Astra hits 80.54 g/t Au over 2 m at La Manchuria, Argentina
Highlights:
Hole LMD-148: 2 metres grading 80.54 g/t gold and 44.5 g/t silver
Hole LMD-143: 2 metres grading 26.23 g/t gold and 6.7 g/t silver
Hole LMD-144: 0.58 metres grading 20.94 g/t gold and 9.9 g/t silver
Hole LMD-142: 1 metre grading 15.85 g/t gold and 219.8 g/t silver
Confirmation of wide disseminated mineralization in new areas between Main and Eastern Zones and at the northwest extension of the Main Zone
Vancouver, British Columbia--(Newsfile Corp. - August 18, 2026) - Astra Exploration Inc. (TSXV: ASTR) (OTCQB: ATEPF) (FSE: S3I) ("Astra" or the "Company") is pleased to announce the first batch of assays consisting of eight DDH holes from the Phase III drill program at the La Manchuria Gold and Silver Project in Santa Cruz, Argentina. Assays remain pending for eight holes.
Astra's CEO, Brian Miller commented:
"High-grade mineralization is once again expanded into new areas with these first eight holes of the Phase III drill program. Simultaneously, wide intervals of disseminated mineralization were discovered in multiple shallow holes, which bodes well for a potential open pit mining scenario."
"The Phase III program also included geophysical surveys that have defined regional drill targets, which will be a part of the Phase IV program scheduled to begin in early October. These drill results warrant more extensive drilling at La Manchuria, and Astra is well-capitalized to fund an aggressive campaign."
Astra's Exploration Director, Diego Guido commented:
"Phase III drilling program confirms that La Manchuria contains two complementary exploration opportunities: broad, shallow disseminated mineralization developed within favorable volcanic units, and high-grade shoots localized along continuous structural zones. The southwestern area of Manchuria Hill, particularly the Main and Basalto Zones, continues to demonstrate the potential for structurally controlled high-grade mineralization, while the northeastern area offers significant opportunities to expand bulk-tonnage mineralization."
Program Summary
A total of 16 drill holes were completed between April and June 2026 totaling 5,176 metres (see June 30, 2026 news release, "Astra Provides Exploration Update and Receives Independent Analyst Coverage From ATB Cormark Capital Markets"). The drill program focused on testing the depth (200-300 metres vertical) extension of the Main and Eastern Zones and expanding the near-surface footprint of the system with shallow (<200 metres vertical) drill holes.
Drill Results and Discussion
The group of eight drill holes reported in this news release were focused on deep targets at the Main Zone area (holes LMD-142, 143 and 144), deep targets at the Eastern Zone (holes LMD-145 and 147), one shallow hole at the Basalto Zone (LMD-148), one shallow hole at the northwest extension of the Main Zone (LMD-141) and the area between the Main and Eastern Zone (LMD-146) all in Figure 1, below. All the reported holes intersected at least one noteworthy gold and/or silver interval (Table 1).
Figure 1: Phase III holes drilled to date with assays for the first eight holes highlighted in green color. Best drill results are defined as disseminated (light blue color) and high-grade (red and purple colors). All values are in g/t.
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Results from these eight drill holes have significantly refined Astra's geological model at La Manchuria and demonstrate a strong lithological control on gold and silver mineralization. Higher-grades are consistently associated with rhyolitic tuffs and pyroclastic units, whereas similar veins hosted within andesitic rocks generally returned more erratic precious metal values. The deeper holes in this program confirm predominantly andesitic rocks at depth with intercalations of the favorable rhyolitic pyroclastic rocks currently limited to 10-50 meters in thickness.
The program also defined a clear spatial distribution of mineralization. Higher-grade gold intercepts are concentrated in the southwestern portion of the Manchuria Hill, including the Main and Basalto Zones, while wide intervals of disseminated gold-silver mineralization occur toward the northeast. Two holes, LMD-143 and LMD-145 intersected broad zones of more than 50 continuous metres grading above 0.3 g/t AuEq. These results highlight the coexistence of high-grade structurally controlled shoots together with extensive disseminated mineralization within favourable volcanic host rocks.
Basalto Zone
The first deep hole drilled at the Basalto Zone successfully tested the down-dip projection of the high-grade mineralization previously intersected in hole LMD-128 (6.3 metres @ 3.32 g/t Au and 837 g/t Ag; including 1 metre @ 11.45 g/t Au and 3,309 g/t Ag - see Astra's March 2 nd , 2026 news release). Hole LMD-148 returned an intercept of 2 metres grading 80.54 g/t Au and 44.5 g/t Ag from quartz-sulphide veinlets and fault breccias at 120 meters from surface (Figure 2), confirming that high-grade gold mineralization continues at depth within this emerging target.
Figure 2: Detail of the veinlets and fault breccias reporting 2 m @ 80.54 g/t Au and 44.5 g/t Ag at hole LMD-148.
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Main Zone
Four holes tested the northwestern block and the depth extensions of the West Feeder at the Main Zone. Drilling confirmed that the best grades remain closely associated with the favorable pyroclastic rocks, while deeper intersections within the andesites were generally lower grade despite successfully intersecting the projected vein structures at depth (Figure 3).
Figure 3: Long section of the West Feeder in the Main Zone (dark blue dashed line in Figure 1) with location of the four deep holes drilled in Phase III. Resistivity expressed in ohm-m. Lithologies are transparent shades: grey is andesites, white is post-mineral breccia and brown is modern cover.
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Hole LMD-142 returned several mineralized intervals within the pyroclastic rocks from about 30 to 60 metres from surface, including 7 metres grading 1.56 g/t AuEq and a high-grade intercept of 1 metre grading 15.85 g/t Au and 219.8 g/t Ag. The deeper projection of the West Feeder structure was intersected within andesitic rocks and contained low precious metal values.
Figure 4: Cross section of LMD-143 showing the depth extension of the veins at the East, Central and West Feeder. Gold and silver results are in grams per tonne (g/t). Photo is the sample with 0.9m grading 2.76 g/t Au & 541 g/t Ag.
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Hole LMD-143 (Figure 4) intersected wide disseminated mineralization near surface within the pyroclastic rocks, including 56 metres grading 0.50 g/t AuEq, along with a high-grade vein (Vein 1 of the East Feeder) intersection of 0.9 metres grading 2.76 g/t Au and 540.6 g/t Ag. A separate fault breccia associated with the Central Feeder returned an interval of 2 metres grading 26.23 g/t Au. As in LMD-142, the deeper West Feeder intersected within andesitic rocks carried low-grade mineralization.
Hole LMD-144 confirmed that high-grade mineralization extends to depth where favorable lithologies are preserved, returning 0.58 metres grading 20.94 g/t Au and 9.9 g/t Ag from a banded quartz vein containing ginguro textures (Figure 5) located near the contact between pyroclastic rocks and andesite.
Figure 5: Detail of the banded quartz vein with ginguro bands reporting 0.58 m @ 20.94 g/t Au and 9.9 g/t Ag at hole LMD-144.
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Area Between Main and Eastern Zone
Hole LMD-146 tested a previously underexplored area concealed beneath shallow cover between the Main and Eastern Zones. The hole intersected broad disseminated mineralization hosted by pyroclastic rocks, including 21 metres grading 0.87 g/t AuEq, demonstrating that this corridor has potential to expand the footprint of disseminated mineralization between the principal vein systems.
Eastern Zone
Two deep holes tested the down-plunge extension of the Eastern Zone, where both holes successfully intersected the projected vein structures at depth. Hole LMD-145 returned broad near-surface mineralization within the pyroclastic rocks, including 54 metres grading 0.86 g/t AuEq, while the deeper vein intersections within andesitic rocks were essentially barren. Similar results were obtained in hole LMD-147, reinforcing the interpreted lithological control on mineralization.
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Table 1: Assays from the first eight holes of Phase III drilling at La Manchuria using cutoff grade of 0.3 g/t AuEq. Ag:Au ratio of 60 using $3,600 Au and $60 Ag. Recoveries of 94% for Au and 85% for Ag is an average based on three regional mine operations 1 and are reflected in AuEq and AgEq values above. Table shows results greater than 0.3 g/t AuEq. Estimated true widths are approximately 85% of widths reported herein.
Sampling Procedures
Drill samples consisted of HQ core which were split in half, sampled, bagged, and tagged by Astra's geological team and then delivered to the Alex Stewart International Argentina laboratory in Mendoza. Drill samples were prepared with P5 code and then analyzed with fire assay for gold (Au4-50) and multi-elements by ICP (ICP-AR 39). Silver (>100 g/t) and gold (>50 g/t) high-grade values were analyzed by gravity method (Ag4A-50 & Au4A-50). A total of 152 Blanks and 152 standards (2 different Au and Ag grade ranges) were used as QAQC for the group of 2,893 samples.
Vesting of La Manchuria Ownership
Astra has acquired an 80% undivided interest in the La Manchuria Mining Properties from Patagonia Gold (Patagonia) by delivering to Patagonia on August 11, 2026, written notice exercising the First Earn-In after completing expenditures at La Manchuria in excess of US$ 3,000,000. The parties are working together to transfer the Mining Properties and additional mining claims included in the area of interest to a new mining company (NEWCO). Astra will be the registered owner of 80% of the shares in the capital of NEWCO and Patagonia will be the registered owner of 20% of the shares in the capital. Astra also has the option to increase its interest by an additional 10%, for 90% total ownership, by making a cash payment of US$5,000,000 to Patagonia by August 11, 2028, subject to Astra's right to extend this period. Patagonia's interest will be carried until the publication of a 43-101 compliant resource totaling at least 1 million ounces of gold equivalent in the indicated plus inferred categories. Upon publication of the resource, each party will contribute their pro-rata amounts of expenditures from that point forward.
About the Company
Astra Exploration Inc. is a precious metals exploration company based out of Vancouver, BC that is actively building a portfolio of high-quality projects in some of the most important mining jurisdictions in Latin America.
The La Manchuria gold-silver project in Santa Cruz, Argentina , of which Astra owns 80% and has an option to acquire up to 90% from Patagonia Gold Corp, is a high-grade gold and silver low sulphidation epithermal (LSE) deposit located in the prolific Deseado Massif which hosts multiple world-class LSE precious metals deposits including Cerro Vanguardia and Cerro Negro, Santa Cruz, Argentina.
The 100% owned Pampa Paciencia gold and silver project in northern Chile is located in the Paleocene mineral province in proximity to such major operating mines as Spence and Sierra Gorda. The project shares several important geological similarities to other Paleocene LSE gold-silver deposits including Faride and El Peñón.
The 100% owned Cerro Bayo project in northern Chile is located in the Maricunga belt approximately 20 km from the Refugio Mine. The project hosts a high sulphidation epithermal (HSE) +/- porphyry gold system with similarities to the Salares Norte deposit to the north in the same belt. The Maricunga belt is one of the most endowed regions in the world for gold and copper deposits.
Qualified Person
The technical data and information as disclosed in this news release has been reviewed and approved by Darcy Marud, who is an Independent Director of Astra. Mr. Marud is a Practicing Member of the Association of Professional Geoscientists of Ontario and is a qualified person as defined under the terms of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
For further information please contact:
Brian Miller Chief Executive Officer Tel. 604.428.0939 Email: brian.miller@astra-exploration.com
Katrina Damouni Corporate Development Tel. 604.428.0939 Email: katrina.damouni@astra-exploration.com
References:
1 Sources:
Steinmann, Michael, March 2006 Manantial-Espejo Project Canadian Standard NI 43-101, Santa Cruz Province, Argentina Prepared for Minera Triton Argentina, S.A. https://panamericansilver.com/wp-content/uploads/2022/04/Manantial-Espejo-Technical-Report.pdf
Goldcorp - Third Quarter Report, September 30, 2017 https://s24.q4cdn.com/382246808/files/doc_financials/mda/2017/MD-A-FS-2017Q3-Website.pdf
AngloGoldAshanti - Technical Report Summary, Cerro Vanguardia, A Life of Mine Summary Report, December 31, 2021 https://www.sec.gov/Archives/edgar/data/1067428/000162828022007855/a2021_-xcerroxvanguardia.htm
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This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward- looking statements or information. These forward-looking statements or information may relate to the Company's business activities; exploration on the Company's properties including drilling at the La Manchuria project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Such factors include, without limitation: development of the industry in which the Company operates; risks associated with the conduct of the Company's business activities; risks relating to reliance on the Company's management team and outside contractors; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; laws and regulations governing the industry in which the Company operates; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties; employee relations, labour unrest or unavailability; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and other risk factors disclosed in the Company's public disclosure documents available on the Company's profile at www.sedarplus.ca . Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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August 18, 2026 - 3:00 AM PDT
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