VANCOUVER, Jan. 15 /CNW/ - CONSOLIDATED GOLD WIN VENTURES INC. (CGW TSX-V, FRANKFURT - OUH, PINKSHEETS - CGWVF) has been informed by Kokanee Placer (USA) Ltd. that initial samples taken have confirmed the high grade nature of the oxide mineralization stockpiled by previous operator Anaconda Mining.

As previously announced, CGW has agreed to fund the test mining operation of the oxide mineralization including the permitting of the test in a side deal with Kokanee and will receive 50% of the profits from the proceeds of the test after recovery of its set-up and operating costs.

Kokanee had 14 samples run on a priority basis to establish an idea of the grade of the copper oxide mineralization Anaconda had stockpiled during its mining operation at the Victoria Mine in Elko County, Nevada in the late 1970's.

Eleven samples were taken on a modified grid based on the complete surface sampling program that was completed for SGS Lakefield's Laboratories. Those samples which are at SGS will be used to conduct 'bottle roll' and 'column leach' tests to ascertain the recoverability of the copper in the mineralization.

     <<
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       Sample No.    Copper     Silver      Sample No.     Copper     Silver
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     V-OX- DMP 18S    1.2%    2 g/tonne   V-OX- DMP 34 S    2.4%        -
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          20 S        5.0%    2 g/tonne        35 S         3.7%    2 g/tonne
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          25 S        1.1%    7 g/tonne        36 S         2.7%    3 g/tonne
     -------------------------------------------------------------------------
          27 S        3.0%         -           39 S         2.1%        -
     -------------------------------------------------------------------------
          29 S        4.2%         -           41 S         2.3%    2 g/tonne
     -------------------------------------------------------------------------
          32 S        2.2%         -
     -------------------------------------------------------------------------
     >>
 

The median value is 2.4 % and average is 2.7 %. The samples taken were random by non geologist samplers from the area and present a fairly accurate indication of the whole stockpile area. The close correlation to the reported mined grade and resource grade should be noted.

A rough calculation of the area of the stock pile sampled is approximately 100,000 square feet and the depth determined to date by backhoe digging is at least 15 feet and more over an estimated 75% of the stock pile.

Kokanee also had 3 samples run on a priority basis from one of the stockpile test holes.

     <<

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       Sample No.    Copper   Silver

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      V-OX- HO 1 a    2.0%      -

     --------------------------------

          1 b         2.3%      -

     --------------------------------

          1 c         1.6%      -

     --------------------------------

     >>

 

The median value is 2.0 % and average is 2.0 %. The samples taken were also random from the top middle and bottom of the backhoe hole. Again the close correlation to the reported mined grade and resource grade and the consistency from top to bottom should be noted.

Additional sampling has been completed in the backhoe holes to confirm the mineralization through the stockpile and those samples will be reported when available.

The backhoe was also used to dig several other areas on the property that were found to contain oxide mineralization and a new area of sulphide mineralization that are believed to be from the extraction drifts that were developed in the 1970's. The sulphide material represents a new stockpile that was previously unknown to Kokanee.

The size of all these areas of stockpiled mineralization are currently being measured and sampled and will be reported as the results become available.

This ongoing sampling is being completed to confirm the company's initial estimate of between 200,000 to 500,000 tons of the oxide material.

William Timmins, P.Eng, a Qualified Person under National Instrument 43-101, was on site to inspect the taking of these samples and has approved the contents of this News Release.

About Consolidated Gold Win Ventures

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CGW is a progressive and rapidly advancing junior exploration company with interests in Nevada - Dolly Varden Copper Gold claims and the Victoria Copper Mine, British Columbia - Yeti Gold claims, North West Territories - Drybones Diamond properties, Quebec - Raglan Platinum Group Metal claims.

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