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Animas Announces Three-Fold Increase in Gold Resource Estimates for the
Santa Gertudis Project from the Prior NI 43-101
Report
V
Animas Resources Ltd (TSX.V:ANI) is pleased to report that Mr. Alan
Noble, P.E., Principal Engineer for Ore Reserves Engineering
("O.R.E."), completed a review and updated several of the historic
gold resource estimates at Santa Gertrudis to NI
43-101 compliant resource estimates. 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 and are all in the inferred resource category, as summarized
in Table 1, and are consistent with historical resources estimates for these
deposits. A revised NI 43-101 Technical Report to be filed on www.sedar.com
within 45 days.
Table 1
Inferred Resource Estimates for the Santa Gertrudis
Project
|
Deposit
|
Cutoff
(ppmAu)
|
Tonnes
(1,000's)
|
Grade
(ppm Au)
|
Contained 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, by MDA, used
IDP grade estimation within mineral zone outlines interpreted on N60�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.
MDA resource parameters/methodology are detailed in the previously released Animas NI 43-101
report on Santa Gertrudis.
10.
Additional drilling and geologic modeling will be
necessary to upgrade these resources to indicated or measured status.
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
ORE. 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 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 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.
"Gregory E. McKelvey"
_________________________________________
Gregory E. McKelvey, President & Director
Neither
TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
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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