Galaxy is currently developing the 22 level access to the main Galaxy ore body. During development, the Company intersected the Golden Comet, a new mineralised zone which is located within the Galaxy - Giles - Woodbine structural corridor. The Company made the decision to undertake an exploration drive along the mineralised zone and develop westward for 45 metres 'on reef', until it terminated against a north-south trending dyke. The Golden Comet was intersected further to the east in the main 22 level Galaxy access development, and therefore the total indicated strike length of mineralised zone is approximately 100 metres. A review by Galane geologists of the extensive historical records at Galaxy has indicated that the Golden Comet can be structurally correlated to a historical development on 24 level, which was referred to as the South Lead. The historical development on 24 level is approximately 110 vertical meters below the current 22 level of development. Further work will be undertaken to confirm the details of the Golden Comet extension.
We do not believe that the Golden Comet will be the last new mineralised zone we will find and we are designing a thorough exploration program to be initiated once we have reached the Galaxy ore body.'
The Golden Comets geological characteristics are similar to that of the Woodbine and Giles reefs, which consist of narrow quartz-carbonate-pyrite veins and are developed within chloritised and silicified zones of shearing within siltstone host rocks. The mineralised development material was processed through the Galaxy plant and the metallurgical recoveries achieved were similar to those associated with the Galaxy orebody.
Channel sampling and QA/QC procedure
The objective of the channel sampling at the Golden Comet was to cut a linear channel 90 across the vein or orebody in order to obtain the most representative sample possible for a designated interval. The sampler recorded sampling information relating to the Golden Comet including the mine name, workplace and peg to face measurement, and face width, and also prepared a sketch of the face showing basic geology, sample section and sample intervals. The sampler also offset the sidewalls, every 2 meters, 10 meters behind the face, and the sample section was marked 0.5m below grade line. Standardized sampling directions and ideal sample lengths of +/-1 meters for waste development sidewalls and +/-0.5m for ore drive faces were adhered to, in order to maintain consistency in the channel sampling.
The sampling interval was also taken after every blast in an ore drive, at an interval of between 3 meters and 6 meters in an ore. Sidewalls of cross cuts accessing the reef were also sampled. A standard channel sample cut consisted of two parallel lines 30mm apart and 15 mm deep. Sample intervals were then marked across the channel cut and overlapped the hangingwall and footwall reef contact by 2 cm into the waste. At least 50% of the material between the two cuts must be chiseled out. Material was collected on a sample tray and any contamination from outside of the cut lines was discarded. Each sample was individually bagged and tagged with the sample number. A random sample number was reserved for a standard and a blank for each sample section/face was inserted for QA/QC.
Laboratory QA/QC
The laboratory employed standard controls and checks. All samples carried duplicate ticket numbers. On average, every fifteenth sample was repeated as an inline duplicate, which also checked for errors and gaps in the sample sequence. The layout of pots and cupels in the furnace was marked with a copper pattern key to avoid errors in orientation. Should an error arise in this procedure, the entire batch was re-assayed.
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Cautionary Notes
Certain statements contained in this press release constitute 'forward-looking statements'. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company's future financial position and results of operations, strategy, proposed acquisitions, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words 'believe', 'expect', 'aim', 'intend', 'plan', 'continue', 'will', 'may', 'would', 'anticipate', 'estimate', 'forecast', 'predict', 'project', 'seek', 'should' or similar expressions or the negative thereof, are forward-looking statements. Forward-looking statements in this press release includes statements made herein with respect to, among other things, the Company's objectives, goals or future plans, exploration results, potential mineralization, and exploration and mine development plans. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.
Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to: the Company's dependence on two mineral projects; gold price volatility; risks associated with the conduct of the Company's mining activities in
Contact:
Tel: 44 7905 089878
Email: Nick.Brodie@GalaneGold.com
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