Gallery Resources Limited: Major Mineral Belt Potential Identified on Gallery's Katie Property
VANCOUVER, BRITISH COLUMBIA--Gallery Resources Limited (GYR: TSX.V) of Vancouver, B.C. is pleased to announce that it has received further positive assay results from the latest round of drilling on its Black Bart Katie Project located in the Botwood Basin, central Newfoundland.
These results are highlighted by the intersection of a 30 ft. thick, zinc enriched VMS zone, "The Tall Tree Zone" (TTZ), located 7,550 ft. south of the initial discovery of VMS mineralization at the Black Bart Prospect. This zone contains an average grade of 0.60% zinc and up to 0.43 g/t of gold, which is hosted in low sulphides (visually estimated at a maximum 2%) and therefore, higher concentrations of sulphides, when encountered, should yield much higher zinc and gold grades proportionately.
Also highlighting the latest results are the remaining assays from all five holes, which intersected a zone of epithermal veining and VMS mineralization. The results from this zone, referred to as "The McDonald Zone"(MZ), confirm widespread enrichments in gold, silver, zinc, lead and copper with metal values recorded in most of the 61 (1 to 3 feet) samples selected for assaying. Gold mineralization is very widespread, with thirty-six (36) of these samples containing assays up to 2.52 g/t gold, associated with both epithermal and VMS mineralization.
Significant results have been obtained from the last hole, drilled at the McDonald Zone (MZ). This hole also cut the epithermal and VMS style mineralization. Eight of ten samples selected to a vertical depth of 460 ft. contained gold mineralization up to 0.65 g/t, zinc up to 0.12%, lead up to 0.23% and silver up to 13.0 g/t (0.42 oz/t). The MZ has now been intersected over an area measuring at least 1,640 x 738 ft and down to a vertical depth of 460 ft.
The latest round of drilling has achieved the objectives of demonstrating both the extensive development and close relationship of the epithermal and VMS mineralization. Drilling to date has outlined four mineralized zones, located along a 1.7 mile section of what is emerging to be a potentially significant mineralized belt, now referred to as "the Burnt Hill Belt".
During the next few weeks Gallery's field crew will be carrying out both research and field investigations to map out the next phase of exploration work. Field work will commence next week with geochemical sampling using the Mobile Metal Ion (MMI) technique to assist in delineating priority drill targets. Planned fieldwork will also focus on detecting new drill targets at other areas north and south of the four main mineralized zones identified to date. For the latest update on the results of the recently completed drill program and to view representative core samples, please visit Gallery's website at http://www.gallery-gold.com.
Bruce Costerd, President & C.E.O.
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FOR FURTHER INFORMATION PLEASE CONTACT: Gallery Resources Limited Investor Relations (604) 662-8119 or Toll Free Canada & USA: 1-800-565-7350 (604) 662-8616 (FAX) Email: info@gallery-gold.com Website: www.gallery-gold.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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