Animas Plans an Aggressive Program in Q4 at Santa Gertrudis
August 31 2011 - 4:10PM
Marketwired Canada
Animas Resources Ltd (TSX VENTURE:ANI) -
-- Commencement of a Pre-feasibility Study to preliminarily assess the
economic viability of new gold production at Santa Gertrudis.
-- Limited exploration drilling within the Cristina, Silicoso and Trinidad
areas (Santa Gertrudis).
-- Continuing generation of new projects within the Sonora Gold Belt
(Herradura-type gold systems).
-- Continue review of high quality acquisition targets/properties
throughout Mexico.
Animas Resources Ltd. plans to begin an aggressive exploration/pre-feasibility
program at the Santa Gertrudis gold project in northern Mexico. This program
will be financed by the $3.4 million financing announced with a strategic
shareholder earlier today, and from cash on hand. The program will shift Animas
from an exploration approach at Santa Gertrudis to moving the project towards
gold production.
John R. Wilson, President of Animas Resources Ltd., commented: "Santa Gertrudis
has two valid assets: near surface, potentially mineable gold resources and a
new molybdenum discovery at El Tigre. Previously, exploration had been focused
on discovering large deposits while knowing all along that the near surface gold
resources offered a unique opportunity for relatively near-term gold production.
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."
Prefeasibility Study for gold production at Santa Gertrudis
The commencement of a major prefeasibility mining study at Santa Gertrudis,
Mexico is in the planning stages and will begin in Q4, 2011. The Santa Gertrudis
gold project has a NI 43-101 compliant resource of 557,000 ounces announced on
January 5, 2011 (see Table 1), and this study will begin an in depth evaluation
of the economic viability of these resources. The program to complete the PFS
will include infill drilling within the known resource areas, block modeling,
engineering studies, metallurgical test work, and mine/plant design.
Concurrently with the pre-feasibility program, the Company will conduct
selective exploration drilling within the Silicoso, Cristina Deep, and Trinidad
areas for the purpose of adding significant additional gold resources to the
existing resource base in these areas.
Selective new project review program
Animas will also continue working on selective prospect and project review for
gold, silver and copper projects within northern Mexico. This program has been
ongoing for most of 2011, and it is primarily targeted at identifying new gold
acquisition targets for the Company. This program is planned to be continued
during the remainder of 2011, and the Company is optimistic that high quality
gold projects can be identified and acquired.
Exploration programs
The Company will continue with reconnaissance exploration within the Sonora Gold
Belt of western Sonora, Mexico (Arizona-Sonora Megashear). This project also has
been ongoing for most of 2011, and it is designed to identify early-stage,
Herradura-type, orogenic gold prospects with the potential for 1MM+ ounces of
gold. Numerous prospects have been reviewed during this program, and one, highly
prospective, covered gold target currently is being acquired. Additional
information on this project will be provided as it becomes available.
Ariel Copper Project
The Company will continue to look for JV/Option partners for the Ariel property
near the very large Nacozari Cu-Mo porphyry deposit (Grupo Mexico). Teck
Resources Ltd. has staked a large area of ground adjoining the Ariel property.
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
development, 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.
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 Roger C. Steininger, a Qualified Person as defined by
National Instrument 43-101 of the Canadian Securities Administrators.
For additional information, contact Animas Resources Ltd. at 604-687-6197, or
you may register to receive future news releases at www.animasresources.com.
John R. Wilson, President
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.
Table 1
Inferred Resource Estimates for the Santa Gertrudis Project
---------------------------------------------------------------------------
Grade Contained
Cutoff Tonnes (ppm Ounces
Deposit (ppmAu) (1,000's) Au) 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.
Cutoff Grade & Metallurgy
The resource size is sensitive to an assumed cut-off grade, which is, in turn,
very sensitive to metallurgical operating costs. Cuff-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.
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