Cons. Spire Ventures Continues Field Program on the
Prospective Lithium Project at Fox Creek, Alberta
Vancouver, British Columbia, June 29, 2010 - Consolidated Spire Ventures Ltd. (TSX-V: CZS) (“the Company” or “Spire”) announces that the field & research programs continue on its 164,072 contiguous acre property, prospective for lithium, located about 35km west of Fox Creek, Alberta within the Devonian Leduc Formation.
The current program has outlined numerous producing gas wells on the property, and other infrastructure near the property that are already producing significant amounts of formation waters from the targeted horizons, which could indicate that a similar potential target may exist on the property to yield brines with lithium. There are a total of 37 oil and/or gas wells within the confines of the property. These wells are dispersed throughout the property and are existent in 7 of the 9 claim blocks. The Company will be contacting the owners of these wells.
Lithium and other mineralization is contained in formation waters that are currently being extracted along with oil and/or gas by various energy companies sharing the property with Spire. The Company holds the rights to the lithium and other mineralization, while the various operators own the oil & gas rights. Based upon the concentrations of lithium in formation waters in the Leduc aquifers, further exploration could be warranted for lithium-bearing brines underlying the property.
Brian Buchanan, President of Spire stated: "We are very pleased that field research has uncovered the 37 working gas & oil wells on the property. We anticipate further investigation work to be completed soon and management is very optimistic about what the future potential for lithium contained in the formation waters could provide."
Spire has a 100% interest in the Fox Creek Lithium Property in an area outlined by the Alberta Research Council and Alberta Geological Survey as having potential for a large resource of lithium within the formation waters. The Qualified Person for the technical portion of this news release is Mr. Victor Jaramillo, P.Geo.
Prospect ValleyGold Property – The Company is looking forward to further exploration on its 107.9 sq km property. The property is road-accessible, in close proximity to good infrastructure, and is located within the Spences Bridge Gold Beltapproximately 3 hours driving time from Vancouver. The Prospect Valley Gold Propertycontains 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 operator of the project and has an option to earn up to a 90% interest.
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 further information contact the Company at (604) 662-7455 or website: www.spireventures.com.
