Animas Resources Ltd.
TSX VENTURE : ANI

Animas Resources Ltd.

June 14, 2010 16:45 ET

Animas Resources Reports a NI 43-101 Resource Estimate for Golden Arrow Project

- M&I Gold Resource of 296,500 Ounces of Gold at 0.024 opt Au

- M&I Silver Resource of 4 Million Ounces at 0.33 opt Ag

- Additional Inferred Ounces of Gold and Silver

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 14, 2010) - Animas Resources Ltd. (TSX VENTURE:ANI) ("Animas" or the "Company") is pleased to announce that it has now filed a NI 43-101-compliant Technical Resource Estimate Report on Sedar for the Golden Arrow gold project located in Nye County, Nevada dated June 9, 2010. This report was prepared by Mine Development Associates ("MDA") of Reno, Nevada and was authored by Mr. Steven Ristorcelli, CPG, of MDA, and Dr. Odin D. Christensen, CPG, as a consulting minerals geologist, both Qualified Persons as defined by Canadian National Instrument 43-101.

The Classified Mineral Resource report is quoted at a variable cut-off grade of 0.010 ounces gold per ton for oxidized material and 0.015 ounces gold per ton for non-oxidized material and consists of:

Classification Tons Gold grade (opt) Gold (ounces) Silver grade (opt) Silver (ounces)
Measured 1,850,000 0.028 52,400 0.43 796,000
Indicated 10,322,000 0.024 244,100 0.31 3,212,000
Measured plus Indicated 12,172,000 0.024 296,500 0.33 4,008,000
Inferred 3,790,000 0.013 50,400 0.33 1,249,000

Animas is currently in the process of earning a 51% interest in the Golden Arrow gold property by spending $3.5 million over three years, and a 51% interest in the Kinsley Mountain gold property by spending $1.5 million over three years. Animas is the operator of these two projects.

The resources were modeled and estimated using a geological interpretation provided by Nevada Sunrise Gold Corp. ("NEV"). Mineral domains were interpreted on NE-SW geological cross sections spaced at intervals varying at around 100 feet throughout the extent of the Golden Arrow mineralization. The mineral domain interpretations were then rectified to east-west cross sections spaced at 20-foot intervals. Estimation was done using inverse distance. Quality-control data generated by NEV during the 2008 drilling program were independently reviewed by MDA as part of the resource study. The Technical Report on the Golden Arrow Project dated June 9, 2010 can be found on Sedar at www.sedar.com, or on the Company's website at www.animasresources.com.

The Golden Arrow Property consists of 279 unpatented lode mining claims surrounding 17 patented lode mining claims covering a total area of 5,684 acres (2,300 hectares) located approximately 40 miles (60 km) east of Tonopah, Nevada. Certain claims are subject to an NSR.

The Golden Arrow deposit consists of two mineral centers called Hidden Hill and Gold Coin. The volcanic-rock-hosted gold-silver deposits include both low-sulfide high-angle quartz/gold veins and disseminated hot-springs-style gold mineralization. Mineralization is exposed at the surface at Gold Coin but Hidden Hill is covered by alluvium gravel.

Mineral Resources are not Reserves

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for minability, selectivity, mining loss and dilution. These mineral resource estimates are in the Measured, Indicated and Inferred mineral resource categories. These Inferred mineral resources are normally considered too speculative geologically for the application of economic considerations that would enable them to be categorized as mineral reserves; however they are allowed to be included in a preliminary economic assessment. There is also no certainty that the Inferred mineral resources will be converted to Measured and Indicated mineral resource categories through further drilling, or into mineral reserves once economic considerations are applied.

Quality Assurance

The mineral resource estimate was completed by Mr. Steven Ristorcelli, CPG, of MDA, and Dr. Odin D. Christensen, CPG, as a consulting minerals geologist, and is based on geological interpretations supplied by NEV to MDA and subsequently modified by MDA. Mr. Ristorcelli is an independent qualified person for the purposes of National Instrument 43-101 standards of disclosure for mineral projects of the Canadian Securities Administrators.

Exploration update at Golden Arrow and Kinsley Mountain , Nevada

Animas is currently completing a program of regional sampling, gravity surveying and mapping on Kinsley Mountain. At Golden Arrow, a drill-target definition program is underway to identify the most favorable targets for resource expansion and identification of new gold targets.

Exploration update at Santa Gertrudis, Mexico

The drilling program is continuing at the Santa Gertrudis gold project in northern Mexico with the 4th hole currently underway. Results from this drill program are expected to be released later this summer.

About Animas Resources Ltd.

Animas Resources Ltd., a North American mineral resource company, has consolidated the Santa Teresa District's Santa Gertrudis precious metal deposits and prospects within a 562 square kilometer land holding. Our mission is to grow Animas 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. Golden Arrow and Kinsley Mountain are the most recent additions to the Animas exploration property portfolio.

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 news releases at www.animasresources.com.

Gregory E. McKelvey, President & Director

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 and registration statement filed with the Canadian securities administrators (available at www.sedar.com). 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

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