Estrella Gold Corporation (CSRFF)

[chmcnfunds]

Latest news as interpreted by the local paper:

Quote:
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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.

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http://www.andina.com.pe/Ingles/Noticia.aspx?Id=zieyRA98haY=

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