Astra Exploration Inc. (TSXV: ASTR,OTC:ATEPF) (OTCQB: ATEPF) (FSE: S3I) (“Astra” or the “Company”) is pleased to announce that equipment mobilization for the Phase II drill program has occurred and drilling is underway at the La Manchuria Gold and Silver Project in Santa Cruz, Argentina.
The program follows on from the drill targets generated by the Phase I program completed in May this year and is expected to consist of approximately 10,000 meters of DDH drilling. The company expects to complete 5,000 meters by December, and another 5,000 meters in the first quarter of 2026. All planned drilling is fully funded, with a cash balance of over C$7,000,000.
The Phase I drill program indicated that La Manchuria encompasses a much larger vein system than previously recognized, with numerous intervals of significant gold and silver grades near the surface (see press releases June 10 and 25, 2025). The Phase I results support Astra’s geological model that mineralization is open in all directions, further indicating the presence of a preserved epithermal system partially obscured by post-mineral volcanoes.
Detailed mapping has revealed the presence of silica and low-temperature vein fragments at the surface, which are located in andesitic rocks and post-mineral breccias. The mapping also confirms favorable host rock units at depth, increasing the potential for La Manchuria to host a large, robust high-grade gold-silver epithermal system. The company will provide additional details on the drilling program in the coming weeks.
About the company
Astra Exploration Inc. is a precious metals exploration company based in Vancouver, BC, 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, Argentinaover which Astra has an option to acquire a 90% interest, is a high-grade, low-sulfidation epithermal (LSE) deposit of gold and silver located in the prolific Deseado massif, home to several world-class LSE precious metal deposits, including Cerro Vanguardia and Cerro Negro, Santa Cruz, Argentina.
The 100% ownership of the Pampa Paciencia gold and silver project in northern Chile is located in the Paleocene mineral province, near major mines such as Spence and Sierra Gorda. The project shares several important geological similarities with other Paleocene gold-silver deposits, including Faride and El Peñón.
The 100% owned Cerro Bayo project in northern Chile is located in the Maricunga belt, about 20 km from the Refugio mine. The project includes an epithermal (HSE) +/- porphyry gold system with high sulphidation that has 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 disclosed in this press release have been reviewed and approved by Darcy Marud, 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.
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This press release may contain certain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “target,” “plan,” “predict,” “may,” “plans” 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 of 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 on 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. Such factors, including without limitation: the development of the industry in which the Company operates; 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 Bedrijf; procesrisico; andere risicofactoren die zijn bekendgemaakt in de openbare openbaarmakingsdocumenten van het Company, available on the Company’s profile at www.sedar.com. Readers are cautioned not to place undue reliance on 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 assumes no obligation, to update these forward-looking statements or information to reflect any change in assumptions or changes in circumstances or other events affecting such statements and information, other than as required by applicable laws, rules and regulations.
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