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Gold/Mining/Energy : SUDBURY AREA AND THE PGM PLAY -- Ignore unavailable to you. Want to Upgrade?

To: Scripts who wrote (25)	9/23/1999 12:54:00 PM
From: Just G	Read Replies (1) \| Respond to of 349

An update for cva/pfn To: John E.Quinn (0 ) From: Robert Douglas Hickey Thursday, Sep 23 1999 10:50AM ET Reply # of 641 Consolidated Venturex Holdings Ltd. Announces Sargesson Lake (Janes Township) and Davis-Kelly Property Update. (Press Release, Sept 23/99) Consolidated Venturex Holdings Ltd. ("CVA") has received summary reports on the work recently completed on properties in the Sudbury area of Ontario which are subject to a joint venture agreement with Pacific North West Capital Corp (PFN-ASE). Work was carried out for the companies by JB Exploration & Development (the "Consultants"), a group with a background of strong local expertise. Results to date have encouraged CVA to proceed with programs to drill test the Sargesson Lake (Janes Township) and Davis-Kelly Township properties. Drilling will be carried out after a short follow-up program to check extensions of copper, nickel and Platinum Group Metals ("PGM") identified thus far, and will start in approximately three weeks time. Mapping and surface sampling on the Davis-Kelly property indicates the presence of a gently dipping, sheet-like body of mineralization comprised of disseminated and bleb sulphides extending over a distance of nearly 1,200 meters. On the main showing, surface samples returned values up to 6.3 g/t PGM. Property-scale sampling of the Nipissing Diabase body, as reported by the Consultants, shows strongly anomalous copper and nickel values with up to 3.3 g/t PGM. This indicates that this part of the Nipissing rocks is carrying excess metal which has good potential to be concentrated into economic and mineable deposits. Ongoing sampling and mapping on the Sargesson Lake property has confirmed the occurrence of PGM values in association with copper and nickel sulphides. Sulphide mineralization was intersected in an eight-hole drill program carried out by previous operators in the 1960's. Reported copper values ranged from 0.08% to 0.80% (average 0.36%), and nickel values ranged from 0.07% to 0.74% (average 0.19%). The sulphide mineralization drill intercepts, approximated to true thickness, have a maximum width of 4.6 meters (15 feet). No PGM assays were reported from this previous work, but the correlation of copper and nickel sulphides to PGM in surface samples indicates good potential for PGM values at depth. Pacific North West Capital is also carrying out exploration for copper, nickel and PGM mineralization in Janes Township with Kaymin Resources Ltd., a wholly owned subsidiary of Anglo American Platinum Corporation Ltd. (AMPLATS). Drilling from this work returned highly encouraging results, as reported by PFN June 2 and July 5, 1999 including: 1.55m of 6.71 g/t PGM and 0.63% Cu+Ni 3.08m of 9.03 g/t PGM and 2.11% Cu+Ni 15.05m of 3.10 g/t PGM and 1.35% Cu+Ni The geological environment of these intercepts is believed to be similar to that being explored by CVA and PFN in the Sargesson Lake and Davis-Kelly properties. More than 70% of the world's Platinum Group Metals are produced in Russia, mainly from the remote Noril'sk Complex and in South Africa, from the Bushveldt Complex. PGM's have unique chemical and physical properties and are in great demand for jewelry, auto catalysts and other industrial uses. Recent spot prices (Sept 21/99) were Platinum US$381.00 and Palladium US$365.00 per ounce. (Signed) Benjamin Ainsworth, Director