Big Onion drilling under way
Consolidated Magna Ventures Ltd CMV
Shares issued 21,484,464 Sep 29 close $0.11
Wed 30 Sept 98 News Release
Also Gladiator Minerals Inc (GLM)
Mr. Robert Archer reports
A 1,000-metre diamond drill program has commenced at the Big Onion project
near Smithers, B.C.
The Big Onion is a well-known porphyry copper deposit that was explored in
the 1960s and 1970s by Noranda, Texas Gulf Sulphur, Cyprus Anvil, Canadian
Superior and Varitech Resources. Previous work has included geological,
geochemical and geophysical surveys, 58 diamond drill holes and 67
percussion drill holes. From this work, a geological resource of
approximately 80 million tons grading 0.45 per cent Cu and 0.02 per cent Mo
has already been identified on the northern claims. A significant portion
of this mineralization is recognized as being within a zone of supergene
enrichment which may be amenable to lower cost solvent
extraction-electrowinning (SX-EW) processing.
The majority of previous exploration was conducted on the northern group of
claims, as a northwest-trending, crosscutting fault was believed to
terminate the mineralization to the southwest. Only limited drilling was
carried out beyond this fault and an extension to the mineralization was
never encountered.
The aim of the 1998 program at Big Onion is to identify new zones of copper
mineralization which have the potential to increase the size of the known
porphyry copper deposit. Pole-dipole IP and ground magnetic surveys were
completed by Magna this past summer, over the southern portion of the
property, in order to redefine anomalies obtained in the 1960s which were
never drill tested. Several large chargeability anomalies have been
outlined, some with coincident magnetic highs, which correlate well with
the 30 year old surveys. The current six-hole diamond drill program is
designed to test these anomalies for indications of additional porphyry
copper mineralization. Gladiator Minerals is financing the $200,000
program, as part of its option to earn a 50 per cent interest in the
property. Magna is the operator.
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