Animas Resources Encounters Molybdenum System At El Tigre, Starts New Ni43-101 Report And Updates On Ariel Concessions

Wednesday, 28 July 2010 05:48

Animas Resources Ltd. (TSX.V:ANI) report significant progress in its field exploration program at El Tigre, Santa Gertrudis Mexico.

Six drill holes (AREN-001 and ARET-001 through 005) and geological mapping/geochemical sampling of the surface exposures at the El Tigre prospect have identified what appears to be an igneous intrusive center with related molybdenum mineralization. Felsic intrusives and intrusive breccias with a variety of quartz porphyry clasts indicate that multiple intrusive events with related molybdenum mineralization are present at El Tigre. Numerous cross-cutting veins and igneous relations indicate that this is potentially a complex molybdenum system. All of the drill holes encountered strongly anomalous molybdenum, and surface sampling has defined an extensive area of anomalous molybdenum in soils and rock-chip samples. Trace element geochemistry from core and soil sampling reveal a picture that is supportive of a potential significant area of molybdenum mineralization. Dr. Roger C. Steininger, an industry respected molybdenum expert, in collaboration with John R. Wilson, Jefferson Chambers and Bryan MacFarlane, is synthesizing the extensive database for the area and will produce a report, with recommendations, outlining the next level of exploration to fully define the area's potential. Once all the relevant analyses are received, reviewed and integrated, a report will be released documenting the significance and business alternatives open to Animas to maximize the best value to our shareholders.

Animas initially targeted the El Tigre area for the gold and base metal skarn potential. The alteration system is exposed over 6 square kilometers with only one, volumetrically insignificant known intrusive. This program primarily targeted the down-dip, favorable sedimentary units in the area of skarn, but subsequently the inferred center of alteration, skarnification, and anomalous geochemistry (Mo, Zn, Mn, K) was targeted for exploration. One hole was specifically targeted to search for evidence of an intrusive center (ARET-004). During late 2009 and 2010, at El Tigre, Animas completed six diamond drill holes totaling 2,677.8 meters, two short di pole di pole IP lines and a gravity survey. Some of the analytical work on drill hole samples is still pending.

Gregory E. McKelvey, President of Animas Resources Ltd. commented: "When we first started at Santa Gertrudis, we acknowledged that the Santa Teresa Mining District was first explored as a tungsten district. While there remains considerable gold potential, it is a bit of a surprise to encounter an intrusive center with strong evidence of molybdenum potential. With the technical report due from Dr. Steininger, et. al. Animas will be in a good position to determine what might be the best way to evaluate this new occurrence."

Mr. Noble contracted for new NI 43-101 report:

Animas also has contracted Mr. Alan Noble P.E. to review and update several of the gold deposits at Santa Gertrudis to convert historic resources to NI 43-101 compliant resources. Dr. Hugh Miller is consolidating the information on the current state of heap leaching potential at Santa Gertrudis. We expect a revised NI 43-101 to result from Mr. Noble's work. The report from Dr. Miller will likely be used as the basis for Animas to decide the direction that the company may wish to consider such as a small scale gold production or vending / contracting a qualified party to mine some of the known gold deposits.

Ariel update:

Geologic mapping and sampling is currently in progress on the Ariel prospect, located approximately 44 kilometers east-southeast of the town of Nacozari, Sonora. Geologically the area is comprised of quartz-poor andesitic volcanics and overlying, more felsic tuffs. A very large alteration/mineralization system is present on the Ariel concessions and is approximately 4-5 kilometers in length (more or less in a north-south direction) and approximately 2-3 kilometers wide. The volcanic rocks within this zone of alteration/mineralization are strongly altered to pervasive clay-(±sericite?) and goethite-hematite after 2-5 percent disseminated > veinlet controlled pyrite. The Ariel alteration system is large and strong, and the current mapping and sampling should define the extent of the system and its mineral potential.