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Astral and Kootenay Form JV and Announce 2008 Exploration Program
for Jumping Josephine Gold Project
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Vancouver, BC - Astral Mining Corporation (TSX-V AST) ("Astral" or "the
Company") and Kootenay Gold Inc. (TSX-V KTN) are pleased to announce
that the 2008 exploration program on the Jumping Josephine (JJ) Gold
Project in southeast British Columbia has commenced with
Diamonddrilling now underway and a 40 line kilometre three dimensional (3D)
Induced Polarization (IP) survey scheduled to start mid-May. Line
cutting is currently underway to facilitate the geophysics.
Early in 2008 Astral completed its obligations under the option
agreement to earn a 60% undivided interest in the JJ Gold Project (see
April 12, 2006 news release for agreement details). The companies are
now completing a formal Joint Venture (JV) agreement and have formed a
Management Committee which will direct all future exploration work on
the project.
Initial drilling will be focussed on infilling and expanding the
auriferous structurally-controlled quartz stockwork zone at JJ Main.
Subsequently other gold targets currently defined on the property will
be drilled in addition to geochemical targets and targets identified by
the 3D IP survey. The drill program is anticipated to comprise up to
10,000m to be carried out in two phases. Further geochemical surveys,
geological mapping and trenching will also be carried out as part of
the 2008 exploration program.
Drilling in 2007 intersected the JJ Main Zone along 15 section lines
over a strike length of 700m and to vertical depths of up to 225m below
surface. Gold Assay highlights from the 2007 drill program include:
- 9.95 g/t(i) over 10m(1) (0.290 opt(ii) over 32.8 feet) from hole 001,
including 42.61 g/t over 2m (1.243 opt over 6.56 feet)
- 7.01 g/t over 19m(2) (0.205 opt over 62.32 feet) from hole 013,
including 16.42 g/t over 5m (0.479 opt over 16.40 feet)
- 15.18 g/t over 4m(3) (0.443 opt over 13.12 feet) from hole 032,
including 56.4 g/t over 1m (1.645 opt over 3.28 feet)
- 7.74 g/t over 5m(4) (0.226 opt over 16.4 feet) from hole 034,
including 15.99 g/t over 2m (0.466 opt over 6.56 feet)
- 13.83 g/t over 3m(4) (0.403 opt over 9.84 feet) from hole 043,
including 35.6 g/t over 1m (1.038 opt over 3.28 feet)
- 8.28 g/t over 6m(4) (0.241 opt over 19.68 feet) from hole 046,
including 43.5 g/t over 1m (1.269 opt over 3.28 feet)
- 12.44 g/t gold over 8m(4) (0.363 opt over 26.24 feet) from hole 048,
including 26.9 g/t gold over 3m (0.784 opt over 9.84 feet)
- 7.96 g/t over 5m(4) (0.232 opt over 16.4 feet) from hole 051,
including 32.4 g/t over 1m (0.945 opt over 3.28 feet)
* grams per tonne
**troy ounce per short ton
(Previously Released on:
The 3D IP survey will be carried out by SJ Geophysics of Delta and will
cover a 2.5km by 5.4km grid centred on the JJ Main Zone. The aim of
the survey is to identify quartz-sulphide stockwork vein zones along
strike and at depth along the JJ Main trend and to identify parallel
zones. Matrix
Diamond Drilling of Kimberly has been contracted to
conduct the HQ
Diamond drilling program.
An independent 43-101 report detailing work on the JJ Project up to the
end of 2007 by Apex Geoscience has been completed and will be posted on
SEDAR ().
Exploration work on the JJ project is carried out under the supervision
of Astral's Project Geologist Dale Brittliffe, P.Geo. Technical
information contained in this release has been reviewed by Dr. David A.
Terry, P.Geo., Director and Vice President of Exploration for Astral
Mining Corporation, and a Qualified Person as defined in National
Instrument 43-101.
Astral Mining Corporation is a Canadian-based company engaged in the
exploration and development of precious metal properties in North
America. By focusing on exploration in mining-friendly districts, the
Company minimizes the political and social risks encountered in many
other parts of the world. With a new gold discovery at the Company's
Jumping Josephine Gold Project in Southern British Columbia, and an
experienced technical team and seasoned management, Astral is poised to
leverage this expertise into early exploration success. Further details
on Astral Mining Corporation and its high-quality portfolio of
exploration projects can be found at www.astralmining.com.
Kootenay is an emerging exploration company actively developing mineral
projects in British Columbia, Canada and the Sierra Madre Region of
Mexico. The Company's top priority remains the ongoing development of
its Promontorio Silver project, which encompasses the former producing
Promontorio Silver Mine in Northwest Mexico. Further information can be
found at: www.kootenaygold.ca
ON BEHALF OF THE BOARD
"Manfred Kurschner"
Mr. Manfred Kurschner, President & CEO
Astral Mining Corporation
ON BEHALF OF THE BOARD
"James M. McDonald"
Mr. James M. McDonald, CEO
Kootenay Gold Inc.
For further information on Astral please contact Manfred Kurschner,
President & CEO, at 1-800-901-0058 or 604-687-1828, or fax
604-687-1858, or by email info@astralmining.com, or visit the Company's
web site at http://www.astralmining.com.
For further information on Kootenay Gold, James McDonald, CEO at 403-
238-6986 or Ken Berry, President at 604-601-5655; 1-888-601-5650;
www.kootenaygold.ca
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this release.
Cautionary Note to US Investors: This news release may contain
information about adjacent properties on which we have no right to
explore or mine. We advise U.S. investors that the SEC's mining
guidelines strictly prohibit information of this type in documents
filed with the SEC. U.S. investors are cautioned that mineral deposits
on adjacent properties are not indicative of mineral deposits on our
properties. This news release may contain forward-looking statements
including but not limited to comments regarding the timing and content
of upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
2008 Number 4
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Copyright (c) 2008 ASTRAL MINING CORPORATION (AST) All rights
reserved. For more information visit our website at
http://www.astralmining.com/ or send mailto:info@astralmining.com
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