Dec 10 2010
Animas Resources Ltd. (TSX VENTURE:ANI) reports our gold and multi-element analytical results for a 16 drill-hole exploration program completed at the Golden Arrow gold-silver prospect Nevada. No intervals of substantial gold mineralization were encountered, but several holes encountered anomalous gold and pathfinder element enrichments in strongly-altered volcanic rock that must be interpreted within the larger geological setting:
The only two multi-sample gold Intervals over 1 gram per tonne gold (g/t Au): in the 14,185 feet of drilling are:
A Technical Report on the Golden Arrow Project dated June 9, 2010 can be found on Sedar at www.sedar.com or on the Company's website at www.animasresources.com. The resource estimate in the Technical Report uses a variable cut-off grade of 0.010 ounces per ton (opt) gold for oxide material and 0.015 opt gold for non-oxidized material and consists of:
- A measured and indicated resource of 12,172,000 tons with an average grade of 0.024 opt Au, and an average silver grade of 0.33 opt Ag containing 296,500 ounces of gold and 4,008,800 ounces of silver.
- An inferred resource of 3,790,000 tons at an average grade of 0.013 opt Au, and an average grade of 0.33 opt Ag containing 50,400 ounces of gold and 1,249,000 ounces of silver.
The objective of the 2010 drill program was to augment this defined resource through discovery of additional new centers of mineralization. Exploration drill holes were widely-spaced over an area of approximately 2 square miles (see locations on accompanying map). The drilling program was comprised of four diamond core holes totaling 3,785 feet and ten reverse-circulation drill holes totaling 10,400 feet. Analytical work was done by American Assay Laboratories Inc, of Sparks Nevada. Completion of the drilling program satisfies the work commitment of Animas to Nevada Sunrise Gold Corporation. Preparation of final technical reports will involve integrated interpretation of drill-hole geology and geochemistry in the context of the district geological setting.
Gregory E. McKelvey, President of Animas Resources Ltd. commented: "The program adequately and effectively tested a number of areas for large-scale disseminated gold mineralization and targets similar to the known deposits at Gold Coin and Hidden Hill. We continue to look to acquire high quality targets that have large deposit potential that our exploration teams can quickly and efficiently identify and effectively test."
Animas has received considerable interest in both the gold resources and the molybdenum potential at its Santa Gertrudis property in Sonora Mexico. Several substantial and producing companies are taking a close look at the data and property.