Consolidated Spire Ventures Ltd. ("Spire") (TSX.V: CZS) is pleased to announce that the first 8 diamond drill holes have been completed in the 2010 ‘Phase 1’ diamond drill program, consisting of step-out and infill drilling, on the South Discovery Zone of the Prospect Valley Gold Property in Merritt, BC.
Drill holes have been oriented to strike the extension of known surface mineralization at depth. The South Discovery Zone is part of a geochemical and geophysical anomaly extending nearly 2km in total strike length and up to 400m wide. Currently, the core samples are being logged and will be submitted to Assayers Canada of Vancouver, BC for geochemical analysis. Results of these assays will be published when they become available. Should this drill program indicate sufficient continuity of grade, the results will be used to estimate an initial NI 43-101 compliant resource for the South Discovery Zone.
Brian Buchanan, President of Spire stated: "We are very pleased that the Phase 1 diamond drill program for 2010 has completed 8 holes at this time, and drilling is continuing. This project is very important to CZS’s growth, and the fact that we are drilling very early in the season is very exciting. The operator on this project is funding the exploration and diamond drilling at the Prospect Valley Gold Project, which provides CZS tremendous upside potential without having to spend on exploration. Management is optimistic about what the 2010 exploration and drilling programs will provide."
The Prospect Valley Gold Project contains several bulk tonnage gold targets and is only 30km south of the world-class Highland Valley Copper Mine. In this complex geological environment, the property has the potential to host a significant gold mineralizing system and is viewed as a low grade, bulk mineable epithermal gold target. Altair Ventures Inc. is the Project Operator.
Investors are invited to visit the Consolidated Spire Ventures website at www.spireventures.com where they can 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
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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