Estrella Gold Regains 100% Interest in Flagship La Estrella Property
22 Janeiro 2014 - 7:48PM
Marketwired
Estrella Gold Regains 100% Interest in Flagship La Estrella
Property
- Mines Management hands project back
- 33 holes drilled to date with multiple gold-silver
intercepts
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 22, 2014) -
Estrella Gold Corporation's (TSX-VENTURE:EST) ("Estrella" or the
"Company") has retained 100% interest in its flagship property La
Estrella Gold Project after its joint venture partner Mines
Management Inc. ("Mines Management") served its termination notice
to option in 75% interest in the property on January 20, 2014.
Mr. John R. Wilson, President and CEO of Estrella commented,
"Given the historical data and the amount of excellent work
performed by Mines Management during its option period, the Company
is excited to get the La Estrella Project back. The mineral system
at La Estrella is quite large, and we feel that it has significant
upside tonnage potential. Estrella will now actively move ahead on
advancing the project and initially, we will focus on reviewing the
data compiled by Mines Management over the past 2 years."
La Estrella Project
La Estrella property is comprised of approximately 2,200
hectares of land within the Central Peru Polymetallic Belt, and is
located 130 km south of Huancayo in the Department of Huancavelica,
a region with a history of silver mining dating to the 1500's. The
Project is in an area of established infrastructure, with roads and
electricity, and lies within 30 km of Minera Buenaventura's
historic Julcani Silver Mine which began operation in 1955.
Exploration of La Estrella
In 2012, eight diamond drill holes totaling approximately 2,700
meters were completed, seven of which intercepted significant
thicknesses of gold and silver mineralization (see News Release
September 13, 2012). These intercepts expanded the historically
known area of mineralization toward greater depths on the west and
southwest side of the project's 2012 area of interest.
Because a strong positive correlation between higher grade gold
mineralization and moderate to high values of chargeability had
previously been demonstrated on La Estrella Project, a 3-D
Induced-Polarization/Resistivity survey by Val D'Or Geophysics Peru
was contracted in December 2012 to February 2013 to provide
indications of mineralized trends and directions useful for
exploration. The survey identified a large, previously unknown area
of anomalous chargeability extending north and northwest from the
2012 area of interest for a distance of approximately 1,400 meters.
This new area, when combined with previously known areas of
anomalous chargeability, forms a prospective zone over 2,000 meters
in N-S extent and up to 1,100 meters in E-W extent.
La Estrella Geology and Mineralization
La Estrella concessions cover a large area of gold-silver
mineralization hosted by a thick west-dipping dacite sill beneath a
sequence of andesitic volcanic rocks. Gold mineralization occurs as
pyrite-associated disseminations in silicified and
phylically-altered dacite; also as quartz-sulfide stockworks in
brecciated or structurally-disrupted andesitic rocks. Higher-grade
silver intervals (>100 gpt) occur with galena and a variety of
sulfosalts in mineralized structures cutting the dacite sill and
volcanic package, reflecting an event later than the more
widespread gold-silver dacite-hosted mineralization. To date,
historic and current sampling and drilling activities have
identified a roughly tabular zone of mineralization generally
conformable to the dacite sill over 1,500 meters in strike length,
300-500 meters in width, and 50-150 meters thick. Geophysical
indications of mineralization include this known area and extend
across a strike length of 2,000 meters and up to 1,100 meters width
in the central portion of the deposit. The system remains open to
the north, south, west, and at depth in the central, widest portion
of the anomalous zone.
About Estrella Gold Corporation (TSX-VENTURE:EST) Mineral
exploration is inherently risky and Estrella increases the chances
of success as a "Prospect Generator" focused on gold exploration in
Latin America. Estrella identifies and acquires new mineral
properties, conducts initial, low-cost exploration to define a
potential new deposit and then forms joint ventures with other
companies that will provide funding for more advanced exploration.
Estrella has three properties optioned out or held in joint venture
agreements. The Company has 31.6 million shares issued and
outstanding, and is listed on the TSX Venture Exchange
(TSX-VENTURE:EST). Mr. John Wilson, BSc, MS, is a Qualified Person
for the purposes of National Instrument 43-101 Standards of
Disclosure for Mineral Projects of the Canadian Securities
Administrators, and has reviewed and verified the technical
information contained in this news release.
To learn more visit: www.estrellagold.com.
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. STATEMENTS IN THIS NEWS RELEASE, OTHER
THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING
TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS,
MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS
ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE
RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND
DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM
THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
Estrella Gold CorporationJohn R. WilsonPresident and CEO(604)
687-3520(888) 889-4874Estrella Gold CorporationSandrine
LamShareholder Communications(604) 687-3520(888)
889-4874www.estrellagold.com
(TSXV:EST)
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