Arizona Star expands Chilean holdings

By acquiring three properties next to the Aldebaran concession in Chile, Arizona Star Resource (VSE) will have an interest in more than 32,000 acres in the country’s Maricunga district.

Arizona Star is earning a 51% interest in Aldebaran from a Chilean company and can acquire the three properties from the same group by paying US$2.6 million and spending US$800,000 on exploration by Jan. 1, 1997. Previous work outlined large areas of alteration, including four gold-mineralized stockwork zones.

Arizona Star plans to start trenching and drilling on the three properties in September. In the meantime, it is continuing exploration and pre-feasibility work on Aldebaran.

That property’s Cerro Casale deposit contains an estimated geological resource of 99 million tons grading 0.021 oz. gold per ton based on a cutoff of 0.015 oz.