March 3, 2005
Comcorp Ventures Inc. (the “Company”) today announced that it has completed a program of excavator trenching and geophysics on the Royal Attwood property, situated 8 kilometres southeast of the former Phoenix copper-gold skarn deposit in Southern B.C. Exploration to date on the Royal Attwood property has been directed at copper-gold skarn mineralization at the Wolfard showing. Seven trenches, totalling 455 lineal meters, were dug. Trenching showed that the skarn mineralization occurs as a relatively flat lying, 1 to 3 meter thick blanket above or adjacent to a large granodiorite plug and/or above a feldspar porphyry sill. Large portions of the skarn blanket have been removed by erosion, and only remnant scabs of the mineralized blanket remain in the Wolfard area. Copper values were consistently elevated within the skarn, averaging 0.46% Cu, however mineralization has a limited extent and gold and silver values are generally low.
Near the lower Wolfard adit, trenching uncovered a north trending, steeply dipping zone of epithermal quartz veinlets and hydrothermal breccia. The zone exceeds 3 meters in width and is comprised of grey silica veinlets and hydrothermal breccia with bleached, argillic altered feldspar porphyry clasts in a grey silica matrix. Although samples from the epithermal zone failed to return anomalous gold or silver values, regionally, epithermal quartz veins and breccia zones are an important source of gold mineralization in the district. The Company believes further exploration is warranted for this type of mineralization.
Ten line kilometres of 2D induced polarization and ground magnetometer survey was completed on the property during 2004, under contract by Scott Geophysics of Vancouver. A strong, north trending chargeability high/resistivity low was identified in the southeastern part of the grid which in part corresponds to the epithermal zone uncovered during trenching. This anomaly is 950 metres long, open to the south, and corresponds with an abrupt change in the magnetic response. It likely represents a north-trending fault zone and may be particularly significant given its relationship to the epithermal zone uncovered during trenching. The strongest portion of the anomaly is situated several hundred meters south of the trenched zone, in an area with no previous exploration. This is a high priority for follow-up. Several other chargeability anomalies were also identified by the 2004 program that similarly require follow-up.
The work program was under the supervision of independent consulting geologist Linda Caron, M.Sc., P.Eng, a qualified person as defined by National Instrument 43-101, who has also reviewed and approved this disclosure. More detailed information on the Company’s Royal Attwood Property and work done thereon is disclosed in a technical report prepared by Ms. Caron, a copy of which is available for review by interested parties at www.sedar.com.
The Company is now reviewing the results of the 2004 work program and possible areas identified for follow up exploration to determine what exploration activity should be next undertaken on this property.
COMCORP VENTURES INC.
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