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| | September 06, 2006
Astron Significantly Adds To Land Position At Its Advanced Stage Copper Property
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| | September 6, 2006 -- Astron Resources Corporation (TSXV: ARC) ("Astron") is very pleased to report a significant expansion to its existing land position at it's 100% owned Pumpkin Hollow Copper Development Property. Through a combination of acquisitions and claim staking Astron has increased it's land position at Pumpkin Hollow from 1,550 acres to over 7,100 acres or 11 square miles.
Joe Kircher, Chief Operating Officer for Astron stated "This large and contiguous land position not only provides the necessary surface footprint for Pumpkin Hollow's future mine and mill infrastructure, but just as importantly secures several un-tested geophysical targets identified by former property owner U.S. Steel Corp. While the focus of our work at Pumpkin Hollow over the next several months is aimed at advancing the project to the production stage, these new targets will by systematically tested and have the potential to significantly increase the already substantial copper and iron resource base at Pumpkin Hollow."
Pumpkin Hollow Copper Development Property
The 100% owned Pumpkin Hollow Copper Development Property is located in Northwestern, Nevada, one hundred miles southeast of Reno. The Pumpkin Hollow property hosts substantial porphyry related copper-iron skarn resources. Recently, a NI 43-101 compliant resource estimate for the advanced-stage development property was completed in June 2006 by an independent engineering firm, Gustavson Associates of Boulder, Colorado.
As previously reported, at a 0.2% cutoff, Gustavson estimated a measured and indicated copper resource of 2.7 billion pounds, in addition to an inferred copper resource of 3.4 billion pounds described as follows:
Classification Tons Cu grade % Contained Cu (lbs) Iron Grade%
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Measured and
Indicated 312,063,000 0.44 2,752,000,000 12.3
Inferred 454,021,000 0.37 3,396,000,000 8.2
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The resources are located on patented mining claims within a contiguous 11 square-mile land package held by Astron, comprised of patented and unpatented claims. Locally, grades of copper exceed 4% and magnetite grades are over 70%. For example previous drilling on the East and E2 deposits have returned values of 4.47% copper over a true width of 90 feet (USX hole KM18), and 4.2% copper over a true width of 115 feet (USX hole KM44); and in the Northwest deposit, USX hole USS44 returned 4.54% copper over a true width of 173 feet. Pumpkin Hollow has a well-documented history with over 590,000 feet of drilling completed by several major mining companies including U.S. Steel Corporation ("USX"), Anaconda Copper Corporation, Conoco, Inc. and Cyprus Metals Exploration Corporation. In addition, the project benefits from various levels of historic mine design, metallurgical evaluations and baseline studies that have been completed.
The copper deposits are chalcopyrite-rich magnetite bodies amenable to a mix of open-pit and underground mining methods. Metallurgical testing has given very favorable results with 85% copper recoveries. Based on preliminary examination of the data a by-product of gold, silver and molybdenum is anticipated. The property is accessible by paved road and is located on flat to gently rolling terrain. Pumpkin Hollow is uniquely positioned in an area with excellent infrastructure including power on the property, natural gas supply and railroad siding within 8 miles, and a reliable local labor force.
Development Plan
The focus of Astron's development efforts will be work programs designed to further enhance the property's economics, in advance of moving the project into feasibility during 2007. Property development work planned over the next six months is estimated to cost U.S. $1.5 million and will include:
- Data Reconstitution: Consisting of re-assaying previously drilled samples for gold, silver and molybdenum, which for the most part were not assayed in previous drilling programs. The addition of a gold silver and/or a molybdenum credit to the resource estimate would enhance project economics;
- Fill in & Step-out Deposit Drilling: A total of 30,000 feet of drilling is planned. The drilling program will upgrade the classification of resources by shortening the distance between existing drill holes. Step-out drilling will test the potential for additional mineralization in areas down dip and along strike of the known resources that are either under-drilled or completely un-tested; and,
- Baseline Data Collection: This Program will complement the drilling program and consist of metallurgical, hydrological and geotechnical programs to support both permitting and economic studies.
About Astron
Astron is a base metal company engaged in the acquisition and development of copper deposits located in the United States. Astron is advancing its Pumpkin Hollow Copper Development Property in Nevada which currently has a measured and indicated copper resource of 2.7 billion pounds, in addition to an inferred copper resource of 3.4 billion pounds.
Astron has 27.0 million shares outstanding and is well financed with no debt. For additional information about Astron please visit our website at www.astronresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ASTRON RESOURCES CORPORATION
Giulio T. Bonifacio
Director
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
For further information call:
Longview Strategies Incorporated
Attention: Michael Rodger
Phone: 604-681-5755
OR:
Giulio T. Bonifacio, Director
Phone: 604-699-0023
Susan L. Wilson, Corporate Communications
Phone: 604-688-7508
Email: info@astronresources.com |
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| | You can view the Next News Releases item: Wed Oct 4, 2006, Astron Begins Comprehensive Assay Program and Prepares for Drilling
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