Nov. 26 - GYR.ASE - Okak Bay activities; drilling under way at Harp Lake 2 project
Gallery Resources Limited
Mr Bruce Costerd reports
Gallery's exploration programs at the Okak Bay and Harp Lake 2 properties, are progressing despite some interruptions due to equipment breakdowns earlier this month.
A field crew from Lamontagne Geophysics of Kingston, Ontario arrived at Okak Bay earlier this month to carry out an EM borehole survey of drill hole OK-M1 down to a depth of 4,915 ft. An electrical malfunction in the geophysics equipment which disrupted the survey has now been corrected. Mr Vic French, project geologist is confident that the survey will be completed this week.
The company is proceeding with this down hole survey to determine why a deep electrical conductor, outlined during a magnetotelluric survey completed earlier this season by Phoenix Geophysics of Toronto, Ontario, has not been intersected. This survey had outlined two conductive layers, a shallow, weak conductor shown to be stacked over a deeper, much stronger conductor. The first hole, OK-M1, intersected 205 ft of heavily disseminated copper, gold, silver, nickel, cobalt enriched mineralization corresponding to the location of the shallow conductor, but failed to intersect the deeper conductor.
The report of the final results of the down hole EM survey, to be interpreted by Lamontagne, will be made available when received by the company. Bruce Costerd, president and CEO, feels that the results from this survey will help determine future drilling activities. To expedite this program the drill contractor, Lantech Drilling of Dieppe, New Brunswick, has agreed to store its Boyles 56 drill rig on the property to resume the drilling program in the spring of 1998.
Due to more favourable weather conditions the company has decided to focus the remainder of this season's drill efforts at its Harp Lake 2 property currently under way in central Labrador, 160 miles south of Okak Bay.
The company's short hole drilling program at the Harp Lake 2 project is under way and progressing favourably. The first two holes of the drill program designed to test the area of a shallow, strong HLEM (horizontal loop electromagnetic) conductor has been completed.
Project geologist, Victor French, says that although significant sulphide mineralization was not intersected, both holes have intersected highly altered sections of gabbro and anorthosite conducive to hosting nickel-copper rich deposits.
In a recent development on Tuesday afternoon Mr French advised the company that a third hole presently being drilled has intersected, in the first 80 ft of core, disseminated chalcopyrite, pyrrhotite, pentlandite mineralization on the gossan zone. The drill hole is set up on the gossan zone which fringes the west side of the conductor. He is encouraged by these latest results and is confident that continued drilling will intersect the source of this conductor. He emphasizes that this class A type anomaly is a highly prospective target and anticipates that further drilling will produce positive results. Drill core will be sent for assay as drilling continues. |
