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ASTORIUS RESOURCES PURCHASES A FURTHER 15 BABINE LAKE CLAIMS IN BRITISH COLUMBIA
Feb. 7, 2011 (TheNewswire.ca) -- February 7, 2011, Vancouver, BC - Astorius Resources (TSXV:...
About this update from Kingman Minerals Ltd.
[{"type":"text","content":"\nASTORIUS RESOURCES PURCHASES A FURTHER 15 BABINE LAKE CLAIMS IN BRITISH COLUMBIA\n\n\n Feb. 7, 2011 (TheNewswire.ca) -- February 7, 2011, Vancouver, BC - Astorius Resources (TSXV:ASQ) Ltd. (ASQ -- TSX Venture)(\"Astorius\") is pleased to announce that it has entered into a purchase agreement (the \"Agreement\") with Mr. John Bot, (the \"Vendor\") of Quesnel, British Columbia, to purchase the Babine, Bell and Gran Mineral Claims (the \"Property\"). The Property is comprised of 3,323 hectares in 15 mineral tenures and is located approximately 5 km north of the community of Granisle, British Columbia, Canada. The Agreement is subject to acceptance for filing by the TSX Venture Exchange (the \"Acceptance\").The Property is being acquired for a purchase price of 300,000 shares of Astorius - to be issued to the Vendor in three tranches of 100,000 shares each issued 4, 8 and 12 months from the date of the Acceptance.The Property lies within the Astorius-Babine project area approximately 17 km south of the Morrison Copper/Gold Deposit (Pacific Booker Minerals Inc. BKM TSXV) and adjacent to the historic Bell and Granisle Mines owned by Xstrata Canada Corp. It is located approximately 70 kilometres northeast of the community of Smithers in the prolific Babine Porphyry Copper/Gold Belt in central British Columbia.Astorius has been accumulating claims in this region through staking and purchase. Including this new purchase, Astorius now owns, or holds under option, claims covering an area of 12,344 hectares.The Bell Porphyry Copper-Gold Mine operated from 1977 to 1992, reportedly producing 304,795,539 Kg of copper, 12,885,964 grams of gold and 38,319,730 grams of silver from 77,146,088 tonnes of ore. The Granisle Porphyry Copper-Gold Mine operated from 1966 to 1982, reportedly producing 214,299,455 kilograms of copper, 6,832,716 grams of gold and 69,752,525 grams of silver from 52,321,517 tonnes of ore. The nearby Morrison Copper/Gold Deposit (Pacific Booker Minerals Inc. BKM TSXV) is reported to have a proven and probable reserve of 224,250,000 tonnes at an average grade of 0.330% Cu, 0.163g/t Au and 0.004% Mo. The deposit is planned for production and has been accepted for review by the federal and provincial governments.Astorius plans to carry out geological, geophysical, geochemical, and prospecting programs over the property on targe...