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Acrex announces progress on Spanish Mountain drill program
Acrex announces progress on Spanish Mountain drill program.
About this update from Avventura Resources Ltd.
[{"type":"text","content":"\n\n\n\n\n>\n\nVANCOUVER, Oct. 23 /CNW/ - Acrex Ventures Ltd. (\"Acrex\") is pleased to\nannounce that diamond drilling is progressing on its optioned Spanish Mountain\nproperty, located near Likely, BC. The Spanish Mountain Property is located\nimmediately adjacent to and along strike from Skygold Ventures Ltd. and Wild\nRose Resources Ltd., Spanish Mountain, joint venture gold project.\nThe Skygold Ventures Ltd. and Wildrose Resources Ltd. joint venture\nSpanish Mountain property has been described as a Sediment Hosted Vein deposit\n(hosting significant bulk mine-able zones of gold mineralization). Grades of\n1.5 g/t gold to 2.5 g/t gold over widths of 50 metres to over 100 metres have\nbeen reported by the joint venture.\nAcrex initiated diamond drilling on its Spanish Mountain property on\nSeptember 1, 2006. Drilling was designed to test zones of elevated gold in\nsoil that were defined by grid sampling within the Hepburn Lake grid (see news\nrelease dated July 20, 2006). A total of 8 diamond drill holes were completed\nwithin the grid area. The bedrock intersected in these drill holes indicates\nthat the geologic trend continues to the west from the Skygold-Wildrose joint\nventure property. Acrex is currently waiting for final assay results from\nsamples sent to Acme Laboratories in Vancouver, BC from the initial 8 diamond\ndrill holes.\nContinued drilling is designed to test a broad zone of argillaceous\nmudstones in contact with siltstones to the north of the initial 8 diamond\ndrill holes (06SpM-01 to 06SpM-08). Interpretation of drill core extracted\nfrom drill holes 06SpM-09 and -10 indicates that this zone hosts elevated\nlevels of pyrite and quartz veining, with geology similar to that described by\nP. Klipfel whom is a recognized authority on Sediment Hosted Vein deposits, as\nhaving the potential to host Sediment Hosted Vein gold deposits, including\nnumerous shear zones with associated hydrothermal alterations.\nSediment Hosted Vein deposits have been described by Paul Klipfel, Ph.D.\nof Mineral Resources Services Inc. on the Skygold Ventures Ltd website. These\ntype of deposits are hosted in extensive belts of shale and siltstone\nsedimentary rocks. One attractive characteristic of Sediment Hosted Vein\ndeposits from the mining standpoint is that they can be gold-only systems with\nsimple metallurgy.\nAcrex is cu...