Message #2 From:
NewsBot Date: November 28, 2005 07:47:00 AM
AIVN News American International Ventures, Inc. Provides Geological Insight Into Proposed Exploration of its Bruner Claims
EVERGREEN, Colo.--(BUSINESS WIRE)--Nov. 28, 2005--As earlier announced, American International Ventures Inc. (AIVN)(AIVN-OTCBB) has entered into a joint-venture agreement with Electrum Resources, LLC (Electrum) for the exploration and potential development of the Company's Bruner property located in central Nevada. The Company's mining executives recognized Electrum's expertise in exploring for precious-metal vein deposits and contacted Electrum with respect to its Bruner property.
Mr. Ken Brook, a geological mining consultant for Electrum has written the following regarding Electrum's appraisal of the geology and exploration potential for the Bruner property.
"Historic production from the Bruner District has been from erratically distributed mineralization occurring in near-surface breccia zones, and Electrum plans to focus its exploration efforts on deeper, higher-grade vein targets similar to Newmont's Ken Snyder Mine at Midas, Nevada. In 2003, Newmont published reserves for Ken Snyder of 3,400,000 tons at a gold-equivalent grade of 0.58 oz/ton.
AIVN's Bruner property is located in the Paradise Range northeast of Gabbs, Nevada and is within the Walker Lane structural belt. The property originally consisted of 28 patented claims covering 560 acres and 41 unpatented claims covering 820 acres. Recently, an additional 67 unpatented claims were staked covering 1340 acres. Initial discovery of the gold on the property was in 1906 at the Paymaster Mine, and additional discoveries were made at the Duluth, Black Mule and Penelas mines. The Penelas mine is credited with producing just over 80,000 tons of ore averaging 0.321 oz Au/ton and 1.476 oz Ag/ton.
Since 1978, a number of companies including Kennecott, Newmont, Glamis Gold and Miramar Mining have explored the property for its shallow open-pit potential. Data from these exploration programs include geophysical surveys, geologic mapping, geochemical sampling and logs and assays for 176 reverse circulation and 15 core holes. Assay values from past drilling indicate there are a number of veins on the property that have the potential to host a high-grade gold deposit. Significant intercepts selected from previous drilling include the following:
The above data reflect the results from a limited number of drill holes that have been conducted on the Bruner property. These results are not indicative of commercially exploitable mineral deposits thereon. Neither the Company nor Electrum can predict if commercially exploitable mineral deposits or reserves exist on the Bruner mining claims until appropriate exploratory work is performed and an economic evaluation based on such work concludes such economic feasibility.
The Bruner District hosts mines belonging to a "Class" of ore deposits which are described as Tertiary-age, volcanic-hosted, low-sulfidation, structurally-controlled, gold-silver vein deposits. This type of ore deposit has become one of the principal exploration targets in Nevada after the discovery of high-grade feeder veins beneath some of Nevada's open-pit gold mines, and the discovery of the very high-grade vein system at Newmont's Ken Snyder Mine at the northwest end of the Carlin trend. All vein deposits are formed by hot, metal- bearing fluids traveling along open fractures and rising toward the earth's surface. As these fluids rise to higher elevations, they encounter zones of decreasing temperature and pressure conditions. At a certain elevation, decreases in the zone's temperature and, more importantly, pressure conditions cause the rising fluids to boil and deposit gold and silver in banded quartz veins. Below this gold deposition zone, copper, lead and zinc are deposited. Above the gold deposition zone, arsenic, antimony and mercury are deposited, and if the fluids reach the earth's surface, a hot spring is formed.
The geologic environment at the Ken Snyder Mine and the Bruner district are very similar, and the following characteristics, which control or are related to gold deposition, are shared by both properties.
-- Age - both deposits are hosted by Miocene (15 million year-old) volcanic rocks;
-- Structure - veins are controlled by northerly to northwesterly-trending fault zones;
-- Ore bodies - banded quartz veins occurring in elevation-related boiling zones. At the Ken Snyder Mine, historic mine workings were at an elevation of 6,250 feet, and the main gold zone comprising well developed, banded quartz veins did not occur above an elevation of 5,700 feet. It is expected that the favorable elevation at the Bruner will be around the 6000' level. Generally, the surface is around 6500' to 6800', and the target depth for drilling will be between the 6000' and 5750' level.
-- Ore zone control - elevation-controlled boiling zones depositing banded, gold and silver quartz veins into open spaces along the fault zones and at fault zone intersections.
-- Surface expression of the ore zone - At Ken Snyder, structurally controlled zones of erratic gold mineralization in silicified, iron oxide-stained breccias in rhyolite were found. These breccias are well above the main gold deposition zone, and no banded quartz veins are found at the surface. At one Bruner site, a 6-10 centimeter-wide, banded quartz vein was found which contained 111.0 grams/tonne, gold. These assays have not been verified and do not imply any notion of commercial resources or reserves. The results only indicate the presence of gold in unascertained amounts in the Bruner system.
-- Surface gold values -small pods of 0.25 - 0.40 oz Au/ton material, but generally the breccia zones contain 100 - 200 parts per billion gold.
Electrum's drilling program will target the intersections of major, northwesterly-trending faults and the northerly-trending, silicified, gold-bearing, breccia zones explored by the Duluth, Black Mule and Penelas workings. These deeper targets have the potential to host banded quartz veins with gold and silver values comparable to the Ken Snyder Mine."
Electrum has informed the Company that it intends to commence the drilling of 10 to 15 holes to depths greater than 500 feet as soon as an appropriate drilling rig is secured.
FORWARD-LOOKING STATEMENTS: 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, Inc. 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, Inc. expectations are geological risks, the down turn of the price of gold, inability to raise additional funds and also, the inability to obtain attractive properties.
