Animas Files Resource Estimate Report for Santa Gertudis Project
January 05 2011 - 8:00AM
Marketwired Canada
Animas Resources Ltd. (TSX VENTURE:ANI) is pleased to announce that it has now
filed the NI 43-101 technical report ("Technical Report And Resource Estimate on
the Santa Gertrudis Gold Project, Sonora, Mexico") dated December 31, 2010 on
Sedar for the Santa Gertrudis project located in Sonora, Mexico. This report was
prepared by Mr. Alan Noble, P.E., Principal Engineer for Ore Reserves
Engineering ("O.R.E."), along with Dr. Roger C. Steininger and Gregory E.
McKelvey as Qualified Persons as defined by National Instrument 43-101 and John
R. Wilson as VP of Exploration of the Company.
The updated NI 43-101 compliant resource estimates for seven gold deposits at
Santa Gertrudis, plus the previous estimate for the Cristina deposit, contain
inferred resources of 557,000 ounces of gold. The updated resource estimates
represent an increase of over 300% from the NI 43-101-compliant resource
estimate filed on July 2, 2009 ("Technical Report on the Santa Gertrudis Gold
Project, Sonora, Mexico" dated May 1, 2009, "Ristorcelli, 2009"), all of which
are in the inferred resource category, as summarized in Table 1, and are
consistent with historical resources estimates for these deposits.
Table 1
Inferred Resource Estimates for the Santa Gertrudis Project
Cutoff Tonnes Grade Contained
Deposit (ppm Au) (1,000's) (ppm Au) Ounces Gold
Trinidad 0.30 1,100 1.69 59,900
Escondida 0.30 1,389 1.16 52,000
Greta 0.30 800 2.41 62,000
La Gloria 0.30 500 2.68 43,100
Tigre 0.30 350 1.94 21,900
Tracy 0.30 500 2.42 38,900
Dora 0.30 1,200 2.53 97,600
Mirador 0.30 520 1.80 30,100
----------------------------------------------------------------------------
Total O.R.E. Oct 2010
Estimates (1,2,3,4,5,6) 0.30 6,359 1.98 405,500
----------------------------------------------------------------------------
Cristina (MDA 2009)
(1,5,7,8,9) 0.30 7,139 0.66 151,500
----------------------------------------------------------------------------
Project Total 0.30 13,498 1.28 557,000
----------------------------------------------------------------------------
1. CIM definition standards were followed for the resource category
estimates.
2. The 2010 resource models by O.R.E. use inverse-distance-power (IDP)
grade estimation within three-dimensional block models with mineralized
envelopes defined by wire-framed solids. Grade zones were defined using
nearest-neighbor assignment. A block size of 2x2x2-meters was used for
the block models.
3. A total of 48,815.47 meters of drilling in 574 drill holes were used in
the 2010 resource estimates by O.R.E. The majority of the drilling is
reverse circulation (RC) drilling.
4. Dilution is included for a minimum mining width of 2.0 m in the 2010
estimates. O.R.E. estimates for reserves will require additional
dilution depending on the mining method and selectivity.
5. Mineral Resources that are not mineral reserves do not have economic
viability.
6. Resources may contain sulfide material that may be significantly less
economically viable than oxide material.
7. The 2009 resource model for Cristina, (Ristorcelli, 2009) used IDP grade
estimation within mineral zone outlines interpreted on N60 degrees E
looking cross-sections. A block size of 6x6m horizontally and 3m
vertically was used for the block model.
8. A total 7,159 meters of drilling in 13 core holes and 58 RC holes were
used for the Cristina estimate.
9. Resource parameters/methodology are detailed in the previously released
Animas NI 43-101 report on Santa Gertrudis (Ristorcelli, 2009).
10. Additional drilling and geologic modeling will be necessary to upgrade
these resources to the indicated or measured category.
The newly filed NI 43-101 report also identifies 14 other near surface gold
concentrations that represent exploration targets that might result in the
discovery of additional gold deposits. The document also outlines the potential
for significant molybdenum mineralization in the El Tigre area.
Cutoff Grade & Metallurgy
The resource size is sensitive to an assumed cut-off grade, which is, in turn,
very sensitive to metallurgical operating costs. Cut-off grades used in this
study are reasonable given historic operating data and current market
conditions.
Mineral Resources are not Reserves
Mineral resources that are not mineral reserves do not have demonstrated
economic viability. Mineral resource estimates do not account for minability,
selectivity, mining loss and dilution. These mineral resource estimates are
inferred mineral resources that are normally considered too speculative
geologically to have economic considerations applied to them that would enable
them to be categorized as mineral reserves. There is also no certainty that
these inferred mineral resources will be converted to measured and indicated
mineral resource categories through further drilling, or into mineral reserves
once economic considerations are applied.
Quality Assurance
The mineral resource estimate was completed by Mr. Alan C. Noble, P.E.,
principal engineer of Ore Reserves Engineering, and is based on geological
interpretations supplied by the Company to ORE and subsequently modified by
O.R.E. Mr. Noble is an independent qualified person for the purposes of National
Instrument 43-101 standards of disclosure for mineral projects of the Canadian
Securities Administrators and has verified the data disclosed in this news
release.
Gregory E. McKelvey, President of Animas Resources Ltd. commented: "We are
pleased that the gold resources in these deposits are remarkably close to the
historic resources. We focused on the largest of the known deposits with an eye
to identifying which deposits might be potentially considered for gold
production."
About Animas Resources Ltd.
Animas Resources Ltd., a North American mineral resource company focused on
acquisition and discovery, consolidated the Santa Teresa District's Santa
Gertrudis precious metal and related deposits and prospects within a 562 square
kilometer land holding. Our mission is to grow Animas Resources through
discovery and acquisition of high-quality mineral deposits and to build upon the
historic gold resource base at Santa Gertrudis, Mexico, and maintain a pipeline
of only the highest quality projects. Golden Arrow and Kinsley Mountain are the
most recent additions to the Animas exploration property portfolio.
This news release was prepared by Company management, who take full
responsibility for its content. The technical disclosure in this press release
has been reviewed by Dr. Roger C. Steininger, a Qualified Person as defined by
National Instrument 43-101 of the Canadian Securities Administrators.
You may register to receive future news releases at www.animasresources.com.
Gregory E. McKelvey, President & Director
This press release contains "forward-looking information" which may include, but
is not limited to, statements with respect to drilling plans, timing of our
planned NI 43-101 resource report, timing of assays, resource estimates,
projections, our planned exploration and drilling programs, the availability of
future financing for exploration and other plans, projections, estimates and
expectations. Such forward-looking statements reflect our current views with
respect to future events and are subject to certain risks, uncertainties and
assumptions, including, the risks and uncertainties outlined in our most recent
financial statements and reports and registration statement filed with the
Canadian securities administrators (available at www.sedar.com). Should one or
more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
anticipated, believed, estimated or expected.
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