Activities thus far in 2013 include the modification of exploration permits to encompass the expanded areas prospective for drilling, and metallurgical studies with completion expected in May, 2013. Activities planned for the remainder of the year will be conducted in accordance with Mines Management's current cash conservation activities.
La Estrella Project
La Estrella property contains approximately 2,500 hectares of land within the Central Peru Polymetallic Belt, and is 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. Mines Management conducts work on the project subject to its agreement to earn 75% of the project through US$5 million in exploration activities and a preliminary economic assessment (see News Release April 10, 2012).
La Estrella Geology and Mineralization
La Estrella concessions cover a large area of gold-silver mineralization hosted by a thick west-dipping dacite sill beneath a sequence of andesitic volcanic rocks. Gold mineralization occurs as pyrite-associated disseminations in silicified and phylically-altered dacite; also as quartz-sulfide stockworks in brecciated or structurally-disrupted andesitic rocks. Higher-grade silver intervals (greater than 100 gpt) occur with galena and a variety of sulfosalts in mineralized structures cutting the dacite sill and volcanic package, reflecting an event later than the more widespread gold-silver dacite-hosted mineralization. To date, historic and current sampling and drilling activities have identified a roughly tabular zone of mineralization generally conformable to the dacite sill over 1,500 meters in strike length, 300-500 meters in width, and 50-150 meters thick. As previously mentioned, geophysical indications of mineralization include this known area and extend across a strike length of 2000 m and up to 1100 meters width in the central portion of the deposit. The system remains open to the north, south, west, and at depth in the central, widest portion of the anomalous zone.
About Estrella Gold Corporation (TSX VENTURE: EST) Mineral exploration is inherently risky and Estrella increases the chances of success as a "Prospect Generator" focused on gold exploration in Latin America. Estrella identifies and acquires new mineral properties, conducts initial, low-cost exploration to define a potential new deposit and then forms joint ventures with other companies that will provide funding for more advanced exploration. Estrella has twenty-two (22) active exploration properties in Peru, with five (5) held in venture agreements. The Company has 31.6 million shares issued and outstanding, and is listed on the TSX Venture Exchange (TSX VENTURE: EST).
Mines Management, Inc.'s VP of Exploration Mr. Michael G. Rasmussen, CPG, 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.
Estrella Gold Corporation
John R. Wilson
President and CEO
Estrella Gold Corporation
(888) 889-4874 (FAX)
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