VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2012) - American Consolidated Minerals Corporation (TSX VENTURE:AJC) (the "Company") is pleased to report assay results from six core holes completed in the San Rafael Zone at its Sierra Rosario silver-gold project, located in Sinaloa State, Mexico.
During the month of June, six diamond drill holes totaling 1392.15 metres were drilled by International Northair Mines Ltd. (TSX VENTURE:INM) ("Northair"), the Project Operator, which is also the Company's 50% joint venture partner. The drilling targeted the northwestern section of a coincident induced polarization geophysical anomaly and silver/gold geochemical soil anomaly. The holes were designed to test approximately one-third of the coincident anomalies as well as a small portion of the test area that had returned encouraging silver and gold values from surface trenching.
The most significant drill results were obtained in Hole SR-003 where a 7.5 metre interval returned 179.3 g/t silver and 0.287g/t gold and a 4.9 metre interval yielded 66.7 g/t silver and 0.614g/t gold. In Hole SR-005, located approximately 400 metres to the southeast of Hole SR-003, a 3.35 metre interval returned 84.1 g/t silver, 0.102 g/t gold and 1.59% lead.
||No significant intervals
Commenting on the drill results, Al Fabbro, President & CEO said: "There could be a continuous and correlatable zone of mineralization intersected in Holes 2, 3 and 5 (appear to be along strike from each other) which is from 3 metres(Hole 5) to 20 metres wide(Hole 5) (core lengths) containing significant silver and lead - zinc mineralization. Such wide zones of silver and lead - zinc have been the bread and butter of the Mexican mining world for 500 years. We are excited at the prospect of these minerals being present at Sierra Rosario as well."
Coincident with the drill program, a follow-up geochemical soil sampling program was completed at the property. This program was designed to extend the initial soil sampling grid to the south and to the northeast to better define the limits of an open-ended silver / gold soil anomaly measuring 1,400 metres in length and up to 1,300 metres wide at its southeastern end. Three lines were added to the grid southeast with no significant results obtained. However, the previous lines that were extended to the northeast did expand the existing gold and silver soil anomalies. The Company and its joint venture partner are presently evaluating the drill results and other geological data in order to assess further work on the property.
Sampling and QA/QC
All technical information for the Sierra Rosario exploration program is obtained and reported under a formal quality assurance and quality control (QA/QC) program. Samples are taken under the direction of qualified geologists and stored in sealed bags. Samples are delivered by the Company via courier to ALS Minerals ("ALS") in Chihuahua. The samples are dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS to Vancouver B.C. to Vancouver B.C. Systematic assaying of standards and blanks are performed for precision and accuracy. Analysis for silver, zinc, lead and copper and related trace elements was done by ICP four acid digestion, with gold analysis by 30 gram fire assay with an AA finish.
This news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and approved by Fred Hewett, Northair's President and CEO, and a Qualified Person under NI 43-101.
American Consolidated is dedicated to the principles of environmentally sound mining practices and believes that environmental stewardship and mining can co-exist.
For details on the Company and its properties, visit the Company's website at www.americanconsolidatedminerals.com.
ON BEHALF OF THE BOARD:
Al Fabbro, President, CEO & Director
Neither the 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.