Astur Gold Provides Update on Positive Declaration of Impact Assessment for Salave
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/17/13 -- Astur Gold Corp. (TSX VENTURE: AST)(FRANKFURT: CDC) ("Astur Gold" or the "Company") is pleased to provide an update on the complete positive Declaration of Impact Assessment ("DIA") received for the Company's 100% owned Salave gold project in Asturias, Spain and outline the near-term work program composed of water studies, geotechnical drilling, and further drilling on the deposit.
The complete DIA from the Commission for Environmental Affairs of the Principality of Asturias ("CAMA"), published today in the Asturias Official Bulletin (BOPA), follows the Principality's press release from "Consejeria de Fomento, Ordenacion del Territorio y Media Ambiente" issued on November 27th, 2012. The document outlines additional information and requirements necessary to receive full environmental approval for the remaining elements including the mill and tailings facilities.
The DIA contains 49 conditions categorized as follows: General Conditions, Hydrogeological System Protection, Soil Protection, Atmosphere Impact, Fauna & Flora Protection, Cultural & Archeological Protection, Landscape Protection, Environmental Upgrade Plan for Salave Lakes, Environmental Monitoring Plan, and Additional Conditions. A copy of the DIA can be found on the Company's website at www.asturgold.com.
"Following detailed review, the Company believes that the additional requested information is in the ordinary course of business for the development of Salave," stated Astur Gold President & CEO Cary Pinkowski. "Our team is currently working to satisfy all the conditions outlined in the DIA and we expect to submit the additional requested information by the end of Q1 2013."
The Company has commenced geotechnical drilling to test the strata along the route of the approved access gallery and expects the program to be complete by the end of February. The Company is working with SRK Consulting (UK) Ltd. and the University of Oviedo to complete the water studies requested by the Cantabrian Hydrographic Confederation relevant to the surrounding lakes and tailings areas. Management believes the required information for the mill and tailings facilities will not affect any timelines for the production of Salave, on schedule for 2015. Astur Gold has approvals for the 2.2km long decline, full underground mine development, ancillary facilities, and ventilation shafts.
Astur Gold has also applied for a permit to complete infill drilling in the Northwest portion of the deposit, metallurgical drilling, and expansion drilling in the deeper high grade zones which remain open at depth.
"Management believes that there is significant potential to increase high grade resources. Salave has undergone only limited deep drilling since previous geological work was undertaken in the context of an open pit operation," said Pinkowski. "The highest grade zones are open at depth and could extend significantly deeper. There are also extensions of the mineralized zones to West that have never been tested."
Previously announced drill results completed by Rio Narcea Gold Mines Ltd. (reference Rio Narcea May 11th, 2005press release) intersected high grade mineralization in their last drill hole (RN-70) which assayed 33.9 g/t gold over 39.8 meters in two zones between the down hole depths of 252.2 and 302.7 meters. Previous owners of the Salave deposit have drilled a total of 64,377m in 430 holes, including 235 diamond drill holes.
With the development path for Salave now clearly defined, Astur Gold is negotiating contracts for underground tunneling, land acquisitions, and additional accretive opportunities for shareholders.
ABOUT ASTUR GOLD
Astur Gold is developing its 100% owned Salave Gold Project in Asturias, northern Spain, which is one of the largest undeveloped gold deposits in Western Europe. The Company recently received approval for an underground mine from the Commission for Environmental Affairs of the Principality of Asturias in November 2012 and is completing additional requirements for the processing plant and tailings licenses with expected completion in H1 2013. The Company is working to build a partnership with the people of Asturias to generate sustainable economic benefits for the region while balancing the needs of environmental protection and social community development.
ON BEHALF OF THE BOARD
Cary Pinkowski, Chief Executive Officer, President 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
