Galway Provides Update on Personnel for its Ongoing Gold Initiative in Colombia
TORONTO, Aug. 2, 2011 /CNW/ --
TORONTO, Aug. 2, 2011 /CNW/ - Galway Resources Ltd. (GWY: TSX-V) is pleased to provide an update of its personnel and technical team
involved with the Company's gold exploration initiative in Colombia.
Our primary projects are the California and Vetas gold projects,
located in northeast Colombia, with drill programs occurring at both.
There are 3 drill rigs operating at the California property, located
adjacent to and along strike with the La Bodega/La Mascota deposit
(acquired for $1.5 billion in cash by AUX Canada). Galway also owns a
360 meter-long fractional land position that appears to be directly
within the La Mascota mineralized structure. Drilling at Vetas began in
the second quarter, with 2 rigs operating at the high-grade El Volcan
gold-silver mine, which is located 8 km southeast of California and is
the largest gold producer in the region.
'We are extremely pleased to add depth to our personnel as we advance
our gold projects. As can be seen in the following headlines from our
most recent two press releases on California drill results, and the
first ever release of drill results from the Vetas gold-silver project,
results from both projects have been very encouraging. We look forward
to continued success as we advance what we believe to be highly
prospective gold projects in Colombia,' states Robert Hinchcliffe,
President and CEO of Galway Resources.
-- Galway's best gold intersect yet: 26 m of 129 g/t and 21.5 m of
8.5 g/t in one hole, and 92.5 m of 2.9 g/t and 114 m of 1.1 g/t
in another from California gold project in Colombia
(July 21, 2011)
-- Galway intersects 97.0 m of 3.0 g/t gold, 86.0 m of 2.7 g/t
gold and 13.0 m of 9.0 g/t gold from California gold project in
Colombia
(July 14, 2011)
-- Galway intersects 21.9 g/t gold over 6.7 m, 82.4 g/t gold over
2.7 m and 9.7 g/t gold over 9.4 m from Vetas gold-silver
project in Colombia
(June 22 , 2011)
Personnel and Technical Team Update
Galway is pleased to announce that Mr. Alfonso Gómez Rengifo has agreed
to join its Board of Directors. Mr. Gómez has over 30 years experience
working in the resource sector, holding various positions with
prominent international mining companies in Colombia. Mr. Gómez has
been with the Company since 2006 and is currently the Colombia Country
Manager, in charge of the Company's efforts in Colombia regarding
financial, legal, permitting, environmental and community affairs among
other areas. Before joining Galway, Mr. Gómez was Vice President of
Operations for Prodeco and Vice President of Public Affairs for
Carbones del Cerrejon, Latin America's largest coal producer and owner
of one of the largest open pit coal mines in the world, producing 35
million tons per year. Mr. Gómez has a Bachelor of Arts, Economics,
from El Rosario University, Bogota, Colombia, and a Master of Arts,
International Commerce, from I.C.E. Instituto per il Commercio Estero,
Rome, Italy. Mr. Gómez is also an honorary member of the board of the
National Federation of Colombian Coal Producers - Fenalcarbon. In
addition to speaking Spanish, Mr. Gómez is fluent in both English and
Italian.
In May of 2011, Galway opened an office in Bucaramanga and hired Mr.
Carlos Andrés Palacios as Environmental, Health and Safety Manager
(HSE). Prior to joining Galway, Mr. Palacios acted as contractor and
environmental engineer for the CDMB (governmental environmental agency)
and was responsible for all environmental matters concerning the
handling of water. Mr. Palacios is also an expert on environmental
licensing - evaluation and management of waste materials across
industries. Mr. Palacios has a Bachelor of Science, Environmental
Engineering, from Pontificia Bolivariana University, Santander,
Colombia.
Galway is also pleased to announce that Mr. Mark Pfau has joined its
Gold Advisory Committee. Mr. Pfau is an international geologist
specializing in designing and managing exploration programs with a
specialty on designing work programs aimed at resource optimization.
Mr. Pfau has more than 25 years experience working with both senior and
junior exploration companies throughout the world. He is a Registered
Professional Geologist and Qualified Person under the guidelines set
out in NI 43-101. Mr. Pfau has a Master of Science, Geology, from the
University of Idaho, a Bachelor of Science, Geology, from the
University of Montana, and a Bachelor of Arts, Geography, from the
University of Montana, and is fluent in Spanish.
Mr. Alex Cruz has been promoted to Project Manager for the Vetas
gold-silver project. Mr. Cruz is an experienced Exploration Geologist
with over 20 years of field experience with junior Canadian mining
companies in Latin America. He has conducted exploration programs on
the principal metallogenic belts in Colombia, Ecuador and Mexico. Of
note, Mr. Cruz held the position of Vice President of Exploration and
Mine Development with Oromonte Resources Inc. where he designed and
implemented the exploration programs that led to the discoveries of the
Tundaya Cu-Mo-Ag-Au porphyry, and the Chimbutza Au-Ag hydrothermal
breccia systems, both located in Ecuador. He also worked as Senior
Geologist with Aurelian Resources in the discovery of the world-class
Fruta del Norte epithermal gold-silver deposit in 2004-2005, and in
2006 was Sr. Project Geologist with Cornerstone Resources responsible
for the Shyry diatreme gold project. Mr. Cruz has a Bachelor of
Science, Geology, from Universidad Central, Quito, Ecuador.
Mr. Dale Schultz, of Buscore Consulting Ltd. has been providing support
as consulting geologist for the Vetas project for the past thirteen
months, and has agreed to a 1-year contract extension that Galway
recently completed with his firm. Mr. Schultz has over 20 years of
experience and Buscore Consulting Ltd. has helped to discover and
develop multiple precious and base metals prospects throughout the
Americas. Over the past decade, Buscore's highly experienced team of
exploration specialists from Canada, U.S.A., Britain, Belgium, Germany
and South Africa have managed a series of mineral exploration and
development projects in Latin America, most notably throughout Ecuador
and Peru, as well as in Paraguay, Bolivia, Colombia, Nicaragua,
Honduras and Mexico. Mr. Schultz has a Bachelor of Science, Advanced
Geology, and a Master of Science, Geology, from the University of
Saskatchewan, Saskatoon.
About The Company
Galway Resources is a well-capitalized company, primarily focused on the
exploration of gold and coal Colombia. The core focus of the Company is
gold exploration in northeast Colombia, with drill programs occurring
at the California and Vetas gold projects. The Company also has the
Victorio molybdenum-tungsten project, with excellent infrastructure, in
southwestern New Mexico. A positive scoping study was completed by SRK
in 2008. The recent surge in tungsten pricing, coupled with a steady
molybdenum price, has prompted management to reassess strategic
alternatives to advance the Victorio project.
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.
Forward Looking Statements:
Forward-Looking Statements: Statements in this release that are
forward-looking statements are subject to various risks and
uncertainties concerning the specific factors disclosed under the
heading 'Risk Factors' and elsewhere in the Company's periodic filings
with Canadian Securities Regulators. Such information contained herein
represents management's best judgment as of the date hereof based on
information currently available. The Company does not assume the
obligation to update any forward-looking statement.
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Galway Resources Ltd.
Investor Relations
1-800-475-2412
www.galwayresources.com