Astral Announces Initial Resource Estimate at Jumping Josephine
11 May 2011 - 11:00PM
Marketwired
Astral Mining Corporation (TSX VENTURE: AA)(TSX VENTURE:
AA.WT)(PINK SHEETS: AAMJF)(FRANKFURT: A7DA) ("Astral" or "the
Company") and joint venture partners Kootenay Gold Inc. (TSX
VENTURE: KTN) (JV 60% Astral, 40% Kootenay) are pleased to announce
completion of an initial resource estimate for the JJ Main
discovery zone at the Jumping Josephine Gold Project, Southern
British Columbia.
Apex Geoscience Ltd of Edmonton, Alberta performed the resource
estimate calculation to determine the size of the gold resource at
the JJ Main Discovery Zone that could be potentially extracted. The
estimate comprises Indicated mineral resources of 363,000 tonnes
averaging 2.95 g/t gold containing 34,000 oz Au and Inferred
mineral resources of 448,000 tonnes averaging 2.08 g/t gold
containing 30,000 oz Au, presented in the table below.
----------------------------------------------------------------------------
Tonnage Grade Gold Content
Classification (tonnes) (g/t) (oz.)
----------------------------------------------------------------------------
Measured - - -
----------------------------------------------------------------------------
Indicated 363,000 2.95 34,000
----------------------------------------------------------------------------
Total Measured + Indicated 363,000 2.95 34,000
----------------------------------------------------------------------------
Inferred 448,000 2.08 30,000
----------------------------------------------------------------------------
Astral is pleased with the results of the initial resource
calculation and is currently planning further work to advance the
project during 2011.
Mike Dufresne (P.Geol), Andrew Turner (P. Geol) and Steve
Nicholls (M AIG) of APEX Geoscience are the Independent Qualified
Persons, as defined by NI 43-101, responsible for the mineral
resource estimate. The current resource estimate is the first to be
completed for the JJ deposit, which with drilling and trenching may
now be considered to be an advanced exploration project. The
resource is classified as an Indicated and Inferred mineral
resource, consistent with the CIM definitions referred to in NI
43-101. The effective date of the mineral resource is March 24th,
2011. The mineral resource estimate is derived from a total of 71
diamond drill holes, the average spacing of which is 20 to 40
metres within the area of interest. A total of 564 composites of 1m
length, capped at 30.0g/t Au were used for the estimation. The
mineral resource was estimated by inverse distance squared within a
3 dimensional mineralization envelope, defined by similar
geological characteristics in terms of alteration and mineralogy,
using a 0.5g/t Au cut-off grade. A search ellipsoid of 30m x 30m x
4m orientated along strike (350 degrees) was utilized for grade
interpolation into 20m x 2m x 10m blocks. Block grades estimated
from samples with an average distance of 15 to 40m away were
classified as indicated, and with an average distance of 20 to 80m
away were classified as inferred. A nominal density of 2.65g/cm3
has been applied to all blocks. The technical report on the Jumping
Josephine Property in southern British Columbia will be filed
within 45 days of this release.
The JJ Main prospect comprises a structurally controlled
gold-bearing quartz stockwork vein system. To date, mineralization
has been modeled along a strike length of some 400m and to a depth
of 250m from surface. The zone averages 4-5m in width and the
structure hosting mineralization remains open at depth.
Preliminary metallurgical testwork on 100kg of sample from the
JJ Main resource area was completed by G&T Metallurgical
Services Ltd of Kamloops, British Columbia in 2009 (see February
2010 news release). This work included first-pass flotation,
gravity concentration and cyanide leach tests on low, medium and
high grade material. Flotation tests averaged 98% gold recovery,
combined gravity and leach tests averaged 94% gold recovery and
whole ore leach tests averaged 86% gold recovery with the medium
and high grade leach composites averaging 97% recovery. The
metallurgical report can be viewed on Astral's website by following
the link:
http://www.astralmining.com/i/pdf/Met_Report_KM2397.pdf.
The resource estimate reported in this press release was made by
Mike Dufresne (P.Geol), Andrew Turner (P. Geol) and Steve Nicholls
(M AIG) of APEX Geoscience, all qualified people as defined by
National Instrument 43-101. Mr. Turner has reviewed and verified
the contents of this release. Consultants for Apex Geoscience are
independent advisers to the company. An NI 43-101-compliant
technical report will be filed with SEDAR within 45 days of this
press release.
Astral Mining Corporation is a Canadian company engaged in the
exploration and development of precious metal properties in the
Americas. 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, the promising early stage Los Crestones gold-silver
project in Sinaloa state, Mexico, 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.
ON BEHALF OF THE BOARD
Mr. Manfred Kurschner, President & CEO, Astral Mining
Corporation
For further information on Astral please visit the Company's web
site at http://www.astralmining.com.
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 09
Shares outstanding - 21,685,400
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this
release.
Contacts: Astral Mining Corporation Manfred Kurschner President
& CEO 604-641-1315 info@astralmining.com
www.astralmining.com
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