Altair Ventures Incorporated (“Altair” or “the Company”; TSX-V: AVX) and Consolidated Spire Ventures Ltd. are pleased to announce that diamond drilling has commenced on the South Discovery Zone of the Prospect Valley property in southern BC.
The Phase I drill program will consist of approximately 1,500 metres in 12-14 holes designed to test the continuity of gold mineralization intersected in the South Discovery Zone in 2006 and 2007. Those programs included drill intercepts such as 50.6 metres of 1.36g/t gold in DDH 2006-21, 66.8 metres of 0.90g/t gold in DDH 2007-02 and 96.5 metres of 0.74g/t gold in DDH 2007-05.
The new diamond drilling program will include fill-in holes, at a spacing of approximately 50 metres, drilled along a strike length of 500 metres where soil geochemistry and Induced Polarization (IP) chargeability anomalies appear to correlate well with gold mineralization in bedrock. A strong geochemical/geophysical anomaly that is separate from, but parallel to, the main trend will also be tested. Recent soil sampling over this zone returned assays of up to 1.2g/t gold. A map showing proposed drill targets can be found on the Company website at www.altairventuresinc.com.
The South Discovery Zone is part of a geochemical and geophysical anomaly extending nearly two kilometres in total strike length and up to 400 metres wide. Should the new drilling indicate sufficient continuity of grade, the results will be used to estimate an initial NI 43-101 compliant resource for the South Discovery Zone.
Recent warm weather is providing an excellent source of water from melting snow and all drill sites are road accessible. The drilling has been contracted to SCS Diamond Drilling of Kamloops, BC.
The Prospect Valley Gold Project is only 30km south of the world class Highland Valley Copper Mine, and sits within a complex tectonic zone with the potential to host a significant low grade, bulk mineable epithermal gold system. Altair has an option to earn up to a 90% interest in the 107.9 sq km Prospect Valley Property, situated within the Spences Bridge Gold Belt, approximately 3 hours driving time from Vancouver and one hour west of Merritt, BC.
The Qualified Person for the Prospect Valley Project is Mr. Warner Gruenwald, P.Geo. and VP Exploration for Altair Ventures Inc.
For further information please contact Fayyaz Alimohamed at (604) 641-1305, fax at (604) 688-8309 or e-mail [email protected]
ON BEHALF OF THE BOARD
“Fayyaz Alimohamed”
Fayyaz Alimohamed, President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release.
