The warrants were issued in relation to a private placement completed in November 2024, with an expiry of November 7, 2025.
By Panorama Minero
Astra's CEO, Brian Miller commented: "The early exercise of warrants is a major boost of confidence and keeps the company's share structure closely held by our foundational long-term investors. The funds from this warrant exercise, plus $1,000,000 from the recently-announced non-brokered private placement offering, would bring the treasury balance to over C$3,000,000.
We are also pleased to announce that drilling is underway and on-schedule at La Manchuria, where testing for extensions of near-surface, high-grade gold and silver veins has commenced in previously undrilled areas. Astra shareholders are at a watershed moment as the Company accelerates through multiple catalysts while precious metals restore their historic role as hedge against inflation and market volatility."
Commencement of Drilling at La Manchuria
Drilling equipment was mobilized to the La Manchuria project during the week of March 31st, and drilling commenced early the week of April 6th. The program will consist of approximately 2,500 metres of DDH drilling in 10-15 holes and is expected to take approximately six weeks to complete.
The goal of the drill program is to expand the near surface, high-grade gold and silver intercepts defined by historical drilling, into areas which have not been previously drill-tested. This will include targets along strike with, and parallel to, known high-grade veins and extensions at depth. The Company plans to update the market with further details regarding drill targets in the coming weeks.
Astra Exploration Inc. is a Canadian precious metals exploration company that is actively building a portfolio of high-quality projects in some of the most important mining jurisdictions in Latin America.
The La Manchuria gold-silver project in Santa Cruz province, over which Astra has an option to acquire 90% interest, is a high-grade gold and silver low sulphidation epithermal (LSE) deposit located in the prolific Deseado Massif which hosts multiple world-class LSE precious metals deposits including Cerro Vanguardia and Cerro Negro.
