| | Published : January 05th, 2011 | Files Resource Estimate Report For Santa Gertudis Project |
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Animas
Files Resource Estimate Report For Santa Gertudis Project
Animas Resources Ltd (TSX.V: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
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
|
- CIM definition standards were
followed for the resource category estimates.
- 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.
- 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.
- 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.
- Mineral Resources that are not
mineral reserves do not have economic viability.
- Resources may contain sulfide
material that may be significantly less economically viable than oxide
material.
- The 2009 resource model for
Cristina, (Ristorcelli, 2009) 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.
- A total 7,159 meters of
drilling in 13 core holes and 58 RC holes were used for the Cristina
estimate.
- Resource parameters/methodology
are detailed in the previously released Animas NI
43-101 report on Santa Gertrudis (Ristorcelli, 2009).
- 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. 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.
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.
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.
Copyright �
2011 ANIMAS RESOURCES LTD. (ANI) All rights reserved.
For more information visit our website at http://www.animasresources.com/ or send email to info@animasresources.com ..
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Animas Resources
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EXPLORATION STAGE |
CODE : ANI.V |
ISIN : CA0352651073 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Animas Res. is a gold and molybdenum exploration company based in Canada. Its main exploration properties are SANTA GERTRUDIS and BACANUCHI in Mexico. Animas Res. is listed in Canada. Its market capitalisation is CA$ 14.0 millions as of today (US$ 12.7 millions, € 9.2 millions). Its stock quote reached its highest recent level on March 07, 2008 at CA$ 2.14, and its lowest recent point on November 15, 2013 at CA$ 0.03. Animas Res. has 73 630 000 shares outstanding. |
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