World Ventures Inc. Retains Royalty Interest in Extensive Molybdenum, Tungsten, Gold, Lead-Zinc Discovery in British Columbia
Posted on: Wednesday, 1 February 2006, 09:00 CST
Ray Carson, president of World Ventures Inc. (OTCBB:WVNTF) is pleased to provide shareholders an update on a recent discovery which could have significant economic impact on World Ventures Inc. Recent press releases by Sultan Minerals Inc. of Vancouver British Columbia, Canada, with results from their ongoing exploration activities on the Jersey-Emerald property near Nelson, British Columbia have demonstrated a large exciting molybdenum discovery. World Ventures Inc. holds a 1.5% NSR (net smelter royalty) interest in the Jersey-Emerald property.
Results of a recent 12 hole drill program by Sultan show that all 12 holes intersected molybdenum mineralization over a 1000 foot long zone beneath the East dodger Zone of the historic Jersey-Emerald tungsten mine. Most recently an additional hole, a 3000 foot step-out, encountered a 682 foot intersection of molybdenum mineralization and bottomed in mineralization at 1032 feet. The reader is referred to Sultan Minerals Inc. website (www.SultanMinerals.com) and press releases for details of this exciting molybdenum discovery that appears to have bulk tonnage potential.
In addition to the molybdenum exploration target, Sultan Minerals Inc. has outlined exploration targets for three other major mineral types within the property covered by World Ventures royalty interest. As summarized in a report dated Jan. 18, 2006 by eResearch on Sultan Minerals Inc. these include 1/ a significant potential for additional tungsten mineralization beyond previously mined and existing remaining tungsten mineralization, and 2/ Gold mineralization of two types a/ stratabound bismuth-gold mineralization within sedimentary units and b/ sheeted quartz vein zones within the intrusive granitic stocks, and 3/ lead-zinc mineralization at deeper levels below previously mined historic Jersey lead-zinc orebodies as indicated by drill intersections in old drill data on the property from holes that penetrated the prospective Lower Jersey dolomite horizon
In addition to the major price increase for molybdenum, price escalation has also occurred in tungsten, lead and zinc, and gold since the royalty interest was created in 1993 upon sale of the property.
Management of World Ventures Inc. will monitor the future exploration results from this historic property to ascertain the potential economic benefit to its shareholders through this royalty interest.
Source: Business Wire
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