VANCOUVER, Feb. 12 /CNW/ - CONSOLIDATED GOLD WIN VENTURES INC.
(CGW TSX-V, FRANKFURT - OUH, PINKSHEETS - CGWVF) is pleased to announce it has
completed its initial analysis of the Mobile Metal Ions (MMI) surveying
completed over the Dolly Varden claims in the area of the initial discovery
hole of 2006.
The MMI survey is used to target directly anomalous metallic
mineralization that is buried. To date this has identified anomalous results
associated with the initial drill hole that intersected 75 feet of 0.65%
copper and that was associated with over 3000 feet of anomalous 3-D IP
surveying. Adjacent lines of MMI surveying have indicated that the anomalous
results can be traced in association with the 3-D IP trend identified
previously. Further surveying to refine this trend and target the deeper
drilling targets is anticipated.
The company consultants have integrated the analysis of the 3-D Induced
Polarization, the aeromagnetic survey data and the geological information from
drilling and exploration successfully completed throughout 2006 and 2007. The
results of this extensive work have provided the basis for the conclusion of
the following particulars:
1. The wide zone of sulphide mineralization and especially the copper
mineralization intersected in DV-06-03 represents the distal veins
associated with a buried porphyry intrusive that is part of the model of
large scale copper porphyry mineralization found in eastern Nevada and
Utah that is associated with large resources such as that located at Ely,
Nevada (Quadra's Robinson mine) to the south and at Salt Lake City, Utah
(Kennecott's Bingham Canyon mine) to the east.
2. The widespread extent of sulphide throughout this area and in all
directions, although mainly iron, reflects a model of the source of
mineralization as a large system and a position in that system in the
pyritic halo of the intrusive.
3. The "buried" porphyry intrusive that was intersected in Drill hole
DV-07-11 and again in Drill Hole DV-07-15 containing 1-4% pyrite and
anomalous copper and gold values, is very similar in composition to that
located adjacent to the northwest of the Anaconda Victoria Mine which
produced over 40 million pounds of copper. The buried intrusive on CGW's
Dolly property has more sulphides and alteration associated with it than
its counterpart approx. 3 miles to the west.
4. Geological mapping suggests the limestones and other rocks associated
with the Dolly property are similarly altered as those associated with
the Victoria Mine to the West. On a more local scale, the pyritic zones
seen in almost every drill hole on the Dolly property are visible in the
surrounding rock outcrops at the Victoria Mine.
5. The aeromagnetics, deeper 3-D IP and the analysis of the
mineralization encountered in drilling to date is convincing that a
deeper drilling program could reveal a source of the mineralization.
This continuation of exploration in this area, the first since the early
1980's at the close of mining of the nearby Victoria Mine, has identified a
large geologic system that is known to be associated with several important
CGW has drill permitted an additional 10 areas on the Dolly Property as
well as 10 areas on the Victoria Mine property. Continuing drill hole
discovery success at both properties is anticipated for CGW in the 2008
The Dolly Varden area is recognized as a classic eastern Great Basin
district with base and precious metals associated with upper Palaeozoic
sediments intruded by Cretaceous auriferous magmas.
Due to regulatory and intra-company discussions, the company has decided
not to proceed with the previously announced financing of flow through and
common share units.
William Timmins, P.Eng, a Qualified Person under National Instrument
43-101, has approved the contents of this News Release.
About Consolidated Gold Win Ventures
CGW is a progressive and rapidly advancing junior exploration company
with interests in Nevada - Dolly Varden Copper Gold claims and the Victoria
Copper Mine, British Columbia - Yeti Gold claims, North West Territories -
Drybones Diamond properties, Quebec - Raglan Platinum Group Metal claims.
We seek safe Harbor
For further information:
For further information: Shareholder Relations: (778) 994-6453, Abby
Farrage: (604) 671-4718; Email: email@example.com, Web site: www.v-cgw.com;
Souhail 'Abby' Abi-Farrage - President and Director, Consolidated Gold Win
Ventures Inc., P.O. Box 48474, Bentall Centre, Vancouver, BC, V5C 2M7