- TSX.V: ASQ $0.03
- Frankfurt: 47A.F $0.01
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
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