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Gold/Mining/Energy : Gallery Resources (Alberta GYR) -- Ignore unavailable to you. Want to Upgrade?

To: mabo who wrote (1088)	11/26/1997 12:17:00 PM
From: Kent C.	Read Replies (2) \| Respond to of 1829

Here is the complete (non-stockwatch edited) version of the News Release: 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: Nov. 26, 1997 OKAK BAY UPDATE FAVOURABLE DRILLING AT HARP LAKE Gallery Resources Ltd., of Vancouver, B.C. reports that its 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 4915 feet. 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, Ont., 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 feet of heavily disseminated copper-gold-silver-nickel-cobalt enriched mineralization (see news release dated Nov.5, 97) 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 underway in central Labrador, 160 miles south of Okak Bay. Drilling progresses favourably at Harp Lake The Company reports that its short hole drilling program at the Harp lake 2 Project is underway and progressing favourably. The first two holes of the drill program designed to test the area of a shallow, very 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 feet 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 very 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 very positive results. Drill core will be sent for assay as drilling continues. Bruce E. Costerd President & C.E.O. FOR MORE DETAILED INFORMATION, PLEASE SEE OUR WEBSITE: gallery-gold.com OR CONTACT INVESTOR RELATIONS; TOLL FREE CANADA & U.S.A. 1-800-565-7350