Vancouver, British Columbia – July 23, 2008 -Consolidated Spire Ventures Ltd. (TSX-V: CZS) (“the Company” or “Spire”) is pleased to report that road construction to the Discovery North and South Zones is underway, and geological fieldwork at the Bonanza Zone is in progress at the Prospect Valley Gold Property.
The construction of the approximately 3km long 4 x 4 road will provide quick access to the Discovery Zones, at significantly lower costs, for this year’s exploration priority targets for geological work, including geological mapping, trenching and diamond drilling. One important priority is the proposed completion of infill diamond drilling on the Discovery Zones. To date, most of the 2006 and 2007-diamond drill programs have returned consistent, strongly anomalous to locally economic widths and grades of gold +/- silver mineralization. Hole DDH 2006-21 contained 50.6m grading 1.36g/t gold and hole DDH 2007-02 contained 66.82m averaging 0.90g/t gold and 5.86g/t silver. These results are of considerable significance, and demonstrate an excellent geological potential for a low-grade bulk mineable target at the Discovery Zones.
Geological fieldwork is in progress at the Bonanza Zone, just south of the Discovery Zone trend. This zone is accessible along logging roads and is approximately a 45-minute drive from Merritt, BC, Canada.
An Assessment Report on the PV Property, prepared by Almaden Minerals and dated January 2003, describes the work that was previously completed in the Bonanza Zone. The report mentions extensive quartz vein float spread along a NNE trend approximately 1km long by 500m wide, and the host rock to be amygdaloidal basalts. Previous quartz float sampling in the Bonanza Zone have yielded gold values up to 43g/t. Spire’s geological field crews have now verified that this area is covered with quartz vein and stockwork type outcrop, with angular to sub angular float fragments similar to that observed in the Discovery Zones. These occurrences exhibit textures typical of low sulphidation epithermal mineralization. As such, fieldwork in this area is a priority and will consist of detailed geological mapping, trenching and, depending on field results, a diamond drill program
The Prospect Valley Gold Property hosts a low sulphidation epithermal gold system with quartz vein stockwork type mineralization, located near Merritt, BC, Canada. To date, over 13 target areas have been identified in the claim block. The majority of the targets are located in the centre of the claim block along a prominent north-northeast trending linear zone that includes the Bonanza Zone, the Discovery South Zone and the Discovery North Zone.
Quartz veins, hydrothermal alteration and gold mineralization at the Discovery South and North Zones are concentrated in the hanging wall of the Early Fault Zone and are dominated by sheeted to stockwork microcrystalline quartz veins and veinlets and disseminated + vein pyrite over an area approximately 2.5km long by 140m to 230m wide. This extensive area of quartz veins comprises the “target area” for favourable gold mineralization.
Rock samples will be prepped and analyzed by 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 will include standards, blanks and duplicate samples.
A quality assurance and quality control (QA/QC) program is in place. The Qualified Person for this news release is Mr. Victor Jaramillo, P.Geo. and Consulting Geologist for Consolidated Spire Ventures Ltd.
Investors are invited to visit the Consolidated Spire Ventures Ltd. Investor Hub at www.agoracom.com/ir/Consolidatedspire where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to CZS@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
If you are not currently on the CZS updates list, please send in your email address to info@spireventures.com or call 604-662-7455 with the best method to keep you informed. We will send out regular updates and news releases to everyone who asks to be on the list.
FOR INFORMATION OR INVESTOR RELATIONS
CONTACT THE COMPANY AT (604) 662-7455
or www.agoracom.com/ir/Consolidatedspire
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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