UNIVERSAL VENTURES ACQUIRES ADDITIONAL PROPERTIES NEAR GOLD RIVER
Universal Ventures Inc. has acquired a 100-per-cent interest in two claim groups situated west of the existing TIB property near Gold River, B.C.
The Numa 1 claim is 1,314 hectares in size, situated on Vancouver Island in the Alberni mining division, near the head of Tlupana Inlet, 21 kilometres west of Gold River. It covers a large area of molybdenum mineralization found in 1981 after regional stream sediment geochemical surveys found anomalous molybdenum in seven streams draining the area. According to Minfile (No. 092E062), molybdenite is found over an area of 1,000 by 700 metres in tight joints and fractures and along k-feldspar-altered quartz-vein margins in intrusive rocks. Some chlorite and epidote alteration is present in fractures, along with pyritization.
The Octo claim of 728 hectares is situated on Oktwanch River approximately 10 kilometres north of the Numa 1 claim. It holds the Oktwanch Minfile occurrence (No. 092E019) Three lens of massive magnetite with garnet epidote skarn are present. The largest of these lens is 27 metres long and one metre wide and contains traces of chalcopyrite. Interpillow mineralization similar to that at the nearby TIB property (under option to Universal) was also described.
An initial program of prospecting and mapping will be considered for each property.
This press release has been reviewed and approved by Barry J. Price, MSc, PGeo, a qualified person, director of the company.
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