-- Posted Wednesday, 5 October 2011 | | Disqus
Vancouver, BC: Galore Resources Inc. (GRI-TSX-V) announces the next phase of exploration at its 100%-owned 15,960-hectare Dos Santos Gold Project in the Mazapil – Camino Rojo trend of the Concepcion del Oro mining district. Galore has contracted Geofisica, TMC, S.A. de C.V., through its Mexico-based subsidiary to conduct a high-resolution ground magnetic survey over its two most-promising gold projects; El Álamo and Los Gemelos. Geofisica is expected to commence the initial survey in ten days and data will be collected over a two-week period.
In conjunction with previously released trenching results and geologic mapping, the magnetic survey is expected to better define subsurface geologic features and refine deeper drilling targets. Based on identified drill targets, Galore will execute shallow, close-spaced drilling at El Álamo with a conventional track-mounted drill rig. Deeper drilling may commence as targets are defined by the magnetic survey. The specific details of the drill program will be announced after the results of the magnetic survey are complete.
The initial survey lines will be completed on 200-metre spacing and readings will be taken every 12.5 metres for a total of 75 line kilometers. Infill lines at 100-metre spacing will be surveyed, if justified to better resolve drilling targets. The main emphasis of the magnetic survey will be the El Álamo and the Los Gemelos gold targets. In addition to the El Álamo and the Los Gemelos gold targets, a significant portion of unexplored ground will be surveyed and, therefore, new targets may be encountered in areas covered by alluvial gravels.
El Álamo Project:
Galore has completed extensive trenching and geological mapping at El Álamo with encouraging gold assays. The best results include 54 meters of 0.97 g/t gold. It is interpreted that the main area of gold mineralization at El Álamo measures over 500 metres long and up to 110 metres wide. The mineralization remains open at depth and in at least two directions. It is also known that a deeper intrusive body underlies at least part of the San Jose – El Álamo gold trend. The magnetic survey is designed to define the sharp magnetic contrast between the carbonate sediments and igneous intrusives and is expected to confirm the extent of potential mineralization associated with the buried contact zones.
Los Gemelos Project:
“Los Gemelos” (The Twins), is a pair of hills protruding above the desert pediment with no other bedrock exposures nearby. There is an old mill site and both hills have scattered diggings where artisanal mining exploits free gold from near surface exposures of skarn mineralization and gold veins associated with igneous intrusives in contact with carbonate sediments. Galore conducted limited trenching in 2008 at Los Gemelos with assay results up to 34.3 g/t gold over 1.7 metres. Although Los Gemelos requires further exploration to identify potential gold findings it continues to be mined by artisanal miners who recover coarse free gold by panning hand-crushed vein material. Due to limited bedrock exposure at Los Gemelos, the magnetic survey will provide valuable geological information below the twin hills and especially the pediment covered surroundings for the follow-up drill program.
The Dos Santos exploration program is being run by Ing. Octavio Gonzalez, as Galore's Vice-President of Exploration for Mexico and managed by Terry Brown who was recently appointed as VP Exploration for the company, Brown is Galore’s Qualified Person as defined by NI 43-101 and has approved this News Release.
Galore Resources is a British Columbia-based exploration company that has assembled a leading group of industry professionals to acquire and explore for promising deposits with an emphasis on gold in Mexico and base metals in British Columbia.
Michael Byrne
President
For progress updates and queries on Galore Resources Inc. (TSX.V: GRI) please contact:
Erica C Bearss, MBA
Vice President Corporate Communications
Email: ebearss@galoreresources.com
Tel.: 604-374-1107
Skype: 1-206-388-2423
Toll Free: 1-877-647-2298
Fax: 604-647-0086
Cautionary Note Regarding Forward-Looking Information: The Company expressly warns readers not to rely on the information herein for investment or other related purposes. Accordingly, any use of this information is at your own risk and without liability to the company. The information contained herein is not, and under no circumstances is to be construed as either a public or a private offer or solicitation to purchase securities in the capital stock of Galore Resources Inc. The reader is referred to his/her professional investment advisor regarding investment or related decisions respecting the securities of the company. No securities commission or similar regulatory authority has passed on the merits of or reviewed the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
-- Posted Wednesday, 5 October 2011 | Digg This Article
| Source: GoldSeek.com
