AXcess News: PDAC 2008 Produces "Rock Star" Amongst Junior Gold Exploration Mining Companies
13 März 2008 - 8:43PM
Marketwired
NEW YORK, NY (PINKSHEETS: CZSVF) stood out above the others, not
because of a glamorously laid out exhibit, nor for having one of
the more visible exhibit booths -- but because of a display of
rocks and the story behind it.
In a telephone interview Wednesday, Cons. Spire Ventures
President R. Brian Buchanan told AXcess News that he was surprised
by how many people were coming up to his company's booth, though
his modesty couldn't hide the fact that what was attractive was the
fact that CZS had discovered a major gold play near Merritt,
British Columbia, which is about a two hour drive from
Vancouver.
Called the Spences Bridge Gold Belt, the property is surrounded
by some of the largest open-pit copper mines in the Province.
Consolidated Spire Ventures' find is the first time gold has been
discovered there and what attracted so many visitors was the fact
that the discovery could be mined in an open-pit fashion, which is
much more economical than hard rock mining.
Buchanan said that he and the company's geologists had walked
the entire stretch of the Spences Bridge Gold Belt, staking out
what they thought represented the best prospects. Since filing
claims on the property, other mining companies have moved in and
surrounded their property with claims of their own. But Buchanan
said that didn't concern him that much as they believed they had
the richest claims in the area.
According to a recent press release, a portion of the property
Consolidated Spire Ventures has explored through several years of
drilling and trenching programs holds somewhere in the neighborhood
of 3 million ounces of recoverable gold and that it only represents
about 1/2 percent of the total acreage, or 2.5 kilometers. Buchanan
said that there were another 4 kilometers still to be explored, but
he believed that the structure of the veining would reveal
substantially greater reserves. A 43101 report is due out shortly
and Buchanan said that several larger mining companies who visited
CZS' booth at the PDAC 2008 convention met with executives to
discuss their gold property further, though he would not give
details or names, citing non-disclosure agreements that were
struck.
When asked about the viability of developing the property,
Buchanan noted that there were good accessible roads nearby as well
as power and rail and that an experienced workforce was only 20
kilometers away in nearby Merritt, BC, making the development of an
open-pit gold mine more practical.
Buchanan said that the Company had no intentions of mining the
property itself, saying it was best left up to more experienced and
well capitalized companies to enter into an agreement with
Consolidated Spire Ventures Ltd. to mine the gold.
With gold prices topping a record high Thursday of $1001 an
ounce, when CZS first started exploring the Spences Bridge Gold
Belt, gold was less than $250 an ounce. "It was economical then,"
said Buchanan, "so you can imagine the interests now."
Consolidated Spire Ventures was just at the end of completing
the sale of a $750,000 private placement that Buchanan said was
plenty of capital to fund further drilling and exploration of the
property this year, so even if the Board of Directors of CZS
doesn't come to terms with one of the larger gold mining companies
who visited their booth at PDAC 2008, chances are that with further
proving up of its claims the property will only attract a wider
audience of interested mining companies as the year progresses.
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