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Gold/Mining/Energy : Consolidated Magna Ventures (CMV.V)
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To: jerry janko who wrote ()6/4/1998 8:22:00 AM
From: jerry janko   of 380
 
Sharing recent comments on status of CMV:
Koala is a huge and very complicated system and a bit like playing the
lottery -- you gotta buy a lotta tickets. A look at the cross-section plan
of the Santa Eulalia West camp, a similar type of deposit to Koala,
illustrates just how lucky a company would have to be to hit on only one
drill hole. Magna's management is pleased with the drill program's
progress to date as are their JV partners, NovaGold. There is a strong
possibility that NovaGold will come to the table with the $$ for more holes
after the initial 2000m program.
Hole #2 is complete now - to
458m (that's 375 vertical) It was supposed to be better than #1 so we will
have to wait and see. #3 will be underway shortly, 400m west of #2. cheers, jerry
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