June 21, 2011

Gold potential for Cambodian mine positive for Astra Mining

Astra Mining, an Australian diversified mining company, has received its first report on a gold exploration lease in Cambodia showing the area has the potential to host a significant gold deposit.

The 222 square kilometre lease in the Ratanakiri Province of Cambodia is part of Astra’s global portfolio of exploration interests.

Astra Mining CEO, Dr Jaydeep Biswas, says while the report is preliminary and assay data from samples collected in the field are yet to be received, early indications are that a small tonnage of high-grade ore is immediately accessible for processing.

“The site inspected by our consultant geologist indicates an extensive system with the potential for large tonnage economic gold deposits,” Dr Biswas says.

“Preliminary estimates are 750 tonnes of gold-bearing ore for every 50 metres to a depth of 15 metres.

“No indication of the grade of the ‘high grade’ portions could be ascertained in the field, however we have seen some evidence of a range from between six and 33 grams of gold per tonne.”

The samples studied comprised grab samples from mine dumps, channel samples, composite rock chip samples and samples of ore from small crushing mill.

Astra considers Cambodia to be one of the few remaining countries in the world that has favourable geology in under-explored areas containing high potential for world class, undiscovered gold and copper ore bodies.

“Cambodia is considered a last frontier region for ore deposits, with virtually no coverage by modern exploration techniques,” Dr Biswas says.

“A viable, ‘company maker’ mineral deposit for us will require an open-cuttable resource delivering between one and three grams of gold per tonne.

“While early indications are that this is certainly achievable, all information is currently subject to verification as part of our due diligence process involved in the option to purchase the lease.”

Astra Mining’s global portfolio includes gold and tin interests in south east Asia and southern India, coal mines in Australia, iron ore in India, and the production of a new high-strength steel technology.

Astra has also confirmed its plans to list on the Frankfurt Stock Exchange before the end of August.

For more information visit www.astramining.com or email investor-relations@wedgewoodcommunications.com
About Astra Mining
Astra Mining is an Australian diversified mining company.

No comments:

Post a Comment