- TSX.V: ASQ $0.16
- Frankfurt: 47A.F $0.09
Astorius Announces The Start Of The 1St Phase Of Exploration On The “Condor” Gold Project In Equator
Vancouver, British Columbia – November 2, 2016 – Astorius Resources Ltd. (TSX-V: ASQ Frankfurt: 47AF) (“Astorius” or the “Company”) is pleased Astorius Resources is pleased to announce that, at Condor concession, Lateegra Ecuador S.A. (recently acquired by Astorius) (October 25, 2016) performed a first phase of exploration.
Results have yielded 8 anomalous zones consistent with the geochemical signatures of other recent discoveries nearby, including that at Fruta del Norte. Work consisted of geological mapping, regional stream sediment sampling and both rock and soil sampling blanketing the 243 hectare concession.
The highlights of the work show a large 19 hectare arsenic and antimony anomaly on the southern portion of the property. Dr. Richard Sillitoe states in his report "Comments on Geology and Potential of the Fruta del Norte Epithermal Gold Prospect, Ecuador, July 2006" prepared for Aurelian Resources that "If the coherent arsenic and antimony anomalies in conglomerate that help to define the corridor south of Fruta del Norte are interpreted as upward leakage from blind gold mineralization, as they have been shown to be at Fruta del Norte, then additional epithermal gold mineralization may already have been located." Dr. Sillitoe further notes that "The arsenic and antimony anomalies located south of Fruta de Norte are thought to merit immediate scout drill testing in search of blind gold mineralization in the underlying andesitic volcanic sequence."
Furthermore at El Condor a large Gold - Copper anomaly covering an area of 15 hectares is located in the north central region of the property immediately south of Aurelian's El Tigre anomaly.
First phase work by Lateegra consisted of stream sediment sampling while establishing a grid for sample and mapping control comprising over 26 kilometers of cut lines spaced 100 meters apart. Nine hundred and seventy one (971) soil samples were then collected at 25 meter intervals and analyzed utilizing MMI (Metal Mobile Ion) Technology® at ALS-Chemex laboratories.
MMI Process® was utilized for its demonstrated superior performance throughout the diverse suite of mineralization hosted in these tropical environments. In comparison with conventional techniques, MMI produces a better focus for follow-up exploration by detecting mobile ions weakly attached to soil particles emanating vertically above the oxidizing mineralization. Mobile Metal Ion analyses are expressed as concentrations just like results from a conventional soil survey. However, Wamtech Pty. Ltd, the developers of MMI Technology®, report that "& to facilitate multi-element interpretation of MMI analytical data, it is recommended that for each element, a background for the data is calculated, using (say) the lowest quartile of the data. Then a peak to background ratio (Response Ratio) is calculated for each element for each sample&"(1). The resulting unitless value, called Response Ratio ("RR"), quantifies sample enrichment with respect to the background. For example, the concentration of a sample with a Response Ratio of 35 is 35 times higher than the background concentration.
The technical information contained in this news release has been reviewed and approved by Chris Cherrywell, QP, who is a Qualified Person with respect to the Condor property as defined under NI 43-101.
Sandy MacDougall Chairman of the Board said: “we are very encouraged by starting the Phase 1 exploration program and the prospects for the development of our strategy of near term production of high value minerals.”
About Astorius Resources Ltd.
Astorius (TSX.V:ASQ) 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.
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