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Consolidated Gold Win still involved in diamondiferous Mud Lake Prospect
Consolidated Gold Win still involved in diamondiferous Mud Lake Prospect.
About this update from Big Bear Gold Corp.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, July 20 /CNW/ - CONSOLIDATED GOLD WIN VENTURES INC. \n(CGW TSX-V) (\"Gold Win\") reports that contrary to the Snowfield Development\nCorp. (\"Snowfield\") News Release dated July 19th, 2006 the company is not in\ndefault.\nThis position is held by and will be vigorously defended pursuant to the\noption agreement (\"Agreement\") between the Company and Snowfield dated\nApril 21, 2006, and Snowfield Development Corp.'s letter dated July 13th, 2006\n(\"SNO's Letter\"), as well Consolidated Gold Win Ventures Inc.'s Lawyer's\nLetter of June 30th, 2006 (\"CGW's Letter\") and the summary of the meeting of\nJuly 5th, 2006 by Mr. Laurie Stephenson and Mr. Robert T. Paterson (\"July 5th\nSummary\").\nThe July 5th Summary noted that an extension of time due to the delays\noutlined in the CGW Letter was required and that Snowfield Development Corp.\nwas reviewing the time line with respects to what was necessary and the\noutlined expenditure Budget going forward. These delays involved; drilling\nareas that were lower priority instead of the areas of kimberlite sill; delays\nin shipping samples of kimberlite to the laboratory, delays in responding to\nthe laboratory's request for instructions and finally delays in submitting the\namended bulk sample permit application to the appropriate regulatory agencies.\nAll these delays contributed to at least one month delay in obtaining results\nand in the case of the bulk sample whether it will be completed this summer.\nThe approval of the budget and a proposed meeting of the July 5th Summary\nto take place the week of July 10th, 2006 was predicated on the receipt of the\nfinal results from Kennecott's Thunder Bay Laboratory. These results were not\nreceived by Mr. Abby Farrage, President of Gold Win, until Friday July 14th,\n2006, after he contacted them directly.\nConsolidated Gold Win Venture Inc. (\"CGW\") put on record in the CGW\nLetter several deficiencies it observed in the performance by Snowfield\nDevelopment Corp. of the Agreement, on June 29th, 2006, in particular, s. 1.3\n(last paragraph) and Schedule \"C\" (referred herein as the \"Plan\") and s. 7.1\nof the Agreement, that it considers material to the intent of the agreement\nand the advancement of funds for completion of the exploration in a diligent\nand expeditious manner. Some of these deficiencies remain unco...