Announcement • Jul 01

Astra Exploration Provides Exploration Update for La Manchuria and Don Mario Projects

Astra Exploration Inc. has provided an update on exploration activities at the La Manchuria low-sulphidation epithermal gold-silver project in Santa Cruz, Argentina, and the Don Mario high-sulphidation epithermal gold project in the Maricunga District of northern Chile. Field observations from the Phase III drill program at La Manchuria indicate the deposit continues to grow and will create more drill targets for the next phase of drilling which is expected to commence in early Fourth Quarter. With the recent financing of CAD 15 million, Astra is well-positioned to continue unlocking value from its exploration assets while minimizing dilution. Astra’s team has also recently completed some low-cost drill targeting field work at the Don Mario project in northern Chile and is expecting those results in the near future. Don Mario is a high-sulphidation epithermal system located in the Maricunga District, one of the most prolific gold belts in the Andes. During the phase III drill program at La Manchuria, every drill hole has intersected veins and/or veinlets, some with visible mineralization, further expanding the system which remains open in all directions. At Don Mario, geological mapping and field observations indicate that the area hosts a large HSE alteration system with potential for gold mineralization. This large alteration footprint has been identified by satellite imagery mapping and will be confirmed by spectral mineralogy, but preliminary exhibits the scale and characteristics commonly associated with major HSE gold systems in the Maricunga belt. Astra has completed the Phase III drill program, consisting of 16 holes totaling approximately 5,170 metres of DDH drilling. Initial assays could be received as early as July, but more likely in August and September. Three holes target the Main Zone at vertical depths ranging from 200 to 300 metres; two holes target near-surface strike extension to the northwest of the Main Zone at vertical depths ranging from 100 to 200 metres; four holes target the Eastern Zone for vein extension along strike and at depth, with vertical depths ranging from 50 to 300 metres; three holes target the Basalto Zone for vein extension along strike and at depth, with vertical depths ranging from 100 to 150 metres; one hole targets the Road Zone for vein extension along strike with vertical depths ranging from 100 to 150 metres; three holes target the central area between the Main and Eastern Zone for vein extension along strike. Field observations including visible mineralization in multiple vein structures, some of which are extensions of known veins, while others are new veins. Veins and/or veinlets were encountered in all 16 drill holes. The Company will be providing additional details as further analysis is completed and assays are received. The Company is awaiting results from a program of low-cost, localized drill targeting work at the Don Mario project which was completed in March-June of this year. Management believes there is potential to discover a large HSE gold system in this world-class gold-copper belt, which is estimated to host in excess of 100 Moz of gold across multiple HSE and porphyry deposits. The following work was recently completed by Astra: Satellite alteration map using WorldView-3 images; Controlled & Natural Source Audiofrequency Magnetotellurics (CS-NSAMT) survey; A combined geochemical (LAG samples) and spectral mineralogy (Terraspec) survey based on a total of around 267 surface samples in a 100 by 200 meters grid. Satellite alteration mapping reveals a northwest elongated 1.8 x 2 kilometre silica-alunite anomaly, with localized northwest to north-south oriented pyrophyllite zones, with acidic mineral anomalies surrounded by kaolinite and neutral clays. Positive results from the CS-NSAMT survey, LAG samples, and Terraspec survey could confirm a very compelling HSE drill target in a region known for similar Tier-1 deposits like Salares Norte and La Coipa, for example. Information disclosed from analogous properties in this news release is not necessarily indicative to the mineralization on the Don Mario property.

Astra Exploration Inc. Stock Price

ASTR Share Price Performance

ASTR Community Narratives

Trending Discussion

Recently Updated Narratives

Snowflake Analysis

Astra Exploration Inc. Key Details

About ASTR

Recent ASTR News & Updates

New major risk - Financial position

Astra Exploration Provides Exploration Update for La Manchuria and Don Mario Projects

Astra Exploration Inc., Annual General Meeting, Aug 26, 2026

Recent updates

Astra Exploration Inc. Competitors

Spanish Mountain Gold

Abitibi Metals

Sherritt International

GR Silver Mining