Prospecting by Almaden Minerals Ltd. (Almaden)
during 2001 to 2005 has identified a new district of low sulphidation
epithermal gold prospects now called the Spences Bridge Gold
Belt. The Skoonka Creek prospect was optioned to Strongbow Explorations
Inc. (Strongbow) and the Prospect Valley prospect was dealt to
Consolidated Spire Ventures Ltd. (Spire). Both Strongbow and
Spire are working to earn a 60% interest in these projects for
property work and share payments to Almaden. Both Strongbow and
Spire had very encouraging results from their 2005 property programs
and both have announced aggressive plans for the 2006 field season
as outlined in the following excerpts from recent news releases.
Skoonka Creek:
"Strongbow Exploration Inc. (SBW: TSXV)
and Almaden Minerals Ltd. (AMM: TSX) are pleased to report that
drilling has recommenced on the Skoonka Creek gold property in
southwestern British Columbia. Approximately 2000 metres of drilling
are planned to follow up on the encouraging results returned
from October 2005 drilling of the JJ prospect, which successfully
traced a gold bearing low sulphidation epithermal vein system
over a strike length of 350 m and to a maximum depth of 50 metres.
The first holes of the current program are intended to test down
dip of drill hole SC-008, which returned a highlight gold grade
of 20.2 g/t gold over 12.8 metres (Strongbow News Release #06-03,
January 23, 2006). Coincident with the drilling program, ground
geophysical surveys are planned to test a number of soil geochemical
anomalies that have been identified to the northeast of the JJ
prospect. Final orientation of the ground geophysical surveys
are being determined with the aid of recently received data from
a January 2006 helicopter borne magnetic/electromagnetic survey
of the northwestern portion of the property. Results of these
ground geophysical surveys will be used to identify priority
target areas for subsequent exploration drilling. The current
drilling and ground geophysical surveys are part of a tentative
$1.2 million exploration program planned for the Skoonka Creek
property during 2006.
The Skoonka Creek property is located within
the emerging Spences Bridge Gold Belt, approximately 3 hours
by car east of the city of Vancouver. Under the terms of a June
2005 option agreement with Almaden, Strongbow is working to earn
up to a 60% interest in the property by incurring $4 million
in exploration expenditures and making certain share issuances
over a 6 year period. Exploration of Strongbow's gold exploration
properties is conducted under the supervision of David Gale,
P.Geo.(BC), Vice-President of Exploration for Strongbow and a
qualified person under NI 43-101." [Skoonka
+]
Prospect
Valley:
"CONSOLIDATED SPIRE VENTURES FINALIZES
CORE DRILLING CONTRACT FOR PROSPECT VALLEY, MERRITT, B.C. Consolidated Spire Ventures Ltd. has signed
a drilling contract for the Prospect Valley gold property near
Merritt, B.C., Canada. It is anticipated that drilling will commence
in mid- to late April 2006, weather permitting.
The Prospect Valley property is in the Spence's
Bridge gold belt, a new and evolving epithermal gold district
in Southern British Columbia. Spire's 2005 exploration program
on the property indicated the presence of a large, low-sulphidation
epithermal gold system in the central part of the property. Soil
geochemistry defined anomalous gold values over an area approximately
3,500 metres long by 200 metres to 400 metres wide, known as
the RM/RMX gold anomaly. Hand trenching in two parts of the zone
exposed stockwork vein systems with elevated gold values (see
Stockwatch news dated Jan. 4, 2006, for details). Initial results
from an induced polarization (IP) geophysics survey now being
completed corroborate the soil and trench results.
The 2006 drill program will test the RM/RMX
gold system to depth and along its strike length. Further details
on the drill program and final results of the induced polarization
(IP) geophysics survey will be forthcoming shortly. George Gorzynski,
P.Eng, a qualified person under the meaning of Canadian National
Instrument 43-101, is responsible for the technical information
in this news release. " [PV +]
Almaden looks forward to further news from
these projects. The Company has six other prospects along this
belt. Two have had preliminary property work programs completed
and discussions have been held with parties interested in option
agreements. The company also plans a summer program on the remaining
prospects to advance them to a stage where other parties may
wish to option them.
