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

To: Kent C. who wrote (1089)	11/26/1997 1:41:00 PM
From: Kent C.	Read Replies (2) \| Respond to of 1829

Just my opinion.... I think the release is very encouraging (the market doesn't seem to agree with me). This release caught the market off guard. I definately didn't expect it this morning, and some people in the market did not fully understand it's significance. The key part of the release to me was: ...in the first 80 feet of core, disseminated chalcopyrite-pyrrhotite-pentlandite mineralization on the gossan zone... Chalcopyrite = host rock for copper Pyrrohotite = host rock for ? Pentlandite = host rock for nickel Encouraging news, we just need the mineralisation to continue and get some decent assays back from the lab. 80 Feet is VERY shallow, and decent grades could lead to something very significant. It is still too early and highly speculative, but some decent grades over a good strike length could prove up an economical mine. By my memory: Diamond Fields averaged around 2-3% Ni and that was economical at VERY DEEP levels, as a rule of thumb the magic number for Nickel is 1% for economical grades, but at 80 feet???? It seems that GYR will be drilling later into the winter which may spur the price and/or maintain market strength. ;-) Just my thoughts. Cheers, Kent

To: Kent C. who wrote (1089)	11/26/1997 1:42:00 PM
From: Terry J. Crebs	Read Replies (1) \| Respond to of 1829

Sounds like Gallery is concerned that Phoenix Geophysics' previous MT and/or Borehole-EM interpretations are suspect, and has hired Lamontagne Geophysics to re-survey/re-interpret to confirm or disprove the off-hole stronger mineralization potential. This is not a favorable development. Sadly, it appears that Gallery has no on-staff geophysicist and is depending on contractors to acquire and interpret its geophysics; worse, it appears to me that Gallery's geologic staff may have little experience on how to integrate their assay, mineralogical, petrological, and geophysical data-sets. Gallery's Okak results-to-date do not look very pretty.