Company Message from Michael Mulberry and Abby Farrage to Shareholders
The company is now trading under the symbol GWV on the venture exchange, CGWJF on the US Pink Sheets and OUH1 on the Frankfurt Exchange.
The proposed consolidation and other re-structuring changes recently undertaken were made public in the circular sent out to all registered shareholders in advance of the AGM which took place on April 1 2008.
The company decided on this restructuring primarily to advance its goals more effectively in the development of the Victoria Mine Property and further exploration and delineation of the adjacent Dolly Varden Claims as well as protecting its other corporate interests in North America.
There will be continuing news releases, updates and shareholder information bulletins regarding landmarks made as we move forward with these projects and in particular the National Instrument 43-101 resource estimate for the Victoria Mine being undertaken on behalf of the company.
On a personal note I would like to thank the tireless efforts of Mr. Abby Farrage in enabling the company to survive through very difficult times. Abby has always envisioned Consolidated Gold Win Ventures as a high asset value company – small, powerful and mobile.
Needless to say, we are very encouraged with the advances we have made at Victoria and Dolly and with the current stage of development at these properties. Despite the recent turbulent times we have seen in the market, we feel that the outlook for metals and importantly copper, will continue to remain strong.
Consumption rates of raw resources are growing globally year over year. The supply of metals is becoming ever more tightened. With the increasing GDP’s of China now pegged at 10.4% and India with between 8 and 10% annually, we feel GWV is positioned appropriately to capitalize on these strong trends.
With copper prices at all time highs and many analysts predicting metals prices to advance even higher, we believe the Victoria Mine will provide a positive income stream for GWV in the years ahead and present an attractive target for a major acquisition.
We appreciate your support and patience through this time.
Regards,
Michael Mulberry
Abby Farrage
CORPORATE UPDATE AND REPORT ON CURRENT ACTIVITIES
May 14 2008
THE VICTORIA MINE
GWV has recently announced a $1,500,000 private placement (see news release dated May 7 2008) to provide interim financing for the company to conduct further drilling at the Dolly Varden property and to finance additional drilling at the Victoria Mine in conjunction with the NI43-101 report currently being prepared to assess the resource value at Victoria.
In addition to a 10% interest in all underground and future exploited ore at Victoria, GWV has an agreement with Kokanee Placer for a 50% split of profits from the sale of stockpiled ore left on surface at the previously active Victoria Mine site by Anaconda Mining Co. in the late 1970’s and Day Mining in 1981 when operations at the Victoria Mine were ceased.
Anaconda Mining determined that the underground ore reserves, at the time of initial production, amounted to approx. 2.425 million tons at a grade of 2.42% copper and 0.59 oz. per ton silver, using a cut off grade of just under 2% Cu. A total of about 700,000 tons of ore from its open pit and an additional 206,000 tons underground were extracted at a millhead grade of 2.03% copper when operations ceased.
Anaconda calculated a remaining resource of approximately 1.4 million tons at a grade of 2.39% copper and 0.35 oz. per ton silver between the 7110 level to the 6786 level using the Anaconda cut off grade of just under 2%.
A further estimate of 2.4 million tons was made on mineralization down to the 6200 level reportedly at the same grade as the mined ore found between the 7110 and 6786 levels.
A minimum estimated resource of 3.8 Million tons using a cut off grade of just under 2% Cu. remains at the Victoria Mine. The indicated remaining mineral resource is a calculated resource based on estimates made by the Anaconda Mining Company.
These estimates formed the basis of their mining operations and what they and Day Mining, who operated the mine briefly in 1981, extracted. Anaconda ceased production at the 7110 elevation, in August of 1977 because of low copper prices.
GWV plans to re-open the mine and proceed rapidly to production within a year. The company hopes to be generating a positive cash flow from the Victoria mining operations by the second half of 2008.
ALTHOUGH ANACONDA MINING COMPANY CARRIED OUT COMMERCIAL MINING OPERATIONS AT THE VICTORIA MINE, NO VERIFICATION OF THIS RESOURCE HAS BEEN DONE TO THE AUTHOR’S KNOWLEDGE SINCE 1981. IT IS BASED ON ANACONDA MINING COMPANY RECORDS AND THE AUTHOR’S CALCULATIONS. IT IS NOT 43-101 COMPLIANT AND THEREFORE SHOULD NOT BE RELIED UPON. CONSOLIDATED GOLD WIN VENTURES IS CURRENTLY TAKING THE NECESSARY STEPS REQUIRED TO BRING THE RESOURCE ESTIMATES CONTAINED HEREIN INTO COMPLIANCE WITH CURRENT REGULATORY STANDARDS.
THE DOLLY VARDEN PROPERTIES
Located just 75 miles south of the Victoria Mine and the Dolly Varden properties is Quadra Mining Co.’s huge Robinson mine which in 2005, produced 126 million lbs. copper and 81,000 oz gold at grades of 0.6% Cu and 0.25 g/t Au.
100 miles to the east is the world’s third largest mine and the largest copper/gold mine in the United States at Bingham Canyon in neighboring Utah which has produced more than 16 million tonnes of copper since operations began in 1904.
It is worth mentioning that both the Robinson and Bingham mines are profitably mining grades of 0.6% copper which is the copper grade discovered in over 75 feet of core at GWV’s Dolly Varden property while the Victoria Mine has proven grades of more than 2% copper. Clearly, this region is host to large economic deposits.
GWV has completed 15 holes in Phase One of their ongoing exploration program at the Dolly Varden Copper/Gold properties. The Phase One program intersected significant Copper mineralization in every hole in an area covering approx. 5 sq. km. In the very first ‘discovery hole’ drilled on the property in Dec 2006 an intersection of 75 feet of .66% Copper was encountered.
GWV’s Dolly Varden property revealed surface samples of up to:
• Copper – 9.34 per cent
• Gold – 4.27g/t
• Silver – 33.57 ounces per tonne
• Zinc – 20.2 per cent
• Molybdenum – 0.135%
• Uranium – 0.19%
A Porphyry system has been suggested as the host body for the discovery, the source of which is the focus of exploration efforts currently ongoing at the Dolly Varden area properties by GWV and two other companies.
A second phase of drilling is planned at Dolly Varden for spring/summer of 2008 to follow up on the excellent results achieved through the first phase of drilling.
YETI GOLD PROPERTY
Located in the productive Stikine Terrane in Northwestern British Columbia, Canada, 50 km south of the Telegraph Creek mining area, GWV’s exciting Yeti Gold property will be the focus of further exploration in 2008.
GWV acquired properties in the region in the mid 1990s, the area noted for
discoveries like Eskay Creek and many other mines and deposits found within the last 20 years.
Work done in the mid to late 1990’s uncovered significant gold and copper mineralization on the property (74 grams per tonne gold in grab samples in the known veins) that has never been followed up by drilling. Minor geophysical surveying completed during that time suggested an intimate relationship of the anomalies and the rich gold and copper veins.
The Yeti Claim Group claims (GWV acquired an option to earn an interest in 8 units) are located in the Liard Mining Division of British Columbia. A large contiguous land package with multiple copper-gold showings, the property has is a minimum of six alteration zones/quartz vein systems and four separate ore bodies known at the present time.
Early sampling has revealed up to 14.9 ounces of gold per ton.
Stikine River Area Reports Over 1 Billion Tonnes of Mineral Reserves. The Stikine River area was first explored for placer gold in the 1860's, and in the latter part of that century an estimated 1800 oz. of gold was removed. Considerable exploration activity then took placed in the early part of the 20th century, resulting in the discoveries of Galore Creek (porphyry copper - gold) deposit; the Schaft Creek deposit (porphyry copper - molybdenum - gold) deposit and the Johnny Mountain deposit.
Add to that the more recent discovery at Copper Canyon and the area has in excess of one billion tonnes of mineral reserves, all in close proximity to the Yeti claims.
Retreat of glaciers continues to expose new tracts of highly prospective ground. The geology is highly prospective for porphyry and massive sulphide deposits, mesothermal and epithermal veins, and skarn mineralization. There has been minimal historic exploration conducted to date and the ongoing retreat of glaciers continues to expose new tracts of highly prospective ground in areas that previously reported mineralization and anomalous stream samples.
The geology shows stuhini volcanics with adjacent felsic intrusives on the Yeti Property - similar to the zones hosting the Galore Creek deposit and the other Stikine River Deposits.
Drill targets have been identified on this gold property and work will commence in due course.
DIAMOND PROPERTIES
GWV is the only company to have been approved for permitting in the region and is actively engaged in diamond exploration in Canada’s Northwest
Territories, within the South Slave craton which hosts all the currently producing Canadian diamond mines.
The knowledge garnered from GWV’s earnest efforts at Mud Lake can only benefit the Company’s continued diamond exploration which is now focused on the 21 claims that it wholly owns: the FC claims, the Moose Claims, the Cleft, JJ and ZZL claims.
Since kimberlites are known to occur in clusters—and the Drybones Bay area has three diamondiferous kimberlites identified in the only three kimberlites found to date in the area—the company’s 21 properties offer a unique opportunity to evaluate the potential of the remaining area.
GWV has developed an exploration model to thoroughly test these zones, and will be sampling, and drilling the properties when appropriate.
RAGLAN NICKEL/PLATINUM PROPERTY
GWV has optioned properties in the northern Ungava Peninsula area of Quebec, along strike and in similar geological terrain of the operating Raglan Mine of Falconbridge Inc. Located in the area known as the Raglan— to the southeast, southwest and west of the operating Raglan Mine— the properties cover 2840 acres and sit on 2 out of 3 trends of high grade nickel and copper and platinum.
Sporadic exploration prior to 1970's until Falconbridge’s $225 million development in 1998.
Initially discovered in the 1950's, the area has only been explored sporadically since the 1970's. However, in 1998, Falconbridge commissioned the development of its Raglan mine at a cost of over $225 million, and is reported to have proven reserves totaling 6.69 million tonnes grading 3.04% nickel and 0.81% copper and probable reserves of 11.42 million tonnes grading 2.78% nickel and 0.78% copper.
The mine boasts one of the richest concentrations of ore in the world and the lowest nickel production costs. Anglo American Exploration (Canada) Ltd. (part of the giant Anglo American plc) also has large land holdings in the area. The potential of the area was further demonstrated when Canadian Royalties announced significant nickel and copper, platinum and palladium values on an adjacent belt to the one hosting the Falconbridge deposit.
GWV has completed a preliminary review of the data of the property and is proposing a program of ground geophysics on its anomalous showing that was discovered previously to the west of the Raglan mine. |
For more information on recent developments please contact:
John Ulmer - Shareholder Relations:
778-994-6453
Our current properties:
Our Mission:
"To become a world class precious mineral producer, specializing
in gold, diamonds and platinum, through the discovery and development
of exceptional finds world wide."
Our Vision:
"To develop and expand our current holding into producing
mines over the next two years."
Our promise:
"To provide to our shareholders, as owners of the company,
timely and accurate information regarding all corporate and technical
developments. Furthermore, management pledges to manage our shareholders'
investment in the most efficient and responsible manner in order
to achieve our mission and realize our vision."
TSX-V: GWV
Pink Sheets: CGWJF
Frankfurt Exchange: OUH1
Share Structure: (As of April 15, 2008)
Current issued & outstanding:
12,638,850
Phase One Drill Program Photos
from Dolly Varden
Drilling in full gear
Abby Farrage -
This is what its all
about
Geologist Laurie
Stephenson holds
core fragment from
site 2 at 1400 foot
depth level
Mr Abby Farrage
with CGW Director
Sir Lincoln Fuqua
Click here for the latest photos
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