Press Releases
2008-04-25 08:16:56
Galena Commences Drilling on Melissa Project
Galena Capital Corp
Vancouver, British Columbia, April 24th, 2008
GALENA COMMENCES DRILLING ON MELISSA PROJECT
Galena Capital Corp. (TSXV: FYI) (the "Company" or "Galena"), is pleased to announce the initiation of the drill program on the Melissa project located north west of Hermosillo in Mexico. Melissa is a priority one target comprising 4,900 hectares in size located in the state of Sonora, Mexico. Melissa is one of the properties included in the portfolio of properties held by Norma Mines Limited ("Norma Mines"), which acquisition was recently completed.
Drilling has commenced and the first hole has been completely drilled to a depth of 210 metres. The hole contained sulfurous materials and pyrites at the bottom. The core will be split and sent to the assay lab for processing. Initial processing will be completed by the ALS Chemex Labs (ISO 9001:2000 certification) in Hermosillo, Mexico.
The Melissa drill program includes a further three holes, each being approximately 300 metres in depth. We anticipate this to be completed by May 15th. At that time, we will move the drill rig to our Mercedes property which is located 200 miles from Melissa.
Once we have the assay results from Melissa and Mercedes, we will evaluate the merits of each and determine a further drill program for one or both of the projects. More information on the Melissa and Mercedes project can be found on our website at: www.galenacorp.com/properties
CEO Arni Johannson states "We are very enthusiastic about this project. The infrastructure of Melissa is in place and there is the potential for open-pit mining and near-term production". Galena's mission statement is to aggressively build a well-financed, premiere public company run by dedicated, experienced senior management, with projects whereby production can withstand commodity fluctuations and therefore create a legacy in Mexico and South America.
For further information please visit www.GalenaCorp.com or contact Galena directly on the number below.
ON BEHALF OF GALENA CAPITAL CORP.,
"Arni Johannson"
Arni Johannson
Chairman & CEO
For further information contact: Ian Pedersen (Investor Relations)
Suite 1101, 808 West Hastings Street, Vancouver, British Columbia, V6C 2X4, Canada
Tel: (604) 638 - 0260 Toll Free: (877) 906 - 3987
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the completion of transactions, the timing and amount of payments and securities issuances, the completion of financings, the completion of Galena's three-step business plan, the use of proceeds, future exploration, development and production activities, future expenditures, and completion of technical reports. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated transactions, payments, share issuances and financings, the use of proceeds, the time and success of future exploration, development and production activities and the timing and amount of expenditures.
Back to Press ReleasesVancouver, British Columbia, April 24th, 2008
GALENA COMMENCES DRILLING ON MELISSA PROJECT
Galena Capital Corp. (TSXV: FYI) (the "Company" or "Galena"), is pleased to announce the initiation of the drill program on the Melissa project located north west of Hermosillo in Mexico. Melissa is a priority one target comprising 4,900 hectares in size located in the state of Sonora, Mexico. Melissa is one of the properties included in the portfolio of properties held by Norma Mines Limited ("Norma Mines"), which acquisition was recently completed.
Drilling has commenced and the first hole has been completely drilled to a depth of 210 metres. The hole contained sulfurous materials and pyrites at the bottom. The core will be split and sent to the assay lab for processing. Initial processing will be completed by the ALS Chemex Labs (ISO 9001:2000 certification) in Hermosillo, Mexico.
The Melissa drill program includes a further three holes, each being approximately 300 metres in depth. We anticipate this to be completed by May 15th. At that time, we will move the drill rig to our Mercedes property which is located 200 miles from Melissa.
Once we have the assay results from Melissa and Mercedes, we will evaluate the merits of each and determine a further drill program for one or both of the projects. More information on the Melissa and Mercedes project can be found on our website at: www.galenacorp.com/properties
CEO Arni Johannson states "We are very enthusiastic about this project. The infrastructure of Melissa is in place and there is the potential for open-pit mining and near-term production". Galena's mission statement is to aggressively build a well-financed, premiere public company run by dedicated, experienced senior management, with projects whereby production can withstand commodity fluctuations and therefore create a legacy in Mexico and South America.
For further information please visit www.GalenaCorp.com or contact Galena directly on the number below.
ON BEHALF OF GALENA CAPITAL CORP.,
"Arni Johannson"
Arni Johannson
Chairman & CEO
For further information contact: Ian Pedersen (Investor Relations)
Suite 1101, 808 West Hastings Street, Vancouver, British Columbia, V6C 2X4, Canada
Tel: (604) 638 - 0260 Toll Free: (877) 906 - 3987
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the completion of transactions, the timing and amount of payments and securities issuances, the completion of financings, the completion of Galena's three-step business plan, the use of proceeds, future exploration, development and production activities, future expenditures, and completion of technical reports. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated transactions, payments, share issuances and financings, the use of proceeds, the time and success of future exploration, development and production activities and the timing and amount of expenditures.
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