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Jul. 20, 2010 (TheNewswire.ca) --
Consolidated Spire Ventures Ltd. ("the Company" or "Spire") is please to provide a corporate property update on its two Canadian properties.
Fox Creek Lithium Property, Alberta - The field research program continues on the Company's 164,072 contiguous acre property, prospective for lithium, located about 35km west of Fox Creek, Alberta within the Devonian Leduc Formation. Spire is currently contacting the owners of the outlined 37 oil and/or gas wells that are within the confines of the property. These wells are dispersed throughout the property and are existent in 7 of the 9 claim blocks. Lithium and other mineralization is contained in formation waters that are currently being extracted along with oil and/or gas by various energy companies sharing the property with Spire. The Company holds the rights to the lithium and other mineralization, while the various operators own the oil and gas rights. Based upon the concentrations of lithium in formation waters in the Leduc aquifers, further exploration could be warranted for lithium-bearing brines underlying the property.
Spire has a 100% interest in the Fox Creek Lithium Property in an area outlined by the Alberta Research Council and Alberta Geological Survey as having potential for a large resource of lithium within the formation waters. The Qualified Person for the technical portion of this news release is Mr. Victor Jaramillo, P.Geo.
Prospect Valley Gold Property, Merritt, British Columbia - The Company is currently waiting for the operating partner to complete an announced financing, and is looking forward to further exploration on its 107.9 sq km property. The property is road-accessible, in close proximity to good infrastructure, and is located within the Spences Bridge Gold Belt approximately 3 hours driving time from Vancouver. The Prospect Valley Gold Property 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. Altair Ventures Inc. (TSXV:AVX) is the operator of the project and has an option to earn up to a 90% interest.
If you are not currently on the CZS updates list, please send in your email address to info@spireventures.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 further information contact the Company at (604) 662-7455 or website: www.spireventures.com.
FOR INFORMATION OR INVESTOR RELATIONS,
CONTACT THE COMPANY AT (604) 662-7455 or WEBSITE: www.spireventures.com
ON BEHALF OF THE BOARD,
Brian Buchanan, 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release
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