Estrella Announces Results of Regional Exploration with Cliffs
Published : October 29, 2012
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Antimony | Chile | Copper | Gold | Iron | Market | Mercury | Peru | Silica | Silver |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 29, 2012) - Estrella Gold Corporation (News - Market indicators) ("Estrella" or the "Company") -

  • Estrella Nominates New Property of Merit - Yanac Copper Discovery
  • Estrella Discovers and Acquires 6 new epithermal gold prospects from Venture.

Estrella Gold Corporation is pleased to announce the results of regional exploration managed under its Alliance Agreement with Cliffs Natural Resources Exploration Inc., a wholly owned subsidiary of Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF) ("Cliffs"). The program is fully funded by Cliffs and commenced in February of 2011. As manager, Estrella carried out an integrated exploration program for iron-oxide-copper-gold mineralization (IOCG) in south-central Peru within and adjacent to the Marcona iron district. The program included systematic development of a detailed exploration database and targeting strategy, followed by target identification and property acquisition and evaluation. Estrella identified and evaluated 35 target properties containing 51,100 hectares (511 square kilometers) over the last 20 months.

Estrella has discovered several exciting mineral occurrences which are being explored, including the Yanac porphyry copper occurrence. The Yanac Property contains 5,200 hectares of mineral lands which host a large zone of outcropping copper mineralization, extending 800 meters (N-S) by 400 meters (E-W). Estrella has nominated the Yanac property as a "Property of Merit" within the Alliance Agreement. Cliffs has 90 days to accept or decline the property as a new "Joint Venture Project", until December 1, 2012. If accepted, Yanac will become a new Joint Venture Project, with a minimum US$500,000 first year exploration budget funded by Cliffs. As described below, Cliffs can earn up to a 70% interest by funding US$4.0 million in exploration, and can then earn to 80%, subject to staged terms and conditions. Yanac will be described in detail in a separate forthcoming news release. In addition to Yanac, Cliffs also continues to fund exploration of the Pampa Poroma Joint Venture Project (news release September 11, 2012), and 9 additional target properties which have potential for IOCG mineralization. They also continue to fund exploration for new properties.

Eighteen (18) other properties (16,000 hectares) have been designated as Rejected Targets under the Alliance Agreement, and exploration of these properties will no longer be funded by Cliffs under the Alliance Agreement. These include 6 properties with 7,100 hectares that contain volcanic-hosted alteration systems, which have potential for discovery of precious metal mineralization. The properties contain variable amounts of favorable alteration including vuggy silica, hydrothermal clay, iron oxide with elevated trace element geochemistry including gold, silver, antimony, arsenic, or mercury. These six new properties will be explored independently and offered for Joint Venture to qualified parties from Estrella as part of the Company's Prospect Generator Business Model.

Mr. Keith Laskowski, QP, President and CEO of Estrella, commented, "We are pleased with the success of our exploration alliance with Cliffs. The program has generated some exciting new discoveries which Cliffs may continue to pursue, and as a secondary benefit, we have received six new epithermal gold properties which do not fit the current objectives of our partner. The Alliance Agreement with Cliffs provides several paths to value for Estrella shareholders. We look forward to additional encouraging news in the coming months."

AGREEMENT: Estrella's Alliance Agreement with Cliffs establishes Estrella as the operator, and Cliffs provides US$400,000 per year for two years for regional exploration. The Cliffs-Estrella Alliance focuses on the discovery of IOCG deposits, a type of deposit present in Peru and Chile. Prospective properties meeting certain criteria, including a minimum of US$50,000 in expenditures, will be nominated to Cliffs as "Properties of Merit". Any "Property of Merit" accepted by Cliffs then becomes a Joint Venture Project ("Project") with Cliffs and Estrella each owning an initial 50% interest. Any Property of Merit which is declined by Cliffs shall be released to Estrella.

Cliffs can acquire an additional 20% interest in selected Projects, to a total 70%, by spending a minimum of US$4,000,000 and completing 3,000 meters of drilling within four years of selection. Cliffs will be required to expend a firm commitment of US$500,000. If Cliffs fails to acquire the additional 20%, the property reverts 100% to Estrella Upon earning 70%, Cliffs can acquire an additional 10% interest to a total 80% in selected Projects by completing a NI 43-101 Compliant Pre-Feasibility Study or by defining a compliant Mineral Resource containing a minimum of 1,000,000, ounces of gold or gold equivalent, within four years of earning its 70% interest. If Cliffs elects not to earn an additional 10% interest, Cliffs will pay Estrella US$2,000,000 within 60 days and the parties will fund their proportional interest, subject to conventional dilution. If either party's interest in the Project is reduced to 10%, that interest will be convert to a 2% NSR royalty. The Agreement also provides Cliffs with the option to acquire up to an 80% interest in the Company's Pampa Poroma property, subject to the same terms described above, except Cliffs must spend a minimum of US$2,000,000 by August 31, 2013 to earn its initial 50% interest.

Strategic Exploration Alliance Results        
Properties Evaluated by Estrella - 35        
Properties Acquired for Evaluation  28      
Properties nominated as "Property of Merit"    1   Alliance Property, Cliffs to decide
Properties for Additional IOCG Exploration:    9   Alliance Property, Cliffs is Funding Exploration
Properties Released to Estrella (100%)    18   Estrella begins funding
New Epithermal Gold Properties     6 New Gold Exploration Targets
Properties to be released or ventured     12 Removed from Active Property Inventory
Total Alliance Active Properties     10  

About Estrella Gold Corporation (News - Market indicators):

Exploration is risky and Estrella is seeking to increase the chances of success as a "Prospect Generator" focused on gold exploration in Latin America. Estrella identifies and acquires new mineral properties, and then conducts initial, low-cost exploration to define a potential new deposit. Once defined, Estrella forms joint ventures with other companies that will provide funding and reduce Estrella's risk and expenditures. The Prospect Generator business model allows Estrella to aggressively seek the next major discovery. Estrella has twenty-three (23) active exploration properties in Perú, with fourteen (14) held in venture agreements, most in a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. Of the nine properties held 100% by Estrella, the Company has six new epithermal gold targets, two early stage epithermal gold targets, and the Colpayoc gold-porphyry target which has a NI 43-101 compliant inferred gold resource containing 313,000 ounces of oxide gold (19.3 Mt @ 0.5 g/t gold, Global Geotechnologies Inc.; News Release dated 12/21/2011). The Company has 31.7 million shares issued and outstanding on the TSX Venture Exchange (News - Market indicators). Mr. Keith A. Laskowski, MSc., 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 prepared, reviewed and verified the technical information contained in this news release. Further information is available at Estrella Gold's website: www.estrellagold.com.

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.

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.

Estrella Gold Corporation
Keith Laskowski, M.Sc., QP
President
(720) 272-6224, (303) 235-8099 or (604) 687-3520
(604) 688-3392 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
Data and Statistics for these countries : Chile | Peru | All
Gold and Silver Prices for these countries : Chile | Peru | All

Alianza Minerals Ltd

EXPLORATION STAGE
CODE : ANZ.V
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Alianza Minerals is a gold exploration company based in Canada.

Alianza Minerals holds various exploration projects in Peru.

Its main exploration properties are CAOLPAYOC and PUCARANA in Peru.

Alianza Minerals is listed in Canada. Its market capitalisation is CA$ 1.3 millions as of today (US$ 1.1 millions, € 932 383).

Its stock quote reached its lowest recent point on March 20, 2020 at CA$ 0.03, and its highest recent level on January 08, 2021 at CA$ 0.25.

Alianza Minerals has 33 279 998 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Alianza Minerals Ltd
10/3/2012Estrella Gold Increases Private Placement to $1.1 Million
9/19/2012Estrella Gold Announces Private Placement
9/19/2012Announces Private Placement
7/20/2011Announces Closing of $4,030,000 Private Placement Financing ...
6/20/2011Proposed Private Placement Financing
Nominations of Alianza Minerals Ltd
1/16/2013Appoints John R. Wilson President & CEO
1/16/2013Appoints John R. Wilson President & CEO
10/3/2011Estrella Gold Appoints New CFO and Sets Up New Office
Project news of Alianza Minerals Ltd
9/13/2012Estrella Gold Announces Wide Zones of Gold and Silver Minera...
9/11/2012Estrella Gold Updates Pampa Poroma IOCG Project, Southern Pe...
6/12/2012Estrella Gold Corp. Announces Drilling at La Estrella Gold-S...
5/31/2012Estrella Gold Extends Colpayoc Gold Project Terms
2/6/2012Estrella Gold Announces Drill Program at Pampa Poroma Iron-O...
1/10/2012Estrella Signs Letter of Intent for its Estrella Gold-Silver...
4/25/2011(Pucarana)Announces Drill Program at Pucarana Gold Project, Peru
3/7/2011(Caolpayoc)Program Review and 2011 Exploration Plans
2/16/2011(Caolpayoc)Announces Trench Results from Second Mineralized Zone at the...
4/22/2010(Caolpayoc)NI 43-101 Technical Report on Resources
Corporate news of Alianza Minerals Ltd
7/6/2016Alianza Minerals Completes ISY Work Program In Peru
5/2/2016Alianza Minerals Appoints New Director
4/7/2016Alianza Minerals Closes Second Tranche of Financing
12/15/2015Alianza Minerals Announces New Partner for Yanac Copper Join...
4/21/2015Tarsis and Estrella Received Court Approval; Provide Update ...
4/20/2015IIROC Trading Halt - EST
3/10/2015Tarsis and Estrella Provide an Update on Alianza Transaction...
2/11/2015Tarsis Resources Ltd. and Estrella Gold Corporation to Form ...
12/23/2014Estrella Gold Closes $150,000 Financing
11/24/2014Estrella Gold Announces $200,000 Financing
5/16/2014Callinan Royalties and Estrella Gold Corporation Complete Fi...
5/15/2014Estrella Gold Closes Private Placement for $600,000
5/13/2014Estrella Gold Increases Private Placement to $600,000
5/7/2014Estrella $500,000 Financing Fully Subscribed
4/29/2014Estrella Appoints Jason Weber as President & CEO and Announc...
6/20/2013Partner to Continue Exploration Program at Henry Sur, Peru.
5/7/2013JV Partner Mines Management Reports Positive Exploration Res...
4/19/2013Terminates Colpayoc Agreements
10/29/2012Announces Results of Regional Exploration with Cliffs
10/11/2012Closes Private Placement for $1.1 Million
10/3/2012Increases Private Placement to $1.1 Million
9/13/2012Estrella Gold Announces Wide Zones of Gold and Silver Minera...
9/13/2012Announces Wide Zones of Gold and Silver Mineralization at La...
9/11/2012s Pampa Poroma IOCG Project, Southern Peru
5/4/2012Estrella Gold to be featured by BTV on National TV on May 5t...
2/7/2012Estrella Gold Files Colpayoc NI 43-101 Technical Report and ...
1/31/2012Estrella Gold Featured on CEO Clips and Updates Programs
12/30/2011Estrella Gold Staff Changes
6/30/2011Drills Colpayoc Gold Project, Peru
6/14/2011Announces Drill Program at Colpayoc Gold Project
4/28/2011Acquires New Exploration Targets in Peru
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (ANZ.V)
0.040+0.00%
TSX-V
CA$ 0.040
09/30 13:45 -
0%
Prev close Open
0.040 0.040
Low High
0.040 0.040
Year l/h YTD var.
0.035 -  0.085 -50.00%
52 week l/h 52 week var.
0.035 -  0.095 -42.86%
Volume 1 month var.
10,000 -27.27%
24hGold TrendPower© : 40
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.09+1.00%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 3.26+4.15%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.58+1.93%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.10-9.09%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.43-0.41%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 6.98+0.14%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.26+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.30-3.28%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.22+1.37%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 60.13-1.38%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :