Astur Gold Granted First Permit at Salave Gold Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/12/11 -- Astur Gold Corp. (TSX VENTURE: AST)(FRANKFURT: CDC) ('Astur Gold' or 'AST') is pleased to announce that the Regional Ministry of Economy and Employment of the Principality of Asturias and the Regional Ministry of Public Works, Territorial Planning, and the Environment of the Principality of Asturias have granted the Company permission to proceed with geotechnical drilling for the Salave gold deposit in Asturias, Spain.
'This is a significant first step in moving Salave through the permitting stage and towards production. We will commence drilling in the coming weeks,' stated CEO Cary Pinkowski.
Astur Gold plans to carry out a 7-hole geotechnical drilling program in order to establish the geotechnical characteristics of the rock for the planned drift project into the ore body.
ABOUT ASTUR GOLD
Astur Gold is developing its 100% owned Salave Gold Project in Asturias (northern Spain) comprising 3198 hectares. Salave is one of the largest undeveloped gold deposits in Western Europe with a NI 43-101 compliant mineral resource estimate by Scott Wilson RPA containing 1,683,000 oz of gold in the Measured & Indicated category (2,155,000 tonnes grading 3.88 g/t Au Measured and 15,790,000 tonnes grading 2.79 g/t Au Indicated) with an additional 338,000 oz of gold in the Inferred category (3,770,000 tonnes grading 2.8 g/t Au).
The Salave deposit is a shear zone type deposit hosted in granodiorite. Drilling to date totals 64,377m in 430 holes (235 diamond drill holes) and previous metallurgical tests indicate gold recoveries in the order of 90% are possible. Access to power, water, and roads is available on site. The region boasts excellent infrastructure and industrial skilled labour due to a long history of mining that will help support future mine development.
Astur Gold submitted an application for an underground mine permit to the government of Asturias in September 2011 and is currently conducting an Environmental Impact Study. The Company is building a partnership with the people of Asturias to generate significant economic benefit for the region and bring Salave into production as soon as possible.
ON BEHALF OF THE BOARD
Cary Pinkowski, Chief Executive Officer and Director
Mineral resources that are not mineral reserves do not have demonstrated economic viability. This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these 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:
Astur Gold Corp.
Vadim Dubchak
604-694-1600
604-694-1663 (FAX)
info@asturgold.com
www.asturgold.com