Consolidated Venturex Confirms Zinc-Lead “SEDEX” Mineralization in Carnes Creek Drilling
November 24, 2006
West Vancouver, British Columbia – November 24, 2006 – Consolidated Venturex Holdings Ltd (the “Company”) is pleased to announce that, further to its news release of October 18, 2006, it has now received assay results for most of the sampled core from the holes drilled on the “Carnes Creek” zone of its “LJ Property” located 35 km north of Revelstoke, British Columbia. In its 2006 drilling program, the Company completed approximately 1500 metres of core drilling. The following table summaries all of the assay results from the drilling program, except for a short interval of hole LJ06-07, which assay results are still pending.
|
Drill hole |
From |
To |
Interval (m)
Est. true thickness |
Pb (%) |
Zn (%) |
|
LJ06-03 |
63.00 |
69.85 |
6.85 |
1.52 |
3.22 |
|
|
|
|
|
|
|
|
LJ06-04 |
67.94 |
70.24 |
2.30 |
3.81 |
6.82 |
|
|
|
|
|
|
|
|
LJ06-05 |
70.47 |
76.00 |
5.53 |
1.43 |
3.19 |
|
including |
71.16 |
72.78 |
1.62 |
3.30 |
7.43 |
|
|
|
|
|
|
|
|
LJ06-06 |
67.00 |
73.11 |
6.11 |
2.34 |
3.35 |
|
including |
70.26 |
73.11 |
2.85 |
3.12 |
6.01 |
|
|
|
|
|
|
|
|
LJ06-07 |
72.00 |
75.00 |
3.00 |
2.07 |
3.77 |
|
|
|
|
|
|
|
|
LJ06-08 |
127.30 |
130.68 |
3.38 |
1.18 |
3.65 |
|
including |
127.30 |
128.02 |
0.72 |
2.56 |
7.24 |
|
LJ06-08 |
133.00 |
136.81 |
3.81 |
2.37 |
6.05 |
|
including |
135.35 |
136.26 |
0.91 |
4.84 |
12.60 |
|
|
|
|
|
|
|
|
LJ06-09 |
120.50 |
121.85 |
1.15 |
2.06 |
9.41 |
|
LJ06-09 |
130.63 |
141.00 |
10.37 |
1.67 |
3.69 |
|
including |
132.02 |
133.50 |
1.48 |
2.72 |
6.99 |
|
and including |
135.94 |
137.76 |
1.82 |
4.79 |
7.51 |
The Company’s 2006 drilling program was designed to follow up on 3 initial holes drilled on the LJ Property last year by Selkirk Metals Holdings Corp. (“Selkirk”) that included hole LJ05-02 that assayed 4.90% lead, 10.70% zinc and 9.40 g/t silver over 5 metres from 132.8 to 137.8 metres within 15 metres of 2.69% lead, 6.81% zinc and 3.93 g/t silver from 122.8 to 137.8 metres.
Based on the exploration work completed to date, the Company has determined that the Carnes Creek zone has the characteristics of a SEDEX zinc-lead deposit. Within the zone, strataform mineralization, consisting of banded massive and semi-massive pyrite-sphalerite-galena, occurs as discrete composite intervals within graphitic phyllite. The intervals coincide with the east and west surface showings discovered by the Company in 2006. Detailed structural mapping on surface and fabric measurements taken from the 2006 drill holes confirm that SEDEX mineralization occupies the limbs and hinge zone of a reclined synformal fold. The best mineralization occurs at the hinge of the fold, the axis of which plunges gently southeastward. The zone remains open down plunge along the fold axis toward the southeast. A drill plan and sections can be viewed on the Company’s website (www.consolidatedventurex.com). The 2005 Selkirk drill hole (LJ05-02) is interpreted to intersect the hinge of the fold axis. Drilling in 2006 confirmed the continuity of the mineralization from the Selkirk drill hole (LJ05-02) to the surface showings.
The above table of assay results summarizes the most significant intervals/grades within sections of sulphide mineralization encountered in 7 of 10 holes drilled this year. Mineralized intervals are estimated true thickness. Only composite intervals with grades greater than 4% combined lead and zinc are included in the table of significant results. A table of summary results will be posted on the Company’s website. Drill holes LJ06-01 and LJ06-02 went under the fold axis.
Drilling ended in late October 2006 due to mechanical difficulties and inclement weather conditions at the exploration site. Additional holes designed to extend the thicker sections of sulphide mineralization intersected in holes LJ06-08 and LJ06-09 were planned but not completed due to the weather conditions. For 2007, the Company intends to trace the hinge zone (fold axis) of the mineralized horizon to the southeast with an aggressive drill program. Along with the drilling, the Company will attempt to locate the surface trace of the mineralization further to the south particularly, the slopes of Carnes Creek South with detailed prospecting and soil geochemistry.
The Company has an option to acquire a 49% working interest in the LJ Property from Selkirk Metals Holdings Corp, a wholly owned subsidiary of Selkirk Metals Corp.
Jamie Pardy, P.Geo, has reviewed this release and is acting as the Company’s Qualified Person for this project.
For further information, contact Mr. Clive Shallow, investor communications at 604-922-2030 or visit the Company’s website at www.consolidatedventurex.com
Consolidated Venturex Holdings Ltd.
“Ronald A. Coombes”
Ronald A. Coombes, President
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release.
Cross Section
Drill Plan
