VANCOUVER, Aug. 9 /CNW/ - CONSOLIDATED GOLD WIN VENTURES INC. (CGW TSX-V)
has contracted Enviroscientists, Inc. of Reno, Nevada, to file and obtain
drilling permits on its South Dolly Varden gold copper claims in Elko County
Nevada. This is in anticipation of obtaining the drilling contract to drill an
estimated 5000 feet (1650 metres) to test the zones of mineralization outlined
by the surface geochem and rock samples and their coincident Induced
Polarization (IP) anomaly. The drilling is expected to commence early this
fall.
The company's consultant is currently onsite marking the initial 5 drill
sites which will be designed to test the over 3000 foot long geophysical
anomaly associated with surface exposures of the skarn and intrusive related
copper gold and molybdenum mineralization. With the ongoing geological mapping
and sampling program, this detailed exploration will evaluate the extent of
mineralization on this property.
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, which is a similar
geological setting to the Battle Mountain Fortitude skarn gold type of deposit
in east central Nevada.
Pursuant to the option agreement ("Agreement") between the Company and
Snowfield Development Corp. (Snowfield) dated April 21, 2006, the Company, due
to the irreconcilable differences in what Snowfield promised to deliver and
what they delivered, due to the withholding of results and due to the
Company's serious reservations about the management of the Project, gave its
notice to abandon and not proceed with the Agreement. However the Company,
after conferring with its attorneys, reserved the right to seek damages, on
any future discovery related to their good faith expenditures, the results of
which have not been disclosed in a timely manner.
Laurence Stephenson, P.Eng, a Qualified Person under National Instrument
43-101, has approved the contents of this News Release.
About Consolidated Gold Win Ventures
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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
%SEDAR: 00005626E
