| American International Ventures Announces Commencement of
Core Drilling Program at the Bruner Property, Nevada.
EVERGREEN, CO, May 25, 2006
(MARKET WIRE) – American International Ventures Inc. (OTCBB:
AIVN) is pleased to announce that a program of diamond core
drilling has begun at its Bruner Gold Property, Nye County,
Nevada. The present drilling program is being conducted by
AIVN’s Joint Venture partner Cougar Gold LLC (a subsidiary of
Electrum Resources, LLC).
Core drilling commenced on Thursday the 25th of May, under the
direction of Cougar Chief Geologist Larry Buchanan and geologist
Ken Brook. Mr. Buchanan indicates that the drilling program will
consist of not less than 12 to 15 drill holes to a nominal depth
of 200 to 300 meters, for a minimum of approximately 2,400
meters of drilling. Although prior drilling on the properties
has indicated potential for possible low-grade disseminated gold
resources, the objective of the current drilling program is to
identify high grade zones contained within the known
gold-bearing structures, and particularly at the intersections
of these favorable structures.
The geological team at Cougar has studied extensively the zoning
of gold within epithermal quartz vein systems such as those
found at Bruner, and see a number of key similarities between
the veins at Bruner, and the high grade gold veins of the Ken
Snyder vein system at Midas, Nevada, now being mined by Newmont.
In 2005, Mr. Buchanan directed Ken Brook to conduct a detailed
review of the Bruner mineral system. Mr. Brook’s study revealed
a number of similarities between Bruner and the Midas Gold
mineral system at the Ken Snyder Mine. Most importantly, Mr.
Brook’s report documented the following:
-
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 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 deposited 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/tone, 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.
The Bruner properties of AIVN consist of 28 patented claims totaling
560 acres, and 134 unpatented claims totaling approximately 2,680
acres, for a total land package of approximately 3,240 acres. The
property contains several inactive high-grade gold mines and
prospects developed on gold-bearing quartz veins and breccia
structures hosted in Tertiary age volcanic rocks. Historical
production from these mines is estimated at 55,600 ounces of gold
from approximately 99,625 tons of ore, for an average recovered
grade of approximately 0.56 oz gold/ton.
Cougar’s parent entity, Electrum Resources LLC, entered into a Joint
Venture with AIVN on the Bruner Project in September of 2005, and is
committed to spend at least $250,000 in the first year of the
agreement. If Cougar/Electrum spends a minimum of $3,000,000 on the
property in the first three years of the Agreement, it can elect to
receive a 65% interest in the property. Cougar/Electrum can also
earn an additional 10% by successfully completing, at its expense, a
positive bankable feasibility study.
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, are 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, and 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 general risks
associated with exploring for precious metals, including the
inability to conclusively establish commercial reserves, the
possible downturn of the price of gold, inability to raise
additional funds, inability of industry partners to accomplish
anticipated efforts and the inability to obtain attractive
properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
Myron A. Goldstein, Chairman/CFO
Steven R. Davis, President/CEO
American International Ventures, Inc.
4058 Histead Way
Evergreen, CO 80439
Phone: 303-670-7378
Facsimile: 303-674-4766
www.aivnotc.com
Copyright Market Wire 2006
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