VANCOUVER, British Columbia, Sept. 11, 2007 (PRIME NEWSWIRE) -- Consolidated Spire Ventures Ltd. (TSX-V:CZS) ("Spire") is pleased to announce that additional analytical results have been received for Trenches No. 5-07, No. 6-07 and No. 7-07 located in the Discovery South Zone, Prospect Valley property, Merritt, British Columbia, Canada.
Quartz vein stockwork mineralization appears to be persistent along strike and width. A summary of analytical results for Trenches No. 5-07, No. 6-07 and No. 7-07 is as follows:
TRENCH No. 5-07
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SAMPLE WIDTH GOLD
SAMPLE # SAMPLE TYPE (m) (g/t)
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2211 Chips 2.00 0.36
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2212 Chips 3.00 0.24
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2213 Chips 0.65 0.63
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2214 Chips 2.00 0.94
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2215 Chips 1.70 1.01
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2216 Chips 1.90 0.45
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2217 Chips 3.00 1.90
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2218 Chips 2.20 0.89
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This includes:
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SAMPLE SAMPLE TYPE SAMPLE WIDTH GOLD
# (m) (g/t)
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2213 Chips 0.65 0.63
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2214 Chips 2.00 0.94
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2215 Chips 1.70 1.01
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2216 Chips 1.90 0.45
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2217 Chips 3.00 1.90
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2218 Chips 2.20 0.89
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TRENCH No. 6-07
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SAMPLE SAMPLE SAMPLE WIDTH GOLD
# TYPE (m) (g/t)
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2223 Chips 2.00 0.26
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2224 Chips 2.00 0.67
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2225 Chips 2.00 0.33
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2226 Chips 2.00 0.52
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Stockwork mineralization identified in Trench No. 7-07 (dug in the northern end of the Discovery South Zone) appears to be displaced by a transverse strike-slip fault to the NW. Additional trenching may be needed in that direction to find the main stockwork mineralized trend. Sampling in this trench returned the following:
TRENCH No. 7-07
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SAMPLE SAMPLE SAMPLE WIDTH GOLD
# TYPE (m) (g/t)
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2247 Chips 2.00 0.24
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2248 Chips 2.00 0.29
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2249 Chips 2.00 0.18
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2250 Chips 2.00 0.69
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AVERAGE = 8.00 0.35
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The above analytical results continue to confirm the presence of a significant sized gold stockwork zone in the Discovery South Zone. Approximately 300m along strike have been confirmed to have continuity with an average width range of approximately 50m to 90m.
Detailed geological mapping in the North Discovery Zone has been completed and two trenches are in the process of being dug. Geological mapping, core re-logging and assay data from last year's drill program suggest the Discovery North Zone has similar stockwork quartz vein mineralization as that seen in the Discovery South Zone, but of possible larger dimensions.
The Company expects that by drilling deep below this stockwork zone, which comprises quartz veins, quartz stockwork veins, stringers and breccia zones, gold grades may significantly increase over considerable widths. This is based on the current understanding that the near surface gold mineralization is high in the epithermal system.
The Company believes it has discovered a low-grade gold bulk mineable target in the Discovery South and Discovery North Zones of significance characterized by NNE trending quartz veins within stockwork gold mineralization. Detailed surface geological mapping shows that the mineralization is confined within a down thrown block, which trends NNE and, at places, is displaced by post-mineral transverse faults. Such may be the case between the South and the North Discovery Zones. Otherwise, stockwork mineralization continues along a strong soil anomaly for at least 2kms
Rock chip channel samples are prepped and analyzed at the Eco Tech Laboratory in Kamloops, B.C., Canada. Eco Tech Laboratory is an ISO 9001 certified and accredited facility. 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.
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 Mr. Victor Jaramillo, P.Geo. and Exploration Manager for Consolidated Spire Ventures Ltd.
Expenditures for the Prospect Valley Gold Property project were partially funded through a private placement by MineralFields Group (a division of Pathway Asset Management) a Toronto-based mining fund. Information about MineralFields Group is available at www.mineralfields.com.
Spire currently has several active projects in Canada and Mexico.
The 100% Spire owned Prospect Valley Gold Property is a large gold open pit and vein type target located near Merritt, BC, Canada. It is in close proximity to good infrastructure and is located south of the Highland Valley porphyry copper district and immediately west of the Craigmont copper skarn deposit. Geological fieldwork indicates that there has been little erosion on the property.
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. (AMM-TSX), 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 Mexico, 25kms east of the city of Oaxaca, the Campanario Gold/Silver Property, subject of an option agreement with Almaden Minerals Ltd. (AMM-TSX), is currently on hold.
FOR INFORMATION OR INVESTOR RELATIONS
CONTACT THE COMPANY AT (604) 662-7455
WEBSITE www.spireventures.com
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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