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Estrella Announces New Joint Venture with Cliffs on Yanac Porphyry Copper Project, Peru
Property of Merit Confirmed for Joint Venture
December 04, 2012 16:15 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4, 2012) -
Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce that Cliffs Natural Resources Exploration Inc., a wholly owned subsidiary of Cliffs Natural Resources Inc. (NYSE:CLF)(Paris:CLF) ("Cliffs"), has accepted the Yanac Property as a Joint Venture Project. Cliffs and Estrella each now hold a 50% interest in the property, and Cliffs must spend a firm commitment of US $500,000 in year one on exploration or payment to Estrella; with an additional US $250,000 (not firm) to a total of US $750,000 to maintain their interest beyond year one. Details of the Agreement are included below.
The Yanac Project is located 50 km northwest of the town of Chincha in the department of Ica in south-central Peru. The project contains 5,200 hectares that were acquired by Estrella through concession applications in April of 2011 within the Exploration Alliance Agreement with Cliffs (see prior news releases). Results to date identify a prospective outcropping area covering 1.0 km x 0.75 km containing a porphyry-copper style quartz-iron oxide stockwork zone, with 3 centers of silicification, within a phyllic alteration zone. The alteration and mineralization is hosted by a plagioclase-hornblende-biotite quartz-eye porphyry intrusion of probable Cretaceous age. Initial rock samples over a 300 x 200 meter area returned copper values ranging from 0.12- 2.9%, with 8 of those samples greater than 0.74%. A systematic grid sampling program was completed with three hundred and five (305) samples of approximately one meter square chip samples, collected on a 100 meter square grid. Assay results identify a continuous core area containing 0.2 - 2.8% copper covering an area extending approximately 900 meters (north-south) by 400 meters (east-west). Copper mineralization is closely related to stockwork development within this porphyry system. Outcropping mineralization occurs within a zoned ASTER alteration anomaly which suggests that the mineralized system may be much larger, extending beneath surrounding covered areas. The outcropping copper mineralization occurs within phyllic, or sericitic facies alteration assemblages which suggests that higher grade, and/or larger areas of copper mineralization may be present at depth. The property contains four historical drill holes located outside the main zones of mineralization, however analytical results are not available.
Mr. Mark Brown, President and CEO of Estrella, commented, "Yanac is an exciting new porphyry copper discovery that provides Estrella with the upside of a major deposit, if exploration is successful. The identification and selection of Yanac demonstrates the benefits of our prospect generator model."
EARN-IN TERMS: Cliffs can acquire an additional 20% interest in the Yanac Project, to a total 70% interest, by spending a minimum of US$4,000,000 (including the above mentioned US$750,000) and completing 3,000 meters of drilling within four years of selection. If Cliffs fails to acquire the additional 20%, the property reverts to Estrella. Upon earning 70%, Cliffs can acquire an additional 10% interest in the Yanac Project, to a total 80% by completing an 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.
QA/QC: Rock samples were collected as described and in accordance with accepted industry standards and procedures. The samples were submitted to the ALS Chemex Labs (ISO 9001:2000 accredited) in Lima, Peru for analysis. Gold was analyzed by fire assay with an AAS finish and multi-element analyses were determined with aqua regia digestion and ICP MS/AAS techniques. The Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks and field duplicates.
About Estrella Gold Corporation (TSX VENTURE:EST) - 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. 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 (TSX VENTURE:EST). Mr. Keith A. Laskowski, MSc., is the Company's 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.
Contact Information
Estrella Gold Corporation
Mark Brown, CA
President and CEO
(604) 687-3520
(888) 889-4874 (FAX)
mtbrown@pacificopportunity.com
www.estrellagold.com
__________________________________________________________
http://www.marketwire.com/press-release/estrella-announces-new-joint-venture-with-cliffs-on-yanac-porphyry-copper-project-peru-tsx-venture-est-1733708.htm
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Estrella Announces Appointment of Interim CEO and VP Exploration / - Mark T. Brown, B. Comm, CA, appointed interim CEO - Keith Laskowski to take on new role with World Bank
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/03/12 --
Estrella Gold Corporation (TSX VENTURE: EST) ("Estrella" or the "Company") is pleased to announce that Mark T. Brown has been appointed Interim President and CEO. Mr. Brown was appointed a director of the Company in July 2011 and has assisted Estrella in completing the last two financings. Mr. Brown has been involved in the public company markets for the past 18 years focussing on the financing aspects of the junior resource market. He was the founder of Rare Element Resources Ltd. and has raised all of the funds for Rare Element since inception. Mr. Brown has been an officer and director of several successful companies and invests in those companies through Pacific Opportunity Capital Ltd. which also provides M&A consulting services, raises funds, and provides financial management services.
Mr. Keith Laskowski has stepped down from his positions as Director, President and CEO of the Company to accept an appointment with the International Finance Corporation, a division of the World Bank, based in Washington D.C. Estrella has benefitted greatly from Mr. Laskowski's leadership and geological talents and is pleased that Mr. Laskowski is moving into his new role which has the ability to positively affect exploration and mining worldwide.
Mr. Brown commented that "I will be holding the reins at Estrella until a suitable replacement is found. It has been great to work with Keith and Estrella has benefitted greatly in Peru from his work. While we will miss Keith at Estrella, the group is pleased that he has been offered such a prestigious role in mineral exploration."
About Estrella Gold Corporation (TSX VENTURE: EST) 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 Peru, 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 (TSX VENTURE: EST). 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.
Contacts:
Estrella Gold Corporation
Mark Brown, B Comm., CA
Direct: (604) 687-3520
(888) 889-4874 (FAX)
mtbrown@pacificopportunity.com
www.estrellagold.com
_________________________________________________________
http://www.finanznachrichten.de/nachrichten-2012-12/25348866-estrella-announces-appointment-of-interim-ceo-and-vp-exploration-mark-t-brown-b-comm-ca-appointed-interim-ceo-keith-laskowski-to-take-on-256.htm
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Estrella Announces Results of Regional Exploration with Cliffs
Marketwire - Canada
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 29, 2012) -
Estrella Gold Corporation (TSX VENTURE:EST) ("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 28 Evaluation ---------------------------------------------------------------------------- Properties nominated as 1 Alliance Property, Cliffs to "Property of Merit" decide ---------------------------------------------------------------------------- Properties for Additional IOCG 9 Alliance Property, Cliffs is Exploration: Funding Exploration ---------------------------------------------------------------------------- Properties Released to Estrella 18 Estrella begins funding (100%) ---------------------------------------------------------------------------- New Epithermal Gold Properties 6 New Gold Exploration Targets ---------------------------------------------------------------------------- Properties to be released or 12 Removed from Active Property ventured Inventory ---------------------------------------------------------------------------- Total Alliance Active Properties 10 ----------------------------------------------------------------------------
About Estrella Gold Corporation (TSX VENTURE:EST):
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 Peru, 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 (TSX VENTURE:EST). 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.
FOR FURTHER INFORMATION PLEASE CONTACT: 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
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.
_______________________________________________________
http://www.equities.com/news/headline-story?dt=2012-10-29&val=644001&cat=material
CSRFF
Estrella Gold Increases Private Placement To $1.1 Million
October 03, 2012
Estrella Gold Corporation (TSXV: EST) ("Estrella" or the "Company") is pleased to announce that the non-brokered private placement offering announced on September 18, 2012 has been over-subscribed. Estrella has increased the offering from $750,000 to $1,133,250 or 7,555,000 units and the offering is fully subscribed.
Two strategic shareholders decided to increase their positions significantly and this has oversubscribed the financing. Each of these shareholders have been long term investors in Estrella and supporters of the prospect generator model which Estrella follows.
Estrella will use the proceeds on several strategic fronts which include:
advancing three of Estrella's gold targeted Peruvian properties;
continuing Joint Venture negotiations on current projects;
exploring 4 licenses under application in the Dominican Republic; and,
for working capital and general corporate purposes.
Each Unit is comprised of one common share and one non-transferable warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one common share at an exercise price of $0.25 per share for three years following the date of the closing. The Offering is subject to TSX Venture Exchange acceptance and is expected to close shortly.
The securities issued pursuant to the Offering will all be subject to a 4 month regulatory hold period commencing from the date of closing.
About Estrella Gold Corporation (TSX-V: EST) 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 thirty-five exploration properties in Perú, with thirty-two held in venture agreements, most in a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. Of the four properties held 100% by Estrella, the Company also established a NI 43-101 compliant inferred resource containing a minimum of 313,000 ounces of oxide gold at its Colpayoc Project in Peru (from 19.3 Mt @ 0.5 g/t gold, NI 43-101 Inferred Resource, 2011 Global Geotechnologies Inc.; News Release dated 12/21/2011). The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX-V: EST). 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.
For further information, contact:
Estrella Gold Corporation
Keith Laskowski President/CEO, MSc./QP,
Direct Tel: (720) 272-6224, (303) 235-8099 or (604) 687-3520
Fax: (888) 889-4874
Email: klaskowski@estrellagold.com
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. 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.
_____________________________________________________
http://www.estrellagold.com/s/NewsReleases.asp?ReportID=551135
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Estrella Gold Announces Private Placement
VANCOUVER, BRITISH COLUMBIA, Sep 19, 2012 (MARKETWIRE via COMTEX) --
Estrella Gold Corporation CA:EST +6.25% ("Estrella" or the "Company") is pleased to announce a non-brokered private placement offering of up to 5,000,000 units (each a "Unit") at $0.15 per Unit for gross proceeds of up to $750,000 (the "Offering").
Estrella will use the proceeds on several strategic fronts which include:
(i) advancing three of Estrella's gold targeted Peruvian properties;
(ii) continuing Joint Venture negotiations on current projects;
(iii) exploring 4 licenses under application in the Dominican Republic; and,
(iv) for working capital and general corporate purposes.
Each Unit is comprised of one common share and one non-transferable warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one common share at an exercise price of $0.25 per share for three years following the date of the closing. In connection with the Offering, the Company may pay eligible persons (the "Finders") a finder's fee equal to up to 5% of the gross proceeds from the Units placed by the Finder in cash and also issue up to 10% of finder's warrants (each a "Finder's Warrant") equal to 10% of the total number of Units placed through each Finder under the Offering. Each Finder's Warrant entitles the holder to acquire one Unit of Estrella at $0.15 for a period of 36 months from the closing date of the Offering. The Offering is subject to TSX Venture Exchange acceptance.
The securities issued pursuant to the Offering will all be subject to a 4 month regulatory hold period commencing from the date of closing.
About Estrella Gold Corporation CA:EST +6.25% 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 thirty-five exploration properties in Peru, with thirty-two held in venture agreements, most in a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. Of the four properties held 100% by Estrella, the Company also established a NI 43-101 compliant inferred resource containing a minimum of 313,000 ounces of oxide gold at its Colpayoc Project in Peru (from 19.3 Mt @ 0.5 g/t gold, NI 43-101 Inferred Resource, 2011 Global Geotechnologies Inc.; News Release dated 12/21/2011). The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange CA:EST +6.25% . 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.
Contacts:
Estrella Gold Corporation
Keith Laskowski
President/CEO, MSc./QP
(720) 272-6224, (303) 235-8099 or (604) 687-3520
(888) 889-4874 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
SOURCE: Estrella Gold Corporation
mailto:klaskowski@estrellagold.com
http://www.estrellagold.com
___________________________________________________
http://www.marketwatch.com/story/estrella-gold-announces-private-placement-2012-09-19
CSRFF
Estrella Gold Announces Wide Zones of Gold and Silver Mineralization at La Estrella Project, Central Peru
• DDH E-29 includes 23.4 meters of 0.97 gpt gold
• Seven holes intercept gold over 100 meters or more
• Optionee Mines Management planning additional exploraiton
Vancouver, Canada, September 13, 2012 -- Estrella Gold Corporation (TSX V: EST) ("Estrella" or the "Company") is pleased to announce drill results from the recently completed core program at the Company's namesake La Estrella gold-silver project, located within the Central Peru polymetallic belt. Mines Management, Inc. (NYSE-MKT: "MGN", TSX: "MGT") is funding the exploration program and can earn a 75% interest in the property.
Eight recently completed holes totaling approximately 2,700 meters were designed to test the south-western extent of a large gold and silver mineralized zone, which remains open to the north, south, and west. Seven of the eight holes intersected gold and silver mineralization exceeding 100 meters in thickness. Previous drilling on the property, totaling approximately 5,800 meters among 33 holes, intersected mineralization approximately 1,800 meters in length along strike north to south by 300 meters wide east to west. The known mineralization defines a tabular, west dipping, stratabound zone up to 200 meters thick that crops out to the east.
The property hosts a volcanic-hosted epithermal gold-silver system with associated base-metal mineralization in a north-south trending graben. The eight recently completed holes were drilled to depths ranging from 200 -- 509 meters. Significant gold and silver mineralization was intersected in 7 of the holes with mineralized intervals ranging from 93 -- 201 meters. Drill holes were spaced along a 500 meter strike and 300 meters width with the following significant intercepts: (See Appendix I for location details):
(Click link below for charts)
Reported intervals were selected based upon general in situ economic value above $25.00 per tonne, metals prices were assumed at $1,000 gold and $20.00 silver.
Mr. Keith Laskowski, QP, President and CEO of Estrella commented "We are pleased with the results from the recent drill program which have confirmed the presence of a large mineralized gold-silver system, that remains open for further expansion. The planning and work by the team has verified and extended the previous mineralization model, and they have done a very efficient and professional job completing the entire program, from planning to reclamation within 6 months."
Drill hole samples were collected in 1-2 meter intervals in accordance with accepted industry standards and procedures. The samples were submitted to the ALS Chemex Labs (ISO 9001:2000 accredited) in Lima, Peru for analysis. Gold was analyzed by fire assay with an AAS finish and multi-element analyses were determined with aqua regia digestion and ICP MS/AAS techniques. The Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks and field duplicates.
FUTURE EXPLORATION PLANS: Mines Management has performed sufficient activities and expenditures to complete its work commitments for the year and is pleased that results warrant additional exploration. Analysis, interpretation, and modeling of these results are ongoing and will form the basis for future activities. Future exploration programs will primarily seek to (1) delineate the extent of La Estrella mineralization, (2) define the orientation and extent of high grade silver veins and structures, (3) conduct sufficient infill drilling for rigorous resource calculation, and will include metallurgic and additional geophysical studies.
Michael G. Rasmussen, PhD, Vice President of Exploration for Mines Management, Inc., 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 reviewed and approved the technical information contained in this news release.
AGREEMENT WITH MINES MANAGEMENT: The property is being explored subject to Estrella' s Agreement with Mines Management which allows Mines Management to acquire a 75% interest in the property by spending $5,000,000 in work commitment, and by making the following payments: ( amounts are US$): (Click link for table)
Payments: On Signing:
Year 1 Anniversary Payment:
Year 2 Anniversary Payment:
Subsequent Anniversaries: $ 50,000
$100,000
$200,000
$200,000 (Until exercising its Option)
Work Expenditures Year 1:
Year 2: $500,000 including 2,500 meters of drilling
$500,000 including 2,500 meters of drilling
COMMUNITY RELATIONS UPDATE
The local community has demonstrated cordial relations toward the project throughout the program, and much effort on the part of the Company has been directed toward communication and community involvement. The exploration program has been designed to use community labor in the construction of drill platforms and access roads, and has utilized manually-portable drilling equipment. All excavation work has been manually performed and has preserved soil layers in an organized manner, to provide for restoration when reclamation is underway. An exploration camp under the direction of ExploSupport, Lima, has provided continuous logistic support for the project.
About Estrella Gold Corporation (TSX-V: EST) Estrella is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella has 35 exploration properties in Perú, with thirty-two held in Venture Agreements. Estrella holds 29 properties within the exploration area that is subject to its Alliance Agreement with Cliffs. The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX-V: EST). The Company has three other properties that are available for Venture Agreements. 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 reviewed and verified the technical information contained in this news release. Further information is available at Estrella Gold's website: www.estrellagold.com.
For further information, contact:
Estrella Gold Corporation
Keith Laskowski
President , MSc., QP,
Direct Tel: (720) 272-6224, (303) 235-8099 or (604) 687-3520
Fax: (604) 688-3392
Email: klaskowski@estrellagold.com
To learn more visit: www.estrellagold.com
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. 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.
Appendix I -- Drill Hole Locations and Orientations
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http://www.estrellagold.com/s/NewsReleases.asp?ReportID=547804
CSRFF
Big deal that Estrella is partnering with Cliff (CLF) on this and other properties. Also partners with Mines Management (MGN). Shows that there is a lot of confidence in this company. Only a matter of time until it pays off for this stock.
CSRFF
Estrella Gold Updates Pampa Poroma IOCG Project, Southern Peru
Vancouver, Canada, September 11, 2012 -
Estrella Gold Corporation (TSX V: EST) ("Estrella" or the "Company") is pleased to announce the results from the recent drilling program and future plans for its Pampa Poroma project in the Department of Ica, southern Peru. Estrella recently completed 11 drill holes testing four new target areas. Results are favorable for this early stage, grassroots program and additional follow-up work is being planned, including ground geophysics and drilling. The Pampa Poroma property contains an iron oxide-copper-gold exploration target ("IOCG") located approximately 20 km northeast of the Marcona-Mina Justa Iron Oxide Copper Gold district which contains at least three major IOCG deposits. The Marcona and Mina Justa deposits each contain between 400 million to 1.4 billion tonnes of iron-oxide-copper-gold resources. Pampa Poroma is held in an Alliance Agreement with Cliffs Natural Resources Exploration Inc., a wholly owned subsidiary of Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) ("Cliffs"). Estrella is the program operator and Cliffs provides all funding.
Estrella completed 11 wide spaced, reconnaissance exploration core holes (2,424.2 meters) in four target areas. Drill holes were inclined from -55° to -80° and were drilled to depths ranging from 125 - 277 meters. Each target area was defined based on geological interpretation of geophysical studies (magnetics and gravity), rock samples, and alteration mapping. The geology of the area contains highly altered Cretaceous andesitic volcanic rocks that form small outcrops within a magnetite-rich alluvium-filled valley. The best drill results were obtained from drill holes PPO-6 and 9 which are listed below: (click link below for table)
A total of seven of the eleven drill holes intersected elevated copper mineralization in the range of 0.05 - 0.35% copper in addition to the above intervals. Anomalous intervals ranged from 20 - 108 meters in width and copper mineralization is accompanied by variable but elevated concentrations of cobalt, gold, molybdenum, manganese, nickel, and arsenic. The large areas of low grade mineralization may be peripheral to areas containing higher grade, economic mineralization which will be the subject of further exploration.
EXPLORATION PLAN: The results of these initial, wide-spaced drill holes have identified a prospective target area for follow-up at the Compara Prospect. Estrella is now planning ground geophysical surveys to help identify follow-up drill targets. Geophysical surveys are planned for 4Q 2012. Results of this survey will be used to determine if additional drilling will be completed. Mr. Keith Laskowski, QP, President and CEO of Estrella commented "Our initial exploration programs at Pampa Poroma represent a textbook example of prospect generation. With the solid support of Cliffs we have been able to complete systematic exploration programs resulting in identification of a potentially significant target. It is unrealistic to conduct grassroots exploration resulting in the discovery of a new deposit, with the first round of drilling. However we have obtained encouraging results that warrant the next step of exploration, and we are pleased that Cliffs will support the completion of additional geophysical surveys."
AGREEMENT: In accordance with the terms of the Alliance Agreement, all work on the Pampa Poroma property conducted by Estrella since entering into the Alliance Agreement has been funded by Cliffs. Under the terms of the Alliance Agreement, Cliffs can earn an initial 50 percent interest in the Pampa Poroma project by making exploration expenditures of US$2 million by August 31, 2013, including a minimum of US$750,000 by August 31, 2012 which has been met. Estrella will operate the Pampa Poroma project until such time as Cliffs elects to take over as operator. Cliffs must spend an additional US$4 million and complete 3,000 meters of drilling within 4 years of earning its 50 percent interest, to earn an additional 20 percent, for a total 70 percent interest. If Cliffs fails to earn a 70 percent interest, the property will revert back to Estrella (100%) subject to Estrella granting an NSR royalty to Cliffs, based on the amount of expenditures Cliffs has made on the property. If Cliffs has spent a minimum of US$1,000,000 but less than US$3,000,000 they will receive a 0.5 percent NSR royalty. If Cliffs has spent at least US$3,000,000 but less than US$4,000,000 they will receive a 1.0 percent NSR royalty. Cliffs can acquire an additional 10 percent interest for a total 80 percent interest in Pampa Poroma, by completing a NI 43-101 compliant Pre-Feasibility Study or by defining a NI 43-101 compliant Inferred Mineral Resource containing a minimum of 1,000,000, ounces of gold or gold equivalent, within four years of earning its 70 percent interest. If Cliffs elects not to earn an additional 10 percent interest, Cliffs will pay Estrella $2 million within 60 days and the parties will fund their proportional interest on a 70/30 basis, subject to conventional dilution. If either party's interest is reduced to 10 percent or less, that interest will be converted to a 2 percent NSR royalty.
QA/QC: Drill hole samples were collected in 1-2 meter intervals in accordance with accepted industry standards and procedures. The samples were submitted to the ALS Chemex Labs (ISO 9001:2000 accredited) in Lima, Peru for analysis. Gold was analyzed by fire assay with an AAS finish and multi-element analyses were determined with aqua regia digestion and ICP MS/AAS techniques. The Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks and field duplicates.
About Estrella Gold Corporation (TSX-V: EST) The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX-V: EST). Estrella is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella has 35 exploration properties in Perú, with thirty-two held in Venture Agreements. Estrella holds 29 properties within the exploration area that is subject to its Alliance Agreement with Cliffs. The Company has a NI 43-101 compliant inferred resource containing a minimum of 313,000 ounces of gold at its Colpayoc Project in Peru (from 19.3 Mt @ 0.5 g/t gold, NI 43-101 Inferred Resource, 2011 Global Geotechnologies Inc., News Release dated 12/21/2011), and two other properties that are available for Venture Agreements. 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.
-30-
For further information, contact:
Estrella Gold Corporation
Keith Laskowski President , MSc., QP,
Direct Tel: (720) 272-6224, (303) 235-8099 or (604) 687-3520
Fax: (604) 688-3392
Email: klaskowski@estrellagold.com
To learn more visit: www.estrellagold.com
_______________________________________________________
http://www.estrellagold.com/s/NewsReleases.asp?ReportID=547487
CSRFF
Trenching during El Rayo Shows Expanded Potential for Soltoro
Written by Labfit on June 27, 2012. Posted in Gold
Estrella Gold Corporation:Gold Prospect Generation in Peru
Estrella Gold Corporation (TSXV: EST) is a “Prospect Generator” dedicated to creation new bullion discoveries in Peru. Based in Vancouver, British Columbia, Estrella Gold Corporation has 32 scrutiny properties in Peru, with 28 hold in try agreements where a try partner is appropriation all programs. Estrella seeks to optimize any property’s particular value by conducting scrutiny activities possibly directly or by corner ventures with competent try partners.
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http://www.labfit.com/2012/06/trenching-at-el-rayo-shows-expanded-potential-for-soltoro/?utm_source=rss&utm_medium=rss&utm_campaign=trenching-at-el-rayo-shows-expanded-potential-for-soltoro
CSRFF
Estrella Gold Corporation:Gold Prospect Generation in Peru
Written by Labfit on June 17, 2012.
Overview
Estrella Gold Corporation (TSXV:EST) is a “Prospect Generator” company, focused on finding new bullion resources in Latin America. Exploration is high risk, and Estrella increases a chances for successful growth of a vital new cave with a awaiting era strategy. The Company focuses on creation early theatre discoveries of impending properties and afterwards fast forms corner ventures with comparison mining companies to account modernized scrutiny and development,and tying shareholder dilution. Estrella has 32 properties in Peru (only), with 28 of these properties saved by other companies by vital Joint Venture agreements with 4 apart companies. Estrella has a really tiny marketplace top with 24.1 million shares released and trades with a outrageous portfolio of properties, including one NI 43-101 agreeable flourishing bullion resource.
The Company has a vital scrutiny fondness with Cliffs Natural Resources Exploration Inc. (NYSE:CLF) whereby Cliffs account scrutiny and analysis of twenty-four properties identified and acquired. Estrella Gold Corporation now has 4 remaining properties that are accessible for corner venture. These embody a Colpayoc Gold project, that has a NI 43-101 agreeable unspoken bullion apparatus containing a smallest of 313,000 ounces of oxide bullion (0.3 g/t cut-off), a Cerro Cori porphyry copper-gold project, a Ccello high-sulfidation bullion project, and a Sense epithermal bullion project.
Investment Highlights
32 Gold Exploration Properties in Peru
28 Properties hold in Joint Ventures, 4 remaining properties accessible for Joint Venture
Four remaining properties accessible for Joint Venture: Colpayoc, Ccello Ccello, Cerro Cori and Sense
Gold Resources: +313,000 ounces NI 43-101 agreeable unspoken bullion resource-Colpayoc
Strategic Exploration Alliance with Cliffs Natural Resources for iron oxide – copper-gold
Experienced and successful find group in place
Cliffs -Estrella Alliance
The Cliffs-Estrella Alliance is a corner scrutiny program, where Cliffs provides appropriation and guidance, and Estrella manages and operates a program. The Alliance is focused on a find of iron oxide-copper-gold (IOCG) deposits in a southern Peru IOCG turf that hosts a universe category Marcona Deposit and a circuitously Pampa Poroma project. Cliffs is rarely gifted in a evaluation, growth and operation of ferro-alloy lead mines and an ideal partner for IOCG scrutiny in Peru. Cliffs has an disdainful right to acquire adult to 80 percent seductiveness in any skill that is acquired. Prospective properties that have perceived a smallest investment of US$50,000 in scrutiny expenditures, saved by Cliffs, might be nominated to Cliffs as a “Property of Merit”. Any Property of Merit supposed by Cliffs afterwards becomes a plan for continued scrutiny with Cliffs and Estrella any owning a 50 percent interest.
Cliffs is an industry-leading general mining and healthy resources company, with an assertive module to learn new IOCG deposits in Peru. The agreement provides Estrella and their shareholders with a intensity for poignant rewards. Each Property of Merit that is comparison has a smallest output requirement of US$500,000, within a initial year output requirement of US$750,000. Cliffs is compulsory to possibly allege their tenure to 70 percent by appropriation a smallest of US$4,000,000 including 3,000 meters of drilling within 4 years of selection, or obey a skill behind to Estrella. If Cliffs fails to acquire a 70 percent, a skill will return behind to Estrella (100%) theme to Estrella extenuation a tiny NSR kingship to Cliffs, formed on a volume of expenditures Cliffs has done on a property.
Once Cliffs obtains a 70% interest, they contingency elect possibly to acquire an additional 10 percent seductiveness in a skill or they can sojourn 70 percent owners by arising a remuneration of US$2,000,000 to Estrella. To acquire a additional 10% interest, Cliffs can possibly finish a NI 43-101 agreeable Pre-Feasibility Study or conclude a NI 43-101 agreeable vegetable apparatus guess containing a smallest of 1,000,000, ounces of bullion or bullion equivalent, within 4 years.
Key Properties
Pucarana Gold Project Joint Venture
The Pucarana bullion plan contains 1,889 hectares of land located in a Orcopampa Silver – Gold district of Peru. The skill is located between Buenaventura Mines’ Poracota Mine and Chipmo Mine. Pucarana is 3 kilometers southwest along trend from a Chipmo mine, that constructed some-more than 290,000 ounces of bullion in 2010 from high class subterraneous capillary mining.
Together, Poracota and Chipmo constructed 360,000 ounces of bullion and 131,000 ounces of china in 2010, indicating that a district contains really poignant intensity for additional mineralization. Pucarana contains bullion and china mineralization hosted in quartz capillary zones, and compared with enlightened epithermal alteration zones. The plan is a corner try with Esperanza Resources as user with Estrella holding a 40% interest. Pucarana is located along trend from a stream operations of Buenaventura and might horde extensions of a mineralized structures.
La Estrella Gold-Silver Property
Estrella’s “namesake” La Estrella skill contains 2,500 hectares in a Central Peru polymetallic belt, Department of Huancavelica. This is a segment with a story of china mining dating to a 1500's. The La Estrella skill contains poly-phase bullion and china mineralization. The Project area contains precocious roads and electricity, and is located 30 km north of a Julcani Silver Mine that began operations in 1955. Previous drilling during La Estrella enclosed 5,796 meters of core and RVC in 33 holes. The drilling identified a mineralized area approximately 1,800 meters prolonged and 300 meters far-reaching that stays open along strike and during depth. Drilling has tested usually 200 meters next a surface.
Wide intervals of gold and china mineralization, averaging 133.5 meters, are benefaction in 18 holes. Estrella’s studies have identified a smallest of 35 million tonnes of mineralization that is open during abyss for expansion. Mines Management is now seeking to acquire a 75% seductiveness in a skill by spending a smallest of US$5,000,000 on scrutiny and US$500,000 in payments, and by producing a NI 43-101 agreeable Preliminary Economic Assessment. Estrella’s 25% seductiveness will afterwards be carried to production, with costs paid behind from initial production. A 2,500 scale drilling module is now in swell with formula approaching during a Q3 of this year.
Isy Gold-Silver Property
The Isy Gold-Silver skill contains 3,100 hectares located in a Department of Ayucucho and has been optioned to Lara Exploration. The plan is an early theatre scrutiny skill acquired and is underlain by Miocene volcanic rocks containing endless epithermal alteration. Estrella Gold has finished initial reconnoitering mapping and sampling that has reliable a participation of supernatural bullion values in dual locations, with compared rarely supernatural epithermal-suite metals. The Option Agreement grants Lara a disdainful right to acquire a 100% seductiveness in a skill within 3 years and provides a 1.5% NSR kingship to Estrella. Lara contingency make a following choice payments to Estrella :
On Signing: $ 30,000
On or before year 1 Anniversary Payment: $ 50,000
On or before year 2 Anniversary Payment: $ 75,000
On or before year 3 Anniversary Payment: $100,000
On or before year 3 Anniversary Stock: 50,000 shares of LRA
Lara has a choice to squeeze 50% of a 1.5% kingship for US$3,000,000 within one year of derivation of production. Estrella and Lara might elect to have a initial and second anniversary payments done all or in partial in stock.
Colpayoc Gold Project
The Colpayoc plan contains some-more than 5,400 hectares, located in a Yanacocha Gold District, a largest bullion district in South America. The Colpayoc Gold Property is a apparatus theatre bullion plan with multi-million unit potential. There are 4 areas of bullion mineralization, including a Daylight Gold Zone that has a NI 43-101 agreeable unspoken bullion apparatus containing a smallest of 19.8 Mt during 0.5 g/t with 313,000 ounces of gold. The apparatus is roughly wholly oxidized and a bullion section is open in all directions during a abyss for and there are 3 other targets to be explored on a property. The finish NI 43-101 news is accessible during www.estrellagold.com.
Summary
Estrella Gold Corporation is a “Prospect Generator” on with a vital business indication that is designed to strengthen shareholder value, by attracting partners to account scrutiny of a skill portfolio. Estrella is receiving appropriation and payments, that concede it to keep a series of shares really low, while augmenting a value of a vegetable portfolio. As scrutiny advances, payments to Estrella should increase, and a Company will continue exploring for new discoveries.
Management
Keith A. Laskowski, MSc., President, CEO Director
Mr. Laskowski binds an MSc in Geology from a Colorado School of Mines and has some-more than 30 years of knowledge in changed and bottom metals exploration, uranium scrutiny and cave geology. He has served as President of Estrella Gold Corporation given 2009, and is a “Qualified Person” as tangible in National Instrument 43-101 of a Canadian Securities Administrators. Over a past 12 years Mr. Laskowski has fabricated and destined successful private and publicly listed scrutiny companies located in Peru, Mongolia, Haiti, Mali, a United States and Canada, and has led a merger of some-more than 75 gold, uranium and copper scrutiny properties.
Gregory R. Harris, L.L.B., Chairman Director
Mr. Harris is a counsel and has been a member of a Law Society of Alberta given 1979 and formerly a member of a Law Society of British Columbia in 1972. Mr. Harris perceived his B.A. in 1971 and his L.L.B. in 1972 from a University of Alberta. His authorised use is singular to bonds law. He is a executive of Poplar Creek Resources Inc., a TSX Venture Exchange listed oil and gas association and Antioquia Gold Inc., a TSX Venture Exchange listed vegetable scrutiny company.
Donald R. Taylor, M. Sc., Director
Mr. Taylor is Vice President of Exploration for Wildcat Silver Corporation. He is a seasoned scrutiny and mining geologist with over 30 years of general knowledge in North and South America, China, Africa, Australia and Ireland. He spent 10 years with BHP Minerals in comparison government positions from 1989 to 1999. Most recently Mr. Taylor was Exploration Manager and Vice President of Exploration for The Doe Run Company from 1999 to 2010. Mr. Taylor binds a Master’s of Science grade from a University of Missouri-Rolla and is a Registered Professional Geologist, Fellow of a Society of Economic Geologists and member of a Society of Mining Engineers.
Fernando Pickmann, Director
Mr. Pickmann is a practicing lawyer, formed in Lima, Peru and brings some-more than 15 years of blurb and mining law knowledge to a Company. Mr. Pickmann perceived his Professional Degree in Law from a University of Lima in 1994 and his Masters Degree in Law (L.L.M) specializing in Business Legal Advice from a Law School during a Instituto de Empresa IE in Madrid Spain in 1997. He worked for Centromin Perú S.A., a Pervúvian Government’s administration for a privatization routine from 1997-98 and has used law in private firms given 1998. Currently Mr. Pickmann is a Mining Law clergyman in Lima University and also clergyman of Strategic Alliances in a LLM module of a Lima University.
Mark Brown, B.Comm., C.A., Director
Mr. Brown is boss and executive of Pacific Opportunity Capital Ltd. Headquartered in Vancouver, BC, Pacific Opportunity is a financial consulting and businessman banking organisation active in try collateral markets in North America. Mr. Brown is also an officer and/or executive of a series of companies, including Almaden Minerals, Animas Resources, Avrupa Minerals, Pitchstone Exploration, and Tarsis Resources. Mr. Brown has a B.Comm. from a University of British Columbia and became a Chartered Accountant while with PriceWaterhouseCoopers in 1993.
Winnie Wong, C.A., Chief Financial Officer Corporate Secretary
Ms. Wong is a Vice President of Client Services during Pacific Opportunity Capital Ltd., a organisation a Company has defended to yield financial government and accounting services. Following her graduation from Queen’s University, Ms. Wong worked with Deloitte Touche where she warranted her Chartered Accountant designation. Ms. Wong also acts as a CFO and Corporate Secretary on a series of TSE and TSX Venture Exchange companies.
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Labfit
Labfit provide automated solutions for pH and EC analysis as well as Carbon Sulfur Analyers, Loss on Ignition systems, TGA, Water and Buffer dispensing solutions and TGA Catch Weight products.
__________________________________________________
http://www.labfit.com/2012/06/estrella-gold-corporationgold-prospect-generation-in-peru/?utm_source=rss&utm_medium=rss&utm_campaign=estrella-gold-corporationgold-prospect-generation-in-peru
CSRFF
Estrella Gold Corp. Announces Drilling at La Estrella Gold-Silver Project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2012) -
Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce the start of a 2,500 meter core drilling program at the Company's namesake La Estrella project in Central Peru. Goals of the program are to drill test a strong induced polarization geophysical target located adjacent to the main mineralized zone and to expand the southwest extend of mineralization and define the distribution of high-grade mineralization. Geological mapping and soil sampling will also be completed to evaluate new areas adjacent to the main zone of mineralization. The program is funded and operated by Mines Management Inc ("MMI") under Estrella's recently announced Option Agreement. Estrella is also funded by MMI to provide geological and administrative support and remains responsible for community relations programs. MMI can earn a 75% interest in the property by making payments of US$550,000 to Estrella, spending US$5 million on exploration, and completing a NI 43-101 compliant Preliminary Economic Analysis ("PEA") on the property.
The La Estrella property contains approximately 2,500 hectares in the Central Peru polymetallic belt, Department of Huancavelica, a region with a history of silver mining dating to the 1500's. The Project area contains well-developed roads and electricity, and is located within 30 km of the Julcani Silver Mine, which began operation in 1955. Previous core and RC drilling at La Estrella included 5,796 meters in 33 holes and identified a mineralized area approximately 1,800 long and 300 meters wide. Drilling has tested only 200 meters below the surface and the mineralization remains open at depth. Mineralized intervals average 133.5 meters wide in 18 holes. The property is an advanced stage exploration project which contains a volcanic-hosted epithermal gold-silver system with associated base-metal mineralization.
About Estrella Gold Corporation (TSX VENTURE:EST): 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 thirty-two exploration properties in Perú, with twenty-eight held in venture agreements, most in a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. Of the four properties held 100% by Estrella, the Company also established a NI 43-101 compliant inferred resource containing a minimum of 313,000 ounces of oxide gold at its Colpayoc Project in Peru (from 19.3 Mt @ 0.5 g/t gold, NI 43-101 Inferred Resource, 2011 Global Geotechnologies Inc.; News Release dated 12/21/2011). The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). 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.
Contact Information
Estrella Gold Corporation
Keith Laskowski
President/CEO, MSc./QP
Direct: (720) 272-6224, (303) 235-8099 or (604) 687-3520
(604) 688-3392 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
_______________________________________________
http://www.marketwire.com/press-release/estrella-gold-corp-announces-drilling-at-la-estrella-gold-silver-project-tsx-venture-est-1668228.htm
CSRFF
Should be getting an update soon on the drilling by Mines Management of the Estrella Gold property in Peru:
http://www.minesmanagement.com/LaEstrellaDrillholes.php
CSRFF
Estrella Gold Extends Colpayoc Gold Project Terms
May 31, 2012 09:00 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 31, 2012) -
Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") has renegotiated key agreements at its Colpayoc gold project, allowing for continued exploration and resource development and is working to reduce overall operating costs. Colpayoc is located 12 km southwest of the Yanacocha gold mine, the largest gold mine in South America. Estrella has renegotiated the two underlying Option Agreements which include much of the 54 square kilometer property. Estrella has (a) reduced its 2012 obligations by $3.9M, down to $0.7M; (b) eliminated its work commitments; and (c) extended the Term of the Agreements an additional 2.5 years until December 2014. These new Terms allow the Company to conduct exploration of the multiple targets on the property, while continuing venture negotiations with interested parties. Colpayoc has a +300,000 ounce NI 43-101 compliant gold resource which is open in three directions, and four other areas of mineralization. The Company is preparing an Environmental Impact Assessment in preparation for future drilling programs. Estrella has also reduced its Peru administrative costs by more than 50% by relocating to a more efficient office location and through funding by Venture partners. The Company is seeking to minimize all expenditures allowing the staff to continue to focus on new acquisitions.
Mr. Keith Laskowski, President and CEO of Estrella, commented, "We have greatly reduced our administrative and operating costs, allowing us to protect our cash while continuing in full force with our prospect generator business strategy through 2012 and into 2013. We are pursuing negotiations with potential J.V. partners to fund additional drilling at Colpayoc."
About Estrella Gold Corporation (TSX VENTURE:EST)
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 thirty-two exploration properties in Perú, with twenty-eight held in venture agreements, most in a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. Of the four properties held 100% by Estrella, the Company also established a NI 43-101 compliant inferred resource containing a minimum of 313,000 ounces of oxide gold at its Colpayoc Project in Peru (from 19.3 Mt @ 0.5 g/t gold, NI 43-101 Inferred Resource, 2011 Global Geotechnologies Inc.; News Release dated 12/21/2011). The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). 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.
Contact Information
Estrella Gold Corporation
Keith Laskowski
President, MSc., QP
(720) 272-6224 or (303) 235-8099 or (604) 687-3520
(604) 688-3392 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
__________________________________________________
http://www.marketwire.com/press-release/estrella-gold-extends-colpayoc-gold-project-terms-tsx-venture-est-1663675.htm
CSRFF
Mines Management begins work on the Estrella Gold property:
"MINES MANAGEMENT PREPARES FOR EXPLORATION
ON LA ESTRELLA GOLD-SILVER PROJECT
Spokane, Washington – May 25, 2012 –
Mines Management, Inc. (NYSE-Amex: “MGN”, TSX: “MGT”) (the "Company") is pleased to announce preparations, through its subsidiary Minera Montanore Peru SAC, for the upcoming exploration
program at its La Estrella gold-silver project located in central Peru.
The goals of the initial 2500-meter program are to confirm continuity of mineralization on the southwest side of the
deposit, to better define the extent of high grade mineralization at depth in that area, and to test a recently-identified
geophysical target. Surface exploration, including soil geochemistry, is also planned for selected areas adjacent to the principal area of mineralization. Drilling is planned to commence before the end of May."
http://www.kitco.com/pr/1323/article_05252012090122.pdf
CSRFF
New video featuring Estrella Gold:
http://www.sys-con.com/node/2269149
CSRFF
Quotes from Mickey Fulp:
Quote:
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In my opinion, Estrella Gold Corp is currently on sale at 21 cents. The company has 24.1 million shares outstanding and 40.2 million fully diluted. However, that total includes 12.9 million warrants that are far out-of-the-money with expiries from July 2012 to July 2013. Market capitalization is a paltry $5 million. Estrella has $1.9 million in working capital, enough to satisfy exploration, property, and G &A expenditures until year end with a burn rate of about $100,000 per month. No current information on insider, family, and friends holdings was forthcoming from the company but based on my previous report, it is tightly held.
Since my last full report, Estrella Gold strengthened its Board of Directors, moved its corporate office and administration to a less expensive venue in Vancouver, staked new prospects and optioned out additional properties, and drilled and increased the 43-101 resource estimate at its Yanacocha District property.
EST currently holds 38 properties; most of them are in southern Peru with 34 joint ventured to other companies. Included in its joint ventures are 29 prospects in a strategic alliance with steel-industry giant Cliffs Natural Resources and the Pampa Poroma designated project currently being drilled, La Estrella
and Cerro Cori with AMEX-listed Mines Management Inc of Spokane, Washington, Isy with junior prospect generator Lara Exploration, and Pucarana with Esperanza Resources: Estrella Gold’s Projects in Peru
Projects currently available for joint venture include:
Colpayoc is located 12 km from Newmont-Buenaventura’s Yanacocha mine in northern Peru. It has a 313,000 ounce 43-101 inferred gold resource in the Daylight zone and a high-grade silver occurrence in the Cerro Rico zone. There are numerous undrilled porphyry gold targets within the landholdings.
Ccello Ccello-La Tola is a large area of epithermal and porphyry alteration in a contiguous claim block covering 70 sq km. Ccello Ccello is a high-sulfidation system related to structurally-controlled gold-silver mineralization at La Tola. In 2004 Newmont ran comprehensive geophysical surveys and drilled 18 reverse circulation holes at La Tola with some significant intercepts. Sense is a volcanic-hosted epithermal alteration system covering 35 sq km with a stream sediment gold anomaly. It is located 20 km southeast of the six million ounce Chucapaca gold deposit of Goldfields and Buenaventura.
In addition, Estrella controls a large concession in covered terrain north of Barrick’s giant polymetallic Pueblo Viejo deposit in the central Dominican Republic.
Estrella Gold Corp is a prospect generator that has executed its business plan with much success since ace geologist and CEO Keith Laskowski took over management about two and a half years ago. However, it has not been successful in rewarding its shareholders. Most of its decrease in market capitalization over the past year can be blamed on general micro-cap market conditions and relentless selling thru a Torontobased brokerage house for the past five months. Management thinks most of this selling is from retail shareholders placed in brokered private placements from late 2009 to mid 2011. Estrella retains a very tightly held share structure and it has a strong technical team that continues to
generate many prospects of merit in southern Peru.
Estrella means “star” in Spanish; I think the company’s stars are lining up and it is poised to take off when the junior resource market turns around.
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http://www.goldgeologist.com/update/ma4444.pdf
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Mercenary Alert: The Stars are Lining up for Estrella Gold
A Special Alert Musing from Mickey the Mercenary Geologist
Contact@MercenaryGeologist.com
April 15, 2012
The prospect generator model is one of my favorite business plans for the junior resource sector (Mercenary Musing, July 12, 2010). A prospect generator has the ability to preserve capital and equity by joint-venturing its early-stage projects to other companies who then spend their dollars to explore and advance them. Conversely, the company becomes a minority partner in its plays. With a cadre of geologists that has particular expertise in a commodity, in generalized region, and/or deposit type and continually generates a pipeline of meritorious projects, the successful project generator increases the odds of discovery and ultimate success.
(material deleted -- see link)
Estrella retains a very tightly held share structure and it has a strong technical team that continues to generate many prospects of merit in southern Peru. Estrella means “star” in Spanish; I think the company’s stars are lining up and it is poised to take off when the junior resource market turns around. I remain a dedicated share holder of EST and have never sold a share since first buying its compelling story in December 2009. Note that Estrella Gold Corporation is a sponsor of my website and my views are obviously affected by my financial involvement with the company.
That said, it is my opinion that its shares are currently on sale. If you are not already a shareholder, do your own due diligence and see if it matches your checklist for speculation at today’s relative low price.
____________________________________________________
http://www.goldgeologist.com/update/ma4444.pdf
CSRFF
Estrella Gold Signs Agreement to Sell 75% Interest in its La Estrella Gold-Silver Property, Peru
BY MARKETWIRE
APRIL 10, 2012 09:00 AM EDT
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/10/12 -- Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce it has signed a formal Exploration Earn-In Agreement for the sale of 75% interest in its namesake La Estrella gold and silver property to Mines Management Inc. (AMEX:MGN)(TSX:MGT) ("Mines Management"). Terms of the Agreement call for Mines Management to make payments of $550,000 over three years, work expenditures totaling $5 million, and complete a NI 43-101 compliant Preliminary Economic Analysis ("PEA") on an established resource to obtain its 75% interest.
Mines Management will also carry Estrella's 25% interest to production, with Estrella paying back its share of development costs from production revenues. Mines Management is planning to complete a minimum of 2,500 meters of drilling during 2012. The Agreement calls for the following payments and work commitments which are in addition to the $5,000,000 work expenditures (all amounts are US$):
Payments: On Signing: $50,000
Year 1 Anniversary Payment: $100,000
Year 2 Anniversary Payment: $200,000
Subsequent Anniversaries: $200,000 until exercising its
Option
Work Expenditures: Year 1: $500,000 including 2,500
meters of drilling
Year 2: $500,000 including 2,500
meters of drilling
The La Estrella property contains approximately 2,500 hectares of land within the Central Peru polymetallic belt, 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. Estrella has established and maintained constructive community agreements with all stakeholder communities, and the property is fully permitted for additional drilling. Estrella will continue to manage community relations during the first year, and is looking forward to providing open communication with all local communities, and providing opportunities for economic growth, combined with respect for all people and property. The property is an advanced stage exploration project which contains a volcanic-hosted epithermal gold-silver system with associated base-metal mineralization extending over a strike length of at least 1,200 meters.
Mr. Keith Laskowski, President and CEO of Estrella, commented, "Estrella is a 'Prospect Generator' and this is exactly the type of agreement we are seeking for our properties. We are pleased to work with Mines Management and to support their program at La Estrella as they work towards defining a significant new gold and silver resource. We are excited to see the drill turning again on this property. With their success, our retained 25% interest will contribute significant value to our shareholders."
Mines Management, Inc. is engaged in the business of acquiring, exploring, and developing mineral properties containing precious and base metals. Additional information is available at Mines Management's website: www.minesmanagement.com.
About Estrella Gold Corporation (TSX VENTURE:EST)
Mineral 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 thirty-two exploration properties in Peru, with twenty-eight held in venture agreements, most in a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. Of the four properties held 100% by Estrella, the Company also established a NI 43-101 compliant inferred resource containing a minimum of 313,000 ounces of oxide gold at its Colpayoc Project in Peru (from 19.3 Mt @ 0.5 g/t gold, NI 43-101 Inferred Resource, 2011 Global Geotechnologies Inc.; News Release dated 12/21/2011). The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). 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.
Contacts:
Estrella Gold Corporation
Keith Laskowski
President , MSc., QP
(720) 272-6224, (303) 235-8099 or (604) 687-3520
(604) 688-3392 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
_____________________________________________________
http://www.sys-con.com/node/2240018
CSRFF
Estrella Gold Exhibiting at PDAC 2012 at Booth 3143
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2012) -
Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") will be exhibiting at this year's Prospectors and Developers Association of Canada (PDAC) Investors Exchange taking place at the Metro Toronto Convention Centre, South Building from March 4th to 7th at booth number 3143.
President and CEO Keith Laskowski will be on hand to speak to shareholders and interested investors about the Company's developments at its various projects in Peru.
Exhibition Information: Level 800 - MTCC South Building at 222 Bremner Boulevard.
When: Sunday through Tuesday (March 4-6) 10:00 am - 5:30 pm
Wednesday (March 7) 9:00 am - 12:00 noon
About Estrella Gold Corporation (TSX VENTURE:EST)
The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). Estrella is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella Gold has forty-one exploration properties in Perú, with thirty-four held in venture agreements. Estrella has a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. The Company also has a NI 43-101 compliant inferred resource containing a minimum of 313,000 ounces of oxide gold at its Colpayoc Project in Peru (from 19.3 Mt @ 0.5 g/t gold, NI 43-101 Inferred Resource, 2011 Global Geotechnologies Inc.). 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.
Contact Information
Estrella Gold Corporation
Keith Laskowski
President, MSc., QP
(720) 272-6224, (303) 235-8099 or (604) 687-3520
(604) 688-3392 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
__________________________________________________
http://www.marketwire.com/press-release/estrella-gold-exhibiting-at-pdac-2012-at-booth-3143-tsx-venture-est-1626674.htm
CSRFF
Article about the company in Business Excellence magazine:
Quote:
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Estrella Gold
The gold star
THU, 02/16/2012 - 10:59
Estrella Gold is a prospect generator company, focused on gold in Latin America and growing its inventory of gold resource ounces. CEO Keith Laskowski tells John O’Hanlon why he placed his 30 years’ experience in gold exploration at the service of a junior company.
The fundamentals of gold mining have never been better, not even in the early 1980s when Keith Laskowski started in the business. He has seen the flight from the gold standard as institutions like the IMF and the Bank of England sold their reserves – and the subsequent resurrection of market demand. Thirty years have only gone to prove to him that gold is the least risky of metals, that it has stability in the market, and is certain to gain value at a time of fiscal uncertainty.
A geologist by training, Laskowski served for 17 years with the world’s largest gold producer Newmont Mining before teaming up with Mohammed Al Fayed, the former owner of Harrods, building a portfolio of properties in Mongolia and Peru and creating a unique database of the resources in the latter country. The company they formed was called Gallant Minerals, and Gallant Peru was sold in 2005 to Toronto-based Canadian Shield, whereupon Laskowski turned his attention to other territories, notably Northern Canada and Haiti.
He established very successful operations in both countries, starting Northern Canadian Uranium, very quickly acquiring a sound uranium portfolio that was later acquired by Bayswater Uranium. Entering Haiti just after the country’s return to democracy he launched an enterprise founded by Eurasian Minerals, attracted the attention of Newmont Mining, and established a joint venture with that major mining company. However he was reunited with Peru and the database he had developed on his appointment in 2009 as CEO and president of the aforesaid Canadian Shield.
A period of restructuring quickly followed. The company was renamed Estrella Gold (Spanish for star, La Estrella is one of the company’s Peruvian properties and the name better reflected the company’s intention to focus on Latin America). Over the next year new directors were appointed, including Winnie Wong as CFO who was joined on the board by Mark Brown, the president of merchant bankers Pacific Opportunity Capital. By the end of 2011 the majority of the original directors had stepped down: the board is now made up of a team with strong experience in growing junior minerals companies.
As well as changing its name, Estrella moved its headquarters from Toronto to Vancouver. The British Columbia capital is more in tune with exploration, as opposed to production companies in the mining sector. “Toronto is Canada’s principal banking centre and the brokers there are happy to raise large sums for you if you have a good product.” Laskowski explains. “We on the other hand are focused on trying to keep our share structure small and to be generating new prospects. Again Toronto is a good address for a development stage company while Vancouver as a city tends to be more amenable to the exploration stage.”
Estrella Gold is a purpose built company, based on a simple proposition and defined within clear limits. It has no intention of ever proceeding beyond exploration or getting involved in the production phase, he says. “We are attempting to build up a portfolio of projects that either already have measured gold resources on them, or that we believe we can quickly grow into measured resources.” This is not a high cost activity, and one of his stated objectives is to protect investors’ earnings by avoiding share dilution.
When a project reaches the development stage Estrella approaches development companies to operate the mine and extract the assets, whether gold, silver or copper. Revenues will flow from the retained interest – typically 25 percent. “I am striving for a purpose built company that has very simple strategy, low share structure and very good projects. The simple strategy is to bring in ventures so that other people’s money can be utilised to explore our projects and bring them forward and protect our shareholders.” It is a challenge, he adds, to explain even to his own staff the intricacies of the dilution factor in these markets – however: “I avoid it at all costs!”
Having acquired or formed joint ventures for more than 130 properties in the past, Laskowski’s driving interest is in identifying deposits. “My speciality as a geologist is in the discovery process and identifying potential new deposits. Following that, the business part is to package the products up so they are marketable and find good partners to take them forward!”
Of all minerals he believes gold is the least risky to work with. “I think that in the context of our position as a junior we have the right commodity. As an ‘asset manager’ my job is to see that our assets greatly exceed the shareholders’ share value and try to make sure that value is maximised. I like to make sure we have assets in the company that protect that share price, even though we are classified as a high risk investment because we focus on exploration.”
Estrella’s devotion to South America and particularly to Peru is a leap of faith – there is an element of risk, he admits, but believes it is reducing and indeed that now is a great time to be getting involved there. “It is worth noting that even though Peru continues to be a world leader in commodities, production levels are going down.” Peru is the fifth largest gold producer globally, and the second largest in both copper and silver but existing sources are running out, so the race is on to identify and prove the next targets to be exploited.
The government of Peru has secured international commitments amounting to more than $40 billion by 2020 and developers such as Newmont and the indigenous Buenaventura are ready to install new production assets. However, all that upside is contingent on the agility of exploration companies like Estrella. “We are working in a market that is struggling to find more resources – and we are finding them,” says Laskowski.
Peru’s economy will continue to be driven by its natural resources in the next decade, although the election of Ollanta Humala as President last year caused some nervousness on the part of potential investors from overseas. It was thought to represent a massive swing from right to left: Mr Humala campaigned on a promise to increase the state's role in the economy and redistribute wealth to Peru's poor majority.
This way lies nationalisation, many feared, or Chavez-style intervention, but since taking office he has exhibited a moderate approach. Laskowski is comfortable that Humala is more likely to model his socialism on that of Brazil and that the mining sector is likely to benefit from his commitment to finally confront the conflicts with local communities that have dogged mining projects to date.
The international mining industry itself has an image problem that he would like to see addressed. The problem is not so much one of predatory capitalism as of inefficiency and corruption that stop mining revenues from trickling down to improve the living standards of the population. “I personally believe that mining can turn societies around,” declares Laskowski. “I like what mining can do for society and I enjoy doing this work because it creates opportunities for people and families to grow and improve the quality of life in a lot of developing countries.”
If developing countries could enact and enforce laws based on America’s General Mining Law of 1872, or the Canadian mining law, mining could become as integral a part of social and economic development as it became in the USA, Canada, Australia and other states that are built on mining. “Having said that, you will never succeed unless the community is part of your team. You have to embrace community relations at every level. If the company management doesn’t engage with the community at a personal level then it is going to be nearly impossible to be successful.”
The future of Peru rests heavily on its natural resources and on 24 January 2012 President Humala was selling his country hard, at the World Economic Forum in Davos, as a safe harbour for global capital. “Investors are reassured because he is doing the right thing,” says Laskowski. “He is focusing on community relations and also acknowledging the fact that the government does have a role in striving to expand the economy. In Peru I have already seen mining greatly improve the life of the majority of its citizens.”
Last yearEstrella established a joint venture with Cliffs Natural Resources to explore for iron oxide-copper-gold (IOCG) deposits in a part of southern Peru renowned for these deposits. The alliance is a sign to investors and the industry that the company is on the right track and able to pull in a major partner. Cliffs is funding the programme to the tune of at least $400,000 a year; Estrella is operating it and providing two exploration field teams over two years. So far 32 properties covering 49,100 hectares have been acquired and another 45 claims have been lodged with the authorities, all within the terms of the joint venture.
So Estrella Gold ticks almost all the boxes required by analysts in the gold industry. It has a sound and sustainable business plan, proven leadership, a stellar portfolio of properties and credible partners. The final piece of the jigsaw for a junior exploration company is revenue, and cash flow is in Estrella’s near future. Meanwhile its activity is prodigious, and includes drill programmes on at least three sites this year.
The first of these will be on the 900 hectare Pampa Poroma IOGC property near the coast of southern Peru, with at least two kilometres of drilling over ten holes to test the geophysical and surface sampling and mapping work that Estrella has carried out this year. The agreement provides for Cliffs to incrementally take on more of the drilling and development cost over a maximum of ten years in which it may earn-in up to 80 percent of the project. By that time it is expected to be in a position to define a million-ounce gold deposit.
Estrella has also established a growing NI 43-101 compliant gold resource (the internationally recognised Canadian classification) at its wholly-owned Colpayoc project, located close to Peru’s Yanacocha gold mining complex, the largest gold mine in South America. The Colpayoc resource lies within the Daylight Gold Zone and is based on a limited amount of drilling and exploration. The resource contains 313,000 oz of gold within 19.3 Mt @ 0.50 g/t (Turner 2012). This resource is open for expansion in all directions and will be the subject of future drilling. Laskowski believes that the property has potential for a multi-million ounce deposit because it is a gold-porphyry system, similar to several other deposits recently discovered in Latin America. The Daylight Zone resource will be expanded and there are four other targets for discovery of additional gold deposits located nearby on this 57 square kilometer property. Estrella wanted to define a base asset value to protect shareholders investment, however the resource and the additional exploration targets in the surrounding area provide enormous upside potential on this 100 percent Estrella owned property).
Estrella has only 24.1 million shares issued, and continues to expand into new and exciting areas. Who could doubt that its history of successful programs will lead to more new discoveries?With a huge portfolio, and a small share structure, Laskowski believes the fundamentals will lead to continued success and growth.
http://www.estrellagold.com
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http://www.bus-ex.com/article/estrella-gold
CSRFF
Estrella Gold Files Colpayoc NI 43-101 Technical Report and Resource Estimate, Yanacocha District, Peru
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 7, 2012) -
Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce the submission of its NI 43-101 Technical Report on the Colpayoc Gold Project in northern Peru. The report was prepared by Exploration Geotechnologies of Littleton, Colorado. In summary, the report has concluded: The Colpayoc property hosts porphyry gold related mineralization and alteration in Tertiary-age intrusive rocks, as well as associated skarn and replacement styles of mineralization in Cretaceous-age limestone and clastic units. Estrella's Colpayoc property position covers over 50 square kilometers within the Chicama-Yanacocha trend. However, EGC's exploration work, as well as that of previous operators, has principally focused on the Daylight Zone resource. Reconnaissance exploration sampling and drilling has been conducted in a surrounding area of approximately 8.5 square kilometers in the south-central region of the EGC property position. This area includes the Montura, Cerro Rico, Rayo Grande, and Alpaca prospects. There is significant potential to not only add to the property's gold resources with additional drilling, but as well to make new discoveries of porphyry related mineralization.
Exploration Potential: The mineralization at Colpayoc is broadly similar to other porphyry systems in the region with regard to host rocks, alteration style, metal suites and tenor (i.e., Michiquillay, El Galeno, Minas Conga, Cerro Corona, etc.). The exploration focus has been on developing the inferred porphyry gold resource at the Daylight Zone. However the Montura prospect directly to the southwest has outcropping quartz stockwork and altered porphyry that has only been reconnaissance tested by historical Newcrest drilling. As an example, Newcrest drill hole CPD-01 intersected 44 meters (0-44m) of 0.32 g/t gold in a 300 meter hole that has been re-logged by EGC as stockworked volcanics, silicified exoskarn and silicified intrusives to the total depth drilled. Clearly, the apparent continuum of alteration and mineralization between the Daylight Zone resource and the Montura prospect is a priority for follow-up.
Elsewhere on the Colpayoc property there is evidence of intrusive-related replacement and skarn styles of precious and base metals mineralization at Cerro Rico, Rayo Grande, and Alpaca. These mineralized zones have undergone simple one or two-hole drill tests that have returned mineralized to geochemically anomalous silver, gold, zinc, lead and copper intercepts. In total, there is approximately a six square kilometer area with various styles of alteration and mineralization that coincides with a broad, semi-circular magnetic feature (see attached figure). The geochemistry covers only a limited area; the majority of the prospective target region has not been evaluated.
Daylight Gold Zone Inferred Resource: Drilling and surface sampling at the Daylight Zone has delineated a porphyry gold resource that has been drilled to approximately 170 meters vertical depth. The drill database used for the current inferred resource consists of over 2,200 meters of drilling. EGC's drill results are consistent with those from the historical core and reverse circulation drilling. The historical surface sampling totals approximately 2,450 meters of dozer cut chip channel samples, and the assay results appear to be reproducible from independent sampling.
The Ordinary Krige resource estimate for the Daylight Zone shows strong gold grade continuity, and cross checks with drill composite grades, an inverse distance model, and a nearest neighbor model validate the kriged model. The resource is entirely classified in the inferred category, and at a 0.3 g/t gold cutoff totals 19.28 million tonnes averaging 0.50 g/t gold and yielding 313,000 ounces of contained gold. Of this total inferred resource, 17.883 million tonnes averaging 0.51 g/t gold are oxide, and 1.397 million tonnes averaging 0.47 g/t gold are mixed oxide-sulfide. The inferred category could be upgraded if the metallurgical characteristics of the mineralized material prove to be favorable. In addition, there is potential to expand the mineralized zone, and it remains open to the north, east, south, and southwest. Furthermore, the roots of the zone have not been drilled, and the mineralized system is open to depth.
EGC's exploration programs have established Colpayoc as a property with a porphyry gold resource that has upside potential for expansion. Perhaps more importantly, the a) geologic setting, b) distribution of porphyry and porphyry related alteration, c) broad Au-Cu-Mo geochemical anomalies, and d) multiple concealed targets identified from magnetics suggest that EGC's property position hosts a number of exploration opportunities in a district scale area of over 50 square kilometers.
Recommendations: Estrella's exploration programs have established Colpayoc as a property of merit that includes an inferred gold resource at the Daylight Zone. There is upside potential for resource expansion, as well as a number of priority porphyry gold, and porphyry related skarn and replacement targets that have been sampled and reconnaissance drilled. As follow-up to these successes, a 12 month exploration program is recommended that totals approximately US $1.7 million with two principal goals:
a) evaluate Colpayoc's potential as a 50 square kilometer district-scale play within the context of the Chicama-Yanacocha structural trend, and
b) build on the current resource base.
The report can be viewed in its entirety at www.sedar.com under Estrella's corporate document filings.
About Estrella Gold Corporation (TSX VENTURE:EST) The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). Estrella is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella has forty-one exploration properties in Perú, with thirty-six held in venture agreements. Estrella holds 32 properties within the exploration area that is subject to its Alliance Agreement with Cliffs. The Company also has a NI 43-101 compliant inferred resource containing a minimum of 313,000 ounces of gold at its Colpayoc Project in Peru (from 19.3 Mt @ 0.5 g/t gold, NI 43-101 Inferred Resource, 2011 Exploration Geotechnologies Inc., News Release dated 12/21/2011). 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.
To view the maps associated with this press release, click on the following link: http://media3.marketwire.com/docs/e26m.pdf
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.
Contact Information
Estrella Gold Corporation
Keith Laskowski
President, MSc., QP
Direct: (720) 272-6224, (303) 235-8099 or (604) 687-3520
klaskowski@estrellagold.com
www.estrellagold.com
_____________________________________________________
http://www.marketwire.com/press-release/estrella-gold-files-colpayoc-ni-43-101-technical-report-resource-estimate-yanacocha-tsx-venture-est-1615852.htm
CSRFF
Estrella Gold Announces Drill Program at Pampa Poroma Iron-Oxide Copper Gold Project, Peru
2000 Meter Program Funded by Alliance Partner
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 6, 2012) -
Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce a minimum 2,000 meter core drilling program at its Pampa Poroma Iron-oxide copper gold project ("IOCG") in southern Peru. The Pampa Poroma property is located approximately 20 km northeast from the Marcona-Mina Justa Iron Oxide Copper Gold district which contains at least three major IOCG deposits. The Marcona and Mina Justa deposits each contain between 400 million to 1.4 billion tonnes of iron-oxide-copper-gold resources. The Pampa Poroma property contains 900 hectares of mineral claims located over prospective alteration and mineralization. Estrella owns a 100% interest in the claims which are subject to its IOCG Exploration Alliance Agreement, dated as of February 9, 2011 (as amended), with Cliffs Natural Resources Exploration Inc., a wholly owned subsidiary of Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF) ("Cliffs"). Estrella has completed systematic mapping, rock sampling, ground magnetics and gravity surveys on the property during the last year, resulting in the identification of drill targets. Drilling will be conducted by Bradley Drilling SAC of Lima Peru and will commence during the first half of February.
In accordance with the terms of the Alliance Agreement, all work on the Pampa Poroma property conducted by Estrella since entering into the Alliance Agreement has been funded by Cliffs. Under the terms of the Alliance Agreement, Cliffs can earn an initial 50 percent interest in the Pampa Poroma project by making exploration expenditures of $2 million by August 31, 2013, including a minimum of $750,000 with a firm commitment of $500,000 by August 31, 2012. Estrella will operate the Pampa Poroma project until such time as Cliffs elects to take over as operator. Cliffs must spend an additional $4 million and complete 3,000 meters of drilling within 4 years of earning its 50 percent interest, to earn an additional 20 percent, for a total 70 percent interest. If Cliffs fails to earn a 70 percent interest, the property will revert back to Estrella (100%) subject to Estrella granting an NSR royalty to Cliffs, based on the amount of expenditures Cliffs has made on the property. If Cliffs has spent a minimum of $1,000,000 but less than $3,000,000 they will receive a 0.5 percent NSR royalty. If Cliffs has spent at least $3,000,000 but less than $4,000,000 they will receive a 1.0 percent NSR royalty.
Cliffs can acquire an additional 10 percent interest for a total 80 percent interest in Pampa Poroma, by completing a NI 43-101 compliant Pre-Feasibility Study or by defining a NI 43-101 compliant Inferred Mineral Resource containing a minimum of 1,000,000, ounces of gold or gold equivalent, within four years of earning its 70 percent interest. If Cliffs elects not to earn an additional 10 percent interest, Cliffs will pay Estrella $2 million within 60 days and the parties will fund their proportional interest on a 70/30 basis, subject to conventional dilution. If either party's interest is reduced to 10 percent or less, that interest will be converted to a 2 percent NSR royalty.
About Estrella Gold Corporation (TSX VENTURE:EST):
The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). Estrella is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella has forty-one exploration properties in Perú, with thirty-six held in venture agreements. Estrella holds 32 properties within the exploration area that is subject to its Alliance Agreement with Cliffs. The Company also has a NI 43-101 compliant inferred resource containing a minimum of 313,000 ounces of gold at its Colpayoc Project in Peru (from 19.3 Mt @ 0.5 g/t gold, NI 43-101 Inferred Resource, 2011 Global Geotechnologies Inc., News Release dated 12/21/2011). Mr. Keith A. Laskowski, M.Sc., 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.
Contact Information
Estrella Gold Corporation
Keith Laskowski
President, M.Sc., QP
Direct Tel: (720) 272-6224, (303) 235-8099 or (604) 687-3520
(604) 688-3392 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
______________________________________________________
http://www.marketwire.com/press-release/estrella-gold-announces-drill-program-pampa-poroma-iron-oxide-copper-gold-project-peru-tsx-venture-est-1615319.htm
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Estrella Gold commercial on BNN: Business News Network:
(This downloads)
www.b-tv.com/media/cdn_estrellagold30_2012.wmv
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Video clip of the CEO Keith Laskowski:
http://ceoclips.com/companies/Estrella-Gold-Corporation-CEO-2012.html
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Estrella Signs Option Agreement for Isy Gold Property in Peru
VANCOUVER, BRITISH COLUMBIA, Jan 16, 2012 (MARKETWIRE via COMTEX) --
Estrella Gold Corporation CA:EST +17.65% ("Estrella" or the "Company") is pleased to announce it has signed an Option Agreement for the sale of its Isy Gold Property in Peru to Lara Exploration Ltd CA:LRA -2.50% ("Lara"). The Isy property contains 3,100 hectares located in the Department of Ayucucho. Isy is an early stage exploration property that was acquired by Estrella in 2010 based on regional analysis of LANDSAT alteration anomalies, structural geology, and regional metallogenic studies. The property is underlain by Miocene volcanic rocks, containing extensive epithermal alteration. Estrella has completed initial reconnaissance mapping and sampling which has confirmed the presence of anomalous gold values in two locations, with associated highly anomalous epithermal-suite metals (Sb, As, Ag).
The Option Agreement grants Lara the exclusive right to acquire a 100% interest in the property within 3 years subject to a 1.5% NSR royalty to Estrella. During the option period Lara will be responsible for all property maintenance payments and must make the following option payments to Estrella (all figures are US $):
On Signing: $30,000
On or before year 1 Anniversary Payment: $50,000
On or before year 2 Anniversary Payment: $75,000
On or before year 3 Anniversary Payment: $100,000
On or before year 3 Anniversary Stock: 50,000 shares of LRA
Lara has the option to purchase 50% of the 1.5% royalty for $3,000,000 within 1 year of commencement of production. Estrella and Lara may elect to have the first and second anniversary payments made all or in part in stock.
Mr. Keith Laskowski, President and CEO of Estrella commented "The Isy epithermal gold prospect was generated through our Regional Andean Gold Exploration program, in an area that Lara has been focussed on. The property contains prospective geological characteristics and we are very pleased to join Lara in their exploration program, making this a new highly prospective regional gold exploration target. As a "Prospect Generator" this brings Estrella's total to 36 properties which are ventured to third parties for exploration and development."
About Lara Exploration Ltd. CA:LRA -2.50% : The Company has 26.2 million shares issued and outstanding on the TSX Exchange. Lara is a prospect generator dedicated to the identification acquisition and exploration of precious and base metal deposits and other resource opportunities in South America. Lara holds a portfolio of mineral properties in South America (Brazil, Colombia and Peru) and China. More information can be obtained at the company's website: http://www.laraexploration.com/ .
About Estrella Gold Corporation CA:EST +17.65% : The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange CA:EST +17.65% . Estrella is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella has forty-one exploration properties in Peru, with thirty-six held in venture agreements. Estrella holds 32 properties within its Strategic Exploration Alliance with Cliffs Natural Resources Exploration Inc. The Company also has a NI 43-101 compliant inferred resource containing a minimum of 313,000 ounces of gold at its Colpayoc Project in Peru (from 19.3 Mt @ 0.5 g/t gold, NI 43-101 Inferred Resource, 2011 Global Geotechnologies Inc., News Release dated 12/21/2011). 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.
Contacts:
Estrella Gold Corporation
Keith Laskowski
President , MSc., QP
Direct Tel: (720) 272-6224, (303) 235-8099 or (604) 687-352
(604) 688-3392 (FAX)
www.estrellagold.com
SOURCE: Estrella Gold Corporation
__________________________________________________
http://www.marketwatch.com/story/estrella-signs-option-agreement-for-isy-gold-property-in-peru-2012-01-16-9300
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Lara Exploration to pay Estrella Gold US$314K in cash, shares for Peru property
By The Canadian Press | January 16, 2012
VANCOUVER -
Lara Exploration Ltd. (TSXV:LRA) announced Monday it has signed an option agreement to buy the Estrella Gold Corp. (TSXV:EST) Isy gold property in southern Peru from some US$314,000 in cash and shares, plus a 1.5 net smelter return royalty.
The property is adjacent to and contiguous with the Lara's Sami project and the company believes that it covers extensions of its Pitusaja high-sulphidation epithermal gold target.
Under terms of the deal, Estrella will be paid US$255,000 in cash over three years and 50,000 Lara shares on the third anniversary, Lara said in a news release. Based on Monday's midmorning price of $1.20 per Lara share, that would amount to about US$59,000.
Lara can elect to buy 50 per cent of the royalty for US$3 million within one year of commencement of commercial production.
"Results of our 2011 field season at Sami look very encouraging and we are very happy to have been able to work with Estrella to consolidate additional ground," said Lara president Andre Gauthier.
___________________________________________________________
http://www.canadianbusiness.com/article/66091--lara-exploration-to-pay-estrella-gold-us-314k-in-cash-shares-for-peru-property
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Release from Mines Management:
Mines Management Signs Letter of Intent to Acquire La Estrella Gold-Silver Property In Peru
Spokane, U.S.A., Jan 10, 2012 (Thomson Reuters ONE via COMTEX) -- RELEASE #12-01
Spokane, Washington - January 10th, 2012 - Mines Management, Inc. (nyse-amex:"MGN") (the "Company") is pleased to announce it has signed a letter of intent ("LOI") with Estrella Gold Corp. ("EGC") for an option to acquire up to 75% of the La Estrella gold and silver project ("Project") located in central Peru approximately 230 km southeast of Lima.
The La Estrella property ("La Estrella") contains approximately 2,500 hectares of land within the Central Peru polymetallic belt, 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. EGC has established and maintained constructive community agreements with all stakeholder communities, and the property is already fully permitted for additional drilling.
Mr. Glenn M. Dobbs, the Company's President and CEO, stated, "The La Estrella exploration project represents Mines Management's step into one of the most prolific silver and gold regions in the world. The Project is in a favorable district, and possesses a number of very positive attributes including previous exploration success, and a permitted drilling program which may afford us the ability to move forward expeditiously. We look forward with enthusiasm to the prospect of working with EGC on the project."
The terms of the LOI allow MGN through its subsidiary, Minera Montanore Peru, SAC, to earn 75% of the La Estrella project by expending $5 million over four years on exploration activities. Option payments would include $50,000 due upon signing of the definitive agreements, which will supersede the LOI, $100,000 upon the first anniversary of such signing, and $200,000 annually thereafter until completion of the earn-in. Work expenditures would include $500,000 in the first year, including 2,500 meters of drilling, $500,000 in the second year, including 2,500 meters of drilling, and completion of a preliminary economic assessment on a defined resource on the property. Mines Management, Inc.'s minimum outlay includes $50,000 due upon signing, and $350,000 of the first year's work commitment, for a total of $400,000. If MGN elects to exercise the option by completing all option payments and expenditures, EGC would retain a 25% interest carried to production. The LOI allows MGN to conduct a period of additional exclusive due diligence until March 1, 2012, during which time definitive agreements are expected to be negotiated and executed.
La Estrella is an advanced exploration stage project which contains an epithermal, volcanic-hosted gold-silver system with associated base-metal mineralization extending over a strike length of at least 1,200 m. Previous exploration on the property included surface sampling, 22 diamond drill holes and 11 reverse circulation drill holes, where all but two holes encountered gold and silver mineralization.
Two different styles of mineralization are present within a 1,200 meter north-south by 200 meter east-west zone, which remains open for expansion. The largest area of mineralization occurs as a north-south trending, west dipping, irregular, stratabound zone measuring 50-150 meters in thickness, where gold and silver mineralization of low to moderate grade has been intersected along strike for 600 meters, remaining open to the north, south, and west (down dip). The second type of gold and silver mineralization occurs in north and northeast trending, sub-vertical fault zones which cross-cut the stratabound zone with mineralization of higher grade.
Michael G. Rasmussen, PhD, Vice President of Exploration for Mines Management, Inc., 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.
About Estrella Gold Corporation CA:EST -6.82%
Estrella is a Canadian exploration company focused on gold exploration and resource definition in Latin America. EGC has extensive experience in Peru, with forty-one exploration properties, including their flagship Colpayoc Project, with thirty-four held in venture agreements, most in a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. CLF +2.77% . Further information is available at Estrella Gold's website: www.estrellagold.com .
About Mines Management
Mines Management, Inc. is engaged in the business of acquiring and exploring, and if exploration is successful, developing mineral properties containing precious and base metals. The Company's primary focus is on the advancement of the Montanore silver-copper project located in northwestern Montana. The Montanore is an advanced stage exploration project containing a Canadian NI43-101 compliant measured resource of 4.03 million tons of material grading 1.85 ounces per ton ("opt") silver and 0.74% copper, 77.5 million tons grading 2.05 opt silver and 0.75% copper, and an inferred resource of 35.1 million tons grading 1.85 opt silver and 0.71% copper, and is currently undergoing the process to obtain permitting approval. Additional information is available at Mines Management's website: www.minesmanagement.com .
Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated and Inferred Mineral Resources:
This press release uses the terms "Measured Mineral Resources," "Indicated Mineral Resources" and "Inferred Mineral Resources." We advise U.S. investors that while those terms are recognized and required by Canadian NI 43-101, the Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves. Inferred Mineral Resources have a greater amount of uncertainty as to their existence and as to their economic and legal feasibility. In accordance with Canadian rules, estimates of Inferred Mineral Resources cannot form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that part or all of the Inferred Mineral Resources exists, or is economically or legally mineable. Disclosure of "contained ounces" in a Mineral Resource is permitted under Canadian regulations, however, the SEC normally only permits issuers to report mineralization that does not constitute 'reserves' by SEC standards as "in place" tonnage and grade without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar information made public by U.S. companies that are not subject to NI 43-101.
Statements Regarding Forward-Looking Information: Some statements contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially, including comments regarding the anticipated entering into of definitive agreements with Estrella Gold Corp. regarding the La Estrella gold project, planned and potential exploration activities and expenditures on the La Estrella gold property. Actual results may differ materially from those presented. Factors that could cause results to differ materially include the inability to complete the negotiation of definitive agreements with Estrella Gold Corp., the results of exploration and the preliminary economic assessment at La Estrella, the interpretation of previous drilling results; insufficient funding to complete earn-in expenditures, community or political unrest in Peru, and fluctuations in silver and copper prices. Mines Management, Inc. assumes no obligation to update this information. There can be no assurance that future developments affecting Mines Management, Inc. will be those anticipated by management. Please refer to the discussion of risk factors in the Company's Form 10-K for the year ended December 31, 2010, as amended.
FOR MORE INFORMATION:
Douglas Dobbs, Vice President of Corporate Development & Investor Relations
Mines Management, Inc.
______________________________________________________
http://www.marketwatch.com/story/mines-management-signs-letter-of-intent-to-acquire-la-estrella-gold-silver-property-in-peru-2012-01-10
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Estrella Signs Letter of Intent for its Estrella Gold-Silver Project in Peru
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 10, 2012) -
Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce it has signed a Letter of Intent for the sale of 75% interest in its Estrella gold and silver property to Mines Management Inc. (TSX:MGT)(NYSE Amex:MGN) ("Mines Management"). Mines Management is a U.S. based mineral company focused on the acquisition and exploration of silver dominant deposits with its primary goal of becoming a new mid-tier precious and base metal producer. The Estrella property contains 2,500 hectares of land within the Central Peru polymetallic belt, a region with a history of silver mining dating back to the 1500s. The property is located 130 km south of Huancayo in the Department of Huancavelica at moderate elevation with excellent access and infrastructure. The property is fully permitted for immediate drilling and advancement. The Company has established and maintained constructive community agreements with all three stakeholder communities.
The Terms of the Letter of Intent provides Mines Management with the exclusive right to establish an Option Agreement (until March 1, 2012) for the acquisition of a 75% interest in the property by expending $5 million in work expenditures, making payments to Estrella, and completing a preliminary economic analysis (PEA) on a defined resource within 4 years. Upon completion, Estrella's 25% interest may be carried to production with proportionate costs paid back to Mines Management from preferred production profits. During the option period Mines Management will make property maintenance payments that are required to maintain the concessions or mining licenses in full force and will make the following option payments to Estrella, all of which are not included in the $5,000,000 work expenditures (all amounts are US$):
On Signing: $50,000
Year 1 Anniversary Payment: $100,000
Year 2 Anniversary Payment: $200,000
Subsequent Anniversaries: $200,000 until exercising its Option
Work expenditures shall include the following minimum required amounts:
Year 1: $500,000 including 2,500 meters of drilling
Year 2: $500,000 including 2,500 meters of drilling
The Estrella property is an advanced stage exploration project which contains volcanic-hosted epithermal gold-silver system with associated base-metal mineralization extending over a strike length of at least 1,200 meters. The property has 33 drill holes totaling 5,800 meters of drilling and has been described in previous news releases. Two different styles of mineralization are present within a 1,200 meter north-south by 200 meter east-west zone, which remains open for expansion. The largest area of mineralization occurs as a north-south trending, west dipping, irregular, stratabound zone measuring 50 - 150 meters in thickness. This stratabound zone contains gold and silver mineralization which has been intersected along strike for 600 meters, and remains open to the north, south, east (up dip) and west (down-dip). The second type of gold and silver mineralization occurs in north and northeast trending, sub-vertical fault zones which cross-cuts the stratabound zone. The sub-vertical zones locally contain some of the highest grade mineralization on the property, including drill intersections of up to 11 meters @ 311.2 g/t silver and 0.59 g/t gold (RC-E10 from 43 - 54 m). These zones are within the main mineralized body and have been traced an additional 600 meters north, and remain open along trend to the north and south and at depth. Mineralization at La Estrella has favourable geometry for potential open-pit or underground mining.
Mr. Keith Laskowski, President and CEO of Estrella, commented, "Estrella is a 'Prospect Generator' and this is exactly the type of agreement we are seeking for our properties. We are very pleased to work with Mines Management and their experienced staff and we look forward to providing continuing support on their programs in Peru as they work towards defining a significant new silver and gold resource. With their success, our retained 25% interest will contribute significant value for our shareholders."
About Estrella Gold Corporation (TSX VENTURE:EST) The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). Estrella is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella has forty-one exploration properties in Perú, with thirty-four held in venture agreements, most in a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. The Company also has a NI 43-101 compliant inferred resource containing a minimum of 313,000 ounces of oxide gold at its Colpayoc Project in Peru (from 19.3 Mt @ 0.5 g/t gold, NI 43-101 Inferred Resource, 2011 Global Geotechnologies Inc.; News Release dated 12/21/2011). 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 the 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.
___________________________________________________
http://www.marketwire.com/press-release/estrella-signs-letter-of-intent-for-its-estrella-gold-silver-project-in-peru-tsx-venture-est-1604979.htm
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To receive company news releases and other information, merely complete the form on the website:
http://www.estrellagold.com/s/InformationRequest.asp
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Estrella Staff Changes
VANCOUVER, BRITISH COLUMBIA, Dec 30, 2011 (MARKETWIRE via COMTEX) --
Estrella Gold Corporation CA:EST +10.00% ("Estrella" or the "Company") announces that Mr. Stanley Myers will step down as Vice President - Exploration effective December 31, 2011. Mr. Myers will continue to support the Company's programs in Peru and will consider another role upon his return from holidays. The Board wishes to express their appreciation for Mr. Myer's contributions during the past year.
About Estrella Gold Corporation CA:EST +10.00% The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange CA:EST +10.00% . Estrella is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella has forty-one exploration properties in Peru, with thirty-four held in venture agreements most in a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. The Company also has a NI 43-101 compliant inferred resource containing a minimum of 313,000 ounces of oxide gold at its Colpayoc Project in Peru (from 19.3 Mt @ 0.5 g/t gold, NI 43-101 Inferred Resource, 2011 Global Geotechnologies Inc.). 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.
Contacts:
Estrella Gold Corporation
Keith Laskowski
President , MSc., QP
Direct: (720) 272-6224, (303) 235-8099 or (604) 687-3520
(604) 688-3392 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
__________________________________________________
http://www.marketwatch.com/story/estrella-staff-changes-2011-12-30?reflink=MW_news_stmp
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Latest news as interpreted by the local paper:
Quote:
_______________________________________________________
Estrella doubles Colpayoc gold resources, Peru
Lima, Dec. 22 (ANDINA). Canadian-based Estrella Gold Corporation announced Thursday it has updated and expanded gold resource at the Daylight Gold Zone of its Colpayoc gold project, located in Cajamarca, based on recent drilling at the area.
The new inferred resource estimate is 19.28 million tonnes at 0.50 g/t gold containing 313,000 ounces of gold, including 292,000 ounces of oxide mineralization (using a 0.3 g/t cut-off).
The Daylight Gold Zone contains an area of outcropping gold mineralization within a much larger mineralized area that is subject of ongoing exploration.
The resource estimate is based on 14 drill holes (including ten new Estrella core holes) with an average depth of 157 meters (total 2203.9 m) and historic surface trenching results.
Mineralization at the Daylight Zone occurs in a classic gold porphyry system, hosted within an altered Tertiary age porphyritic-diorite intrusion.
Gold occurs with geochemically anomalous to low-grade copper mineralization. All drilling has been focused on the near surface potential of the system which remains open to depth.
The gold mineralization at the Daylight Zone exhibits a much greater amount of oxidized mineralization than originally anticipated, as further evidenced by the density data collected from drill core.
Estrella Gold owns or has the option to acquire a 100% interest in the property, which contains 5,773 hectares of land located 12 kilometers southwest of the Yanacocha mine complex, the largest gold producer in South America.
It is a "prospect generator" company focused on gold exploration and resource definition in Latin America. It has forty one exploration properties in Perú, with thirty four held in venture agreements, and has a strategic exploration alliance with Cliffs Natural Resources Exploration Inc.
The company has a minimum of 144,000 ounces of gold at its Colpayoc Project in Peru which is increasing as described in this news release subject to completion of a formal NI 43-101 Technical Report and TSX approval.
It has 24.1 million shares issued and outstanding on the TSX Venture Exchange under the symbol EST.
(END) LVT/LVT
__________________________________________________________
http://www.andina.com.pe/Ingles/Noticia.aspx?Id=zieyRA98haY=
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A more complete resource regarding the latest press release, "ESTRELLA DOUBLES COLPAYOC GOLD RESOURCE, PERU
313,000 oz: 19.28 Mt @ 0.50 g/t Gold – Mostly Oxide"
http://www.infomine.com/companies-properties/document.aspx?docid=PB142516.PDF
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Estrella Doubles Colpayoc Gold Resource, Peru
313,000 oz: 19.28 Mt @ 0.50 g/t Gold-Mostly Oxide
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2011) -
Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to release an updated and expanded gold resource at the Daylight Gold Zone based on recent drilling at the Colpayoc Gold Project in Peru. The Daylight Gold Zone contains an area of outcropping gold mineralization within a much larger mineralized area that is subject of ongoing exploration. The new inferred resource estimate is 19.28 million tonnes @ 0.50 g/t gold containing 313,000 ounces of gold, including 292,000 ounces of oxide mineralization (using a 0.3 g/t cut-off). The resource estimate is based on 14 drill holes (including ten new Estrella core holes) with an average depth of 157 meters (total 2203.9 m) and historic surface trenching results. Most holes collared and ended in mineralization and the resource remains open for expansion along strike and at depth. The new estimate is classified as an inferred resource, with categories for both oxide and mixed oxide-sulfide mineralization. More than 90% of the resource is classified as oxide and is described below:
Colpayoc Project Daylight Zone Inferred Resources
0.3 g/t Gold Cutoff – December 2011.
Category Tonnes Gold Grams Ounces
(000) Grade (g/t) Gold (000) Gold (000)
Oxide 17,883 0.51 9,070 292
Mixed 1,397 0.47 654 21
Total 19,280 0.50 9,724 313
Totals may not sum to 100% due to rounding.
The property contains 5,773 hectares of land located 12 kilometers southwest of the Yanacocha mine complex, the largest gold producer in South America. Estrella owns or has the option to acquire a 100% interest in the property. Mineralization at the Daylight Zone occurs in a classic "gold porphyry" system, hosted within an altered Tertiary age porphyritic-diorite intrusion. The diorite porphyry host unit has been expanded with recent mapping to at least 600 meters in diameter however all drilling and evaluation has been focused in the central 300 meter diameter area. The diorite porphyry is hosted within a larger dioritic intrusion and is in contact with calcareous sedimentary rocks on two sides. The porphyry system likely extends further, beneath these cover rocks in several areas. Gold mineralization occurs within sericite and sericite-clay altered diorite porphyry accompanied by disseminated magnetite with variable quartz-iron-oxide veins, veinlets and stockworks, which are cut by younger fine magnetite veinlets and stockworks. Gold occurs with geochemically anomalous to low-grade copper mineralization. All drilling has been focused on the near surface potential of the system which remains open to depth.
Three holes have been re-assayed using cyanide-extractable ("CN") gold analyses, to provide initial metallurgical evaluation. COL 2, 7, and 10 contained weighted average CN extractable gold assays ranging from 74-99%. The oxide mineralization was estimated by correlating these results with drill logging and extrapolated to the other drill holes. The gold mineralization at the Daylight Zone exhibits a much greater amount of oxidized mineralization than originally anticipated, as further evidenced by the density data collected from drill core.
A second gold-porphyry system has been identified approximately 600 meters southwest of the Daylight Zone at the Montura Zone. Montura contains a 300 meter diameter gold porphyry system with quartz and iron-oxide stockwork with variable magnetite veinlets and disseminated magnetite within sericite-clay-iron oxide altered porphyritic intrusive (oxidized). Reconnaissance rock samples contain anomalous gold values and three historic drill holes (Newcrest) located outside the margin of the main porphyry body encountered anomalous gold values. The Company has recently collected systematic channel samples from road cuts within the new mineralized zone which are now being analysed. The Daylight Zone and the Montura Zone are two distinct porphyry targets within a much larger target zone, as shown on the attached magnetics image. The following table identifies the Daylight Zone gold resource sensitivity based on variable low-grade cut-offs:
Colpayoc Project Daylight Zone Inferred Resource
Sensitivity By Cutoff Grade – December, 2011.
TOTAL OXIDE AND MIXED
Cutoff Tonnes Gold Grams Ounces
Au g/t (000) Grade (g/t) Gold (000) Gold (000)
0.1 28,839 0.41 11,900 383
0.2 26,094 0.44 11,468 369
0.3 19,280 0.50 9,724 313
0.4 13,087 0.58 7,575 244
0.5 8,545 0.65 5,534 178
OXIDE
Cutoff Tonnes Gold Grams Ounces
Au g/t (000) Grade (g/t) Gold (000) Gold (000)
0.1 25,161 0.43 10,742 345
0.2 23,176 0.45 10,427 335
0.3 17,883 0.51 9,070 292
0.4 12,408 0.58 7,167 230
0.5 8,110 0.65 5,235 168
MIXED
Cutoff Tonnes Gold Grams Ounces
Au g/t (000) Grade (g/t) Gold (000) Gold (000)
0.1 3,678 0.31 1,158 37
0.2 2,918 0.36 1,041 33
0.3 1,397 0.47 654 21
0.4 680 0.60 407 13
0.5 435 0.69 299 10
The Colpayoc Gold Project has multiple remaining targets, and the current resource at the Daylight Zone remains open for expansion with additional drilling.
About the Resource Estimate:
The Daylight Gold Zone mineral resource estimate was based upon:
1) 2,203.9 total meters of drilling in fourteen drill holes,
2) more than 2,400 meters of historic dozer-cut trench sampling,
3) a geological and grade shell constrained block model (using >0.1 g/t),
4) capping of assay grades over 1.6 g/t gold,
5) drill hole defined grade continuity verified through variogram analysis,
6) gold grade estimation by ordinary kriging, and
7) a density of 2.21 g/cc applied to the altered porphyry host rock.
Independent verification of the exploration data used as a basis for the geologic and resource models were based upon:
a) a site visit and review of the property geology, core logging and drill collar and trench locations,
b) check sampling of the surface trenches and drill core,
c) review of the quality assurance/quality control protocols and results, and
d) assay database audit.
The analyses and resource estimate were prepared by two independent parties, each independent from the Company. The Daylight Gold Zone inferred resource could be advanced to a higher degree of resource classification confidence with a work program to re-sample and verify the historic surface trench results, characterize the varying densities of the altered and mineralized rock within the deposit, determine the metallurgical characteristics of the mineralized material with additional early-stage test work, and conduct a modest in-fill drilling campaign. The independent resource estimate has been conducted to comply with National Instrument 43-101 standards and Canadian Institute of Mining (CIM) guidelines for reporting mineral resources. Dean D. Turner, CPG, a Qualified Person as defined by National Instrument 43-101 and an independent consulting geologist, is responsible for the Colpayoc Daylight Zone mineral resource estimate.
About Estrella Gold Corporation (TSX VENTURE:EST):
Estrella Gold is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella Gold has forty one exploration properties in Perú, with thirty four held in venture agreements. Estrella has a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. The Company has a minimum of 144,000 ounces of gold at its Colpayoc Project in Peru which is increasing as described in this news release subject to completion of a formal NI 43-101 Technical Report and TSX approval (from 7.6 Mt @ 0.6 g/t gold, NI 43-101 Inferred Resource, 2010 SRK). 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. The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). 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.
To view the maps associated with this press release, click on the following link: http://media3.marketwire.com/docs/e1220.pdf
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.
Contact Information
Estrella Gold Corporation
Keith Laskowski, President, MSc., QP
Direct: (720) 272-6224, (303) 235-8099
or (604) 687-3520
(604) 688-3392 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
____________________________________________________
http://www.marketwire.com/press-release/estrella-doubles-colpayoc-gold-resource-peru-tsx-venture-est-1601019.htm
CSRFF
Estrella Expands Daylight Gold Zone and Identifies Second Porphyry, Colpayoc Gold Project, Peru
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 8, 2011) -
Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to provide an update on the Colpayoc Gold Project in Peru. The property contains 5,773 hectares of land located 12 kilometers southwest of the Yanacocha mine complex, the largest gold producer in South America. Estrella owns or has the option to acquire a 100% interest in the property. The Company interrupted its work schedule on the property recently due to strikes and disruptions in the city of Cajamarca associated with the Minas Conga development project of Newmont/Buenaventura, however there are no conflicts or disruptions on the property. Two distinctive types of gold mineralization have been identified and are being explored at Colpayoc including porphyry-gold style mineralization at the Daylight Zone, and structurally-controlled gold with silver and base metals at the Cerro Rico Zone. Most work has focused on the Daylight porphyry gold system where the Company is preparing an updated NI 43-101 resource estimate based on the 2011 drill results. Recent mapping indicates that the Daylight Zone is much larger than original mapping had indicated and extends well beyond the area of recent drilling. Previously the Daylight porphyry was thought to be about 350 meters in diameter however new mapping indicates that the magnetite bearing porphyry body is at least 600 meters in diameter and likely extends further, beneath cover rocks in several areas. These results indicate there is further potential to greatly expand the size of the near surface gold resource.
A second gold-porphyry system has been identified approximately 600 meters southwest of the Daylight Zone at the Montura Zone. Montura contains a strong ground magnetics anomaly resulting from disseminated and veinlet magnetite within a 300m x 250m porphyritic intrusion (See attached figure which shows imaged ground magnetics data with prospect, trench and drill hole locations). The porphyry contains well-developed quartz and iron-oxide stockwork with variable magnetite veinlets and disseminated magnetite within sericite-clay-iron oxide altered porphyritic intrusive (oxidized). Reconnaissance rock samples contain anomalous gold values and three historic drill holes (Newcrest) located outside the margin of the main porphyry body encountered anomalous gold values including:
Drill
Hole UTM
Location Azimuth
Inclination Total
Depth (m) From
(m) To
(m) Interval
(m) Gold
(g/t)
CPD 01 E763447.65
N9209806.44 0
-90 300 0.0 44.0 44.0 0.32
and 272.0 300.0 28.0 0.20
CPD 05 E763647.33
N9209732.55 220
-70 160 26.0 82.0 56.0 0.19
CPD 07 E763481.37
N9209957.09 220
-65 141 8.0 141.0 133m 0.13
Keith Laskowski, President & CEO, commented: "Our team has greatly expanded the potential size of this system with this new mapping. Our geophysical data indicated that several porphyry systems may be present and our team has confirmed this. Our drilling at the Daylight Zone has been conservative with the plan of carefully expanding the gold resource, however these mapping results are outside of any drilling and clearly identify the potential to greatly expand the resource beyond our current planned update. The new Montura Zone indicates that we have an entirely new porphyry system, with additional potential in the area between Montura and Daylight." The Company has recently collected systematic channel samples from road cuts within the new mineralized zone which are now being analysed.
Mapping at the Cerro Rico Zone has identified a prospective silicified fault zone, extending more than 1.5 kilometers northwest from the initial trenches at Cerro Rico. The fault zone occurs mainly within Cretaceous limestone and varies from 2 - 30 meters in width. Breccia zones contain silica cement and silica replacement of carbonate clasts, with variable amounts of iron oxide and manganese oxide, classified as jasperoid. Initial trench samples from the southeast end of this fault zone contained previously reported high grade values up to 5.8 meters @ 872.6 g/t silver with 0.7 g/t gold (37.8-43.6 m) in trench CR03. Estrella recently completed one drill hole (COL-11) beneath trench CR03 however no significant mineralization was encountered within the fault zone. A second hole (COL-12) was drilled north of COL 11 but did not intersect the fault zone and no significant values were identified. The silicified fault zone contains at least 6 prospect pits, some with evidence of historic production. The Cerro Rico fault zone continues to the northwest and is now subject of systematic mapping and sampling. The Company is awaiting additional assay results from three remaining holes drilled in adjacent target areas and will complete systematic mapping and sampling of all prospective target areas on the property.
About Estrella Gold Corporation (TSX VENTURE:EST) Estrella Gold is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella Gold has six precious metal exploration projects in Perú. The Company has a minimum of 144,000 ounces of gold at its Colpayoc Project in Peru (7.6 Mt @ 0.6 g/t gold, NI 43-101 Inferred Resource, 2010 SRK) and is expanding its gold resource inventory and also making new gold discoveries. 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. The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). Further information is available at Estrella Gold's website: www.estrellagold.com.
To view the Map associated with this release, visit the following link: http://media3.marketwire.com/docs/est128_F1.pdf.
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 the 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.
Contact Information
Estrella Gold Corporation
Keith Laskowski
President , MSc., QP
(720) 272-6224 or (303) 235-8099 or (604) 687-3520
(604) 688-3392 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
___________________________________________________________
http://www.marketwire.com/press-release/estrella-expands-daylight-gold-zone-identifies-second-porphyry-colpayoc-gold-project-tsx-venture-est-1596312.htm
CSRFF
Estrella Establishes Joint Venture at Pucarana Gold Project, Orcopampa District, Peru
VANCOUVER, BRITISH COLUMBIA, Nov 23, 2011 (MARKETWIRE via COMTEX) --
Estrella Gold Corporation CA:EST -10.77% ("Estrella" or the "Company") is pleased to announce that Esperanza Resources Corporation CA:EPZ -1.94% ("Esperanza") has notified the Company that it has met its Stage 1 obligations, earning a 51% interest in the Pucarana Gold Project in Peru. Esperanza indicated it will continue to manage and operate the Joint Venture, subject to the the Joint Venture Agreement dated May 7, 2007. Estrella now has the option to maintain its 49% interest or receive a diluted interest based on continued expenditures by Esperanza.
The Pucarana Gold project contains 1,889 hectares of land located in the Orcopampa Silver-Gold District of Peru. The property is located between Buenaventura Mines' Poracota Mine, and Chipmo Mine. The properties are located eight kilometers southwest along trend from the Chipmo mine, which produced more than 290,000 ounces of gold in 2010 from high grade gold veins making it one of the largest and most profitable gold producers in South America. The principal mineralized structures at the Chipmo Mine trend southwest towards the alteration zones present at the Pucarana project. Together, Poracota and Chipmo produced 360,000 ounces of gold and 131,000 ounces of silver in 2010, indicating that the district contains very significant potential for additional mineralization. Esperanza recently announced that it has completed its first phase of drilling at Pucarana. No significant results were encountered, however the drilling did encounter low-grade mineralization in vein structures.
About Estrella Gold Corporation CA:EST -10.77%
Estrella Gold is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella Gold has six precious metal exploration projects in Peru. The Company has a minimum of 144,000 ounces of gold at its Colpayoc Project in Peru (NI 43-101 Inferred Resource) and is expanding its gold resource inventory and also making new gold discoveries. 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. The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange CA:EST -10.77% . 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.
Contacts:
Estrella Gold Corporation
Keith Laskowski
President, CEO, QP
(720) 272-6224 or (303) 235-8099 or (604) 687-3520
(604) 688-3392 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
___________________________________________________________
http://www.marketwatch.com/story/estrella-establishes-joint-venture-at-pucarana-gold-project-orcopampa-district-peru-2011-11-23-9290?reflink=MW_news_stmp
CSRFF
Here is ho the Estrella Gold news release played in Lima, Peru:
Quote:
_______________________________________________________________
15:35 Estrella likely to increase resource estimate at Colpayoc gold project, Peru
Lima, Nov. 03 (ANDINA). Canadian-based Estrella Gold Corporation said it would increase its resource estimate on the Daylight Gold Zone at its flagship Colpayoc gold project in the Yanacocha Gold District, located in Cajamarca, northern Peru.
The company announced it is preparing an updated resource estimate adding it has already completed 10 drill holes in 2011.
The Daylight Gold Zone contains a 400 meter diameter area of outcropping gold mineralization, which occurs within a porphyry gold system, surrounded by sedimentary rocks.
In 2010 SRK Consultants calculated an initial NI 43-101 compliant inferred resource based on a small amount of drilling, identifying a minimum of 7.6 million tonnes with 0.6 g/t gold with 144,600 ounces of gold (0.3 g/t cutoff), mainly oxide.
The SRK report confirmed that the gold resource remained open for expansion, and that the Daylight Gold Zone has potential to contain a larger gold resource.
Exploration drill holes completed by Estrella were located at in-fill and step-out drill sites from the current resource and are intended to provide data necessary to expand the gold resource.
The results identify mineralization which covers an area that is roughly 250 meters long by 200 meters wide with higher-grade gold zones trending roughly north-south.
The gold zone remains open for expansion on the east, with all six holes collared in mineralization, and to the north, south, and at depth.
Estrella has contracted Global Geotechnologies Inc. of Littleton Colorado to prepare the updated NI 43-101 compliant resource.
Keith Laskowski, President and CEO of Estrella, said the company has completed its initial resource estimate with only four historic drill holes, while historic trench results indicated that gold mineralization is continuous over a large area.
"I wanted to provide a base platform of value for shareholders with the initial resource estimate. We have now completed 10 additional holes which will expand the resource substantially; however we have still only drilled to about 150 meters in depth, " he said.
Laskowski stated drill results clearly indicate that the gold mineralization extends beyond the company's current drilling at surface and at depth.
"Most of our drilling has focused on the oxide gold mineralization, which extends to depth ranging from 50 – 90 meters. This type of gold system typically extends to much greater depths indicating the potential for even greater expansion of this resource in the future," he said.
Estrella Gold is a prospect generator company focused on gold exploration and resource definition in Latin America, with six precious metal exploration projects in Peru.
It has a minimum of 144,000 ounces of gold at its Colpayoc project in Peru and is expanding its gold resource inventory and also making new gold discoveries. It has 24.1 million shares issued and outstanding on the TSX Venture Exchange.
(END) LVT/LVT
________________________________________________________________
http://www.andina.com.pe/Ingles/Noticia.aspx?Id=BkR/2apQO4w=
CSRFF
Estrella Prepares Updated Resource at Colpayoc Gold Project, Peru
VANCOUVER, BRITISH COLUMBIA, Nov 03, 2011 (MARKETWIRE via COMTEX) --
Estrella Gold Corporation CA:EST +4.92% ("Estrella" or the "Company") is pleased to announce it is preparing an updated resource estimate on the Daylight Gold Zone at its flagship Colpayoc Gold Project in the Yanacocha Gold District in northern Peru. Estrella completed 10 drill holes in 2011 (previously reported). The Daylight Gold Zone contains a 400 meter diameter area of outcropping gold mineralization. Mineralization occurs within a porphyry gold system, surrounded by sedimentary rocks. In 2010 SRK Consultants calculated an initial NI 43-101 compliant inferred resource based on a small amount of drilling. The inferred resource identified a minimum of 7.6 million tonnes @ 0.6 g/t gold with 144,600 ounces of gold (0.3 g/t cutoff), mainly oxide. The SRK report confirmed that the gold resource remained open for expansion, and that the Daylight Gold Zone has potential to contain a larger gold resource. Exploration drill holes completed by Estrella were located at in-fill and step-out drill sites from the current resource and are intended to provide data necessary to expand the gold resource.
Drill results shown on the attached map exhibit grade variations typical of a gold porphyry system ranging from 0.1 - 1.3 g/t. These results identify mineralization which covers an area that is roughly 250 meters long by 200 meters wide with higher-grade gold zones trending roughly north-south. The gold zone remains open for expansion on the east, with all six holes collared in mineralization, and to the north, south, and at depth.
Estrella has contracted Global Geotechnologies Inc. of Littleton Colorado to prepare the updated NI 43-101 compliant resource. Keith Laskowski, President and CEO of Estrella, commented: "We completed our initial resource estimate with only four historic drill holes, while historic trench results indicated that gold mineralization is continuous over a large area. I wanted to provide a base platform of value for shareholders with the initial resource estimate. We have now completed 10 additional holes which will expand the resource substantially; however we have still only drilled to about 150 meters in depth. Drill results clearly indicate that the gold mineralization extends beyond our current drilling at surface and at depth. Most of our drilling has focused on the oxide gold mineralization, which extends to depth ranging from 50 - 90 meters. This type of gold system typically extends to much greater depths indicating the potential for even greater expansion of this resource in the future."
About the Colpayoc NI 43-101 Compliant Gold Resource: The initial resource estimate was prepared by SRK Consulting (U.S.) Inc. as part of a NI 43-101 Technical Report completed in June 2010. The resource estimate contained the following:
Colpayoc Daylight Gold Zone - Inferred Resource (0.30 g/t low-grade cutoff):
Oxide: 4,663,275 tonnes @ 0.59 g/t containing 87,800 oz
Reduced: 2,913,019 tonnes @ 0.61 g/t containing 56,800 oz
Total: 7,576,293 tonnes @ 0.60 g/t containing 144,600 oz gold
The block model utilizes an inverse-distance squared (ID2) model, with 6m x 10m x 10m block sizes, using Mintec's MineSight software. All gold mineralization is hosted within sheeted and stockwork quartz+/magnetite+/pyrite-iron oxide veins, hosted within a highly altered granitic intrusion. Oxidation extends to approximately 45 meters depth, and preliminary bottle-role tests on surface trench samples indicate favorable recoveries for oxidized material. The outcropping area of the intrusion is almost entirely altered and mineralized, however overlying sedimentary rocks limit the exposure of this mineralized rock. Although the property has received only a small amount of drilling, due to the consistent and broad areas of gold mineralization, the Company has prepared this initial gold resource estimate to guide future exploration and expansion of the resource. This initial resource estimate benefits from extensive surface trench data, however the small number of drill holes generally limits the extent of interpolated mineralization at depth. The four drill holes penetrated consistent mineralization to the end of each hole (200 meters), however resources can only be included adjacent to the drill holes, and between the drill holes on interpreted northeast structural trends, until additional drilling is completed. There is exploration potential beneath mineralized trenches that is not fully tested by drilling.
About Estrella Gold Corporation CA:EST +4.92%
Estrella Gold is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella Gold has six precious metal exploration projects in Peru. The Company has a minimum of 144,000 ounces of gold at its Colpayoc Project in Peru (NI 43-101 Inferred Resource) and is expanding its gold resource inventory and also making new gold discoveries. 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. The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange CA:EST +4.92% . 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.
To view the map associated with this press release, please visit: http://media3.marketwire.com/docs/est-1103-map.jpg .
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.
Contacts:
Estrella Gold Corporation
Keith Laskowski
President , MSc., QP
(720) 272-6224, (303) 235-8099 or (604) 687-3520
klaskowski@estrellagold.com
www.estrellagold.com
SOURCE: Estrella Gold Corporation
mailto:klaskowski@estrellagold.com
http://www.estrellagold.com
Copyright 2011 Marketwire, Inc., All rights reserved.
___________________________________________________________________
http://www.marketwatch.com/story/estrella-prepares-updated-resource-at-colpayoc-gold-project-peru-2011-11-03
CSRFF
A good bit of insider buying over the past few months:
http://canadianinsider.com/coReport/allTransactions.php?ticker=EST
CSRFF=EST
CSRFF
Estrella President Keith Laskowski on Peru gold assays of 0.52 g/t gold over 110.5m
Estrella Gold Corp TSXV:EST announced results from its Colpayoc Gold Project in northern Peru. Assays include
0.52 g/t gold over 110.5 metres (including 1.27 g/t over 10.1 metres)
0.57 g/t over 53 metres (including 0.34 g/t over 13 metres)
0.4 g/t over 43.7 metres (including 0.98 g/t over 5 metres)
0.65 g/t over 22.5 metres
0.62 g/t over 25.5 metres (including 0.99 g/t over 8.1 metres)
President/CEO/Director Keith Laskowski tells ResourceClips.com, “These results are very similar to what we predicted. We’ve got an outcropping gold deposit, and we’re collecting systematic drill holes through it so we can qualify those results for a 43-101-compliant resource. We anticipate that this resource will substantially increase the existing compliant resource. We’re not in a position to drill off the entire deposit—our drill holes are quite shallow, generally down to about 130 to 150 metres. We’ll probably get around 400,000 ounces near surface, but these types of systems are entirely capable of producing multimillion-ounce deposits, if you drill deeper. We’re going to be looking for a partner to do that.”
Read the rest of the interview: http://bit.ly/oV2JLG.
Keith Laskowski of Estrella Gold (EST.v) (also CSRFF) interviewed by Reuters on Peru mining scene
INTERVIEW-Peru's Humala right on mine policy - Estrella CEO
7 hours ago by Thomson Reuters
* Changes in mining sector welcomed by some miners
* Estrella has big exploration portfolio in Peru
By Terry Wade
LIMA, Oct 6 (Reuters) - President Ollanta Humala's effort to solve conflict over natural resources by steering more money to rural communities is welcome and could make life easier for mining firms, the head of a top Peruvian junior miner said.
Keith Laskowski, chief executive of Estrella Gold , said the previous government paid too little attention to settling disputes between corporations and communities that arose as billions of dollars poured into Peru's mining sector over the last 15 years.
"The prior administration wasn't dealing with this very much, or at all," Laskowski, whose company runs exploration and resource definition work on 30 properties in the Andean country, told Reuters.
"I'm very glad (the new president is) trying to deal with it because it was becoming prohibitive in some instances to try to explore."
Then-president Alan Garcia helped lure $40 billion in planned investment to Peru's mining sector, only to see his term marred by conflicts that often turned violent. More than 200 communities have organized to halt mining or oil projects.
But Humala, a leftist former military officer who took office in July, has won quick approval for two bills in Congress aimed at calming tensions.
One requires firms to consult with local communities about mining and oil projects proposed near their lands before beginning construction, while the other raised royalties on miners to fund infrastructure and social programs.
"(The government) has to equalize these issues and improve the landscape for the communities that, to some degree, have certainly been offended and overlooked," Laskowski said.
He said mining companies of all sizes must develop strong relations with communities, which often are worried about pollution, losing control of scarce water supplies or not receiving direct economic benefits from mining.
"To be successful, you can't have a separation between the community and the company," said Laskowski, a geologist who is also a consultant for the International Finance Corporation -- a member of the World Bank group -- on its potential equity investments in small mining companies.
"You can have the best deposit in the world, but if you don't have the community on your side you aren't going to go anywhere," he said.
NEW SOUTH AFRICA
Estrella arguably has the biggest exploration portfolios in Peru and 24 of its properties are part of a strategic alliance with Cliffs Natural Resources .
"We are in Peru because it has fantastic mineral endowment, meaning that we have a better chance of success, and it has a good mining law," he said. "We used to think South Africa was incredibly endowed -- I think Peru is the new South Africa when you look at the amount of diverse metals here."
Though Peru is a top global metals producer, its mining ministry says less than 1 percent of the country's existing mineral deposits are being mined.
The laws introduced by Humala, who was initially feared by many in Peru's mining sector, were made after he negotiated the content of the bills with mining companies.
In practice, that means the consultation law will not give veto power to communities when it goes into effect in January and royalties will be charged on a sliding scale depending on profit margins in boom and bust years.
Those two laws still need to be implemented and companies are trying to persuade the government to apply them in ways that won't turn off investors.
Humala is also reviewing the process for giving licenses to exploration companies, apparently in a bid to make sure all companies are actively exploring their concessions and not just holding them to speculate.
Any changes for junior mining companies will need to be made in a way that does not hurt exploration and shut off the country's future pipeline of big projects, Laskowski said.
More and more hurdles could reduce Peru's competitiveness in a difficult and often risky business.
But for now, Laskowski's feeling is that the new taxes and consultation requirement are reasonable.
"I think the bottom line is there is a need for more money to go to the communities and this is one way to do it," he said. (Editing by Dale Hudson)
_________________________________________________________________
http://www.incakolanews.blogspot.com/2011/10/keith-laskowski-of-estrella-gold-estv.html
CSRFF
A Little Help From Their Friends
Estrella Forms Golden Alliances in Latin America
By Greg Klein
President/CEO/Director Keith Laskowski describes it as “a micro-cap company with a mid-sized company’s portfolio.” Indeed, Estrella Gold Corp’s range of properties in Peru and Chile belies its $14-million market cap. But Estrella didn’t accomplish that singlehandedly.
“We have 15 properties that we acquired as part of a strategic alliance with Cliffs Natural Resources,” Laskowski explains. “They’re funding us to explore these properties. And we have six other properties that we hold independently. They’re in various stages of exploration, and we’re seeking partners on those properties as well. We have two joint ventures in place.”
Estrella’s flagship is its 100%-owned Colpayoc Project, 12 kilometres from South America’s largest gold producer, Newmont’s Yanacocha Mine in northern Peru. Primarily a gold deposit, Colpayoc also shows signs of copper, silver and molybdenum. A July 2010 43 101 estimates 7.58 million tonnes grading 0.59 grams per tonne for 144,600 gold ounces using a 0.3 g/t cutoff.
Not exactly market-shattering results, but Laskowski is unfazed. “The reason it was so small was because SRK Consulting was not comfortable extending the mineralization between the drill holes. Right now we’re drilling between these holes, which is not very risky at all. We anticipated that we would be drilling wide zones of uniform mineralization, and in fact that’s what we’re starting to see.”
Since December 2010 Estrella has drilled a total of 14 core holes for over 2,300 metres. The most recent results, released September 20, include:
0.52 g/t gold over 110.5 metres (including 1.27 g/t over 10.1 metres)
0.57 g/t over 53 metres (including 0.34 g/t over 13 metres)
0.4 g/t over 43.7 metres (including 0.98 g/t over 5 metres)
0.65 g/t over 22.5 metres
0.62 g/t over 25.5 metres (including 0.99 g/t over 8.1 metres)
Laskowski expects results like these to increase the resource substantially. “We’re not in a position to drill off the entire deposit,” he says. “Our drill holes are quite shallow, generally down to about 130 to 150 metres. We’ll probably get around 400,000 ounces near surface, but these types of systems are entirely capable of producing multimillion-ounce deposits, if you drill deeper. We’re going to be looking for a partner to do that.”
Estrella already has a partner for its Pucarana Gold Property located 15 kilometres east of Peru’s Poracota Mine and eight kilometres west of the Chipmo Mine. Together those two produced 360,000 ounces gold and 131,000 ounces silver last year. The JV allows operator Esperanza Resources to earn up to a 60% interest by spending $1.3 million and paying Estrella $80,000. Initial drill results are expected this fall.
Estrella’s other joint venture is Pampa Poroma, an iron oxide-copper-gold deposit in southern Peru. Although drilling has yet to be announced, Pampa Poroma is the first JV with Cliffs to emerge from the 15-property deal signed in February. The alliance has Cliffs funding Estrella $400,000 a year to explore properties from Estrella’s GIS-based database, which targets deposits using geological, geophysical and geochemical data, along with Landsat imagery. Where exploration looks promising, Cliffs has the right to an initial 50/50 JV, with options allowing the company to increase its stake up to a total of 80%.
What’s in it for Estrella? Access to much deeper pockets. At $8.45 billion, Cliffs’ market cap dwarfs Estrella‘s.
We’ve got a pretty large portfolio and a pretty small share structure. We hope to increase the value of that share price through optimization of these properties
—Keith Laskowski
The search continues for JV partners on the company’s five other properties, which include the Trol Gold Project in southern Chile. Trol has a non-43-101 resource estimate of 6.25 million tonnes grading 0.72 g/t for 144,700 ounces gold at a 0.5 g/t cutoff.
The company also has applications pending for 27,000 hectares in the Dominican Republic, home to another JV of note, Barrick/Goldcorp’s 23.7-million-ounce-reserve Pueblo Viejo Mine.
But most of Estrella’s activity is in Peru, and Laskowski speaks highly of the country, despite concern among others in the industry. Last June the Peruvian government cancelled Bear Creek Mining’s rights to its Santa Ana concessions. The following month a new president with an interventionist reputation took office.
“The challenges that Bear Creek faced are unique to the property and not reflective of the country,” Laskowski says. “There’s a certain set of circumstances that unfortunately culminated just ahead of the election. There were concerns involving the new president and his perceived reputation, but those issues greatly diminished during the two months prior to the election. The new president, Ollanta Humala, softened his stance considerably, moved to the middle, and that’s the reason he was elected. What we’re seeing now is that he’s actually staying true to his words and following through with progressive mining reforms that are going to impact the industry in a minimum manner but hopefully satisfy some of the needs of the people in the poorer sections of the country.
“About 56% of [Peru's] export income comes from mine production. So they’re pretty well hooked on mining. In our business we’re prospect generators, and their mines are going to deplete their resources, so they need to replace them.”
“I’ve looked at a lot of countries,” he emphasizes. “At the end of the day, I don’t know a better country in Latin America.”
With more partners and potential partners than a TV soap opera character, Laskowski doesn’t see Estrella going into production itself. “We’re geologists and accountants,” he says. “We focus on what we know best.”
At press time Estrella had 24.1 million shares trading at $0.59 each for a market cap of $14.2 million.
“So we’ve got a pretty large portfolio and a pretty small share structure,” Laskowski concludes. “We hope to increase the value of that share price through optimization of these properties.”
_________________________________________________________________
http://resourceclips.com/2011/09/26/with-a-little-help-from-their-friends/
CSRFF
Estrella Appoints New CFO and Sets Up New Office
VANCOUVER, BRITISH COLUMBIA, Oct 03, 2011 (MARKETWIRE via COMTEX) --
Estrella Gold Corporation CA:EST -1.43% ("Estrella" or the "Company") is relocating its corporate office to Vancouver, British Columbia effective October 1, 2011. The Board of Directors of the Company has appointed Ms. Winnie Wong, CA, as the new Chief Financial Officer and Corporate Secretary, and has established a management contract with Pacific Opportunity Capital Ltd. ("POCL"). Ms. Wong is the Vice President of Client Services at POCL, a firm the Company has retained to provide financial management and accounting services. Following her graduation from Queen's University, Ms. Wong worked with Deloitte & Touche where she earned her Chartered Accountant designation. Ms. Wong also acts as the CFO and Corporate Secretary a number of TSE and TSX Venture Exchange companies including Rare Element Resources Ltd., Animas Resources Ltd. and Avrupa Minerals Ltd.
The Board of Directors wishes to express their sincere appreciation to Khurram Qureshi who diligently served as the Company's CFO, and to Michelle Carreau, the Company's corporate secretary, who both have helped Estrella for several years. Keith Laskowski, president of Estrella commented: "We are grateful to our outgoing officers for their dedicated service as the Company focus's its program in Vancouver, closer to our investor base and markets. We look forward to working with Winnie and her team at POCL and the new opportunities that her involvement brings to Estrella." The Board of Directors have granted 170,000 incentive stock options on October 3, 2011 to one new officer and one new employee. The stock options have an exercise price of $0.74 per share and vest quarterly over an 18 month period, expiring on October 3, 2014. All options granted and any common shares issued upon the exercise of the options will be subject to a statutory four month hold. The granting of the options is subject to regulatory approval.
About Estrella Gold Corporation CA:EST -1.43% : Estrella Gold is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella Gold has six precious metal exploration projects in Peru. The Company has a minimum of 144,000 ounces of gold at its Colpayoc Project in Peru (NI 43-101 Inferred Resource) and is expanding its gold resource inventory and also making new gold discoveries.. The Company has 23.7 million shares issued and outstanding on the TSX Venture Exchange (tsx venture:EST). 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.
Contacts:
Estrella Gold Corporation
Keith Laskowski
President, MSc., QP
Direct: (800) 362-2040 or (720) 272-6224
(416) 927-1222 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
SOURCE: Estrella Gold Corporation
mailto: klaskowski@estrellagold.com
http://www.estrellagold.com
______________________________________________________________
http://www.marketwatch.com/story/estrella-appoints-new-cfo-and-sets-up-new-office-2011-10-03-931210?reflink=MW_news_stmp
CSRFF
Estrella Identifies New Exploration Targets in Peru With Cliffs
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2011) -
Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce expansion of the Company's property holdings in Peru with applications for 45 claims covering 22 new exploration targets with a total of 36,000 hectares of mineral rights. The Company's applications have been accepted by the Government of Peru and are being processed. New claims cover 22 early stage exploration targets which have been selected based on a combination of ASTER remote sensing data, favorable geology, alteration, and availability of open land for mineral claim application as part of the Company's Generative Exploration programs. Target generation utilized the Company's strategic database, combined with publicly available data, and the staff's exploration experience throughout Peru. The properties contain iron oxide-copper-gold targets and are subject to Estrella's IOCG Exploration Alliance Agreement with Cliffs Natural Resources Exploration Inc., a wholly-owned subsidiary of Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF) ("Cliffs"). Cliffs is funding the initial exploration stage in accordance with the budgeted amount of $400,000 per year for two years, subject to the terms and conditions described in previous News Releases issued on February 15, 2011 and March 7, 2011 and the Agreement. These properties bring the total property held subject to the Agreement to 52,500 hectares. Field teams are systematically evaluating individual target areas to select properties for possible advancement and nomination as a property of merit.
About Estrella Gold Corporation (TSX VENTURE:EST): Estrella Gold is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella Gold has six precious metal exploration projects in Perú. The Company has a minimum of 144,000 ounces of gold at its Colpayoc Project in Peru (NI 43-101 Inferred Resource) and is expanding its gold resource inventory and also making new gold discoveries. 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. The Company has 23.7 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). 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.
Contact Information
Estrella Gold Corporation
Keith Laskowski
President , MSc., QP
(800) 362-2040 or (720) 272-6224
(416) 927-1222 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
http://www.marketwire.com/press-release/estrella-identifies-new-exploration-targets-in-peru-with-cliffs-tsx-venture-est-1566926.htm
CSRFF
Latest Estrella drill results as portrayed in the Lima newspaper:
Estrella: Drilling results at Colpayoc project indicates greater gold potencial
Lima, Sep. 22 (ANDINA). Canadian-based Estrella Gold Corporation said drilling results at its Colpayoc gold project, located in the department of Cajamarca, northern Peru, indicates the potential for greater expansion of gold in the area.
The company recently announced drilling results from the five remaining drill holes completed at the Daylight Gold Zone of the Colpayoc gold project.
Keith Laskowski, President and CEO of Estrella, said these results provide the company with the basis for preparing an updated, and expanded resource estimate.
"The results clearly indicate that the gold mineralization extends beyond our current drilling at surface and at depth. Most of our drilling has focused on the oxide gold mineralization, which extends to depth ranging from 50 - 90 meters," he said.
"Our deepest drill hole is about 200 meters, and this type of gold system typically extends to much greater depths indicating the potential for greater expansion of this resource," he added.
Colpayoc is located 12 kilometers southwest of the Yanacocha mine complex in northern Peru and contains 5,774 hectares (57.7 square kilometers) with gold and silver mineralization in three areas.
Estrella has completed a total of 14 core holes (2357.2 meters) at the Colpayoc project since December 2010. Five holes from the Daylight Zone previously reported wide zones of gold mineralization.
The five holes reported here bring the total to 10 core holes including 1556.3 meters of drilling on the Daylight Gold Zone.
The Daylight Gold Zone contains a 400 meter diameter area of gold mineralization exposed at surface. Mineralization occurs within an intrusive body of rock within a porphyry gold system, surrounded by sedimentary rocks.
Drill results recently unveiled exhibit grade variations typical of a gold porphyry system, with individual 1-2 meter wide gold assays plotted and projected to surface from these inclined drill holes.
The results identify mineralization which covers an area that is roughly 250 meters long by 200 meters wide. The higher-grade gold zones trend roughly north-south.
The gold zone remains open for expansion on the east, with all six holes collared in mineralization. The zone also remains open to the north and south along strike, and down dip, for further expansion.
Estrella Gold is a prospect generator focused on gold in Latin America. Its dual strategies focus on generating new prospects/discoveries and increasing the company's inventory of gold resource ounces.
The company has a NI 43-101 compliant inferred gold resource of 144,600 ounces at its Colpayoc project in Peru. It also has seven precious metal exploration projects in Peru and one in Chile, and 23.7 million shares issued and outstanding on the TSX Venture Exchange.
(END) LVT/LVT
___________________________________________________________
http://www.andina.com.pe/Ingles/Noticia.aspx?Id=LiqxlLzy/fc=
CSRFF
Estrella reports Peru Gold Results including 0.52 g/t over 110.5m
(From Interview with ResourceClips.com)
Estrella Gold Corp TSXV:EST announced results from its Colpayoc Gold Project in northern Peru. Assays include
0.52 g/t gold over 110.5 metres (including 1.27 g/t over 10.1 metres)
0.57 g/t over 53 metres (including 0.34 g/t over 13 metres)
0.4 g/t over 43.7 metres (including 0.98 g/t over 5 metres)
0.65 g/t over 22.5 metres
0.62 g/t over 25.5 metres (including 0.99 g/t over 8.1 metres)
President/CEO/Director Keith Laskowski tells ResourceClips.com, “These results are very similar to what we predicted. We’ve got an outcropping gold deposit, and we’re collecting systematic drill holes through it so we can qualify those results for a 43-101-compliant resource. We anticipate that this resource will substantially increase the existing compliant resource. We’re not in a position to drill off the entire deposit—our drill holes are quite shallow, generally down to about 130 to 150 metres. We’ll probably get around 400,000 ounces near surface, but these types of systems are entirely capable of producing multimillion-ounce deposits, if you drill deeper. We’re going to be looking for a partner to do that.”
We’re not in a position to drill off the entire deposit. We’re going to be looking for a partner to do that
—Keith Laskowski
Referring to the search for a Colpayoc JV partner, Laskowski said, “That’s our business model. Our investors are funding us as prospect generators, so we develop properties to a point where we can achieve optimum value for them. We’re actually a micro-cap company with a mid-sized company’s portfolio. Our recent financing gives us a bit of breathing room, so now we can try to optimize the value on some of these other properties instead of focusing on one property.”
As a “prospect generator,” Laskowski doesn’t see Estrella taking the project into production. “We’re geologists and accountants. We focus on what we know best,” he says.
Last June the Peruvian government cancelled Bear Creek Mining Corp’s rights to its Santa Ana mineral concessions. The following month a new president with an interventionist reputation took office.
“There’s a lot of concern about Peru,” Laskowski concedes. “But the challenges that Bear Creek faced are unique to the property and not reflective of the country. There’s a certain set of circumstances that unfortunately culminated just ahead of the election.
“There were concerns involving the new president and his perceived reputation, but those issues greatly diminished during the two months prior to the election. The new president, Ollanta Humala, softened his stance considerably, moved to the middle, and that’s the reason he was elected. What we’re seeing now is that he’s actually staying true to his words and following through with progressive mining reforms that are going to impact the industry in a minimum manner but hopefully satisfy some of the needs of the people in the poorer sections of the country. In the long term it’s good for everybody. Right now, though, the markets are a little concerned. I think it’s good, but it’s a tough task to communicate to investors how those details fit together.
“I’ve looked at a lot of countries,” he adds. “At the end of the day, I don’t know a better country in Latin America. Colombia’s very favourable, but the mining law in Peru is much better. Brazil’s a little more difficult, Ecuador’s off limits. That’s my opinion.
“About 56% of their export income comes from mine production. So they’re pretty well hooked on mining. In our business we’re prospect generators, and their mines are going to deplete their resources, so they need to replace them. The only way you can have 56% of your export income from mine production is to have a good mining country with well-trained people. Most important, it’s got incredible mineral endowment.
“The infrastructure is perfect,” he says. “If I took you out there at the right time of the day you’d be shaking in your boots by the blasts from Newmont’s adjacent mine at Yanacocha. I think it produced about 1.3 million ounces last year. We have roads to the property; a power line crosses the property; we’re on the border of Newmont’s property. The infrastructure’s incredible.”
View Company Profile
Contact:
Estrella Gold Corp
800.362.2040
720.272.6224
by Greg Klein
This article was posted by Greg Klein on Wednesday, September 21st, 2011 at 3:50 pm.
_________________________________________________________
http://resourceclips.com/2011/09/21/estrella-reports-peru-gold-results-including-0-52-gt-over-110-5m/
CSRFF
Estrella Drill Results From Colpayoc Gold Project, Peru
Drill Hole COL 07: 110.5 meters @ 0.52 g/t Gold
TORONTO, ONTARIO--(Marketwire - Sept. 20, 2011) -
Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce drilling results from the five remaining drill holes completed at the Daylight Gold Zone of the Colpayoc gold project. Colpayoc is located 12 kilometers southwest of the Yanacocha mine complex in northern Peru and contains 5,774 hectares (57.7 square kilometers) with gold and silver mineralization in three areas. Estrella has completed a total of 14 core holes (2357.2 meters) at the Colpayoc project since December 2010. Five holes from the Daylight Zone previously reported wide zones of gold mineralization. The five holes reported here bring the total to 10 core holes including 1556.3 meters of drilling on the Daylight Gold Zone. All drill holes and assay results are shown on the attached map (also at www.estrellagold.com).
The Daylight Gold Zone contains a 400 meter diameter area of gold mineralization exposed at surface. Mineralization occurs within an intrusive body of rock within a porphyry gold system, surrounded by sedimentary rocks. In 2010 SRK Consultants calculated an initial NI 43-101 compliant inferred resource based on a small amount of drilling. The inferred resource identified a minimum of 7.6 million tonnes @ 0.6 g/t gold with 144,600 ounces of gold (0.3 g/t cutoff), mainly oxide. The SRK report confirmed that the gold resource remained open for expansion, and that the Daylight Gold Zone has potential to contain a larger gold resource. Exploration drill holes completed by Estrella were located at in-fill and step-out drill sites from the current resource and are intended to provide data necessary to expand the gold resource. Drill results contain the following significant assay intervals:
Drill Hole Total
Depth(m ) Depth of Oxidation Azimuth Inc. Interval
From (m ) Interval
To (m ) Interval
(m ) Gold
g/t
COL - 06 135.5 50.8 m 270° -50° 66.0 83.0 17.0 m 0.35 g/t
120.0 135.0 15.0 m 0.30 g/t
COL - 07 153.6 58.0 m 270° -50° 1.3 11.0 9.7 m 0.40 g/t
14.0 124.5 110.5 m 0.52 g/t
inc 46.0 56.1 10.1 m 1.27 g/t
134.5 140.5 6.0 m 0.31 g/t
COL - 08 147.5 91.0 m 270° -50° 0.0 22.5 22.5 m 0.65 g/t
COL - 09 205.6 53.4 m 270° -50° 0.3 44.0 43.7 m 0.40 g/t
inc 6.0 11.0 5.0 m 0.98 g/t
104.0 129.5 25.5 m 0.62 g/t
inc 116.0 124.1 8.1 m 0.99 g/t
138.5 150.0 11.5 m 0.50 g/t
COL - 10 153.5 14.1 270° -50° 10.0 63.0 53.0 m 0.57 g/t
78.5 91.5 13.0 m 0.34 g/t
Drill results shown on the attached map exhibit grade variations typical of a gold porphyry system, with individual 1-2 meter wide gold assays plotted and projected to surface from these inclined drill holes. The results identify mineralization which covers an area that is roughly 250 meters long by 200 meters wide. The higher-grade gold zones trend roughly north-south. The gold zone remains open for expansion on the east, with all six holes collared in mineralization. The zone also remains open to the north and south along strike, and down dip, for further expansion.
Keith Laskowski, President and CEO of Estrella, commented: "These results provide us with the basis for preparing an updated, and expanded resource estimate. The results clearly indicate that the gold mineralization extends beyond our current drilling at surface and at depth. Most of our drilling has focused on the oxide gold mineralization, which extends to depth ranging from 50 – 90 meters. Our deepest drill hole is about 200 meters, and this type of gold system typically extends to much greater depths indicating the potential for greater expansion of this resource."
QA/QC: Assay results identify those mineralized intervals that contain a minimum continuous width of 6.0 meters with a minimum gold content of 0.3 g/t. Only two internal or one adjacent interval of dilution is allowed in the calculation of intercepts. Higher grade intervals are calculated using a minimum continuous width of 5.0 meters with a minimum gold content of 0.8 g/t gold. Drill hole samples were collected in accordance with accepted industry standards and procedures. The samples were submitted to the ALS Chemex Labs (ISO 9001:2000 accredited) in Lima, Peru for analysis. Gold was analyzed by fire assay with an AAS finish and multi-element analyses were determined with aqua regia digestion and ICP MS/AAS techniques. The Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks and field duplicates.
About the Colpayoc NI 43-101 Compliant Gold Resource: The initial resource estimate was prepared by SRK Consulting (U.S.) Inc. as part of a NI 43-101 Technical Report completed in June 2010. The resource estimate contained the following:
Colpayoc Daylight Gold Zone: Inferred Resource (0.30 g/t low-grade cutoff):
Oxide: 4,663,275 tonnes @ 0.59 g/t containing 87,800 oz
Reduced: 2,913,019 tonnes @ 0.61 g/t containing 56,800 oz
Total: 7,576,293 tonnes @ 0.60 g/t containing 144,600 oz gold
The block model utilizes an inverse-distance squared (ID2) model, with 6m x 10m x 10m block sizes, using Mintec's MineSight software. All gold mineralization is hosted within sheeted and stockwork quartz+/magnetite+/pyrite-iron oxide veins, hosted within a highly altered granitic intrusion. Oxidation extends to approximately 45 meters depth, and preliminary bottle-role tests on surface trench samples indicate favorable recoveries for oxidized material. The outcropping area of the intrusion is almost entirely altered and mineralized, however overlying sedimentary rocks limit the exposure of this mineralized rock. Although the property has received only a small amount of drilling, due to the consistent and broad areas of gold mineralization, the Company has prepared this initial gold resource estimate to guide future exploration and expansion of the resource. This initial resource estimate benefits from extensive surface trench data, however the small number of drill holes generally limits the extent of interpolated mineralization at depth. The four drill holes penetrated consistent mineralization to the end of each hole (200 meters), however resources can only be included adjacent to the drill holes, and between the drill holes on interpreted northeast structural trends, until additional drilling is completed. There is exploration potential beneath mineralized trenches that is not fully tested by drilling.
About Estrella Gold Corporation (TSX VENTURE:EST): Estrella Gold is a "Prospect Generator" focused on gold in Latin America. The Company's dual strategies focus on 1) generating new prospects/discoveries and 2) increasing the Company's inventory of gold resource ounces. Estrella has a NI 43-101 compliant inferred gold resource of 144,600 ounces at its Colpayoc project in Peru. 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. Estrella Gold has seven precious metal exploration projects in Perú and one in Chile. The Company has 23.7 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). Further information is available at Estrella Gold's website: www.estrellagold.com.
To view the Maps associated with this release, please visit the following link: http://media3.marketwire.com/docs/est920_Maps.pdf.
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 the 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.
Contact Information
Estrella Gold Corporation
Keith Laskowski
President & CEO, MSc., QP
(800) 362-2040 or (720) 272-6224
(416) 927-1222 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
__________________________________________________________
http://www.marketwire.com/press-release/estrella-drill-results-from-colpayoc-gold-project-peru-tsx-venture-est-1563250.htm
CSRFF
Company Fact Sheet for August:
http://www.estrellagold.com/i/pdf/Estrella%20Gold%20Fact%20Sheet%20-August%202011.pdf
CSRFF
Mickey Fulp highlights Estrella Gold (CSRFF)
Mickey Fulp: Plan on Rebound After Labor Day
The Gold Report
Sep. 7, 2011, 4:00 AM
(Other stock information edited out)
Mickey Fulp: Plan on Rebound After Labor Day
The Gold Report: In the midst of a number of record three-digit swings in the Dow of late, the market's just pounded some otherwise healthy precious metals stocks to a fraction of their logical commodity value. You pointed out in a July Musing that TSX junior resource valuations were down 20% from their March highs. Is this a good time to take a look at micro caps, Mickey?
Mickey Fulp: I think late summer is always a good time to take a look at our junior resource sector because of disinterest during the doldrums. At some point during the summer, stocks oftentimes drift down to their yearly lows or at least a trough.
If you looked at a chart of the Toronto Venture, you'd probably see summer troughs almost every year. Sometimes they last for a couple of months and at other times as little as a week. This year's summer doldrums, caused by lack of liquidity and lack of buying interest, has been going on for a couple of months now and the Venture Exchange continues to drift lower. The TSX index is down 35% from its highs in early March, right before the Prospectors and Developers Association of Canada (PDAC) conference.
So, yes, I think this is a buying opportunity for some of the fundamentally strong micro caps.
TGR: Are the troughs and the opportunities more extreme this year?
MF: I think so. A couple of other things are going on as well, including the global economic unrest with European sovereign debt issues and U.S. politicos doing shenanigans with the debt ceiling. At the same time we had this nearly exponential rise in the price of gold. The gold producers with record cost margins are catching up somewhat with the gold price, but the advanced explorers continue to lag.
TGR: Have any in particular caught your eye?
MF: I'm still bullish on the same stocks, and bear in mind I'm talking my own book here. One is xxxxxxxx, which has projects of significant merit in Portugal, joint venturing with xxxxxxxx. Another one would be Estrella Gold Corp. (EST:TSX.V), a prospect generator in Peru. Both xxxxxx and Estrella are trading at or below their latest private placements, which were taken down by a group of strategic investors with plans for making these better, more boisterous and viable companies.
TGR: That leads into something you often talk about?the importance of evaluating share structure, people, projects and whether a company is undervalued. In a recent Musing, you put a newly listed company, xxxxxx), to that test. The company you dubbed "the new kid on the block in Brazil" seemed to score well on the first three but at the current price of $1.11, do you consider it a good value vis-à-vis its peers?
MF: xxxxxxx is a purely speculative play in which I participated in a couple of private placements before it went public. This speculation is based mainly on the people who have formed and are running this company, including the management of xxxxxxxx and some Brazilian money brokers. It has a very tight share structure. Something on the order of 60% is controlled by either insiders or institutions, apart from family and friends such as me.
(other company information deleted)
TGR: You mentioned Estrella earlier, a prospect generator in Peru, one of your favorite countries. How does Estrella measure up against your criteria?
MF: Very well. It has a tight share structure. In the last few months, it did a $4M financing at $0.65, about where it's trading right now, and put strategic investors into the stock. I have confidence in Keith Laskowski, the president, both in his geologic ability and his ability to attract worthy JV partners. So far, Estrella has only one joint venture, but it's with an up-and-coming, aggressive major, Cliffs Natural Resources (CLF:NYSE). We used to know it as Cleveland Cliffs, a stodgy steel producer. It has since transformed into a very aggressive, diversified mining and smelting company.
TGR: Could Estrella be a double in 12 months or less?
MF: That's why I pick stocks. If I don't see a double in 12 months or less, it's not a company I'm going to pick as a sponsor of my website and put my reputation on the line. We're 16 of 17 since publicly launching this business model in the fall of 2008.
TGR: What could spark Estrella's double?
MF: Additional joint ventures may be the answer. One of the company's projects with potential, located near Yanacocha and Newmont Mining Corp.'s (NEM:NYSE) mines, was recently drilled. It has a small resource, but that should increase substantially with new results. A bevy of other properties, mainly in southern Peru, is available for joint venture right now. So, another JV with a major would certainly be a catalyst.
TGR: Getting back to your point about expecting everything you invest in to double in no more than 12 months. . .
It's up to people to trade. I give them a methodology to have free trading shares, and over a course of three years, I've hit on 16 of 17 that have been held at least 12 months.
TGR: Can't argue with that track record.
MF: Let's look at one that hasn't doubled yet, Estrella. I first mentioned it as an idea at $0.95 in early January, its all-time high was something like $1.24 a few days later, and we formally picked it at $0.70 on June 28. We haven't achieved our goal yet, but we have 10 months for this to become a $1.40 stock. If it does, even if for only an intraday trade, and you have an open order to sell half your position at $1.40, there's your free ride. You're now playing with someone else's money. Then it's a matter of continuing to take profits.
If I sold half at $1.40, I might sell another 5% or 10% at $1.60, and maybe another 5% at $2, depending on what I think the stock's upside is. If there is positive news and it ramps up quickly, I'm a multi-trade seller. That's how occasionally I will have the high trade on a stock because I have many open orders to sell that get automatically renewed every month.
You also set "profit stops" for on the way down in a bear market. For instance, if you get your double at $1.40 on Estrella and take back your investment money, you might set a stop and sell another small tranche at $1.20. Then you're still taking money off the table with a zero-cost basis and continuing to make money even in a down market. There are no paper wins or losses in the stock market. You must execute a trade to generate a profit or a loss on the balance sheet.
So this is a programmed and very conservative way to trade a high-risk speculative market and continually generate profit. Since every junior will have a double from its low to high in any given 52-week period, the key is picking the right stock at the right time when it is undervalued.
TGR: As regards the micro-stocks, have you taken particular interest in any certain regions or sizes or types of companies over the summer?
MF: I haven't taken an interest in very much this summer other than watching companies that continue to get beaten up. They become buying opportunities at some point, when the potential reward meets the risk that's involved in highly speculative micro-cap stocks. That's the purpose of stink bids, to find fundamentally strong stocks, and buy them when they're down on their luck or the markets aren't particularly friendly.
Area plays don't really interest me that much. I have strong ideas about the kind of projects I'm interested in. I don't really concentrate on areas as much as I look at individual companies.
TGR: Have any of your stink bids paid off?
MF: No, they're stink bids and we're in a down market right now. I'm just accumulating some stocks that I already have positions in and I see opportunities to lower my cost basis and wait for a better market. You know a contrarian view requires patience.
TGR: How many companies do you typically have in your personal portfolio, Mickey?
MF: It isn't typical but right now I have between 35 and 40.
TGR: So you're pretty focused.
MF: Well, that is as many as I can handle. Historically I've held 20 or 25, but over the course of the last year or so I've just found many stories that I wanted to participate in. Still, I've never covered more than 10 at a time. I may mention other companies in interviews but I only write about those 10.
TGR: How do you select the 10? What makes them rise to the top?
MF: Those are the best of the best. It comes down to the old criteria. Every company I put money into has the requisite share structure, people and projects. If they're severely undervalued, I hope that is when I'm going to choose them.
TGR: The general media commentary seems to be that the money going into gold is going into physical gold. For example, we're seeing ETF prices rise increasingly, but at the expense of juniors. Money that was expected to go into explorers is going into the ETFs instead. People are going more into the commodity than the equity.
MF: Absolutely. The gold explorers are down because money is going into gold ETFs versus the junior resource sector. The ETFs have given people another way to participate in the gold market. If you wanted to buy gold 10 years ago, you either bought bullion or played high-risk juniors. Now you can buy the gold ETF.
TGR: If the price of gold continues to go up, will it continue to dampen share prices in the junior sector?
MF: I think the fact that we're in a time of economic turmoil worldwide is what's dampening the share price of the juniors, because people are looking for safe haven investments and choosing gold as a safe haven. A junior resource company is 180 degrees diametrically opposed to the idea of a safe haven. So you'll see money come back to the juniors when the markets get better overall?when we have a stronger market.
TGR: Any idea when that will be?
MF: I personally expect a stronger market after Labor Day. I think we'll see a post-Labor Day rally like last year. If you remember, that's when the juniors really started taking off. From Labor Day until the PDAC, we had one of the strongest bull markets for juniors in memory. Will we see that sort of rise again? I hope so, but I wouldn't go to the bank on it.
That said, I do see similar trends. Despite the recent correction in gold, precious metals have been on a run that's almost unprecedented. We have very strong prices for industrial metals, too. Despite economic unrest, we're still seeing strong demand, and copper is hanging in at $4 per pound.
Much like in 2010, we've had these periodic short-lived panics and weeklong sell-offs in the market and, as we do every summer, low liquidity. Because of that we have little interest in buying?or selling?in the juniors.
What I see is many dollars on the sidelines. All I've been doing is using some of the dollars I have on the sidelines to pick away with stink bids and select private placements, but, in general, I've been extremely inactive in the open market this entire summer. The question becomes, "When does that patient money sitting on the sidelines get itchy?" Last year, that was right after Labor Day. We had record private placements last fall and winter.
TGR: So things could be looking up for the juniors this fall.
MF: Yes, I think and certainly hope so.
Michael S. "Mickey" Fulp is author of The Mercenary Geologist. He is a certified professional geologist with degrees in earth sciences (B.Sc. with honors from the University of Tulsa) and geology (M.Sc. from the University of New Mexico). Mickey has more than 30 years' experience as an exploration geologist searching for economic deposits of base and precious metals, industrial minerals, coal, uranium, oil and gas, and water in the Americas, Europe and Asia. Mickey has worked for junior explorers, major mining companies, private companies and investors as a consulting economic geologist for the past 24 years, specializing in geological mapping, property evaluation and business development.
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DISCLOSURE:
1) Karen Roche and JT Long of The Gold Report conducted this interview. They personally and/or their families own shares of the following companies mentioned in this interview: Newmont Mining Corp.
2) The following companies mentioned in the interview are sponsors of The Gold Report: Estrella Gold Corp.
3) Mickey Fulp: I personally own shares of the following companies mentioned in this interview: Estrella Gold Corp., and Estrella Gold are sponsors of my website.
Read more: http://feedproxy.google.com/~r/TheGoldReport-StreetwiseExclusiveFullArticles/~3/eEZYD7DoJxE/10822#ixzz1XMLl1IxH
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CSRFF
Estrella Gold Corp : Estrellagrants Stock Options To Key Staff & Directors
Toronto, Canada, August 31, 2011 --
Estrella Gold Corporation (TSX V: EST)("Estrella" or the "Company") is pleased to announce the granting of 910,000 incentive stock options on August 30, 2011. Of the 910,000 options that were granted, 390,000 were granted to key employees and consultants; 455,000 were awarded to the four independent directors and 65,000 were awarded to certain officers of the Company.
The stock options have an exercise price of $0.74 per share and vest quarterly over an 18 month period, expiring on August 30, 2014. All options granted and any common shares issued upon the exercise of the options will be subject to a statutory four month hold period expiring December 31, 2011. The granting of the options is subject to regulatory approval.
About Estrella Gold Corporation (TSX-V: EST) Estrella Gold is a"Prospect Generator" focused on gold in Latin America. The Company's dual strategies focus on 1) generating new prospects/discoveries and 2) increasing the Company's inventory of gold resource ounces. Estrella has a NI 43-101 compliant inferred gold resource containing a minimum of 144,600 ounces at its Colpayoc project in Peru, and additional historic non-compliant gold resources. 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.Estrella Gold has seven precious metal exploration projects in Perú and one in Chile.The Companyhas 24.1million shares issued and outstanding on the TSX Venture Exchange (TSX-V: EST). Further information is available at Estrella Gold's website: www.estrellagold.com.
For further information, contact:
Estrella Gold Corporation
Keith Laskowski President& CEO , MSc., QP,
Direct Tel: (800) 362-2040 or (720) 272-6224
Fax: (416) 927-1222
Email: klaskowski@estrellagold.com
To learn more visit: www.estrellagold.com
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.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.
____________________________________________________________
http://www.4-traders.com/ESTRELLA-GOLD-CORP-1409603/news/ESTRELLA-GOLD-CORP-Estrellagrants-Stock-Options-To-Key-Staff-Directors-13777252/
CSRFF
Estrella Announces Initial Drill Results from Colpayoc Gold Project, Peru
TORONTO, ONTARIO--(Marketwire - Aug. 9, 2011) - Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce initial drilling results from the Colpayoc gold project, 12 km southwest of the Yanacocha gold mine in northern Peru. The Colpayoc property contains 5,774 hectares (57.7 square kilometers) with gold and silver mineralization in three areas. The Company has completed 8 holes, totalling 1,093.7 meters of core drilling on the Daylight Gold Zone. Drilling is continuing on other target zones on the property, including the Cerro Rico silver-gold zone. Drilling was planned to expand size of the NI 43-101 compliant gold resource at the Daylight Zone. A new resource estimate will be prepared following completion of drilling. Drill holes were located at both in-fill and step-out drill sites from the current resource and are intended to provide data necessary to expand the gold resource. Drill results contain the following significant assay intervals:
Drill Hole Total Depth (m) Azimuth Inc. From (m) To (m) Interval (m) Gold g/t (Au)
COL - 04 140.0 270 -50 0.0 140.0 140 m 0.55 g/t
COL - 05 158.0 270 -50 3.5 73.2 69.7 m 0.72 g/t
Inc 9.5 18.5 9.0 m 0.90 g/t
Inc 26.0 54.0 28.0 m 1.03 g/t
And 95.9 157.0 61.1 m 0.58 g/t
Inc 95.9 106.8 10.9 1.02 g/t
These first two drill holes encountered wide zones of gold mineralization consistent with a large, near-surface oxide gold system. The depth of oxidation ranges approximately from 45 – 80 meters vertical depth. Drill holes intercepted projected zones of previously identified gold mineralization hosted in an altered porphyritic intrusive of probably Tertiary age, and occurring with variable quartz+/magnetite+/iron oxide stockwork and pervasive sericitic alteration. These two drill holes extend the continuous zone of gold mineralization an additional 100 meters to the south (see attached 2 maps). Drill hole COL 04 contained gold mineralization grading in excess of 0.3 g/t from top to bottom (140 meters) and was ended while still in mineralization. Drill hole COL 05 contained a total of 130.8 meters of mineralization grading more than 0.3 g/t gold, and also ended in mineralization greater than 0.2 g/t gold. These drill results indicate the Daylight Gold Zone remains open at depth, and in all directions (see attached map). The assay results from the remaining five holes in the Daylight Zone are expected by early September.
Keith Laskowski, President and CEO of Estrella commented: "We are very pleased with these results. The rocks and alteration are consistent with our predictions and the system appears to be getting stronger to the south. The drill results will increase the size of the area with sub-surface sampling (drilling) which will allow us to increase the size of our gold resource at the Daylight Zone, which is shaping up as a potential oxide, bulk-mineable target."
The Daylight Zone has been the focus of most work at Colpayoc and contains oxidized, outcropping gold mineralization hosted within a porphyry gold system. The zone contains a 400 meter diameter area of outcropping gold mineralization, surrounded by sedimentary rocks. Based on previous drill results, SRK Consultants calculated an initial NI 43-101 compliant inferred resource (2010) containing 7.6 million tonnes @ 0.6 g/t gold with 144,600 ounces of gold (0.3 g/t cutoff). Exploration data indicates that the Daylight Gold Zone has potential to contain a much larger gold resource. The Daylight Gold Zone is hosted within a Cretaceous – Tertiary age gold porphyry system that was intruded into Cretaceous sedimentary rocks. Mineralization may extend both beneath the sedimentary contact and within the sediments. There are many additional targets in adjacent areas to the Daylight Zone and the Company has identified high grade silver and gold mineralization two kilometers northwest at the Cerro Rico Zone. The geology and gold mineralization are similar to Goldfield Mining Corporation's Cerro Corona mine located 38 km to the north.
QA/QC: Assay results identify those mineralized intervals that contain a minimum continuous width of 6.0 meters with a minimum gold content of 0.3 g/t. Only one internal or adjacent interval of dilution is allowed. Higher grade intervals are calculated using a minimum continuous width of 6.0 meters with a minimum gold content of 0.8 g/t gold. Drill hole samples were collected in accordance with accepted industry standards and procedures. The samples were submitted to the ALS Chemex Labs (ISO 9001:2000 accredited) in Lima, Peru for analysis. Gold was analyzed by fire assay with an AAS finish and multi-element analyses were determined with aqua regia digestion and ICP MS/AAS techniques. The Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks and field duplicates.
About the Colpayoc NI 43-101 Compliant Gold Resource: The initial resource estimate was prepared by SRK Consulting (U.S.) Inc. as part of a NI 43-101 Technical Report completed in June 2010. The resource estimate contained the following:
Colpayoc Daylight Gold Zone: Inferred Resource (0.30 g/t low-grade cutoff):
Oxide: 4,663,275 tonnes @ 0.59 g/t containing 87,800 oz
Reduced: 2,913,019 tonnes @ 0.61 g/t containing 56,800 oz
Total: 7,576,293 tonnes @ 0.60 g/t containing 144,600 oz gold
The block model utilizes an inverse-distance squared (ID2) model, with 6m x 10m x 10m block sizes, using Mintec's MineSight software. All gold mineralization is hosted within sheeted and stockwork quartz+/magnetite+/pyrite-iron oxide veins, hosted within a highly altered granitic intrusion. Oxidation extends to approximately 45 meters depth, and preliminary bottle-role tests on surface trench samples indicate favorable recoveries for oxidized material. The outcropping area of the intrusion is almost entirely altered and mineralized, however overlying sedimentary rocks limit the exposure of this mineralized rock. Although the property has received only a small amount of drilling, due to the consistent and broad areas of gold mineralization, the Company has prepared this initial gold resource estimate to guide future exploration and expansion of the resource. This initial resource estimate benefits from extensive surface trench data, however the small number of drill holes generally limits the extent of interpolated mineralization at depth. The four drill holes penetrated consistent mineralization to the end of each hole (200 meters), however resources can only be included adjacent to the drill holes, and between the drill holes on interpreted northeast structural trends, until additional drilling is completed. There is exploration potential beneath mineralized trenches that is not fully tested by drilling.
About Estrella Gold Corporation (TSX VENTURE:EST) Estrella Gold is a "Prospect Generator" focused on gold in Latin America. The Company's dual strategies focus on 1) generating new prospects/discoveries and 2) increasing the Company's inventory of gold resource ounces. Estrella has a NI 43-101 compliant inferred gold resource of 144,600 ounces at its Colpayoc project in Peru, and additional historic non-compliant gold resources. 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. Estrella Gold has seven precious metal exploration projects in Perú and one in Chile. The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). 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.
To view the maps associated with this press release, please visit the following links:
http://media3.marketwire.com/docs/estrellamap1.pdf
http://media3.marketwire.com/docs/estrellamap2.pdf
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.
Contact Information
Estrella Gold Corporation
Keith Laskowski
President & CEO, MSc., QP
(800) 362-2040 or (720) 272-6224
(416) 927-1222 (FAX)
klaskowski@estrellagold.com
www.estrellagold.com
Investor Contact:
First Canadian Capital
Dan Boase, Partner
(416) 742-5600 x 232 or Toll-free: (866) 580-8991
dboase@firstcanadiancapital.com
www.firstcanadiancapital.com
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http://www.marketwire.com/press-release/estrella-announces-initial-drill-results-from-colpayoc-gold-project-peru-tsx-venture-est-1547478.htm
CSRFF
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FACT SHEET (JULY, 2014):
http://www.estrellagold.com/i/pdf/EST_Corporate_Profile_July2014.pdf
QWIK REPORT:
http://www.estrellagold.com/s/QwikReport.asp
CORPORATE PRESENTATION:
http://www.estrellagold.com/i/pdf/Estrella_Presentation.pdf
NEWS RELEASES:
From the company: http://www.estrellagold.com/s/NewsReleases.asp
iHub: http://ih.advfn.com/p.php?pid=squote&symbol=CSRFF
CONTACTS:
Estrella Gold Corporation
John R. Wilson, President and CEO
(800) 362-2040 or (720) 272-6224
(416) 927-1222 (FAX)
info@estrellagold.com
www.estrellagold.com
or
Investor Contact:
For First Canadian Capital
Dan Boase, Partner
(416) 742-5600 x 232
(416) 742-6410 (FAX)
dboase@firstcanadiancapital.com
Video clips:
http://www.sys-con.com/node/2269149
http://video.ca.msn.com/watch/video/video-interview-with-jason-weber-president-and-ceo-of-estrella-gold-corp/8kyv00jk
CHARTS: (currently StockCharts is not listing CSRFF. Stock also trades as EST.V)
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