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- Frankfurt: 47A.F $0.05
Astorius Announces Completion of Drilling at Rainbow Canyon in Nevada
Vancouver BC, June 30, 2017, Astorius Resources Ltd. (TSXV: ASQ) (Frankfurt: 47A.F) is pleased to report that is has completed the drilling of six inclined reverse circulation boreholes for a total of 874 meters of drilling at its Rainbow Canyon property in Washoe County, Nevada.
The Rainbow Canyon property comprises 53 unpatented lode mining claims that cover an area of 417 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.
Gold mineralization has been identified at numerous locations throughout the property, primarily in the form of quartz veins up to 20cm wide which assay in grab sample from 0 to 79 g/t (ppm) gold. The veins occur in wide (up to 30m) zones of strong argillic alteration over a NE strike distance of more than two kilometers. Most of the veins dip steeply to the southeast. Andesites, basalts and rhyolites of the Miocene Alta and Old Gregory Formation underlie most of the property.
Astorius management is pleased to have completed the drill program and will release the drill results as soon as they are ready.
Mr. Clinton Smyth, MSc, P. Geo., the Company's Advisor, is the Qualified Person as defined by National Instrument 43-101 who reviewed the preparation of the technical data in this news release.
Astorius Resources Ltd. (www.astoriusresources.com) is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in Nevada and Ecuador.
Alba Minerals Ltd. (www.albaminerals.com) is a company focused on lithium exploration and development in both North and South America. Alba is Non Arm’s length with Astorius. The same 3 people comprise the majority of the Directors of both companies. Both companies also have common management. Mr. Smyth, the Company’s Qualified Person is a Director of Alba.
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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 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.