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| Current Stock Quote:
Last - 0.16 Volume - 20000
Day High - 0.16 Day Low - 0.16 Date - 9/7/2010 |
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ZINC-LEAD-SILVER PROPERTY OPTIONED
May 31, 2006
WEST VANCOUVER, BRITISH COLUMBIA – May 31, 2006. Consolidated Venturex Holdings Ltd.,
(TSXV:CVA) (the “Company”) is pleased to announce that, subject to regulatory approval, Selkirk Metals
Holdings Corp. (“Selkirk”) and the Company have entered into an option agreement (the “Agreement”). The
Agreement entitles the Company the right to earn a 49% interest in a property known as the “LJ Property”,
which is 100 percent held by Selkirk Metals Holdings Corp., a 100% owned subsidiary of Selkirk Metals
Corp. (TSXV:SLK)
Location:
The LJ Property is located 35km north of Revelstoke, British Columbia via hwy 23 and 55 km south of the
custom permitted Goldstream mill facility.
Terms:
To earn a 49% interest in the LJ Property, the Company must spend a total of $2,500,000 on or before
December 31, 2008 and issue 600,000 common shares to Selkirk (200,000 shares on receipt of regulatory
approval and 200,000 shares by each of March 1, 2007 and March 1, 2008). In order to keep the
Agreement in good standing, the Company must spend at least $500,000 in exploration expenditures on the
LJ Property by December 31, 2006.
History:
The LJ Property hosts massive zinc-lead-silver stratabound mineralization which has undergone
deformation, remobilization and folding at the contact between the Index and Badshot carbonate
Formations. The mineralization, originally discovered by British Columbia Geological Survey mapping
crews, consisted of massive sulphide boulders just at the end of a small remnant glacier (British Columbia
Geologist Survey Branch: Open File 1996-2). Grab samples collected by Selkirk from six massive sulphide
boulders averaged 13.5% zinc 12.29% lead and 10 g/T silver.
Selkirk previously reported that follow up prospecting discovered the source of the boulders and in 2005,
Selkirk Metals Corp. drilled three holes targeting UTEM geophysical anomalies and prospective geological
terrain. Selkirk was successful in intersecting the source of the massive sulphide boulders with drill hole LJ-
05-02 intersecting 15 metres of 6.81% zinc 2.69% lead and 3.93 g/t silver (estimated true width of 11
metres) including 5 metres averaging 10.70% zinc, 4.90% lead and 9.40 g/t silver. The mineralization is
stratabound and the higher-grade mineralization follows the plunge of the hinge in a large fold.
Plans:
Consolidated Venturex plans on further investigation of this high-grade mineralization down plunge with
geological mapping, prospecting, geophysical surveys and a minimum of 1000 metres of core drilling in
2006.
During the earn-in phase of the option, the Company will be the operator. John Kowalchuk, P.Geo., has
reviewed this release and is acting as the Qualified Person for this project.
Consolidated Venturex Holdings Ltd.
Signed “Douglas L. Mason”
Douglas L. Mason, Chairman
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of
this release.
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