- TSX.V: ASQ $0.05
- Frankfurt: 47A.F $0.03
Astorius Signs Option Agreement on the OSOS 1 Gold Property in Ecuador
Vancouver, British Columbia - December 13th, 2016 - Astorius Resources Ltd. (TSX-V: ASQ, Frankfurt: 47AF) ("Astorius" or the "Company") reports that it has entered into an option agreement to acquire 100% of the OSOS 1 gold property in El Oro province, SW Ecuador, 30 km SE of the provincial capital of Machala and the Pan American Highway and 40 km from the deep water commercial port of Puerto Bolivar, from Amlatminas S.A. and Mr. Francisco Soria.
The OSOS 1 property is located at the Cerro Pelado - Cangrejos District adjacent to the Cangrejos Project concession of (Ross Beatty’s) Lumina Gold (Ex-Odin) and Mirador copper-gold deposits of Ecuacorrien. The OSOS 1 Project is located in the central to north-central part of the Portovelo-Zaruma gold mining district in southern Ecuador, in which the total historic gold production from high grade quartz vein systems was estimated to be approximately 4 to 5 million ounces.
The Cordillera del Condor region in southeast Ecuador where the OSOS1 is located, has received considerable attention following the discovery and definition of both the Fruta del Norte gold deposit by Kinross/Aurelian Resources, now owned by Lundin Gold, and the Mirador copper-gold deposits of Ecuacorriente.
The OSOS 1 mining concession comprises 229 hectares, studies prepared by Newmont in 2000 performed Aerial Geophysics and soil and rock geochemical analysis. Kinross between 2006 and 2009, conducted geological mapping, soil and rocks geochemical studies, determined anomalies of gold with arsenic in an area covering 1000 x 600 meters.
Regional geology indicates metamorphic rocks (outcrops) with tertiary intrusive systems with mineralization of quartz-turmaline breccia and stock work zones with quartz containing disseminated chalcopyrite.
Veins with north east direction have been found of 1 meter with quartz, arsenic-pyrite and chalcopyrite and gold with values of over 10 grams per ton.
About Astorius Resources Ltd.
Astorius (TSX.V:ASQ Frankfurt: 47A.S) is a junior exploration and near term production company focused on high value minerals deposits in North and South America.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ "Arthur Brown"
President & Director
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.