’s 8 February, 2017, news
release.
Astorius plans to explore the Rainbow Canyon property for both lower -grade open -pittable gold
mineralization, as is currently being mined at Comstock, and for high -grade gold amenable to
underground mining, as was historically mined at Comstock. To this end, permitting arrangements
have been initiated to drill six to 10 inclined reverse circulation boreholes, each to an approximate
depth of 100 m, to test the width and tenor of gold mineralization within the structural zones
believed to control the distribution of mineralized alteration and gold- bearing quartz veins present
at surface.
(1) D.A. John, L.J. Garside, A.R. Wallace, "Magmatic and Tectonic Setting of Late Cenozoic Epithermal Gold -Silver
Deposits in Northern Nevada," with an emphasis on the Pah Rah and Virginia ranges and the Northern Nevada rift
in J.A. Kizis Jr., 1999, "Low Sulfidation Gold deposits in Northern Nevada," Geol Soc. Nev. Spec Publ. No. 29, pages 65
to 168.
(2) This news release contains information about geologically related properties on which Astorius has no right to
explore or mine. Readers are cautioned that mineral deposits on geologically related properties are not indicative
of mineral deposits on the company's properties.
Chairman of the Astorius board, Sandy Macdougal commented “All three of our projects have started
the year strongly, and we look forward to providing our shareholders with regular updates on
progress made on each property.”
Qualified person
Clinton Smyth, MSc, PGeo, the company's adviser, is the qualified person as defined by National
Instrument 43-101 who reviewed the preparation of the technical data in this news release.
On Behalf of the Board
Arthur Brown
CEO
For further information please contact:
Arthur Brown, CEO (604) 662-7902
www.astoriusresources.com
304-700 W. Pender Street, Vancouver, BC V6C 1G8
Tel: (604) 602-7902 Fax: (604) 602-1652
http://www.astoriusresources.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Vent ure
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 our mineral properties.
Actual results could differ from those projected in any forward -looking statements due to numerous factors. Such factors include,
among others, the inherent uncertainties 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.