Altair Ventures Incorporated (“Altair” or “the Company”; TSX-V: AVX) and Consolidated Spire Ventures Ltd (“Spire”; TSX-V: CZS) are pleased to announce that the winter soil sampling program has been completed on the South Discovery Zone of the Prospect Valley property and the results are being used in conjunction with previous field data to plan the upcoming diamond drilling program.
The objective of this infill soil sampling program was to better define the gold geochemistry of the South Discovery Zone. Results were very encouraging with individual values up to 1.2 g/t Au within a gold-in-soil anomaly up to 400 metres wide and spanning a northeast-southwest strike length of approximately 700 metres. The South Discovery Zone is part of a gold-in-soil anomaly extending nearly two kilometres in total strike length.
No drilling has been carried out on the property since 2007, when an extensive gold system was identified in the North and South Discovery Zones. Diamond drilling during 2006 and 2007 in a small portion of the South Discovery Zone anomaly yielded some of the widest intervals of gold mineralization on the property, including 66.8 metres of 0.90g/t gold in DDH 2007-02 and 45.6 metres of 0.94g/t gold in DDH 2007-03.
The soil geochemistry has now been interpreted in conjunction with the results of an Induced Polarization (IP) survey, and the limited diamond drilling conducted in the same area, in order to prioritize new drill targets. Previous drilling demonstrated that the soil geochemistry reflected near surface gold mineralization in bedrock while the IP survey reflected disseminated pyrite associated with gold mineralization. As such, the new diamond drilling program will focus on the South Discovery Zone where high gold-in-soil geochemistry coincides with strong chargeability anomalies.
Altair and Spire have commissioned a Phase I diamond drilling program to begin in early March at the South Discovery Zone and field preparations are underway. Further information on the drilling will be provided in the near future.
The 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.
Samples for the recent program were analyzed by an ISO 9001 certified and accredited facility. A quality assurance and quality control (QA/QC) program is in place. The Qualified Person for this news release is Mr. Warner Gruenwald, P.Geo. and VP Exploration for Altair Ventures Inc.
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.
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.
