June 10, 2010
Cons. Spire Ventures announces 2010 Field Program on the Prospective Lithium Project at Fox Creek, Alberta
Consolidated Spire Ventures Ltd. (“the Company” or “Spire”) is pleased to report that exploration personnel have been mobilized to begin reconnaissance fieldwork at the 164,072-contiguous-acre property, prospective for lithium, located about 35km west of Fox Creek, Alberta within the Devonian Leduc Formation. The current fieldwork program, in conjunction with numerous producing gas wells and other infrastructure near the property that are already producing significant amounts of formation waters from the targeted horizons, could indicate that significant potential exists on the property to yield brines with lithium.
Lithium and other mineralization is contained in formation waters that are currently being extracted along with oil and/or gas by various energy companies sharing the property with Spire. The Company holds the rights to the lithium and other mineralization, while the various operators own the oil & gas rights. Based upon the concentrations of lithium in formation waters in the Leduc aquifers, further exploration could be warranted for lithium-bearing brines underlying the property.
Brian Buchanan, President of Spire stated: "We are very pleased that the fieldwork program has commenced on the property. As lithium is experiencing rapidly increasing demand for use in technologically and environmentally beneficial applications, in particular, rechargeable lithium-ion batteries for use in hybrid and electric cars, management is very optimistic about what the future potential for lithium contained in the formation waters could provide."
Spire has a 100% interest in the Fox Creek Lithium Property in an area outlined by the Alberta Research Council and Alberta Geological Survey as having potential for a large resource of lithium within the formation waters.
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FOR INFORMATION OR INVESTOR RELATIONS,
CONTACT THE COMPANY AT (604) 662-7455 or WEBSITE: www.spireventures.com
ON BEHALF OF THE BOARD,
Brian Buchanan, President and Director
This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
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