CONSOLIDATED VENTUREX ACQUIRES FIVE LARGE EXPLORATION LICENSES IN NORTHEASTERN QUEBEC.VANCOUVER, BC--(BUSINESS WIRE)--May 24, 1995--CONSOLIDATED VENTUREX (VSE See DOS/VSE. VSE - Virtual Storage Extended :CVA CVA abbr. cerebrovascular accident CVA, n See accident, cerebrovascular. CVA cerebrovascular accident. CVA Cerebrovascular accident, see there ) Consolidated Ventures Holdings Ltd. is pleased to announce that it has acquired five large exploration licenses in northeastern Quebec. This extensive land position, totalling over 343,000 acres in size, covers highly prospective nickel, copper and cobalt geology southwest of Voisey Bay, on the Quebec side of the provincial border. The license area is underlain in part by favourable layered anorthosite anorthosite Type of igneous rock composed predominantly of calcium-rich feldspar. It is considerably less abundant than either basalt or granite, but the complexes in which it occurs are often immense. , gabbro and ultramafic rocks. The region has no record of previous exploration. Geologists working for the Quebec government have recently mapped the area and report that numerous zones of 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. are present, several with anomalous nickel and copper values on surface. The five licenses announced here are the first acquisitions by the Company in the region, with additional license applications pending. Consolidated Venturex will explore the licenses in joint venture with Gitennes Exploration Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. - GIT). Venturex will pay 70% of the first annual license fees, and thereafter both companies will share exploration costs on a 50:50 basis. Gitennes is project operator. Field work is planned to begin this summer. ON BEHALF OF THE BOARD OF DIRECTORS Jordan C. Ethans, Director 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). has neither approved nor disapproved the information contained herein. This news release has been prepared by management of the company who accept responsibility for its content. CONTACT: Jordan C. Ethans, 604/682-8555 |
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