VANCOUVER, British Columbia, May 23, 2007 (PRIME NEWSWIRE) -- Consolidated Spire Ventures Ltd. ("Spire") is pleased to announce that its exploration team has discovered a new gold/silver quartz vein. This new vein (Sagitario-1) is located in the southern section of the property known as the Sagitario area which is located approximately 7 kms southeast of the Magnolia, Esperanza and Sarda Veins to the north.
The Sagitario-1 Vein has thus far showed a continuity of approximately 300m along strike in 9 trenches and remains open to the north and south. The vein strikes 005 to 010 degrees and 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. Analytical results have only been received for the first five trenches.
This new discovery is 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 one 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 Vein: (all samples taken are chip rock channel samples)
SAGITARIO-1 VEIN SURFACE TRENCHING HIGHLIGHTS
Sample No. Location Sample Gold Silver
Width(m) g/t g/t
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754402 T-NE-01 0.94 2.51 163.0
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754405 T-NE-02 0.90 0.45 66.1
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754407 T-NE-02 1.00 0.70 75.3
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754408 T-NE-02 1.00 0.43 23.0
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774410 T-NE-03 1.10 0.24 35.7
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774411 T-NE-03 1.10 0.26 52.2
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754412 T-NE-03 1.10 1.42 135.0
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754415 T-NE-04 1.20 1.70 131.0
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754416 T-NE-04 1.20 0.46 68.8
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754418 T-NE-05 1.00 0.45 41.3
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754419 T-NE-05 1.10 0.72 61.1
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754420 T-NE-05 2.00 0.27 39.7
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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.
Trench results at the Sagitario vein system will assist in preparing a comprehensive drill program in that area, the objective being to explore and discover high grade precious metal mineralization. Spire is currently drilling the Magnolia Vein, which is approximately 7 kilometres north of Sagitario. Drill results for Magnolia will be made available as soon as they are received.
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., and Exploration Manager, Consolidated Spire Ventures Ltd.
The newly 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.
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 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.
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