VANCOUVER, British Columbia, June 26, 2007 (PRIME NEWSWIRE) -- Consolidated Spire Ventures Ltd. ("Spire") (TSX-V:CZS) is pleased to announce that high silver grades along with significant gold results have been received for samples taken along trenches in the new Sagitario-1 and Sagitario-2 Veins. These two veins are located in the southern section of the property known as the Sagitario area which is located approximately 7kms southeast of the Magnolia, Esperanza and Sarda Veins to the north. Diamond drilling has commenced at the Sagitario Vein area and, thus far, three drill holes have been completed. Analytical results will be provided as soon as they are received.
The Sagitario-1 Vein has, thus far, showed a continuity of approximately 300m along strike in 12 trenches and remains open to the north and south. The vein strikes 005 to 010 degrees, has a width that ranges from 0.94m to 4.10m, and dips 65 to 80 degrees SE. It is composed of light grey quartz, amethyst quartz banding, and open space filling quartz crystals.
The Sagitario-2 Vein has, thus far, showed a continuity of approximately 200m along strike in six trenches and remains open to the northeast and southwest. The vein strikes 030 to 045 degrees, has a width that ranges from 0.85m to 3.0m, and dips 65 to 70 degrees SE. It is composed of dark grey quartz, amethyst quartz banding, and breccia zones.
These two new vein discoveries are the first of an aggressive systematic trenching program, whose purpose is to map vein continuity along strike to determine its length, width and its precious metal content.
Currently this represents surface exploration on only two of the veins in this area, out of a total of 10 veins that have already been identified. The following analytical results are for the Sagitario-1 and Sagitario-2 Veins (all samples taken are chip rock channel samples):
--------------------------------------------------------------------- Sagitario Vein Trench Results --------------------------------------------------------------------- Trench Sample No Vein Width m. Gold g/t Silver g/t --------------------------------------------------------------------- TS1-1A 754439 SAGITARIO 1 0.80 1.08 199 --------------------------------------------------------------------- TS2-1 754450 SAGITARIO 2 1.10 0.89 192 --------------------------------------------------------------------- TS2-1 754451 SAGITARIO 2 1.10 2.24 551 --------------------------------------------------------------------- TS2-2 754470 SAGITARIO 2 1.30 4.71 441 --------------------------------------------------------------------- TS2-3 754473 SAGITARIO 2 1.80 4.13 171 --------------------------------------------------------------------- TS2-5 754488 SAGITARIO 2 0.20 1.625 25.2 --------------------------------------------------------------------- --------------------------------------------------------------------- Samples along small adit in Sagitario 2 Vein --------------------------------------------------------------------- Trench Sample No Vein Width m. Gold g/t Silver g/t --------------------------------------------------------------------- S-SW-01 754453 SAGITARIO 2 0.35 0.85 142 --------------------------------------------------------------------- S-SW-01 754454 SAGITARIO 2 0.85 1.19 553 --------------------------------------------------------------------- S-SW-01 754455 SAGITARIO 2 1.25 0.52 158 --------------------------------------------------------------------- S-SW-01 754456 SAGITARIO 2 1.10 0.73 43.5 --------------------------------------------------------------------- S-SW-04 754460 SAGITARIO 2 1.7 2.79 262 --------------------------------------------------------------------- S-SW-05 754461 SAGITARIO 2 1.9 0.388 117 --------------------------------------------------------------------- S-NE-02 754463 SAGITARIO 2 1.85 0.778 216 --------------------------------------------------------------------- S-NE-07 754469 SAGITARIO 2 1.1 0.49 178 ---------------------------------------------------------------------
Rock chip channel samples are prepped at the ALS Chemex Lab facility in Guadalajara and shipped to the ALS Chemex Lab in Vancouver, Canada for analysis. All work is being conducted following the procedures and standards outlined under NI 43-101. All sample batches sent to the lab include standards, blanks and duplicate samples.
The results of this exploration program will assist in the current drill program; the objective being to explore and discover high grade precious metal mineralization.
A quality assurance and quality control (QA/QC) program is in place. More sample results will be reported as soon as they are received. The Qualified Person for this news release is Victor Jaramillo, P.Geo., Exploration Manager, Consolidated Spire Ventures Ltd.
Spire currently has several active projects in Canada and Mexico
The 100% Spire owned Prospect Valley Gold Property is a low sulphidation, large gold open pit and vein type target, located near Merritt, BC, Canada. It is known that in these types of systems high grade gold and silver is precipitated over vertical intervals of generally 300m to 600m. Previous drilling at Prospect Valley reached vertical depths of approximately 100m from surface. Drill results have confirmed wide anomalous gold zones typically found at these depths. The Company feels that the next phases of exploration and the planned deep drilling on the Prospect Valley Gold Property are extremely important toward finding the expected much larger and richer bonanza gold/silver zones associated with these low sulphidation gold epithermal systems.
The recently acquired Yago Gold/Silver Property is located in the state of Nayarit, Mexico, 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
Other Mexico projects. Spire has recently staked four new properties of 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. In the State of Oaxaca, the Campanario Gold/Silver Property is a bulk tonnage gold target located approximately 25kms southwest of Oaxaca City, Mexico. Currently this property is the subject of an option agreement with Almaden Minerals Ltd. (TSX:AMM) ("Almaden").
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.
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