Mar. 24 - GYR.ASE - Gallery Resources Preparing for Early Work Program at Okak Bay
For Immediate Release:
March 24, 1999
Gallery Resources Preparing for Early Work Program at Okak Bay
Gallery Resources Limited (GYR:ASE) of Vancouver, B.C. is pleased to announce the results of a preliminary report received from Dr. Derek Wilton of Memorial University, St. John's NF. Gallery has retained Dr. Wilton to do a detailed research analysis on drill core from the Okak Bay project in northern Labrador. This research work is comparing the geochemical signatures of the mineralized zone at Okak Bay to the published information on the geochemistry of the Voisey's Bay Deposits.
There are several different components to Dr. Wilton's work which are required to determine the exact chemical make up of the Okak Bay mineralization. The first component of the study completed last week has produced very positive results which shows that the sulfur isotope ratios are typical of a true magmatic (or igneous derived) sulfur. Also, the values are within the range of the isotope ratios for disseminated sulphides from the Eastern Deeps ore body at the Voisey's Bay Deposits. Sulfur is the element which is required to combine with the nickel and copper in the igneous melt to precipitate the valuable nickel-rich pentlandite and copper-rich chalcopyrite minerals present at Voisey's Bay.
This very positive result is a further indication of the potential of the Okak Bay project to contain economic concentrations of nickel-copper enriched, Voisey's Bay Type mineralization. The samples being used by Dr. Wilton are from a thick zone of disseminated mineralization with values ranging up to 0.46% copper and 0.16% nickel. The mineralized zone has a minimum thickness of 20 metres (66 ft.) and covers an area at least 275 metres (900 ft.) wide along a North South strike length, which is open in both directions. This extensively mineralized zone is one of three drill targets outlined by geophysics surveys carried out on the property from 1995 - 1998.
A shallow very strong conductor detected during a borehole Pulse EM survey completed in December 1998 is the latest drill target to be outlined on the property (ref. Press Release Jan. 25/99). This conductor, which is the first shallow conductor detected on the Okak Bay property, has been prioritized for ground geophysics electromagnetic (EM) surveys. The purpose of these surveys is to outline the dimensions of the conductor, located at an estimated vertical depth of 50 metres (165 ft.) under a previously un-surveyed lake. The lake, which is presently frozen, will be covered by 10 kilometres of grid lines over which several types of EM surveys will be completed.
The company anticipates that the results of the surface surveys will be available in early May. These results will be used to direct the next drilling phase which, if necessary, can be carried out on the frozen lake up to early June. An early drill program can be facilitated with a Boyles 56 drill rig stored on site and a fully equipped base camp which has been maintained on the property.
Bruce E. Costerd
President & CEO
FOR MORE INFORMATION, PLEASE CONTACT: INVESTOR RELATIONS, GALLERY RESOURCES LTD., TOLL FREE CANADA & U.S.A. 1-800-565-7350
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