Please Note: Animas Resources released this press release yesterday
Thursday, January 8
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Re: News Release - Thursday, January 08, 2009
Animas Resources Forms Special Committee to Evaluate Business
Opportunities and Updates on Cost Reductions, Assay Results and
Stock Options
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Animas Resources Ltd. (TSX.V: ANI) is pleased to report that management
has formed a Special Committee to evaluate potential production
scenarios in the Santa Teresa Mining District. The Special Committee
will be charged with evaluating several different possible business
scenarios, including possible limited gold production, in conjunction
with the new NI 43-101 compliant resource report anticipated to be
released in early 2009. The Special Committee will also be assisting
management in reviewing possible strategic partnerships for the
district or specific large project areas contained within the district.
The Special Committee will be headed by Dr. Hugh Miller, a mining
engineer and Director of Animas Resources, along with members of the
Company's advisory board including Mr. Jerry Hanks, a metallurgist /
mining engineer, who worked on Santa Gertrudis for Phelps Dodge at the
inception of their gold mining period.
Gregory E. McKelvey, President of Animas Resources, commented "Our
focus will continue to be on the exploration and discovery of larger
disseminated gold deposits in the district. Recent geological work
supports the existence of three larger thermal zones reasoned to be
discreet centers for mineralization. However, with the current strong
gold price that we believe may continue, it is prudent to evaluate all
of the Company's opportunities, including assessing the potential for
near term gold production."
Cost Reductions
The Company has reached tentative agreements with several of the
property vendors to delay or defer property payments in 2009.
Discussions are continuing with one additional property vendor. "All
the parties involved are totally committed toward focusing our efforts
and resources on discovery through field work and testing of the best
targets." said Gregory E. McKelvey.
Animas Resources has also reduced basic wage expenses and is reducing
additional expenses in the areas of consulting, access agreements,
property payments, and overhead. While much of the crucial third party
consulting that was needed has been done, several of our remaining
consultants have reduced their fees in recognition of the ongoing
financial problems in the economy and as a result of their commitment
to the project.
Assay Results
Assay results have taken far longer than Animas Resources management
finds acceptable. In early September Animas performed a detailed
process review of the assay lab and it was apparent that the assay lab
was not operating in the agreed upon time frame. The decision was made
in early September to move the completed drill holes to be assayed by a
new lab in Tucson. The remaining 13 holes in the drill program where
delivered on an ongoing bases through mid-November to the new lab. Five
holes have been reported and the Company's QP now has most of the data
needed for 5 additional holes that will be released shortly. Animas
Resources has been promised that the Company's assays should now be
received for the remaining holes over the next 30 days.
Gregory E McKelvey President of Animas Resources commented "I accept
full responsibility for the delays caused by these laboratories and
while we find the situation totally unacceptable to the point we will
modify our practices accordingly, we are comfortable with the quality
of the data. Our QA/QC program is working well and while the results
are late, they are not in question. Quality is cornerstone in assay
results, above all else."
Company Stock Options
The Board of Directors of Animas Resources has elected not to reprice
any outstanding stock options at this time despite the fact that these
options were priced prior to the general market turmoil that has
decreased asset values in all industries. Management is committed to
the long term prospects of the Company and this best aligns their
interest with shareholders.
About Animas Resources Ltd.
Animas Resources Ltd., a North American mineral resource company
focused on acquisition and discovery in Latin America, has
re-consolidated the Santa Teresa District's Santa Gertrudis gold
deposits and prospects within a 624 square kilometer land holding. The
Company also controls the 294 square kilometer Shirley exploration
concession in the Bacanuchi area of Northern Mexico. 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.
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 press releases at .
"Gregory E. McKelvey"
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Gregory E. McKelvey, President & Director
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Copyright (c) 2009 ANIMAS RESOURCES CORP. (ANI) All rights reserved.
For more information visit our website at
http://www.animasresources.com/ or send mailto: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. |