American International Ventures Inc. Expands Gold Exploration Property in Idaho.WANTAGE, N.J. -- American International Ventures Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AIVN) announces that it has expanded its Sage Creek gold exploration property by staking additional claims contiguous Adjacent or touching. Contrast with fragmentation. See contiguous file. to its recently acquired claims. In December 2004, the Company entered into an option agreement to acquire 10 unpatented mining claims comprising approximately 200 acres. The property, which is located in the Salmon National Forest in Lemhi County, Idaho Lemhi County is a county located in the U.S. state of Idaho. The county was established in 1869. It was named after Fort Lemhi. As of the 2000 Census the county had a population of 7,806 (2005 estimate: 7,909) [1]. The county seat is Salmon6. , now consists of unpatented claims totaling approximately 350 acres. The property is adjacent to the Ulysses mine, which produced 90,000 tons averaging 0.33 ounce per ton containing 30,000 ounces of gold in the early part of the twentieth century. The mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. at the Ulysses mine was reported to occur as a tabular tab·u·lar adj. 1. Having a plane surface; flat. 2. Organized as a table or list. 3. Calculated by means of a table. tabular resembling a table. lode, which is currently interpreted to be a stratiform stratiform /strat·i·form/ (-form) having a layered structure. stratiform occurring in layers. , oxide-phase, banded iron formation Banded iron formations (also known as banded ironstone formations or BIFs) are a distinctive type of rock often found in primordial sedimentary rocks. The structures consist of repeated thin layers of iron oxides, either magnetite or hematite, alternating with bands ("BIF BIF In currencies, this is the abbreviation for the Burundi Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ") of Proterozoic (Precambrian) age. This occurrence is geologically similar to the well-known copper-cobalt deposits at the Blackbird blackbird, common name in North America of a perching bird allied to the bobolink, the meadow lark, the oriole, and the grackle and belonging to the family Icteridae. The European blackbird, Turdus merula, is a thrush. mining district located about 30 miles to the south. However, in contrast to the Blackbird deposits, the mineralization at Sage Creek appears to be low in base metals and high in gold values. There are very few outcrops exposed on the property, but the presence of gold-bearing rock fragments over a large surface area suggests that one or more mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. horizons occur close to surface. The Company recently collected the following reconnaissance samples from rocks found at the surface on the claims.
Sample Au Ag
Number (oz/ton) (oz/ton) Description
--------- --------- -------- --------------------------------------
SC 1 0.214 0.403 Oxidized "BIF" material with abundant
limonite in old trench located in the
southeast portion of the claim block.
SC 2 0.017 0.078 Oxidized "BIF material with weak
limonite in road cut approximately
100 feet west of the location of
sample SC 1.
SC 3 0.570 0.232 Oxidized "BIF" material with abundant
limonite collected from the dump of
a small adit located approximately
1,300 feet west-northwest of the
location of SC 1.
SC 4 0.012 0.010 Quartz vein fragments collected from
same dump as sample SC 3.
SC 5 0.732 0.244 Oxidized "BIF" with abundant limonite
in road cut approximately 1,700 feet
north-northwest of the location of
SC 3 and 2,700 feet northwest of the
location of SC 1.
SC 6 0.026 0.275 Oxidized "BIF" with moderate limonite
in old prospect pits approximately
800 feet west of SC 5 and 2,400
feet north-northwest of SC 1.
SC 7A 0.267 0.735 Vuggy silica near location of sample
SC 6.
All of the samples reported above were collected by the Company, and the values are consistent with the results obtained from sampling reported by previous owners or lessors of the property according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. technical data in the Company's files. The samples, which typically consisted of five to seven pounds of rock fragments collected on the surface or on dumps DUMPS a lethal inherited disorder of Holstein cattle that causes infertility. The name is an acronym of Deficiency of Uridine MonoPhosphate S from old workings or prospect pits, were analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. by American Assay Laboratories in Reno using fire assays with a gravimetric gravimetric /grav·i·met·ric/ (grav?i-me´trik) pertaining to measurement by weight; performed by weight, as a gravimetric method of drug assay. grav·i·met·ric adj. 1. finish for gold. The samples are preliminary and strictly of a reconnaissance nature. The sample values indicate the presence of elevated levels of gold over a large area, but the samples were not taken across the mineralized horizon. Therefore these samples do not represent a quantitative measurement of the gold content of the mineralized horizon, nor should the results be interpreted to indicate that gold mineralization is present in a quantity and grade that would represent an economically viable ore deposit. Substantial additional geological and engineering work would have to be completed to confirm the presence of proven or probable reserves that meet SEC standards, and no assurance can be given that any such reserves will eventually be defined. Exploration has been conducted in the general area over the past twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. for other types of gold occurrences, but the BIF horizon has never been targeted for drilling on the property. The Company is planning to conduct geological mapping and sampling and a ground-based magnetic survey over the area as soon as possible, and the ground magnetic survey will be followed up by trenching in order to define drilling targets. Trenching and drilling will be subject to obtaining permits from the U.S. Forest Service and also to obtaining financing. The area covered by the claims has been logged for timber in the past, and the old logging roads provide excellent access to all of the property. AIVN is an exploration stage company that is focused on the acquisition, exploration and development of gold projects. In addition to the Sage Creek property, the Company owns the Bruner gold exploration property, which is located in Nye County Nevada in a region known as the Walker Lane gold belt, 125 miles east-southeast of Reno, Nevada. FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding potential mineralization, resources and reserves, and development results, and the future plans and objectives of American International Ventures while forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate in actual results of future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from American International Ventures expectations are the down turn of the price of gold, inability to raise additional funds and also, the inability to obtain attractive properties. |
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