Astra Intersects 199.3g/t Gold and 228g/t Silver Over 0.6 Meters and Multiple High-Grade Veins at La Manchuria, Argentina

Rhea-AI Summary

Astra Exploration (OTCQB: ATEPF) has announced significant drill results from its maiden drilling program at the La Manchuria Project in Argentina's Deseado Massif. The program revealed exceptional high-grade intersections, including 199.3g/t gold and 228g/t silver over 0.6 meters in hole LM-107A.

The Phase I program, consisting of 11 diamond drill holes totaling 2,468 meters, successfully confirmed the company's geological model and demonstrated mineralization extensions in multiple directions. Notable results include multiple high-grade veins, with intercepts such as 4.0m grading 7.57g/t gold in LM-112 and 1.3m grading 17.3g/t gold and 61g/t silver in LM-113.

With approximately $2 million in treasury, Astra is fully funded for a Phase II drilling program to further expand the La Manchuria epithermal vein system.

Positive

• Exceptional high-grade gold intersection of 199.3g/t over 0.6 meters
• Multiple high-grade gold and silver veins discovered across different zones
• Company is fully funded with $2M in treasury for Phase II drilling
• Successful confirmation of geological model with mineralization extending in multiple directions
• 85% estimated true widths indicate robust vein system

Negative

• Some drill holes (LMD-110, LMD-114, LMD-115) returned no significant values
• Structural complexity in southeast extension requires additional drilling to define mineralization
• Eastern Zone remains largely untested with only five holes drilled to date

Highlights

• LM-107A: 1.6m grading 75.09g/t gold and 86.79g/t silver including

  • 0.6m grading 199.3g/t gold and 228g/t silver

• LM-112: 4.0m grading 7.57g/t gold and 0.5g/t silver

• LM-113: 1.3m grading 17.3g/t gold and 61g/t silver

• Estimated true widths are 85% of widths reported in this news release

• The Company is fully funded for the second phase of drilling at La Manchuria

Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - Astra Exploration Inc. (TSXV: ASTR) (OTCQB: ATEPF) (FSE: S3I) ("Astra Exploration" or the "Company") is pleased to announce additional results from the Company's maiden drill program at the La Manchuria Project, located in the prolific Deseado Massif of Santa Cruz, Argentina.

Astra's CEO, Brian Miller commented:

"Astra's first drilling program at La Manchuria indicates a much larger vein system than previously recognized. Significantly, it has many intervals of high gold and silver grades with exceptional grades of up to 199.3g/t gold (LM-107A) and 8,356g/t silver (LM-108A - see June 10, 2025 news release). The drill program also confirmed the Company's geologic model, and that mineralization extends to depth and to the southeast, northwest, and southwest. Particularly noteworthy is the extension of high-grade veins of the Main Zone to the southeast beneath the post-mineral cover. We are currently finalizing plans for a fully-funded follow-up drill program that will look to continue growing the La Manchuria district."

Drilling Program

A total of 11 diamond drill holes (DDH), totaling 2,468 meters were completed in the Phase I drill program at La Manchuria. The drilling tested four different target zones identified by the Astra exploration team (see May 21, 2025 news release). The results reported herein are from seven drill holes completed to the southeast and northwest of the Main Zone and from the Eastern Zone (Figure 1 and Table 1).

Figure 1: Plan map of Phase I drill results for seven holes (107A, 110, 111, 112, 113, 114, & 115) at La Manchuria. Gold and silver results are in grams per tonne (g/t).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8951/256723_ef2c4c60d4dd191c_002full.jpg

Hole	From (m)	Width (m)	Au (g/t)	Ag (g/t)	AuEq (g/t)
LMD-107A	175	1	1.1	2	0.9
LMD107A	189.5	1.6	75.1	87	60.8
including	189.5	0.6	199.3	228	161.6
LMD107A	192.8	1	5.2	131	5.2
LMD107A	196.5	0.5	6.5	11	5.3
LMD-107A	203	2	1.8	3	1.4
LMD-110	No significant values
LMD-111	106	3	0.9	11	0.8
LMD-111	185	3	0.37	59	0.8
LMD-112	30	4	7.6	0.5	6.1
LMD-112	70	6	0.38	61	0.8
LMD-112	99	3	3.8	25	3.2
including	100.2	0.8	13	43	10.7
LMD-112	110	2	0.52	73	1.0
LMD-113	8	12	0.78	97	1.4
LMD-113	35	1	6.2	11	5.1
LMD-113	57	1.4	1.1	306	3.4
including	58.9	0.5	2.3	808	8.3
LMD-113	63.8	1.3	17.3	61	14.3
including	64.6	0.5	31	110	25.7
LMD-114	No significant values
LMD-115	No significant values

 

Table 1: Assays from the remaining seven holes of Phase I drilling at La Manchuria. Au grades > 1g/t are rounded to the nearest 1/10th of a gram. Ag grades > 1g/t are rounded to the nearest 1g. AuEq is calculated using $3,300 gold and $33 silver, and applying documented flotation recoveries of 80% for Au and 80% for Ag as outlined in "Updated Technical Report on the Mineral Resources of the La Manchuria Project, Santa Cruz, Argentina" prepared for Patagonia Gold S.A by Micon International Limited, with an Effective Date of February 28, 2019¹ (see references section at the end of this news release for link).

Drilling Results and Discussion

Southeast of Main Zone

Drill holes LMD-107A, LMD-110, LMD-111 and LMD-115 were designed to test the south-eastern extension of the Main Zone. Previous drilling had intercepted mostly post-mineral cover rocks without intersecting any epithermal veining. The Astra geologic model correctly predicted that the post mineral cover required deeper drilling. Drill hole LMD-107A successfully intersected the Main zone high-grade veins approximately 75 meters southeast of any previous intersections and hole LMD-110 indicates that the post mineral cover thins to the southeast.

Drill hole LMD-107A (Figure 2) tested the strike extension of previously intersected epithermal veins below 110 meters of the post-mineral breccia cover unit. The hole returned one of the highest gold grade intercepts to date on the project, with 0.6 m of a banded quartz and black sulphides vein (Photo 1) grading 199.3 g/t Au and 228 g/t Ag at a downhole depth of 189.5 meters. This vein is part of a wider zone of precious metal-rich veins and veinlets within a 7.5-meter-wide zone of sub parallel veins and veinlets (see Figures 1 & 2).

Drill holes LMD-110 and LMD-115 intersected veining in the andesitic rocks, which returned no significant assay results. Hole LMD-111 returned two intervals (3.0 meters grading 0.9 g/t Au and 11 g/t Ag at 106 meters downhole, and 3.0 meters grading 0.37 g/t Au and 59 g/t Ag at 185 meters downhole).

The current drilling demonstrates the structural complexity of the southeast extension and the control of lithology on grade distribution. Additional drilling is planned for this area to better define the distribution and variation of high-grade mineralization.

Figure 2: Schematic cross section through the south extension of the Main zone at La Manchuria showing hole LMD-107A drill results.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8951/256723_ef2c4c60d4dd191c_004full.jpg  

Photo 1: Banded quartz and black sulphides vein from hole LMD-107A grading 199.3 g/t Au + 228 g/t Ag approximately 150m below surface.

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Northwest of Main Zone

Drill hole LMD-113 was designed to explore for new veins to the northwest of the Main Zone. The hole successfully intersected a group of four mineralized structures that could represent either the northwestern projection of the Main Zone or new parallel veins to the west of the Main Zone. The drilling intersected shallow veins with several high-grade mineralized intervals that remain open at depth and along strike:

• 12 m with 0.78 g/t Au and 97 g/t Ag at 8 m downhole depth that represents the upper flaring portion of a continuous veinlet structure previously defined by four earlier drill holes (see Figure 3), and open at depth

• 1.0 m with 6.2 g/t Au and 11 g/t Ag at 35 m downhole depth

• 1.4 m with 1.1 g/t Au and 306 g/t Ag at 57 m downhole depth, and

• 1.3 m with 17.3 g/t Au and 61 g/t Ag at 63.8 m downhole depth

The style of veining in the last two intercepts suggest they may represent two branches of a single, continuous structure, which remains open along strike and to depth. The branches may merge into a thicker, more cohesive zone that will be followed up by future drilling.

Figure 3: Schematic cross section through the Main zone at La Manchuria showing hole LMD-113 (and previously reported LMD-109) drill results.

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https://images.newsfilecorp.com/files/8951/256723_ef2c4c60d4dd191c_006full.jpg

Eastern Zone

Drill holes LMD-112 and LMD-114 tested the Eastern Zone.

LMD-112 was drilled 40 meters to the west of LM-099-D (which returned 3.95 meters @ 16.0 g/t Au and 42 g/t Ag) with the objective of testing the depth extent of this mineralization. LMD-112 intersected several new mineralized veins, breccias and veinlets that together returned 4.0 meters of 7.6 g/t Au and 0.5 g/t Ag at 30 meters down hole and also intersected (in the andesitic rocks the down dip extension of mineralization intersected in LM-099-D) 3.0 meters of 3.8 g/t Au and 25 g/t Ag at a drill depth of 99.0 meters.

LMD-114 intersected some veining in andesitic rocks with no significant assay results. The Eastern Zone has been tested with only five holes and has returned intervals of > 5g/t AuEq in four of these. The Eastern Zone requires significant additional drilling to fully define the limits and extents of mineralization.

Next Steps

With the success of the initial drill program that extended known high-grade mineralization and discovered new sub parallel high-grade veins, the Company is finalizing plans to follow up with a Phase II drill program. With a current treasury of approximately $2 million Astra is well-funded to continue to grow the La Manchuria epithermal vein system.

Sampling Procedures

Drill samples consisted of HQ core which were split in half, sampled, bagged, and tagged by Astra's geological team and then delivered to the Alex Stewart International Argentina laboratory in Mendoza. Drill samples were prepared with P5 code and then analyzed with fire assay for gold (Au4-50) and multi-elements by ICP (ICP-AR 39). Silver (>200 g/t) and gold (>100 g/t) over-limits were analyzed by gravity method (AuAg4A-50). 48 Blanks and 58 Standards (3 different Au and Ag grades) were used as QAQC for the group of 1,146 samples.

Figure 4: Location map of the La Manchuria project in the Deseado Massif of Santa Cruz, Argentina.

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About the Company

Astra Exploration Inc. is a precious metals exploration company based out of Vancouver, BC that is actively building a portfolio of high-quality projects in some of the most important mining jurisdictions in Latin America.

The La Manchuria gold-silver project in Santa Cruz, Argentina, over which Astra has an option to acquire 90% interest, is a high-grade gold and silver low sulphidation epithermal (LSE) deposit located in the prolific Deseado Massif which hosts multiple world-class LSE precious metals deposits including Cerro Vanguardia and Cerro Negro, Santa Cruz, Argentina.

The 100% owned Pampa Paciencia gold and silver project in northern Chile is located in the Paleocene mineral province in proximity to such major operating mines as Spence and Sierra Gorda. The project shares several important geological similarities to other Paleocene LSE gold-silver deposits including Faride and El Peñón.

The 100% owned Cerro Bayo project in northern Chile is located in the Maricunga belt approximately 20 km from the Refugio Mine. The project hosts a high sulphidation epithermal (HSE) +/- porphyry gold system with similarities to the Salares Norte deposit to the north in the same belt. The Maricunga belt is one of the most endowed regions in the world for gold and copper deposits.

Qualified Person

The technical data and information as disclosed in this news release has been reviewed and approved by Darcy Marud, who is an Independent Director of Astra. Mr. Marud is a Practicing Member of the Association of Professional Geoscientists of Ontario and is a qualified person as defined under the terms of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

For further information please contact:

Brian Miller
Chief Executive Officer
Tel. 604.428.0939
Email: brian.miller@astra-exploration.com

References:

¹ Source: Stubens, T. and Gowans, R., September 27, 2019.
Updated Technical Report on the Mineral Resources of the La Manchuria Project Santa Cruz Province, Argentina
https://www.sedarplus.ca/csa-party/records/document.html?id=6bc2df299100dda4b4142a8fc3458ea9e378a7ef5b24922fa490ce964833e1b0

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward- looking statements or information. These forward-looking statements or information may relate to the Company's business activities; exploration on the Company's properties including drilling at the La Manchuria project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Such factors include, without limitation: development of the industry in which the Company operates; risks associated with the conduct of the Company's business activities; risks relating to reliance on the Company's management team and outside contractors; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; laws and regulations governing the industry in which the Company operates; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties; employee relations, labour unrest or unavailability; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and other risk factors disclosed in the Company's public disclosure documents available on the Company's profile at www.sedarplus.ca. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

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FAQ

What were the highest-grade gold and silver intersections in Astra's La Manchuria drilling program?

The highest-grade intersection was 199.3g/t gold and 228g/t silver over 0.6 meters in hole LM-107A.

How many drill holes did ATEPF complete in Phase I at La Manchuria?

Astra completed 11 diamond drill holes totaling 2,468 meters in the Phase I program.

What is Astra Exploration's current treasury position for future drilling?

Astra has approximately $2 million in treasury and is fully funded for the Phase II drilling program at La Manchuria.

Where is the La Manchuria Project located?

The La Manchuria Project is located in the Deseado Massif region of Santa Cruz, Argentina.

What were the key findings from ATEPF's maiden drilling program?

The program confirmed the geological model, discovered multiple high-grade veins, and demonstrated mineralization extensions to the southeast, northwest, and southwest, with exceptional grades up to 199.3g/t gold and significant silver values.