Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Donner Minerals (DML.V) -- Ignore unavailable to you. Want to Upgrade?

To: VAUGHN who wrote (785)	10/31/1997 5:47:00 PM
From: VAUGHN	Respond to of 11676

To All News Release from Gallery that may be of interest: GALLERY RESOURCES LIMITED ANNOUNCES OKAK BAY DRILLING CONTINUES AND HARP LAKE DRILLING COMMENCES VANCOUVER, B.C.-- GALLERY RESOURCES LIMITED Suite 707 - 626 West Pender Street Vancouver, B.C. V6B 1V9 Telephone: (604) 662-8119 Facsimile: (604) 662-8616 Website: gallery-gold.com Email: info@gallery-gold.com Canada and U.S.A. Toll Free 1-800-565-7350 ____________________________________________________________ Trading Symbol "GYR" - ASE For Immediate Release: Oct.31, 1997 OKAK BAY DRILLING CONTINUES AND HARP LAKE DRILLING COMMENCES Favorable operating conditions at Gallery Resources (GYR-ASE) Okak Bay and Harp Lake drill programs in northern Labrador is allowing the company to achieve its 1997 work objectives. Mr. Bruce Costerd, President of Gallery advises that he is very pleased with th progress being made and anticipates that the work programs at both project sites will extend through mid November or later weather permitting. At Okak Bay, Drill Hole OK-M1 started on October 5, is presently at a depth of 4185 feet and is maintaining a daily drilling rate of 150 feet. With this high production rate the Company projects that the drill hole, which is targeted for a final depth of over 5000 feet, will be completed on schedule on or around November 10. Project geologist, Victor French reports that the first set of assay results representing 57 samples taken from a heavily disseminated sulphide intersection at 1605 to 1810 feet will be available on Tuesday, November 4. These samples are being assayed for gold, nickel, copper and cobalt at Eastern Analytical Laboratories in Springdale, Newfoundland. Platinum and palladium analysis are also being conducted but these results will not be available until later in November. The drill continues to cut favorable rocks for hosting nickel-copper sulphide mineralization and it is anticipated that the next few days will see further developments. The Company also is pleased to report that drilling commencing this weekend on its Harp Lake 2 property 100 miles south of Okak Bay. A Boyles JKS300 drill rig is under contract from Cartwright Drilling of Goose Bay, Labrador, to complete a planned 4 hole - 2000 ft. drill program. This program is designed to test both the strike and down dip extensions of a strong conductor identified during a recently completed max-min (HLEM) survey. Mr. French advises that based on the interpretations of the survey results he expects to intersect the source of the conductor at approximately 35 feet below the surface where surface sampling yielded up to 0.6% nickel, 0.65% copper and 0.12% cobalt. Mr.French further reports that work crews are operating from a fishing lodge located in the immediate area and that logistics have greatly improved in being able to access this facility as a base camp of operations Hole HL-1, the first of four (4) holes being drilled should be completed down to a target depth of 500 feet by Wednesday of next week. _____________________ Bruce E. Costerd President & C.E.O. Regards