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|3/6/2008 12:00:00 PM ET ||News Release Index |
|PROSPECT VALLEY GOLD PROPERTY
2008 FIELD WORK TO COMMENCE
|Consolidated Spire Ventures Ltd. (“CZS” or “Spire”) is pleased to report that early next week fieldwork will commence for the planning and construction of an access road to the Discovery Gold Zone. This will allow access for an additional four to five kilometers along potentially similar mineralized ground to the NNE. This work will be used to gain quick access at significantly lower costs to this year’s exploration targets for geological work including geological mapping, trenching and diamond drilling.|
The objective of this spring/summer’s field program is to extend the mineralized gold belt identified in the Discovery Zone by four to five more kilometers into the Northeast Extension and the Northeast Trend target zones.
The 100% Spire owned Prospect Valley Gold Property is a low sulphidation gold epithermal system, with quartz vein stockwork type mineralization, located near Merritt, BC, Canada. Previous drilling at Prospect Valley intersected mainly the western edge of this mineralized system. Recent trenching and drill results have confirmed wide anomalous gold zones typically found near surface and along a northeast trend for over 2kms.
Considering an average grade range of 0.80g/t to 1.40g/t gold, that would give a geological potential ranging from approximately 310,000 to 3.7 million ounces of gold (for parameters used in calculating this range please refer to news release dated February 11, 2008). Cautionary statement: Investors are cautioned that the potential quantity and grade indicated above is conceptual in nature. It has been provided only for illustration purposes. At this time, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the discovery of these mineral resources.
The Company feels that the current exploration data, and the planned 2008 drilling on the Prospect Valley Gold Property are extremely important towards outlining this large mineralized trend with excellent potential to become an open pit - low cost target.
Spire currently has several active projects in Mexico.
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.
. . . 2
Consolidated Spire Ventures Ltd.
March 6, 2008
Other Mexico projects.
Spire has staked four properties in the states of Guanajuato and Michoacan, Mexico consisting of over 76,800 hectares of prime exploration ground on a recently recognized epithermal gold/silver district:
Los Agustinos (31,690 ha), Buenavista (9,200 ha), Las Joyas (32,067 ha), and Santo Nińo (3,930 ha)
The Buenavista Gold Property lies in the northwestern area of the El Oro-Tlalpujahua Gold/Silver Belt where high sulphidation gold occurrences have just recently been identified. Most gold produced in the past from this gold/silver belt has come from low sulphidation deposits found mainly in the southeast area near the town of El Oro (which means gold in Spanish). The Buenavista Property is subject to option terms whereby Terra Firma can acquire up to a 70% interest.
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 email@example.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
ON BEHALF OF THE BOARD
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.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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