Galore Resources Inc.
TSX VENTURE : GRI

Galore Resources Inc.

December 06, 2011 09:00 ET

Galore Drills High-Grade Gold Near Surface at El Alamo

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 6, 2011) - Galore Resources Inc. (TSX VENTURE:GRI) is pleased to announce gold assay results from 15 holes of its ongoing shallow percussion drill sampling program on the El Álamo claim, part of the Company's 100% owned Dos Santos project in the Mazapil-Camino Rojo trend of the Concepción del Oro district in Zacatecas, Mexico.

The best assay results received from the first 15 of 35 holes include:
Hole A33 9.39 g/t gold over 4 metres starting at surface.
Hole A25 4.47 g/t gold over 12 metres starting at 20 metres depth
including 6.57 g/t gold over 8 metres, from 24-32 metres.
This hole ended in mineralization (0.62 g/t gold over 2.0 metres).

The results are very significant as they demonstrate the mineralized system found in the surface trenching extends to depth and the gold potential is open to expansion. The on-going drill program will assist in defining the geometry of mineralization, the extent of the shallow high-grade mineralization and the plan for further drilling.

Assay results to-date are as follows:
Hole Depth in metres Average grade of gold per tonne
A20 0.00 - 5.37 5.37 m ave. 0.46 g/t
A22 11.47 - 23.67 12.2 m ave. 0.31 g/t
A23 0.00 - 5.35 5.35 m ave. 1.75 g/t
A24 no significant intercepts
A25 24.00 - 32.00 8.0 m ave. 6.57 g/t
Or 20.00 - 32.00 12 m ave. 4.47 g/t
A26 0.00 - 2.48 2.48 m ave. 1.49 g/t
A27 no significant intercepts
A28 0.00 - 2.00 2.00 m ave. 0.14 g/t
A29 14.00 - 18.00 4.0 m ave. 1.10 g/t
A30 no significant intercepts
A31 11.45 - 14.50 3.05 m ave. 0.13 g/t
A32 hole aborted at 7 m
A33 0.00 - 4.00 4.0 m ave. 9.39 g/t
A34 10.00 - 18.00 8.0 m ave. 0.17 g/t
A35 9.20 - 18.35 9.15 m ave. 0.22 g/t

The percussion drill rig can only drill vertical holes. All intercepts reported are drilled width and true widths cannot be determined until the dip and geometry is better understood. It is anticipated that the geological interpretation will be better understood when results from a recently conducted high-resolution ground magnetic survey covering El Álamo and other claims on the Dos Santos property are received.

Drilling was done using a conventional track-mounted percussion drill to minimize construction access difficulties in steep terrain at El Álamo and to execute the drilling independently and cost-effectively. The drill rig is rented and operated by Galore personnel.

"These initial gold results are very encouraging for Galore and we are eager to receive the next round of assays from the drilling. The El Álamo claim is 100% owned by Galore and is surrounded by major mining companies that have made significant gold discoveries. These preliminary gold results have increased the possibility that we are working in the right direction, towards a potential discovery." says Michael Byrne, President.

The map below indicates gold grades and drill holes in relation to trenching locations:

To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/GRI0612map.pdf.

The El Álamo program was designed to follow-up previously announced trench results. Drilling was on 30-metre spacing to depths of about 30 meters, to help determine the size and shape of the mineralization, to plan for deeper drilling and to test the near-surface potential indicated in the trenches.

Assay results for all active drill holes will be reported when available. Drilling is presently underway on the remaining western portion of El Álamo to test previously announced trenching results. This portion of the drill program is scheduled to be completed by mid-December.

Samples were crushed and pulverized at ALS-Minerals' sample preparation facilities in Zacatecas, Mexico and fire assayed by ALS method AuAA-25 in Vancouver, Canada. Galore's QA/QC protocol includes check assays totaling about 10% of each shipment, apart from ALS internal checks, reference material "standards", blanks and duplicate pulps, as well as raw sample field duplicates are inserted in each lot of 40 samples before shipping to Vancouver for analyses.

The Dos Santos exploration program is managed by Ing. Octavio Gonzalez V.P. Exploration for Mexico, and Terry Brown as Galore's Qualified Person as defined by NI 43-101 has reviewed and approved the contents of this News Release.

Michael Byrne, President

Explore. Drill. Discover.

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.

Contact Information

  • For progress updates and queries on Galore Resources
    contact: Galore Resources Inc.
    Erica C Bearss MBA, Vice President Corporate Communications
    604-647-2298
    Toll Free: 1-877-647-2298 or Cell: 604-374-1107
    ebearss@galoreresources.com / www.galoreresources.com