CONSOLIDATED MAGNA REPORTS SIGNIFICANT NI-CU-CO ASSAYS RECEIVED FROM TASISUAK LAKE PROPERTY, LABRADOR.VANCOUVER, BC--(BUSINESS WIRE)--AUGUST 16, 1995--CONSOLIDATED MAGNA MAGNA Mid Atlantic Grand National Association (VSE See DOS/VSE. VSE - Virtual Storage Extended : CMV ) Consolidated Magna Ventures Ltd. (CMV.VSE) and Consolidated Viscount Resources Ltd. (CVR CVR See contingent value right (CVR). .VSE) have received significant Ni-Cu-Co assays from their Tasisuak Lake property located 50 km. northwest of Voisey Bay, Labrador. Preliminary results from initial grab samples show assays of up to 1.36 percent Ni, 0.59 percent Cu and 0.07 percent Co, with anomalous Cr, Zn and Ag. A further 80 grab samples are now being analyzed for 32 elements, including Ni, Cu and Co, as well as gold assays on all samples. Because these samples were collected from rusty, oxidized oxidized having been modified by the process of oxidation. oxidized cellulose see absorbable cellulose. gossan outcrops, the assay grades may not be truly representative of the original sulfide mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . Furthermore, the sampled gossans only represent the north and south margins of the main east-west geophysical target, as the main body of Anomaly A is overburden- covered and swampy in places. The positive assays lend further support to the companies' decision to fast-track a drilling program at Tasisuak Lake in September. Ground geophysical and geological crews have been mobilized to the Tasisuak Lake property in order to survey in more detail the multiple gossan zones and geophysical highs in Anomalies "A" and "B". Consolidated Magna Ventures Ltd. is a growth oriented mineral exploration company listed on the Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). (Symbol - CMV.VSE). The Company holds options on 356 claims comprising 4 properties in the Voisey Bay area and a further 246 claims in two properties near Goose Bay, Labrador. Further property acquisitions are pending. -0- ON BEHALF OF THE BOARD OF DIRECTORS Bradford J. Cooke Director -0- The Vancouver stock exchange neither approves nor disapproves the contents of this news release which was prepared solely at the discretion of management. CONTACT: Clayten Vance (604) 685-9700 REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or |
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