Saving Money

There is a popular inspirational quote that says: "Shoot for the moon. Even if you miss, you'll be among the stars." In that case, Astral Mining Corp. 's (TSX.V: AST) management may well have exceeded its target. Both management and investors are likely on the moon, because the firm, along with joint venture partner Kootenay Gold (TSX.V: KTN), announced stellar results for the latest round of drilling in the jump Josephine (JJ) Gold Project in southeastern BC. According November 29 company press release, the test results of 14 diamond drill holes of Phase II drilling program in the main area of JJ Gold in The best results include 7.74 g / t Au over 5 meters, including 15.99 g / t Au over 2 m and 12,44 g / t Au over 8 m including 26.9 g / t Au over 3 m. These results are important because they confirm the major gold mineralization within what is known to be a large quartz stockwork system.

The property comprises 24 contiguous claims acquired by Kootenay and seven Crown granted claims sent to Kootenay. The 11,785 acre project houses the Granville historic mountain mining camp – a mining district has produced over 9 million ounces of Au high quality as well as newly discovered several vein host, gold cut-related projections.

Infrastructure support is excellent, as the property is located 40 km north of the Teck Cominco smelter in Trail and 30 km west of Castlegar. Property's proximity to Rossland and Trail (both historic mining towns) provides easy access to a local force of skilled labor. The added value of the favorable climatic conditions and the main access road, allows year-round drilling JJ.

Previous interest JJ was mainly in the field of production before Granville Mountain. Until 1940, gold, silver, copper, lead and zinc were extracted from various jobs in the area. After WWII, there was little activity in the area, with the exception of limited production of Albion. The area was explored sporadically since the 1960s until the 1990s. Kootenay acquired the property in 2003.

Since May 2006, Astral has expanded its scope of exploration beyond the main area of JJ, and has begun assessing the projections of gold discovered by Kootenay. Before drilling, place a property Astral All geophysical survey in the air, soil sampling in three areas, ownership of more extensive exploration and sampling more grip and excavation ditches for about 775 m in the main showing JJ.

The company recently completed Phase II drilling, having completed a total of 38 wells drilling 5100.84 m. Drilling results this year are currently under the management detailed interpretation lays the groundwork for Phase III drilling in 2008. The test results have not yet arrived in the remaining 18 holes.

43-101 of the company to report co-written by Dale Brittliffe and Dr. David Terry, Astral vice-president of exploration. They describe a geological environment in which "the gold mineralization at JJ is predominantly within the auriferous quartz veins, shears and stockwork hosted in mid-Jurassic intrusive or over Mount Roberts Formation of rocks …. Quartz veins can be very high gold grades (sample Kootenay BZT-09 catch up to 558g / t Au). JJ samples returned gold values leading up to 133.91g / t Au and show a general Pb-Ag-SB-AS (lead-silver-antimony and arsenic) and the partnership to a lesser degree of Hg-Cd-Cu. (mercury, cadmium, copper),

The report further recommends JJ as "a high quality of exploration gold property with the potential to host an economic gold deposit. Results of work first pass in 2006 were very encouraging and support the proposed program for the 2007 season estimated at CAD $ 780,000. Exploration work described below is more advanced evaluating projections as main JJ, develop the first step to explore projections not been tested such as Borrow Pit, JJ West and Pb-Zn and also includes work to identify additional areas of mineralization of gold between the known deposits in favorable lithologies. "

On the financial side, several key points characterize the state as a star Astral on the rise among young people. The company management has made great efforts to minimize risks to shareholders to join forces with Kootenay. The venture agreement joint provides an excellent vehicle for maximum profit with minimal financial and political risk. Both companies work only in areas of known mineralization in mining friendly parts of North America. Astral has assembled a diversified portfolio of properties in BC, Nevada and North Carolina and South. The funding has already been established for the Phase III drilling, as the company has recently completed two financings.

One of the best things about this book is its structure of tight with only 25,134,614 shares fully diluted shares. More results good exercise, along with this kind of liquidity, it could easily create the kind of momentum necessary to advance the prices at an accelerated pace.

With gold seems to be establishing a new base of $ 800 an ounce, many properties in areas easily access southeastern BC are getting a deserved second look. With 20 of the 38 tests in drill and JJ, the impetus for further exploration is clear – so it is a time Astral excellent for investors to hitch the wagons to a star.

This article is for information only and is not a recommendation to buy or sell shares of any company mentioned herein. It is based on sources believed to be reliable but no warranty as to accuracy expressed or implied. The opinions expressed in this article are the author except where statements are attributed to persons other than the author, in which case the opinions are the people who are attributed.

About the Author:

Resourcex Investor is an internationally distributed newsletter about emerging junior resource companies. Sign up for a free 1-month trial to our newsletter and get instant access to news and investing tips that have helped many of our readers make more money. http://www.resourcex.com

Article Source: ArticlesBase.com – Astral Achieves Astronomical Results at Jumping Josephine in Southeastern Bc