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ALTAIR ANNOUNCES UNIT PRIVATE PLACEMENT AND EXPANSION OF GOLD MINERALIZATION AT PROSPECT VALLEY
ALTAIR ANNOUNCES UNIT PRIVATE PLACEMENT AND EXPANSION OF GOLD MINERALIZATION AT PROSPECT ...
About this update from Altair Resources, Inc.
[{"type":"text","content":"\nALTAIR ANNOUNCES UNIT PRIVATE PLACEMENT AND EXPANSION OF GOLD MINERALIZATION AT PROSPECT VALLEY\n\n\n Jun. 2, 2010 (TheNewswire.ca) -- Altair Ventures Incorporated (\"Altair\" or \"the Company\"; TSX-V: AVX) and Consolidated Spire Ventures Ltd (\"Spire\"; TSX-V: CZS) are pleased to report that results from the 2010 Phase I drilling program within the South Discovery Zone (SDZ) of the Prospect Valley property in southern BC have continued to extend the strike length and width of gold mineralization.PROSPECT VALLEY PROJECT UPDATEAssays have now been received from the last three holes of the eleven-hole program. Hole PV-10-09 was drilled up-dip from, and on section with, holes PV-10-07 and 08 and further extended the width of the gold mineralization to the southeast with an intersection of 27.95 metres grading 0.41g/t gold. Hole PV-10-08 (previously reported on May 19, 2010) intersected 68.69 metres grading 0.89g/t gold, including 32.64 metres of 1.32g/t gold that, in turn, included a higher grade section assaying 2.93g/t gold over 7.53 metres. The 68.69 metre interval also included a deeper section of 7.96 metres grading 1.44g/t gold.Holes PV-10-10 and 11 were drilled 450 and 550 metres, respectively, along strike to the northeast and filled-in and extended the strike length of gold mineralization in that direction. The zone is still open along strike to the northeast. The SDZ is now known to have a strike length of more than 600 metres, although the central 100-150 metres may be offset to the northwest and further work is needed to test this hypothesis. It is locally more than 90 metres in vertical thickness, and more than 200 metres wide in the middle.\"The success of the Phase I drill program is significant, not only because the continuity of gold mineralization should allow us to prepare a preliminary resource estimation, but because the intensity and extent of the mineralization and alteration in the SDZ is indicative of a strong mineralizing system. We have gold anomalies spread over 40 square kilometres at Prospect Valley, some of which are bonanza grade, and we look forward to advancing these targets over the coming summer field season\" said Fayyaz Alimohamed, President of Altair.The Phase I program consisted of 1,127 metres in 11 drill holes and was successful in proving the continuity of gold mineralization intersecte...