Altair Ventures Incorporated (“Altair” or “the Company”; TSX-V: AVX) is pleased to report that exploration is continuing at the Prospect Valley epithermal gold property in Southern BC, with the objective of generating new targets for drill testing. Prospector Ed Balon, who discovered a quartz boulder grading 43.3g/t gold in the Bonanza Valley area in the southwest part of the property, has been hired to evaluate several geophysical and geochemical anomalies, as well as zones of silicification within and outside of the Discovery Zone. Depending upon the results of this phase of fieldwork, follow-up work will consist of trenching, detailed sampling, geophysics and drilling. Results will be released as they become available.
In early 2010, eleven diamond drill holes successfully demonstrated the continuity of gold mineralization intersected in the South Discovery Zone (SDZ) in 2006 and 2007. The SDZ occurs in the hanging wall of (above) a moderately dipping fault, with the gold grade typically increasing downward toward the fault. On some sections, the gold grade also appears to be increasing in a down-dip direction. Higher gold grades appear to be associated with increased silicification and disseminated pyrite.
The SDZ is part of a geochemical and geophysical anomaly extending nearly two kilometres in total strike length and up to 400 metres wide. While it has the potential to host a significant low grade, bulk tonnage epithermal gold system, many other untested targets exist on the property. The presence of high-grade boulders suggests the potential to host bonanza grade gold-quartz veins. The current field program is designed to follow up on these other areas in order to advance them to the drill stage as quickly as possible.
The Prospect Valley Gold Project is only 30 kilometres south of the world class Highland Valley Copper Mine, and sits within a complex tectonic zone that are interpreted to have provided channel ways for the introduction of widespread gold mineralization. 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 four 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 Justin Schroenn at (604) 780-1371, 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.
