Astra Exploration Inc. (TSXV: ASTR) has completed the acquisition of a 20% interest in the Pampa Paciencia project located in Northern Chile previously held by Sociedad Quimica y Minera de Chile S.A (SQM). After the Acquisition, Astra holds a 100% interest in the Pampa Paciencia Project.
“We are pleased to complete this consolidation of our flagship project. The acquisition of 100% in the Pampa Paciencia Project is a positive and strategic move by Astra which increases upside potential to Astra shareholders,” CEO, Brian Miller, said.
“We would like to thank SQM and their management team for their commitment in finalising this transaction and we look forward to having them as Astra’s newest shareholders.”
In connection with the Acquisition, Astra issued 1,455,208 common shares to Sociedad Quimica y Minera de Chile S.A. pursuant to the terms of the purchase and sale agreement at a deemed value of $174,625 based on the company’s closing price of $0.12 per share on November 2, 2022.
About Pampa Paciencia
Pampa Paciencia is a 3,840 hectare road-access low sulphidation epithermal (LSE) gold-silver project located within an active mining district less than 15 kilometres from two major mines (Sierra Gorda and Spence) and five kilometres from the Faride LSE mine.
Astra has completed drilling, mapping and sampling, geophysical surveys, and localised trenching, at the Pampa Paciencia Project, and in doing so has defined a vein boulder field over approximately 75% of the project area.
The veins do not outcrop as the majority of the project area is covered by a thin layer of gravels and caliche but the vein float can be used to identify areas of high prospectively. To date, Astra has defined over two kilometres of thick vein structure averaging 10-15 metres estimated true thickness which hosts three zones of high-grade gold mineralisation.
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