Consolidated GoldWin (CGW) hits kimberlite
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Posted: Tuesday May 2 7:33:28PM 2006
CGW now listed on Frankfurt. What for ENORMOUS promo and push up!
Posted: Monday May 1 5:20:06PM 2006
Stock made another strong surge today above the resistance around about the $0.20 level. Hopefully, this former resistance level will become support. :)
Posted: Thursday Apr 27 8:00:42AM 2006
More early exploration results announced today (from another project):
2006-04-27 07:55 ET - News Release
Mr. Abby Farrage reports
HIGH GRADE SILVER, ZINC, COPPER AND GOLD FOUND AT DOLLY VARDEN
Consolidated Gold Win Ventures Inc. has found exceptionally high grades of silver, zinc and copper as well as significant gold values during recent soil sampling on the Dolly Varden claims, located southeast of Elko, Nev.
Specifically several grab samples from the vicinity of old pits were taken on the northern part of the claim group in an area of limestones where they were intruded by a rhyolitic (felsic) dike, two samples returned 1,145 parts per million silver (33.57 ounces per tonne) and 347 parts per million silver (10.18 ounces per tonne) (2.67 per cent copper; 20.6 per cent lead; 1.49 per cent zinc and 0.154 part per million gold and 9.34 per cent copper; 1.95 per cent lead; 2.21 per cent zinc and 0.116 part per million gold, respectively). Two other samples from the same area reported high zinc results of 20.2 per cent and 17.7 per cent (2,150 parts per million copper; 2.84 per cent lead; 23.8 parts per million silver and 0.035 part per million gold; and 1,050 parts per million copper; 6,940 parts per million lead; 34.1 parts per million silver and 0.012 part per million gold; respectively), and one sample high gold value of 2.62 grams (3.01 per cent copper; 327 parts per million lead; 9.1 parts per million silver and 529 parts per million zinc).
The soil sampling indicates southeasterly trending soil anomalies in precious and base metals associated with these zones and the related skarn mineralization.
All samples were processed by ALS Chemex Labs at its Elko facilities by standard ICP and assay methods.
The Dolly Varden property is a copper gold skarn property located just south of the old Kennecott Victoria mine which produced over two million tons of high-grade copper ore in the 1960s. The presence of the high zinc and silver values and gold and copper values will be further investigated to determine their significance.
An induced polarization survey and further geological sampling and mapping are commencing in May prior to drill testing.
As previously announced, drill permitting to complete 3,000 feet of drilling on the areas related to known gold and copper mineralization has been initiated.
Valuation comparison: 50 ounces silver equals one ounce gold (at current gold and silver prices approximately)
Current gold price: $635 per ounce
Current silver price: $12.80 per ounce
Current copper price: $3.36 per pound
Current zinc price: $1.52 per pound
Abby Farrage stated: "We are eager to continue our exploration program at the Dolly Varden claims. With base and precious metals prices continuing to rise, our property in Nevada is becoming increasingly attractive to investors. These early results indicate the possibility for a potentially economic mineral deposit at Dolly warranting the exploration work currently under way, including an extensive drill program."
Laurence Stephenson, PEng, a qualified person under National Instrument 43-101, has approved the contents of this news.
Posted: Friday Apr 21 4:29:26PM 2006
You are, of course, correct. The only significance is that they hit kimberlite - they have a CHANCE at finding diamonds. I think investors are just enouraged that kimberlite was indeed hit and that the hole was not a dud with no chance of intersecting anything meaningful. It gave investors the opportunity to speculate that other holes in the drill program could hit more meaningful intercepts.