Estrella's JV Partner Mines Management Reports Positive Exploration Results at La Estrella; Elects to Proceed With Second Year
Published : May 07, 2013
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 7, 2013) - Estrella Gold Corporation (News - Market indicators) ("Estrella" or the "Company") is pleased to announce that its joint venture partner Mines Management, Inc. (NYSE MKT:MGN)(TSX:MGT) ("Mines Management") has elected to extend the exploration program at La Estrella gold-silver project in central Peru under the terms of its agreement with Estrella, to earn a 75% interest in the property. Mines Management has notified Estrella of their intent to continue with the project, and they have made their annual earn-in lease payment to the Company. Mines Management has submitted proposed modifications to their previously approved exploration drilling permit to the appropriate Peruvian regulatory agencies, and currently, they are awaiting governmental approval of these modifications.

"Estrella is extremely happy that that Mines Management has decided to continue exploration work on the La Estrella project for a second year. Mines Management's work on the project during 2012 has been encouraging, and both their drilling and 3D-IP/Resistivity work indicate potential for further enlargement of the known mineralized zone. Mines Management is an excellent company to work with, and we anxiously await the results of their next phase of exploration work on the project," stated John R. Wilson, President and CEO.

2012 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). Highlights of the drill program include E-23 with 112.8 meters (m) @ 0.41 grams per tonne (gpt) gold (Au) and 21.4 gpt silver (Ag); E-24 with 160.6 m @ 0.37 gpt Au and 23.0 gpt Ag; and E-25 with 201.4 m @ 0.35 gpt Au and 12.9 gpt Ag. These intercepts expand 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. Mines Management expects that targets for the next phase of drilling will include sites across these newly-recognized chargeability trends. Other targets will include follow-up of structurally-controlled high grade silver intercepts as in E-29 with 26.1 m @ 0.04 gpt Au and 157 gpt Ag. All drillhole data is posted and available for review on Mines Management's website at www.minesmanagement.com.

2013 Activities

Activities thus far in 2013 include the modification of exploration permits to encompass the expanded areas prospective for drilling, and metallurgical studies with completion expected in May, 2013. Activities planned for the remainder of the year will be conducted in accordance with Mines Management's current cash conservation activities.

La Estrella Project

La Estrella property contains approximately 2,500 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. Mines Management conducts work on the project subject to its agreement to earn 75% of the project through US$5 million in exploration activities and a preliminary economic assessment (see News Release April 10, 2012).

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. As previously mentioned, geophysical indications of mineralization include this known area and extend across a strike length of 2000 m and up to 1100 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 (News - Market indicators) 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 twenty-two (22) active exploration properties in Perú, with five (5) held in venture agreements. The Company has 31.6 million shares issued and outstanding, and is listed on the TSX Venture Exchange (News - Market indicators).

Mines Management, Inc.'s VP of Exploration Mr. Michael G. Rasmussen, CPG, 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
John R. Wilson
President and CEO
(604) 687-3520
or
Estrella Gold Corporation
Sandrine Lam
Shareholder Communications
(604) 687-3520
(888) 889-4874 (FAX)
www.estrellagold.com
Data and Statistics for these countries : Peru | All
Gold and Silver Prices for these countries : Peru | All

Alianza Minerals Ltd

EXPLORATION STAGE
CODE : ANZ.V
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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$ 998 400 as of today (US$ 798 273, € 699 287).

Its stock quote reached its highest recent level on January 08, 2021 at CA$ 0.25, and its lowest recent point on November 03, 2022 at CA$ 0.03.

Alianza Minerals has 33 279 998 shares outstanding.

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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
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