VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 30, 2013) - Astur Gold Corp. (TSX VENTURE:AST)(CDC.F) ("Astur Gold" or the "Company") is pleased to announce that its wholly owned Czech subsidiary Astur Bohemia s.r.o. ("Astur Bohemia") applied for the establishment of a 5 year Exploration Area License covering the Mokrsko, Mokrsko-East, and Prostredni Lhota - Celina gold deposits (collectively "Mokrsko") located in Stredocesky Kraj region. The administrative proceeding commenced as required by Czech law and a notice was posted in the Business Journal in accordance with the legislation of the Czech Republic. No other competing applications for the establishment of an exploration area for these deposits were registered during the mandatory 30 day period. As the sole applicant, Astur Bohemia has positioned itself for Mokrsko, which is one of the largest gold deposits in Central Europe.
The Mokrsko deposit has been identified by geologist Dr. Petr Moravek and others as the largest gold deposit in the Bohemian Massif, which is a richly mineralized area with a mining history dating back nearly 3000 years. Several deposits have been exploited since the 14th century, but Mokrsko went unnoticed until the 1980s. In the 1980s, a state-owned company called Geoindustria initiated major exploration under the leadership of Dr. Moravek. Detailed exploration of a soil anomaly including drilling and underground workings delineated a low-grade, large-tonnage deposit. Mokrsko is accessible by the Josef adit built during this exploration.
In the 1990s Rio Tinto conducted exploration on Mokrsko, but withdrew from the Czech Republic in 1996 when legislation imposed a moratorium on gold exploration and mining in the Czech Republic.
The moratorium on gold exploration and mining is expected to be lifted in the near future through the anticipated ratification of the new Raw Materials Policy by the new Czech government. Astur Gold's application is currently being held in abeyance, pending the legislative change. The Ministry of the Environment of the Czech Republic (MZP) has requested more information from Astur Bohemia. Astur Gold regards Mokrsko as a long term project and intends to keep expenditures low until the law is changed.
ABOUT ASTUR GOLD
Astur Gold is developing its 100% owned Salave Gold Project in Asturias, northern Spain. Salave is one of the largest undeveloped gold deposits in Western Europe. The Company received approval for an underground mine from the Commission for Environmental Affairs of the Principality of Asturias in November 2012. Astur Gold is conducting a Feasibility Study on Salave and intends to commence construction upon its completion and receipt of process plant, tailings, and water discharge approvals. The Company is building 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
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. 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.
- Commodity Markets
- Czech Republic