Astur Gold Corporation

TSX VENTURE : AST
FRANKFURT : CDC


Astur Gold Corporation

January 06, 2014 08:00 ET

Astur Gold Announces Completion of Resource Delineation Drilling at Salave

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 6, 2014) - Astur Gold Corp. (TSX VENTURE:AST)(FRANKFURT:CDC) ("Astur Gold" or the "Company") is pleased to announce the results from its recently completed surface diamond drilling program on its 100% owned Salave Gold Project in Asturias, Spain. A total of 10 holes were completed from 4 drill platforms for a total of 3,031 meters drilled. Assay results have been received for all 10 holes and are reported below.

The drill program was designed to provide infill drill data in support of a revised resource estimate at Salave that is expected to be announced in the following weeks. Two holes were also drilled to twin holes drilled by former operators in order to assess the quality and reliability of older data in support of their inclusion in the pending resource update. These twin holes were successful in confirming the presence of a significant high grade zone within the main resource area at Salave. In addition, other holes were drilled to explore for extensions to the known mineralized zones at Salave both down dip and along strike.

"We are pleased with the results of the recent surface drill program, and look forward to updating the market in due course with a revised resource estimate for Salave," commented Cary Pinkowski, President & CEO of Astur Gold. "Infill drilling has helped improve our confidence in the continuity of several mineralized lenses. Initial step-out drilling has additionally shown that mineralization continues to the west and southwest, and further follow-up drilling is warranted."

Highlights from the drill results include 25.08m @ 5.21 g/t Au in Hole SA-3 and 6.29m @ 17.43 g/t Au and 12.92m @ 7.4 g/t Au in Hole SA-6. All widths are estimated true widths. Significant drill intercepts are presented in the following table:

Hole No From To Width True Width (Estimated) g/t Au Target
SA-1 221.70 227.30 5.60 3.64 3.49 West Extension
236.60 240.30 3.70 2.41 2.94
SA-2 109.90 126.10 16.20 10.53 1.91 Southwest Extension
including 112.90 118.90 6.00 3.90 3.13
129.10 158.10 29.00 18.85 2.88
including 151.60 157.50 6.00 3.90 5.00
SA-3 92.90 97.00 4.10 3.49 2.45 Twin Hole
125.40 132.90 7.50 6.38 2.64
153.00 158.00 5.00 4.25 6.11
193.30 222.80 29.50 25.08 5.21
including 209.80 214.30 4.50 3.83 14.50
240.80 251.20 10.40 8.84 7.56
including 242.30 243.80 1.50 1.28 24.20
SA-4 154.10 158.50 4.10 2.67 1.82 Infill
152.60 175.60 23.00 14.95 1.44
including 171.10 174.10 3.00 1.95 3.24
225.00 246.10 21.10 13.72 1.47
including 235.50 238.60 3.10 2.02 2.80
SA-5 65.20 68.20 3.00 1.95 4.06 Infill
121.30 128.80 7.50 4.88 1.20
133.70 175.00 41.30 26.85 2.26
294.70 298.00 3.30 2.15 2.50
SA-6 62.40 66.50 4.10 3.49 4.45 Twin Hole
79.10 86.50 7.40 6.29 17.43
including 80.60 85.00 4.40 3.74 26.75
100.50 109.50 9.00 7.65 13.87
including 103.50 108.00 4.50 3.83 26.16
128.00 137.00 9.00 7.65 5.78
144.50 159.70 15.20 12.92 7.40
including 145.80 147.20 1.40 1.19 22.30
including 151.80 153.00 1.20 1.02 18.50
202.00 213.70 11.70 9.95 1.78
235.50 241.70 6.20 5.27 5.12
250.50 252.00 1.50 1.28 10.05
267.00 268.50 1.50 1.28 32.70
SA-7 79.00 82.00 3.00 1.95 2.33 Infill
117.50 120.30 2.80 1.82 1.92
129.30 130.80 1.50 0.98 4.20
145.00 159.00 14.00 9.10 1.18
165.00 187.30 22.30 14.50 1.49
222.30 232.10 9.80 6.37 1.59
281.00 284.50 3.50 2.28 2.40
SA-8 66.00 67.50 1.50 0.98 6.73 East Extension
75.00 76.50 1.50 0.98 3.35
88.50 91.50 3.00 1.95 2.05
94.50 105.70 11.20 7.28 3.03
109.80 111.40 1.60 1.04 7.90
SA-9 94.50 97.30 2.80 1.82 1.75 Infill
110.00 117.00 7.00 4.55 2.63
SA-10 187.35 216.00 28.65 18.63 1.61 West Extension
225.00 227.70 2.70 1.80 2.38

Gold mineralization at Salave is found within of a series of northwest plunging lenses of disseminated and stockwork-type sulphides, chiefly pyrite and arsenopyrite, hosted by a granodiorite intrusive and overlain by sedimentary rocks. The individual lenses are controlled by a series of contact parallel structures and associated surrounding micro-fractures. A near vertical feeder structure has been postulated to occur in the vicinity of the high grade mineralization and may be related to northeast trending structures.

Astur Gold is currently conducting a Feasibility Study on Salave based upon underground-only mining via open stope mining methods, bulk backfill with development rock and paste fill, and processing via conventional flotation to produce a gold-rich concentrate for shipment to an independent smelter. A new independent underground resource estimate is expected shortly, incorporating the results of the recent drill program, and will form the basis of the ongoing Feasibility Study at Salave.

Diamond Drilling and Sampling Procedures:

The diamond drilling was completed using HQ, and PQ core size. Overall core recovery was estimated to be greater than 95%. The core was logged by independent consulting geologists. After cutting with a diamond saw, one half of the core was collected for sample preparation and analysis and the other half retained for future reference. Sample intervals were selected based on lithology changes, alteration intensity and estimated mineral content. Sample interval lengths ranged from 0.1 to 2.9m. The vast majority of the sample intervals were 1.5m. Sample preparation was completed by ALS Laboratories ("ALS") located in Seville, Spain and analyses were completed by ALS at their Loughrea facility in Galway, Ireland.

Sample preparation at ALS consisted first of logging the sample into the ALS tracking system, then the sample was weighed, dried and finely crushed to 70% passing a 2mm screen. A split of up to 1000g was pulverized to 85% passing a 75 micron screen.

Gold was assayed using ALS's Au-AA25 package, which consists of fusion of a 30 gram sub-sample followed by an AAS finish. Samples which assayed more than 10 g/t Au were re-assayed using ALS's AU-GRA21 package, which consists of a gravimetric finish after fusing a 30 gram sample. ALS analyzed for 33 other elements using their ICP-61a package, which included 4 acid digestion and ICP-AES finish.

Astur Gold instituted a strict quality assurance and quality control ("QA/QC") program for the Salave drill core sampling. Each batch of 20 samples included one certified reference material (standard), one blank sample, and one core duplicate sample. Quality control guidelines and ongoing QA/QC monitoring are carried out by outside consulting geologists.

Robert J Fraser P.Geo. of R.J. Fraser Mineral Exploration Inc., an independent Consulting Geologist and Qualified Person ("QP") as defined by NI 43-101, supervised and directed the drilling program and has approved the content of this news release.

ABOUT ASTUR GOLD

Astur Gold is developing its 100% owned Salave Gold Project in Asturias, northern Spain. Salave is one of the largest undeveloped gold deposits in Western Europe. The Company received approval for an underground mine from the Commission for Environmental Affairs of the Principality of Asturias in November 2012. Astur Gold is conducting a Feasibility Study on Salave and intends to commence construction upon its completion and receipt of process plant, tailings, and water discharge approvals. The Company is building a partnership with the people of Asturias to generate sustainable economic benefits for the region while balancing the needs of environmental protection and social community development.

ON BEHALF OF THE BOARD

Cary Pinkowski, Chief Executive Officer, President and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Mineral resources that are not mineral reserves do not have demonstrated economic viability. This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.

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