Press Releases
2008
JULY
July 17, 2008
CONS GOLD WIN CLOSES $1.5-MILLION PRIVATE PLACEMENT
Consolidated Gold Win Ventures Inc (2) (C:GWV)
Shares Issued 12,748,449
Last Close 7/16/2008 $0.16
Thursday July 17 2008 - News Release
Mr. Kamal Alawas reports
Consolidated Gold Win Ventures Inc. has completed private placements for the sale of 7.5 million units at 20 cents per unit, where each unit consists of one common share of the company and one share purchase warrant at the exercise price of 30 cents per share. In connection with the foregoing, the company issued 75,000 broker warrants as partial payment of commission. The hold period for both the common share and warrants issued expires on Nov. 12, 2008.
July 16, 2008
CONS GOLD WIN DECIDES HOLD PERIOD FOR FINANCING UNITS
Consolidated Gold Win Ventures Inc (2) (C:GWV)
Shares Issued 12,748,449
Last Close 7/15/2008 $0.155
Wednesday July 16 2008 - News Release
Mr. Kamal Alawas reports
Further to Consolidated Gold Win Ventures Inc.'s news release announcing private placements for the sale of 7.5 million units at 20 cents per unit, where each unit consists of one common share of the company and one share purchase warrant at the exercise price of 30 cents per share, and the grant of 75,000 broker warrants, the company has decided that Nov. 12, 2008, is the hold period expiry date in respect of the shares comprising the units and the shares issued upon exercise of the warrants.
July 10, 2008
CONS GOLD WIN 8.65-MILLION-SHARE PRIVATE PLACEMENT
Consolidated Gold Win Ventures Inc (2) (C:GWV)
Shares Issued 12,748,449
Last Close 7/8/2008 $0.215
Thursday July 10 2008 - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced May 7, 2008, and May 30, 2008.
Shares: 8.65 million
Price: 20 cents
Warrants: 8.65 million share purchase warrants to purchase 8.65 million shares
Exercise price: 30 cents for a two-year period
Hidden placees: 22
Insider: Michael Mulberry 250,000
Finders' fees: $15,000 and 75,000 share purchase warrants payable to Blackmont Capital Inc., each share purchase warrant is exercisable at a price of 30 cents for a two-year period; $57,000 payable to Souhail (Abby) Abi-Farrage
JUNE
June 19, 2008
CONSOLIDATED GOLD WIN VENTURES TO COMMENCE DRILLING AT DOLLY VARDEN AND VICTORIA COPPER MINE
Consolidated Gold Win Ventures Inc. has confirmed that its drill contractor is ready to mobilize to the Dolly Varden area in the next couple of weeks.
The 2008 exploration program on the company's interest in Nevada including the Victoria mine and the 2006/2007 copper discovery on the Dolly Varden Spring claims to the east is set to commence in earnest for an exciting summer drilling and geological mapping program.
The exploration on the Victoria mine is being done in conjunction with preparation of the company's regulatory-compliant 43-101 reports on the Victoria mine property (these reports have not been completed). In that respect, the company had geologists from Behre Dolbear Consultants attend the Anaconda Library at the University of Wyoming to review the mining records that Anaconda had gifted to the university when that company shut down in the late 1970s. The information in the library documented the actual mining results from the 1975 to 1978 open-pit and underground copper mining operation, and the classified historic "resource" that Anaconda used to operate and project continued operations on at that time.
The resource referred to is cited from previous operator Anaconda Mining Co. and Hecla Mining reports. The company has not completed the work necessary to independently verify the classification of the mineral resource estimates. The company is not treating the mineral resource estimates as National Instrument 43-101-defined resources verified by a qualified person. The historical estimates should not be relied upon. The properties will require considerable further evaluation which the company's management and consultants intend to carry out in due course.
The Dolly Varden area is recognized as a classic eastern Great Basin district with base and precious metals associated with upper Paleozoic sediments intruded by Cretaceous auriferous magmas.
William Timmins, PEng, a qualified person under National Instrument 43-101, has approved the contents of this news release.
MAY
May 30, 2008
CONS GOLD WIN HAS INCREASED THE PRIVATE PLACEMENT SALE OF MAY 7, 2008
Mr. Mike Mulberry reports
Further to the news in Stockwatch of Consolidated Gold Win Ventures Inc.'s private placement of May 7, 2008, the company has increased the private placement sale by 1.15 million units at 20 cents per unit, raising a total of $230,000. Therefore the total amount is 8.65 million units for a total of $1.73-million, where each unit consists of one common share of the company and one share purchase warrant having a two-year term for the purchase of one further common share of the company at the exercise price of 30 cents per share.
This private placement is subject to approval by the TSX Venture Exchange.
May 15, 2008
CONS GOLD WIN AMENDS, REFILES FINANCIAL STATEMENTS
Consolidated Gold Win Ventures Inc (2) (C:GWV)
Shares Issued 12,638,849
Last Close 5/14/2008 $0.20
Thursday May 15 2008 - News Release
Mr. Mike Mulberry reports
As a result of a review by the British Columbia Securities Commission, Consolidated Gold Win Ventures Inc. is issuing the following press release to clarify its disclosure. Specifically, the Company has amended its financial statements and Management Discussion and Analysis ("MD&A") and has re-filed these documents on SEDAR. This press release will clarify amended information disclosed in is financial statements and MD&A for the following periods: 3 months ended January 31, 2006; 6 months ended April 30, 2006; nine months ended July 31, 2006; year ended October 31, 2006; 3 months ended January 31, 2007; 6 months ended April 30, 2007 and 9 months ended July 31, 2007.
The Company amended the January 31, 2006 interim financial statements as follows:
- Certain mineral property expenditures were incorrectly held as prepaid expenses and others were incorrectly netted against accounts payable. To rectify this, mineral property expenditures were increased to $2,184,437 from $2,147,672. In conjunction with this adjustment, prepaid expenses were decreased from $32,761, to $22,500, and accounts payable were increased from $111,214 to $137,718.
- Warrants were issued in conjunction with the January 8, 2006 financing of 7,000,000 units, but were not valued separately from the shares. As a result of valuing the warrants, share capital decreased to $9,212,062 from $9,365,695 while contributed surplus increased by the same amount.
- Options vested in the period were not assigned a value. Contributed surplus increased from $33,210 to $569,275 as a result of the recognition of $382,432 in stock based compensation expense, coupled with $153,633 related to the warrant valuation mentioned above.
- The end of period deficit increased from $(7,395,765) to $(7,778,197) as a result of the recognition of $382,432 in stock based compensation expense from options vested in the period. This additional expense increased the net loss for the period to $490,269 from $107,837, and increased the basic and fully diluted loss per share to $0.01 from $0.002.
- As a result of the above adjustments, the Interim Consolidated Statements of Cash Flows were revised as follows: Cash used in operating activities decreased to $142,163 from $178,928. Cash used in investing activities increased from $nil to $36,765. Both cash generated from financing activities and the net inflow/outflow of cash remained unchanged.
- In addition, a Schedule Of Mineral Property Interests was added to the financial statements, that details mineral property expenditures on a property by property basis. The Company amended the January 31, 2006 MD&A as follows:
- Additional information was added to the Overview section to explain how the Company performed over the period covered by the financial statements. A breakdown of the material components of capitalized exploration and development costs on a property-by-property basis was included. The Results of Operations section was updated to provide a more detailed discussion of the significant transactions and expenditures for the period covered by the financial statements.
- Additional information regarding the Company's projects including the plan for the project; status of the project and expenditures on the project and how these expenditures relate to the anticipated timing and costs of taking the project to the next stage of plan.
- The Company disclosed that due to unsatisfactory results, on August 9, 2006, the Company announced the abandonment of the Drybones #4 mineral property.
- A breakdown of the Company's travel, promotion and investor relations expenses is provided.
- Additional disclosure regarding Kodiak Exploration's decision not to proceed with its option on the Company's Yehiniko properties is included.
- The Subsequent Events section has been updated to include disclosure of information relating to the Company's outstanding securities up to the date of the amended and restated MD&A.
The Company amended the April 30, 2006 interim financial statements as follows:
- An amount of $68,886 relating to options exercised in the period was not moved from contributed surplus to share capital. In addition, warrants were issued in conjunction with both the January, 2006 financing of 7,000,000 units, and the April, 2006 financing of 5,700,000 units, but these warrants were not valued separately from the shares. As a result of these two adjustments, and the recovery of future income taxes noted below, share capital decreased from $10,538,770 to $10,194,649.
- Contributed Surplus has increased from $33,210 to $799,070, as a result of stock based compensation expense noted below, and the warrant valuations noted above.
- Stock based compensation expense of $124,607 was recognized for the 3 months ended April 30, 2006, and $507,039 for the six months ended April 30, 2006. In addition, as a result of the renunciation of flow-through expenditures, a recovery of future income tax asset of $85,300 was recognized for the three and six months ended April 30, 2006.
- As a result, the end of period deficit increased from $7,672,232 to $8,093,971.
- In addition, a Schedule Of Mineral Property Interests was added to the financial statements, that details mineral property expenditures on a property by property basis
The Company amended the April 30, 2006 MD&A as follows:
- Additional information was added to the Overview section to explain how the Company performed over the period covered by the financial statements.
- A breakdown of the material components of capitalized exploration and development costs on a property-by-property basis was included.
- The Results of Operations section was updated to provide a more detailed discussion of the significant transactions and expenditures for the period covered by the financial statements.
- Additional information regarding the Company's projects including the plan for the project; status of the project and expenditures on the project and how these expenditures relate to the anticipated timing and costs of taking the project to the next stage of plan.
- The Company disclosed that due to unsatisfactory results, on August 9, 2006, the Company announced the abandonment of the Drybones #4 mineral property.
- A breakdown of the Company's travel, promotion and investor relations expenses is provided.
- Additional disclosure regarding Kodiak Exploration's decision not to proceed with its option on the Company's Yehiniko properties is included.
- The Subsequent Events section has been updated to include disclosure of information relating to the Company's outstanding securities up to the date of the amended and restated MD&A.
The Company amended the July 31, 2006 interim financial statements as follows:
- The Company announced the abandonment of the Drybones No. 4 mineral property on August 9, 2006. As a result, in the nine months ended July 31, 2006, the Company should have taken a writedown of $1,002,187, the costs related to that property. The share-based finder's fee for a mineral property was debited to share capital finder's fees instead of being debited to Mineral Property Acquisition costs. The value of this finder's fee was $237,187. As a result of these two corrections, capitalized mineral property costs decreased by $765,000.
- An amount of $77,780 relating to options and warrants exercised in the period was not moved from contributed surplus to share capital. In addition, warrants were issued in conjunction with the January, 2006 financing of 7,000,000 units, the April, 2006 financing of 5,700,000 units, and the May 19th financing of 14,718,900 units. These warrants were not valued separately from the shares. The warrant values of $975,395 relating to these financings have now been moved to contributed surplus. Finally, as a result of the renunciation of flow-through expenditures, a recovery of future income tax asset of $85,300 was recognized as a decrease in share capital. As a result of these adjustments, and the finder's fee noted above, share capital decreased from $12,175,234 to $11,429,507.
- Options vested in the period were not originally assigned a value. Similarly, options and warrants exercised in the period were not originally assigned a value. Contributed surplus has increased from $33,210 to $1,765,583 as a result of the recognition of $ 834,759 in stock based compensation expense, coupled with $975,395 related to the warrant valuation mentioned above, offset by $77,780 in options and warrants exercised.
- The end of period deficit increased from $(7,851,195) to $(9,602,841) as a result of the recognition of the $1,002,187 writedown of mineral property costs. In addition, stock based compensation expense of $834,759 (9 months) and $327,720 (3 months) was recognized relating to options vested in the periods. These items were offset by the $85,300 (9 months) recovery of future income taxes on the renunciation of flow-through expenditures. This additional net expense increased the net loss for the nine months to $2,314,913 from $563,267, and increased the basic and fully diluted loss per share to $0.04 from $0.006. Similarly the net loss for the three months increased from $178,963 to $1,508,870, and the basic and fully diluted loss per share increased to $0.02 per share from $.002 per share.
- In addition, a Schedule Of Mineral Property Interests was added to the financial statements, that details mineral property expenditures on a property by property basis.
The Company amended the July 31, 2006 MD&A as follows:
- Additional information was added to the Overview section to explain how the Company performed over the period covered by the financial statements.
- A breakdown of the material components of capitalized exploration and development costs on a property-by-property basis was included.
- The Results of Operations section was updated to provide a more detailed discussion of the significant transactions and expenditures for the period covered by the financial statements.
- Additional information regarding the Company's projects including the plan for the project; status of the project and expenditures on the project and how these expenditures relate to the anticipated timing and costs of taking the project to the next stage of plan.
- The Company disclosed that due to unsatisfactory results, on August 9, 2006, the Company announced the abandonment of the Drybones #4 mineral property.
- A breakdown of the Company's travel, promotion and investor relations expenses is provided.
- Additional disclosure regarding Kodiak Exploration's decision not to proceed with its option on the Company's Yehiniko properties is included.
- The Subsequent Events section has been updated to include disclosure of information relating to the Company's outstanding securities up to the date of the amended and restated MD&A.
The Company amended the October 31, 2006 annual financial statements as follows:
- In a previously issued version of these financial statements, paragraph 5 (g) referred to an issuance of 11 million options when it should have referred to an issuance of 9.4 million options. There were no changes required to any schedule or statement apart from this paragraph reference.
The Company amended the October 31, 2006 MD&A as follows:
- The breakdown of material components of capitalized exploration costs on a property-by-property basis is set out in the Schedule of Mineral Property Interests, as requested.
- A discussion and analysis of the fourth quarter events in Results of Operations is provided.
- Conclusions about the effectiveness of the Company's disclosure controls and procedures are provided.
- Information regarding the common shares issued subsequent to October 31, 2006 in the Subsequent Events section has been amended and revised.
- The schedule of outstanding warrants has been amended and revised.
The Company amended the January 31, 2007 interim financial statements to reflect revisions to the Company's accounting and administrative practices by stating that in April 2005, the Canadian Institute of Chartered Accountants issued two new accounting standards, Handbook Section 1530, Comprehensive Income, Handbook Section 3855, Financial Instruments - Recognition and Measurement and Handbook Section 3865, Hedges. These sections are effective for fiscal years beginning on or after October 1 2006. These new standards require certain financial assets and liabilities to be measured at fair value and establish a new measure of income, "other comprehensive income", for the change in net assets other than changes attributable to transactions with the Company's shareholders. The Company has adopted these new standards for its period ended of July 31, 2007 and there is no material difference in the accounting for the Company's financial instruments from previous standards.
The Company amended the January 31, 2007 MD&A as follows:
- Additional information was added to the Overview section to explain how the Company performed over the period covered by the financial statements.
- A breakdown of the material components of capitalized exploration and development costs on a property-by-property basis was included.
- The Selected Quarterly Results section was updated to provide a more detailed discussion of the factors that have caused the variations over the quarters.
- Additional information regarding the Company's projects including the plan for the project; status of the project and expenditures on the project and how these expenditures relate to the anticipated timing and costs of taking the project to the next stage of plan.
- A discussion of the Company's transaction with related parties is included in the Related Party Transactions section.
- Detailed information regarding the Company's outstanding capital, warrants and options is included in the Outstanding Share Data section.
- A discussion of the changes to the Company's internal controls over financial reporting
- The Liquidity and Capital Resources section has been updated to include a discussion of the Company's financings during the 3 months ended January 31, 2007.
The Company amended its April 30, 2007 interim financial statements to state that reported general exploration expenses were incurred while determining the existence, location, extent and quality of the mineral resources of two new potential mining projects. As the projects were in the very preliminary stages of investigation they were not be classified into specific mining properties in the financial statements. Currently, there is no option or purchase agreement in place pertaining to these areas of exploration.
The Company amended the April 30, 2007 MD&A as follows:
- A breakdown of the $642,006.00 in general exploration expenditure has been added to the amended MD&A.
- Additional information regarding the Company's Dolly Varden and Drybones projects including its plan for the projects; status of the projects and expenditures on the projects and how these expenditures relate to the anticipated timing and costs of taking the projects to the next stage of plan.
- The Liquidity and Capital Resources section has been updated to include a discussion of the share subscriptions received by the Company during the 3 months ended April 30, 2007.
The Company amended its July 31, 2007 interim financial statements and MD&A statements by providing notice of the revisions of its accounting and administrative practices. The Company amended its disclosure to state that it had recognized 3,998,357 flow-through shares. The tax effect relates to the renounced deductions as a "reduction" of income tax expense, as at the date of renouncement, in the statement of operations and the shareholders' equity. The Company raised $512,276 in flow-through financing in fiscal 2006; this was renounced subsequent to fiscal 2006. As a result, the reduction of income tax expense was recognized in the quarter ended July 31, 2007.
The Company amended its July 31, 2007 MD&A as follows:
- A breakdown of the acquisition costs for the Dolly Varden property was provided. The Company paid $218,125 to acquire additional claims at Dolly Varden, extending mineralization to 6,000 feet. This was paid in two payments, one in January and the second in April. The monies were paid in US funds, totaling $195,000 US and exchanged into Canadian dollars at the average rate of $1.12.
- The Company's disclosure was amended to state that as the activity level of operations increased, so did related expenses. In the nine month report period, the Company had undertaken a corporate promotional campaign using outside consultants to increase awareness. This campaign included inviting potential investors to visit the development site and sending out informational packages. The Company has been exploring the potential of two new development sites which also contributed to the increase in the general exploration costs and management fees.
- The Company made further disclosure, stating on June 27, 2007, the company granted 11,477,081 stock options to three directors of the company, with an exercise price of $0.13 for a five year period.
May 14, 2008
CONSOLIDATED GOLD WIN VENTURES ENGAGES DRILL COMPANY
(VANCOUVER BC; May 14 2008) CONSOLIDATED GOLD WIN VENTURES INC. (GWV TSX-V, FRANKFURT – OUH1, PINKSHEETS - CGWJF) has contracted with Global Drilling Inc. to drill a minimum of 5000 feet of drilling on the Victoria Mine and its Dolly Varden area claims in the near future.
The company continues to build on last year’s exploration experience and the information of Anaconda’s past work on the Victoria Mine and surrounding area.
The continuation of exploration in this area, the first since the early 1980’s at the close of mining of the nearby Victoria Mine, will be done in conjunction with the company completing regulatory compliant 43-101 reports on the Victoria Mine property.
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.
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
GWV 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 Metals claims
Further information can be obtained by contacting:
John Ulmer at Shareholder Relations: 778-994-6453
Email: moreinfo@v-cgw.com
Web site: www.v-cgw.com
Michael Mulberry, President and Director
Consolidated Gold Win Ventures Inc.
P.O. Box 48474, Bentall Centre, Vancouver, BC
V5C 2M7
We seek safe Harbor
May 7, 2008
CONS GOLD WIN TO RAISE UP TO $1.5-MILLION PRIVATELY
Mr. Mike Mulberry reports
Consolidated Gold Win Ventures Inc. has entered into private placements for the sale of 7.5 million units at 20 cents per unit for a total of $1.5-million, where each unit consists of one common share of the company and one share purchase warrant having a two-year term for the purchase of one further common share of the company at the exercise price of 30 cents per share.
Finders' fees of a combination of cash, shares and/or warrants will be paid to eligible finders in relation to this financing, all in accordance with regulatory policies.
This private placement is subject to approval by the TSX Venture Exchange.
About Consolidated Gold Win Ventures
GWV 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 Metals claims
Further information can be obtained by contacting:
John Ulmer at Shareholder Relations: 778-994-6453
Email: moreinfo@v-cgw.com
Web site: www.v-cgw.com
Michael Mulberry, President and Director
Consolidated Gold Win Ventures Inc.
P.O. Box 48474, Bentall Centre, Vancouver, BC
V5C 2M7
We seek safe Harbor
APRIL
April 15, 2008
COMPANY COMPLETES RESTRUCTURING AND PREPARES FOR 2008 EXPLORATION SEASON
(VANCOUVER BC; April 15, 2008) CONSOLIDATED GOLD WIN VENTURES INC. (GWV TSX-V, FRANKFURT - OUH, PINKSHEETS - CGWJF) has completed its restructuring and is now trading under the new symbol GWV on the TSX Venture Exchange and CGWJF listed on the Pink Sheets.
The company is planning to initiate its drilling program on the Victoria Mine and the Dolly Varden Area Claims in early May as it builds on the information from its analysis of last year’s exploration and the information it has received from its research on Anaconda’s Victoria Mine files.
This year’s work on the Victoria mine is geared to developing the mineralization below the Anaconda reported levels and to follow up on the targets identified but never tested, by both Anaconda and Hecla when they held the property.
The work on the Dolly Varden area will focus on the significance of the discovered mineralization including zones of massive pyrite associated with the 75 foot intersection grading 0.66% copper and 0.24 ounces per ton silver that have a similar association at the Victoria Mine and the adjacent showings.
The continuation of exploration in this area, the first since the early 1980’s at the close of mining of the nearby Victoria Mine, will be done in conjunction with the company completing regulatory compliant 43-101 reports on the Victoria Mine property.
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.
William Timmins, P.Eng, a Qualified Person under National Instrument 43-101, was on site to inspect the taking of these samples and has approved the contents of this News Release.
About Consolidated Gold Win Ventures
GWV 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 Metals claims
Further information can be obtained by contacting:
John Ulmer at Shareholder Relations: 778-994-6453
Email: moreinfo@v-cgw.com
Web site: www.v-cgw.com
Michael Mulberry, President and Director
Consolidated Gold Win Ventures Inc.
P.O. Box 48474, Bentall Centre, Vancouver, BC
V5C 2M7
We seek safe Harbor
FEBRUARY
February 28, 2008
CGW CLARIFIES DISPUTE WITH DRILLING COMPANY
(VANCOUVER BC; February 26, 2008) CONSOLIDATED GOLD WIN VENTURES INC. (CGW TSX-V, FRANKFURT - OUH, PINKSHEETS - CGWVF) has filed its Statement of Defence to a recent suit filed by Kettle Drilling with respects to its dispute with the company. In that Statement of Defence, CGW has indicated that it will vigorously defend the action and is seeking repayment of over $250,000 US for over-billed charges, as well as to nullify the claim Kettle Drilling has made.
Kettle Drilling was the drill contractor used last year for the very successful initial drilling program on the company’s Dolly Varden Claims in Elko County, Nevada. During that program Kettle Drilling operated the drill that cored over 13,000 feet and was paid close to $1.3 million US ( $1.6 million Cdn at the then prevailing exchange rate).
Drilling, intersected 75 feet of 0.6% copper and 0.24 ounces per ton silver in an
Area, recognized as a classic eastern Great Basin district with base and precious metals associated with upper Palaeozoic sediments intruded by Cretaceous auriferous magmas.
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.
Further information can be obtained by contacting:
Shareholder Relations: 778-994-6453
Abby Farrage: 604-671-4718
Email: moreinfo@v-cgw.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
We seek safe Harbor
February 12, 2008
CGW ANTICIPATES SUCCESSFUL DRILL PROGRAMS AT DOLLY VARDEN AND THE VICTORIA MINE FOR 2008
(VANCOUVER BC) 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:
Eleven samples were taken on a modified grid based
on the complete surface sampling program that was completed for
SGS Lakefield’s Laboratories. Those samples which are at SGS
will be used to conduct ‘bottle roll’ and ‘column
leach’ tests to ascertain the recoverability of the copper
in the mineralization.
A rough calculation of the area of the stock pile
sampled is approximately 100,000 square feet and the depth determined
to date by backhoe digging is at least 15 feet and more over an
estimated 75% of the stock pile.
Kokanee also had 3 samples run on a priority basis
from one of the stockpile test holes.
The median value is 2.0 % and average is 2.0 %.
The samples taken were also random from the top middle and bottom
of the backhoe hole. Again the close correlation to the reported
mined grade and the consistency from top to bottom should be noted.
Additional sampling has been completed in the backhoe
holes to confirm the mineralization through the stockpile and those
samples will be reported when available.
The backhoe was also used to dig several other areas
on the property that were found to contain oxide mineralization
and a new area of sulphide mineralization that are believed to be
from the extraction drifts that were developed in the 1970’s.
The sulphide material represents a new stockpile that was previously
unknown to Kokanee.
The size of all these areas of stockpiled mineralization
are currently being measured and sampled and will be reported as
the results become available.
This ongoing sampling is being completed to confirm
the amount of the oxide material present in accordance with 43-101
regulatory requirements.
