Consolidated Magna - Phase I Exploration at Ambon Island.VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 1, 1996-- Cons. Manga maNga is a popular Turkish nu metal/rapcore band. Their music is mainly a fusion of alternative metal and hip hop music, with a touch of Anatolian melodies; with heavy use of turntables, invoking comparisons with modern American nu metal bands. (VSE See DOS/VSE. VSE - Virtual Storage Extended :CMV CMV cytomegalovirus. CMV abbr. 1. controlled mechanical ventilation 2. cytomegalovirus Cytomegalovirus (CMV) ) Consolidated Magna Ventures Ltd. is pleased to announce that the work permit (S.I.P.P.) for the Ambon Island Property in Indonesia has been approved, granting Magna the right to proceed with exploration on its 100 percent-owned, 18,500-hectare property. A field crew has been assembled and will be mobilizing to the property on October 1, 1996. The Phase I program will consist of reconnaissance scale stream sediment sampling and prospecting, including follow-up of several polymetallic stream and rock sample anomalies. These anomalies were the result of a 1987 program by P.T. Nusa Namrole Mining in which rock samples returned values of up to 1 percent copper, 2.2 percent zinc, 0.31 percent lead, 1.1 g/t gold and 26.0 g/t silver. Significantly, mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. rocks were found in several locations throughout this extensive property, implying the presence of a large mineralizing system. Similarly, stream sediment samples returned values of up to 770 ppm copper, 6,250 ppm zinc and 250 ppm lead in the western part of the property and up to 150 ppb gold and 2,000 ppm barium in the northeast, with elevated values of gold, base metals, and barium at numerous other sites around the property. The current program is intended to fill in the gaps in the last survey and determine the source of the known anomalies. The property is predominantly underlain un·der·lain v. Past participle of underlie. by the Ambon Volcanics, a suite of Tertiary andesites, dacites, breccias and tuffs. Several bodies of the Ambon Granite are known to intrude the volcanic rocks. The andesites show signs of widespread hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. alteration and the primary exploration target is a Kuroko-style massive sulphide deposit similar to that discovered by Inco on neighbouring Haruku Island. The property will also be evaluated for epithermal gold-silver and porphyry copper-gold type 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. . The Company has also set incentive stock options for employees to acquire up to 25,000 shares at a price of $0.53 for a five-year period. 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). -0- NOTE TO EDITORS: A map is available from the company. The Vancouver Stock Exchange neither approves nor disapproves the contents of this news release which was prepared solely at the discretion of management. CONTACT: Consolidated Magna Ventures Ltd. Julie Hunter, 604/685-9700 |
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