Animas Resources Ltd.

Animas Resources Ltd.

March 06, 2008 09:30 ET

Animas Resources Acquires the San Enrique and Greta Properties, Adds Additional Concessions, and Hires Firm to Prepare Form 20-F

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 6, 2008) - Animas Resources (TSX VENTURE:ANI) has acquired the San Enrique and Greta Properties from MetalQuest Minerals Inc. (TSX:MQ) ("MetalQuest"). The San Enrique and Greta Properties are comprised of 8,500 hectares of the southern-most portion of the Santa Teresa mining district. The acquisition now includes an additional 3,887 hectares within the area of influence that was held by the previous joint venture partners as a part of their former contract with MetalQuest.

These properties adjoin the Company's Santa Gertrudis Gold Project.

About San Enrique and Greta

The San Enrique and Greta Properties include the Greta portion comprising 954 hectares located nine kilometers southeast of the main past-producing gold properties at Santa Gertrudis. Several near-surface bulk tonnage potential gold occurrences were outlined by previous operators on the Greta property, including the La Gloria, Greta, Ontario, Tracy, and El Tigre.

The Greta property is also considered to have excellent potential for hosting deeper, high-grade Carlin-style mineralization due to the spatial coincidence of several favorable geological, structural, geochemical, and geophysical criteria, including:

- Proximal intrusive bodies, as indicated by the presence of aeromagnetic anomalies with coincident, regionally developed aureoles of quartz-pyrite hornfels, marble and skarn

- Substantial thicknesses (greater than 300 meters) of favorable stratigraphy

- Clearly-defined, high-angle potential feeder structures that intersect the favorable stratigraphic units near the intrusive bodies

- The presence of distal sedimentary rock-hosted, disseminated gold occurrences at the margins of the hornfels aureoles

- Strongly anomalous gold, arsenic, mercury, silver, and copper indicated by soil geochemistry

Historic Resources(1), Hamilton, 2003
Grams of Gold Contained Contained
Deposit Tonnes Per Tonne Au (grams) Au (ounces)
Greta/Ontario 894,856 1.97 1,762,866 56,677
Greta NE 186, 550 1.26 235,053 7,557
Tracy 245,064 3.58 877,329 28,207
Tracy N 94,575 1.62 153,212 4,926
El Tigre 230,889 1.6 369,422 11,877
La Gloria 442,196 2.8 1,237,707 39,793

(1) The historical estimates are based on internal reports prepared by
prior owners and as such have not been prepared in accordance with NI
43-101, thus their reliability has not been verified. The estimates
did not use resource or reserve categories accepted by the Canadian
Institute of Mining, Metallurgy and Petroleum ("CIM").

Gregory E. McKelvey, President of Animas Resources said, "We are indeed excited about the addition of both the historic resources and the exceptional untested gold potential in the San Enrique and Greta / La Gloria areas. Add these to the major project areas Animas is delineating at Corral, Berta, Dora, and Amelia, and we have no shortage of quality drill targets. As our target concepts continue to evolve, we anticipate identifying, prioritizing and testing all these areas for larger concentrations of precious metals."

The San Enrique area is represented by widespread quartz veining with strongly anomalous Cu-Mo mineralization coincident with a magnetic high centered over a dome feature with abundant granitic and lamprophyric intrusives, and roughly circular Au, Ag, Cu, Mo, and Zn soil geochemsitry anomalies.

Transaction Terms

Animas Resources will issue US $450,000 in common shares to MetalQuest to purchase a 100% interest in the property, subject to the TSX Venture Exchange's approval.

Animas hires firm to prepare form 20-F

Animas Resources has hired A.B. Korelin and Associates Inc. to assist the Company in filing their form 20-F with the SEC. The 20F allows the Company to communicate directly with potential investors in the USA.

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 447.14 square kilometer (172.64 square miles) land holding. The Company also controls the 274 square kilometer (113.78 square miles) Shirley exploration concession in the Bacanuchi area of Northern Mexico.

Gregory E. McKelvey, President & Director

This press release was reviewed by Dr. Roger C. Steininger, a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. 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 (available at 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.

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)