Animas Resources Ltd.
TSX VENTURE : ANI

Animas Resources Ltd.

October 02, 2007 09:15 ET

Animas Resources Update on Project Development and Corporate Activities

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 2, 2007) - Animas Resources (TSX VENTURE:ANI) (the "Company") is pleased to provide an update on corporate and project development activities.

Project History

Animas Resources recently consolidated the extensive Sonora Gold and Sonora Copper LLC holdings in the Santa Teresa mining district. These include the past producing Santa Gertrudis and Amelia gold deposits and prospects within our 125 square mile land holding. Santa Gertrudis ore deposits produced 564,000 ounces of gold at an average grade of 2.13 grams per ton from a mine commissioned to start with 1.2 million ounces. The Amelia mine reportedly produced more than 150,000 ounces at grades said to be higher than Santa Gertrudis. Known mineralization extends under post-mineral gravel cover and is open at depth. Past production and exploration were limited to oxide ores amenable to heap leaching. Animas Resources also has the water rights and the wells used for the past production from the properties.

To date, Animas Resources has recovered from older archives over 1,300 drill holes complete with assays and geology, a wide range of geophysical data including IP, airborne EM, Radiometrics, magnetics, and Aster imaging, an impressive inventory of Auto Cad drawings, and a wealth of Data Mine files. This large amount of date is very useful in identifying the drill targets which are being prepared for the next level of potential resource estimations.

Project Development Update

- John Wilson, Animas Resources' Vice President of Exploration, John Reynolds, who leads Animas Resources geophysical team, and Alberto Navaro, Animas Resources' Mexican geological consultant, are in the field compiling and using the data to develop new targets. New ideas have led to an in-depth review of the existing data from the geologic, geochemical, and geophysical data to both identify targets and better focus the anticipated geophysical and geochemical surveys planned for the fall, to be followed up by drill testing. A list of potential targets is being compiled.

- Animas Resources has engaged Mine Development Associates ("MDA") of Reno, Nevada to assist the Company in the data verification and to continue resource estimates as the Company adds new information. MDA was formed in 1987 as a full-service mine engineering company. Their staff and specialized associates offer an expanse of knowledge encompassing every aspect of mining, from original prospect through feasibility and project development and into production.

- The former mine manager's staff housing are 90% renovated to accommodate the planned expanded geologic and geophysical crews slated to start in the fall. Four of the six 2 and 3 bedroom houses will be ready for these crews.

- Dr. Steve Reynolds of Arizona State University, and a master's student, Jeff Geier, have started focused field studies to define and understand the complex relationship of structure as related to gold mineralization. To date, all the identifiable major structures appear to pre-date gold mineralization. Animas Resources anticipates these studies to lead to better and faster target identification.

- Preliminary reviews of the historic blast hole grade information, rapid pit review, and visits by several gold experts, including Dr. Odin Christensen, Dr. Steven Reynolds, and Dr. Donald Ranta, appear to confirm the observations of VP John Wilson that the known gold mineralization is strongly controlled by major feeder-like through-going structures that may well expand the closer-to-surface potential for higher grade gold-bearing sulfide deposits and near-surface oxide deposits under post-mineral cover.

- Strategic and tactical planning resulting from a comprehensive field review sets the plans and objectives to advance the +70 potential target areas being identified resulting from the use of the existing data to rank in seriatum order the best targets and focus field investigation to refine and define the best drill targets. 40% of the field effort is focused on expanding resources from the known occurrences, 40% on new targets between deposits and under shallow cover, and 20% on developing new targets within the district.

- Animas Resources, through its Mexican company Minera Chuqui, has also secured all the necessary surface access agreements from the local ejido and ranchers, permitting the Company to complete geologic and geophysical surveys throughout the district.

As Animas Resources further defines these targets, the Company will update shareholders through press releases and updated maps and documents on the Company's website.

Animas Resources' goals are to discover, verify, quantify, and estimate new 43-101 compliant resources in the least amount of time and at the lowest cost possible. Infill drilling is only contemplated when necessary to confirm new ore targeting concepts or where critical historic data is missing. To accomplish this, the Company is focusing its efforts to understand the geologic-genetic controls for gold mineralization in the district including limited remapping, focus on the structural setting, and the wise application of geophysical and geochemical studies. The Company believes that ground geophysics will assist in the identification of both near surface hidden targets and the deeper targets.

About Animas Resources

Animas Resources, 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 125 square mile land holding. The Company also has an option to acquire the Shirley exploration concession in the Bacanuchi area of Northern Mexico.

For additional information, contact Animas Resources Ltd. at 604-687-6197 or visit our web site at www.animasresources.com.

Gregory E. McKelvey, President & Director

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Animas Resources Ltd.
    Gregory E. McKelvey
    President & Director
    (604) 687-6197
    (604) 688-3392 (FAX)
    Website: www.animasresources.com