Vancouver, British Columbia--(Newsfile Corp. - February 29, 2024) - Astra Exploration Inc. (TSXV: ASTR) (OTCQB: ATEPF) ("Astra Exploration" or the "Company") is pleased to announce that it will be exhibiting at the Prospectors and Developers Association of Canada's 2024 Conference ("PDAC 2024") at the Metro Toronto Convention Centre from March 3-6, 2024. Astra Exploration will be exhibiting in the Investors Exchange at Booth No. 2310.
The Company's management welcomes shareholders and investors to visit the booth to engage with Brian Miller, CEO, and Diego Guido, Exploration Director from Chile, for an update on its activities in the active Paleocene region of northern Chile.
Astra's flagship project, the Pampa Paciencia, a large epithermal precious metals vein system with porphyry copper potential, is strategically positioned just 15km from two world-class copper mines - Sierra Gorda & Spence - in one of the most important mining jurisdictions in the world. Located approximately 175km north of the El Peñón mine - the largest known low-to-intermediate sulphidation deposit in Chile - the Pampa Paciencia project has just received approval of its Environmental Impact Assessment (EIA).
"Securing the approved EIA is an important milestone for Astra which allows us to extensively explore the gold-silver epithermal system and focus on expanding its size. Importantly, Astra is now permitted to conduct geophysical surveys and drilling operations on the entirety of the Paciencia District claim group, which hosts several kilometres of untested epithermal vein targets and a large porphyry copper target. The permitting process was concluded on schedule, and we are excited to proceed with further geophysics and drilling as soon as possible," Brian Miller, CEO.
The Company boasts strong cornerstone shareholders, a tight share structure and attractive valuation. Including 24% ownership by Astra's management, a small group of cornerstone shareholders including Michael Gentile and Peter Marrone collectively own almost 70% of Astra's issued and outstanding shares.
The Company is currently focused on advancing the Pampa Paciencia project, and growing its portfolio by adding highly-prospective projects.
For more information, please visit our website or view our latest Investor Presentation.
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.
Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
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; completion of the transactions contemplated by the Purchase Agreement; receipt of all required regulatory approvals; and marketing initiatives. 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.sedar.com. 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.
