Consolidated Magna -Update Magna/First Western Joint Venture Blocks.VANCOUVER, British Columbia--(BUSINESS WIRE)--June 12, 1996-- Consolidated Magna Ventures Ltd. is encouraged by preliminary results from the airborne survey flown over the Block 5 Magna/First Western joint venture in northern Labrador. The survey has revealed seven distinct EM conductors with associated magnetic highs within granitic and anorthositic intrusive rocks of the Nain Plutonic plu·ton·ic adj. Of deep igneous or magmatic origin: plutonic rocks. [From Latin Pl Suite. Neither of these rock types are normally magnetic or conductive but they are known to contain significant volumes of more mafic phases, such as gabbro gabbro: see basalt. gabbro Any of several medium- or coarse-grained rocks that consist primarily of plagioclase feldspar and pyroxene. Gabbros are found widely on the Earth and on the Moon. and troctolite Troctolite is a rare ultramafic intrusive rock type. It consists essentially of variable amounts of olivine and calcic plagioclase along with variable minor pyroxene. It thus is midway between peridotite and anorthosite. . The company is therefore enthusiastic about the potential for these airborne anomalies to indicate concentrations of sulphide 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. hosted in mafic intrusive rocks. Anomalies Alpha and Beta are 1.6 km. and 1.8 km. ENE trends in the northeastern corner of the property. Anomalies Delta, Epsilon and Lamda are two line anomalies on different structures in the same area of the property. In the central zone, two anomalies, Omega and Phi, are on separate structures of interest. Omega shows sporadic but high intensity electromagnetics over 3.6 km. and Phi forms an arc around the flanks of a magnetic high over 1.8 km. Sigma is an isolated three-line anomaly in the southern portion of the property. Field crews will commence detailed follow-up ground surveys by the week of June 20th in the areas of these anomalies. BLOCK 9 PROPERTY Elsewhere in the Voisey's Bay region, a first pass geological survey of Magna's Block 9 property, also a joint venture with First Western, has revealed the presence of sulphide mineralization in a mafic dyke. Prospecting with a Beep-Mat has extended the strike of the zone under snow cover for over 300 metres. Assays are pending. Field crews will be continuing to work on these two properties and the seven other Magna/First Western blocks throughout the course of the summer. Several significant targets are already in the pipeline to be tested in a diamond drill program this summer. 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 CMV cytomegalovirus. CMV abbr. 1. controlled mechanical ventilation 2. cytomegalovirus Cytomegalovirus (CMV) .VSE See DOS/VSE. VSE - Virtual Storage Extended ). 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. Clayten Vance, (604) 685-9700 (604) 685-9744 (Fax) |
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