VANCOUVER, Aug. 22 /CNW/ - CONSOLIDATED GOLD WIN VENTURES INC. (CGW
TSX-V, FRANKFURT - OUH, PINKS - CGWVF) ("Gold Win") has completed its initial
summer work on the Yeti Claims area as the company continues the evaluation of
the gold and base metal showings on those claims. The company is proceeding
with permitting for at least three drill sites to test the Main, Comfort and
Wolf Zones which are along a north/northeast trending 3 kilometre mineralized
structural zone within the Stuhini Group of volcanics and sediments.
These three zones have returned values of gold and copper in grab samples
(up to 74,000 ppb (74 gm/tonne) gold and copper values up to 14,340 PPM
(1.4%); over 10,000 ppm copper (greater than 1%) with trace gold; and 487 ppb
(0.5 gm/tonne) gold and 3409 ppm (0.34%) copper respectively) with most of the
work being completed on the central Main Zone. The Comfort zone, of
breccia-quartz stockworks and serpentine-talc at the south end of the Main
zone and similar Wolf Zone of quartz carbonate stock work bracket the Main
zone and have been less intensely explored. Quartz carbonate alteration
continues to the north east associated with a porphyritic diorite dyke to a
possible fourth drill site area.
This intrusive associated with the fourth drill site area to the north
and the reported intrusive just south of the Comfort zone are both believed to
be part of the Nightout granodioritic Pluton which is associated with the Late
Triassic intrusive suite into the Stuhini Group and which gave rise to the
Galore Creek deposit 42 kilometres to the south.
In the Main Zone, "ladder veins" occur between two or more north trending
veins up to two meters in width and in conjunction with a strong gossanous
carbonate altered zone (the Wolf zone and north drill site area), has shown
the veins to be highly enriched in gold. Select grab samples from the Main
zone returned have returned the highest values to date of 515,000 ppb
(14.9 oz./ton) gold, 697.2 PPM (20 oz./ton) silver and 27,244 PPM (2.7%)
copper.
The company feels that the planned exploration program, which will
include site preparation for drilling expected to commence early this fall,
will enhance the current knowledge of this extensive area of mineralization.
The association of volcanics, sediments and intrusives is significant as
some of the area's largest and most significant deposits exhibit similar
traits. The volcanogenic massive sulphide Eskay Creek property, 102 km
southeast includes several deposits of polymetallic sulphide mineralization as
both exhalative massive sulphides and discordant veins, transitional between
sub aerial hot spring Au-Ag deposits and deeper water exhalites and the
alkalic porphyry copper-gold deposits within the Galore Creek area are hosted
primarily by highly altered potassium-enriched volcanic rocks and pipe-like
breccias adjacent to dikes and stocks (intrusives) which have intruded coeval
with the Stuhini Group rocks.
The assay results reported herein are from earlier assessment files and
pre-date the implementation of NI 43-101 standards.
Laurence Stephenson, P.Eng, a Qualified Person under National Instrument
43-101, has approved the contents of this News Release.
Listen to Laurence Stephenson, P.Eng discuss this and other CGW
properties by following link below.
http://www.stockhouse.ca/exec_casts/co_detail.asp?tickerSymbol(equal sign)V.CGW&edit
ion(equal sign)Aug2004
About Consolidated Gold Win Ventures
CGW is a progressive and rapidly advancing junior exploration company
with interests in the North West Territories - Drybones Diamond properties,
Nevada - South Dolly Varden Silver/Gold/Copper claims, British Columbia - Yeti
Gold claims, Quebec - Raglan Platinum group metals claims.
The TSX Venture Exchange has neither approved nor disapproved of the
information contained herein. The statements that are not historical facts are
forward-looking statements involving known and unknown risk factors and
uncertainties which may cause actual results to vary considerably from these
statements. The risks and uncertainties include those described in the
Company's periodic filings on SEDAR.
We seek Safe Harbor
