| |
Consolidated Spire Ventures Ltd. (“Spire”) is a Canadian-based junior exploration & mining company active in gold & silver exploration. The Company's objective is the acquisition and exploration of high quality gold and silver projects.
Spire Currently has several active projects in Canada and Mexico
1. The 10,796-hectare, 100%-owned Prospect Valley Gold Property located within the center of the Spences Bridge Gold Belt, 35kms west of Merritt, British Columbia, Canada ( view property map);
2. The 2,731-hectare Yago Gold/Silver Property in the state of Nayarit, Mexico, approximately 50kms north of the city of Tepic;
3. Spire has four new 100%-owned properties; the Las Joyas, Los Agustinos, Buenavista, and Santa Nino properties, in the states of Guanajuato and Michoacan, totalling over 78,000 hectares within the El Oro Gold Belt in Mexico;
PV Property Work Programs Proposed Spring / Summer 2008
- Spring 2008, building access road to South Discovery Zone target area on Prospect Valley Property.
- Preparations for a two/three phase diamond drill program.
- First phase, 8-hole diamond drilling – approx 2,600m – Discovery Zone Infill Drilling
- Second phase, mechanical trenching and, 23-hole diamond drilling – approx 6,900m – to target the NE Extension, NE Trend, and NW Dome.
- Third (alternate) phase, South Bonanza Zone- mechanical trenching and diamond drilling.
- Detailed geological mapping, trenching & sampling on most prospective targets.
- Outlining a possible resource definition drill program.
Prospect Valley Property
The 100%-Spire-owned Prospect Valley Gold Property is a a bulk mineable-low grade type gold quartz stockwork target, with quartz vein stockwork type mineralization, located near Merritt, BC, Canada. ( View the NI 43-101 Report)
Detailed geological mapping, surface trenching, soil gold anomalies, mag surveys and 33 diamond drill holes have confirmed an elongated NNE trending gold mineralized belt. It dips approximately 55 to 65 degrees to the west as determined from drill hole cross-sections and surface geological mapping.
The 2007 diamond drill program completed a total of 10 drill holes for a total of 1,775.35m. Drill Holes DDH-2007-01 and DDH-2007-02 were drilled approximately 85m NW from drill hole DDH-2006-21 which intersected a very similar quartz veinlet stockwork zone that returned 1.36g/t gold along 50.6m, which includes a 24.4m interval with 2.03g/t gold.
Last year DDH-2007-01 returned across 61.4m, 0.7g/t gold and 4.7g/t silver. DDH-2007-02 returned across 66.82m, 0.90 g/t gold and 9.7g/t silver. Drill Hole DDH-2007-03 was drilled approximately 40m north of drill holes -01 and -02 and intersected a similar quartz stockwork zone across 44.7m with 1.0g/t gold and 5.9g/t silver.
Drill Hole DDH-2007-04 drilled approximately 40m north of drill hole -03, intersected a similar quartz stockwork zone cut by a fault zone. It returned across 32.56m 0.36 g/t gold, which includes a 10.1m interval with 0.73g/t gold and 1.0g/t silver.
Drill Hole DDH-2007-05 intersected a quartz vein across 1.33m with 12.20g/t gold and 24.30g/t silver. Drill Hole DDH-2007-06 returned, along a length of 81.71m, an average of 0.33g/t gold, and was drilled approximately 30m west of DDH-2006-04 (27.2m @ 1.24g/t gold). Drill hole DDH-2007-07 returned, along 5.56m, an average of 0.84g/t gold, and was drilled 50m west of drill hole DDH-2006-12 (9.1m @ 0.55g/t gold).
Drill hole DDH-2007-08 returned, along a length of 18.57m, an average of 0.47g/t gold (includes 17.79m @ 0.57g/t gold) and tested mineralization in the northernmost area of the Discovery North Zone. Drill hole DDH-2007-09 returned, along a length of 24.49m, an average grade of 0.48g/t gold and tested mineralization 80m west of DDH-2006-07 (20.5m @ 0.62g/t gold). Drill hole DDH-2007-10 was drilled beside the previous hole at a -80 degree inclination and returned along a length of 3.29m, an average of 0.25 g/t gold. Most of the drill holes drilled last year in the Discovery North Zone were aimed at testing the extent of the mineralization to the west of the known mineralized area. True widths have yet to be determined for these intersects.
A recently revised geological potential in the Discovery Zone considers surface widths that range from approximately 50m to 150m wide, a surface continuity (length) along strike ranging from approximately 1,400m to 2,500m and a depth, as indicated by diamond drilling, ranging from 50 to 90 vertical meters. Using an average specific gravity (s.g.) of 2.4, a tonnage range from approximately 1.2 to 81 million tonnes can be estimated. Considering an average grade range of 0.80g/t to 1.40g/t gold that would give a geological potential ranging from approximately 220,000 to 3.7 million ounces of gold.
The above geological potential is for the Discovery South and North areas only. There are other areas, such as the NW Dome Zone and the NE Zone that appear to hold an additional geological potential as seen from coincidental soil geochemistry anomalies, magnetic anomaly data, and from recent geological mapping and trenching in those zones. Mineralization remains open to the south and north of the Discovery Zone along a NNE trend.
Cautionary statement: Investors are cautioned that the potential quantity and grade indicated above is conceptual in nature. It has been provided only for illustration purposes. At this time, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the discovery of these mineral resources.
The Summer 2006 drill program completed holes DDH-06-01 to DDH-06-23 for a total of 3,734m drilled on the Discovery Gold Zone. DDH-06-21 returned 45.7m of 1.57 g/t gold ( see News Release dated September 6th 2006). The drill program confirmed an epithermal quartz-vein/alteration system along this zone, which extends at least 1.5kms, with the mineralization open to extension to the northeast and southwest. Numerous significant gold and silver drill hole intercepts were obtained throughout the 2006 diamond drill program (see details of property).
In April 2006 Spire announced that a Induced Polarization (IP) geophysical survey had been completed on the Discovery area of the Prospect Valley Gold Property. The program consisted of 27 lines at an average length of 1.66km per line at 100m spacing totalling 44.95km IP and 44.50km Mag. Results of the IP geophysics define a large resistivity anomaly which is believed to reflect a quartz-rich, gold-bearing epithermal vein and breccia system. The resistivity, IP and Mag anomalies correlate very well with the gold-soil geochemical anomalies within the Discovery Zone, outlining an area of approximately 3,000m by 400m.
During the 2005 field season, Spire focused solely on the Anomaly Cluster 1 area located in the heart of the 107 sq. km. property. The Company followed up the previous years’ successes related to the multi-element soil anomalies and the Discovery Zone trench showings. The exploration program was carried out in two parts. Both stages included establishing, prospecting and soil sampling an extensive control grid over the Discovery Zones. Multi-element soil anomaly was greatly expanded to a size of about 3,500m by 400m covering an estimated grid of 8.4 sq. km.
Much of the gold and related pathfinder element mineralization is typically found in weathered, variably porphyritic, chlorite altered basalts with minor limonitic-quartz veins, stockworks and breccias - all are typical characteristics of a low sulphidation epithermal gold exploration target. Trench and soil results to date have demonstrated the large size and bulk tonnage potential of the Discovery Zone gold system. The IP and drill program is designed to test the gold system at depth.
Spire has a 100% interest in the 10,796-hectare Prospect Valley Gold Property. Reconnaissance exploration in recent years has identified significant new low-sulphidation epithermal gold/silver mineralization at several locations on the property. The property is road accessible from Merritt, BC, which is a regional transportation and supply centre. The property is in close proximity to good infrastructure and is located near the large Highland Valley porphyry copper district and the Craigmont iron-copper skarn deposit
Yago Property, Nayarit Mexico
Drilling has been completed on the Yago Property, optioned in February 2007 from Almaden Minerals Ltd. (TSX-V: AMM; AMEX: AAU). The Targets for the drilling are gold/silver-bearing veins and the high grade ore shoots that are normally associated with the epithermal systems. Results are expected late July. The Yago property is a 16-claim, 2.731-hectare gold/silver property located in the state of Nayarit, Mexico, approximately
30kms from the Pacific coast and 50kms north of the city of Tepic. Under the terms of the agreement, Spire has the right to acquire a 60% interest in the property.
Mexico Projects in the states Guanajuato and Michocan
Spire has staked four new properties that cover over 76,800 hectares of prime exploration ground on a recently recognized epithermal gold/silver district. The staked ground comprises four properties which are located in the north and northwest of the El Oro-Tlalpujahua Gold/Silver Belt in the states of Guanajuato and Michoacan, Mexico. Spire intends to initially explore these properties and farm out the properties to joint venture partners to offset further exploration costs. These four properties are:
1. Los Agustinos Property 31,690 ha
2. Buenavista Property 9,200 ha
3. Las Joyas Property 32,067 ha
4. Santo Niño Property 3,930 ha
Mineralization within the above properties comprises quartz veins, stockwork veining and areas with excellent potential for disseminated type precious metal mineralization. This last possibility is more evident in the Las Joyas and Buenavista properties where extensive areas of silicification, advanced argillic alteration and particularly large areas of vuggy quartz and alunite point to precious metal epithermal high sulphidation systems. Vuggy quartz is a typical characteristic of high sulphidation epithermal precious metal deposits. Zones of residual, vuggy quartz with halos of advanced argillic quartz-alunite alteration have been observed in these properties. Also, areas of stockwork quartz veining and hydrothermal breccia have been observed. A regional stream sediment program has recently been completed on the properties and geological reconnaissance work is underway.
Spire recently announced the signing of a letter of intent with Terra Firma Resources Inc. whereby Terra Firma can acquire up to a 70% interest in Spire’s Buenavista property project, Mexico by issuing an aggregate of 500,000 shares of Terra Firma and undertaking a work program on the property aggregating $1,450,000.. The Buenavista property is one of four new properties, , which are located in the north and northwest of the El Oro-Tlalpujahua Gold/Silver Belt in the states of Guanajuato and Michoacán, Mexico. It is the intentions of Spire to explore and farm out the other three properties to joint venture partners.
A geological field program is underway at the Buenavista Gold Property in Mexico. Initial fieldwork will include detailed geological mapping, rock sampling and trenching.
|
|
