VANCOUVER, British Columbia, May 14, 2007 (PRIME NEWSWIRE) -- Consolidated Spire Ventures Ltd. ("Spire") (TSX-V:CZS) is pleased to announce that the Diamond Drilling Program at the Yago Property has commenced. The first phase of the drill program will include a total of 2,000m of NQ and HQ core size. The first three holes will test the Magnolia Vein down to a vertical depth of approximately 200m. Additional drilling will focus on the Esperanza Vein, located approximately 500m northwest of the Magnolia Vein and other newly discovered veins in the southern area of the property. Exploration and sampling continues on these new areas. Based on epithermal vein system models, it is believed that there is excellent potential for gold- and silver-bearing ore shoots to extend to at least 300m below the current erosion level with gold grades expected to increase with depth.
To date, on the Yago Property, only shallow exploration and very small-scale mining has been carried out. Currently ten (10) newly discovered quartz veins have been identified, by the Spire exploration team, particularly in the southern section of the property. An aggressive trench program is underway in these new areas. The purpose of the trenching is to map "vein continuity" along strike to determine structural attitude and the precious metal content on surface.
A quality assurance and quality control (QA/QC) program is in place. Initial drill core sample results will be reported as soon as they are received. The Qualified Person for this news release is Victor Jaramillo, P.Geo., Exploration Manager, Consolidated Spire Ventures Ltd.
The newly acquired Yago Gold/Silver Property is located in the state of Nayarit, Mexico, on the Pacific coast, approximately 50kms north of the city of Tepic. Currently, this property is the subject of an option agreement with Almaden Minerals Ltd. (TSX:AMM), whereby Spire can earn a 60% interest. The property comprises 16 claims that total 2,731 hectares and lies within the coastal lowlands of the West Coast of Mexico.
Spire's North American Projects
At present, the Company is focusing on three projects: the 107.9 sq km, 100% owned Prospect Valley Gold Property, located within the Spences Bridge Gold Belt near Merritt, British Columbia, Canada; the 2,731-hectare Yago Gold/Silver Property located in the state of Nayarit, Mexico; and the Campanario Gold/Silver Property located southwest of Oaxaca City, Mexico.
The Company is also actively pursuing other gold/silver, 100% Spire-owned, exploration properties in several Mexican States, with a plan to offset the exploration costs by joint venturing the properties with other exploration companies. Once acquisitions are complete, the location and size of the properties will be disclosed.
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.
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