Astra Exploration Inc. announced a non-brokered private placement of up to 5,000,000 common shares of the Company at a price of $0.20 per Share for gross proceeds of up to $1,000,000.
Astra's CEO, Brian Miller commented:
This financing gives us the ability to proceed with a Phase II drill
program at La Manchuria later this year, in addition to the
fully-funded Phase I drill program which is mobilizing this week. It
further de-risks our exploration strategy, provides discovery
potential from two drill programs, and builds on our recent momentum
-all while preserving Astra's tight capital structure. Also noteworthy are the approximately $1.7 million of in-the-money warrants held by
management and key shareholders, that if exercised by their November
2025 expiry, would sufficiently fund the Company well into 2026
including both drill programs at La Manchuria.
Astra Exploration Inc. is a precious metals exploration company based out of Vancouver, BC 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 is the most important in Astra Explortion’s portfolio. Located in Santa Cruz province, Astra has an option to acquire 90% interest in La Manchuria, a high-grade gold and silver low sulphidation epithermal deposit located in the prolific Deseado Massif which hosts multiple world-class LSE precious metals deposits including Cerro Vanguardia and Cerro Negro.
Previous drilling produced spectacular gold and silver grades, but focused on delineating a near-surface oxide resource for open pit heap leach mining. This approach diluted the vein grades and never addressed the project’s true potential as a classic high-grade parallel vein system. Drilling was limited to 160m depth, leaving several high-grade drill intercepts open in all directions. Astra is looking to extend these high-grade feeder zones of the shallow disseminated deposit.
The most relevant historical results include:
• 20.5 m at 10.4 g/t gold + 810 g/t silver
• 1.60 m at 257 g/t gold + 4,237 g/t silver
• 4.00 m at 26.3 g/t gold + 3,156 g/t silver
• 2.00 m at 52.6 g/t gold + 3,274 g/t silver
