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DIAMOND DRILL PROGRAM TO START AT PROSPECT VALLEY GOLD PROPERTY, MERRITT, BC
DIAMOND DRILL PROGRAM TO START AT PROSPECT VALLEY GOLD PROPERTY, MERRITT, BC
About this update from Altair Resources, Inc.
[{"type":"text","content":"\nDIAMOND DRILL PROGRAM TO START AT PROSPECT VALLEY GOLD PROPERTY, MERRITT, BC\n\n\n Mar. 8, 2010 (TheNewswire.ca) -- Consolidated Spire Ventures Ltd (\"Spire\")(TSX.V: CZS) and Altair Ventures Incorporated (TSXV:AVX) (\"Altair\")(TSX-V: AVX) are pleased to provide further details of the imminent diamond drilling program 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 diamond drill 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. Should sufficient continuity exist, the results will be used to estimate an initial NI 43-101 compliant resource for the South Discovery Zone.Previous drilling identified an extensive system of gold mineralization associated with disseminated pyrite in amygdaloidal basalts. The zone appears to strike northeasterly and dip moderately to the northwest and sits adjacent to a normal fault. Alteration within the mineralized zone is strong and consists of silicification, sericitization and hematization, while the rock below the fault is strongly chloritic and non gold-bearing.A compilation of previous exploration data, including the recently completed infill soil sampling program shows that gold mineralization appears to correlate quite well with both soil geochemistry and Induced Polarization (IP) chargeability anomalies. As such, the new diamond drilling program will focus on the areas within the South Discovery Zone where these features are strongest. If this correlation can be better established then subsequent drill programs will test IP anomalies that appear to be deeper and have no surface expression through the soils.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. The northeast trend appears to reflect the aforementioned fault that is spatially related to gold mineralization. The results of a magnetic survey flown over the property indicate that this trend continues to the northeast and also that several parallel features exist on the property...