VANCOUVER, British Columbia, May 29, 2007 (PRIME NEWSWIRE) -- Consolidated Spire Ventures Ltd. ("Spire") (TSX-V:CZS) is pleased to announce that the 2007 exploration program is underway on its 100% owned, 107.9 sq. km. Prospect Valley Gold Property ("PV"), located within the Spences Bridge Gold Belt, 30kms west of Merritt, BC, Canada.
The First Phase PV 2007 Exploration Program
* An airborne geophysical survey (MAG) that covers the whole property
area has now been completed.
* A detailed topographic base map (1:5000 scale) of the entire
property has been completed.
* Two senior geologists, the company Exploration Manager, one
geological technician and a logistics expert are on site.
* The Company has purchased a mini-excavator for an aggressive
trenching program to begin in the next few days. The trenching will
cut across the main mineralized zone in the Discovery Zone (areas
previously known as the RM and RMX) which saw some shallow
drilling in 2006. This year extensive mechanized trenching will
expose the full width of the quartz mineralized structures,
alteration zones and, most important, help determine their true
orientation, width and dip.
* A technical review of the trench data will assist in locating and
determining the drill hole orientation for the 2007 diamond drill
program scheduled to start in late June to early July.
* Other geological work will include mapping and sampling in the
following areas:
(1) The North West Zone: A resistivity low to the north of the
Discovery Zone (RM/RMX areas) appears as a large
oval-shaped structure, approximately 1km(2) in size.
(2) The South East Zone: A possible extension to the southeast
of the Discovery Zone. It is an area where a resistivity low
appears as a large cleaved structure running north-south.
This zone is open to the north and to the south, and
appears to be a displaced section of the gold/silver
Discovery Zone. Further fieldwork will explore the
geological potential of this new zone.
The gold/silver Discovery Zone geophysical and geochemical anomaly is approximately 3,500m by 400m wide. Geochemical analysis and petrographic work indicate the gold anomaly and the gold zones encountered in last year's drilling program are high in the epithermal system.
Prospect Valley Gold Project Highlights
* Spire holds 100% interest in the Prospect Valley Gold Property (Spences Bridge Gold Belt) in BC; * The Discovery Zone gold anomaly is 3,500m long x 400m wide; * A total of 23 drill holes were completed on the Discovery Zone during 2006; * Among the many drill holes that encountered good lengths of mineralization, drill hole RM-2006-21 returned 45.7m at 1.57g/t Au including 9.54g/t Au over 1.5m (Drill highlights are available at www.spireventures.com); * The North West Zone and the South East Zone may represent an expansion of the Discovery Zone or new separate discoveries; * Numerous gold showings remain to be explored on the PV property; * Experienced technical teams are on site.
A quality assurance and quality control (QA/QC) program is in place in Canada and Mexico. The Qualified Person for this news release is Victor Jaramillo, P.Geo. and Exploration Manager, Consolidated Spire Ventures Ltd.
Spire's North American Projects
At present, the Company is focusing on three projects: the 107.9 sq km, 100% owned Prospect Valley Gold Property, located within the Spences Bridge Gold Belt near Merritt, British Columbia, Canada; the 2,731-hectare Yago Gold/Silver Property located in the state of Nayarit, Mexico; and the Campanario Gold/Silver Property located southwest of Oaxaca City, Mexico.
The newly acquired Yago Gold/Silver Property is located on the Pacific coast, approximately 50kms north of the city of Tepic. Currently, this property is the subject of an option agreement with Almaden Minerals Ltd. (TSX:AMM) whereby Spire can earn a 60% interest. The property comprises 16 claims that total 2,731 hectares and lies within the coastal lowlands of the west coast of Mexico. Drilling and further exploration continues on the Yago Gold/Silver Property.
The Company is also actively pursuing other gold/silver, 100% Spire-owned exploration properties in several Mexican States, with a plan to offset the exploration costs by joint venturing the properties with other exploration companies. Once acquisitions are complete, the location and size of the properties will be disclosed.
ON BEHALF OF THE BOARD
"Brian Buchanan"
President and Director
This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
The TSX Venture exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.