Press Releases
2008-05-22 09:09:08
Melissa Project Geochem Update
Galena Capital Corp
Vancouver, British Columbia, May22nd, 2008
MELISSA PROJECT GEOCHEM UPDATE / GALENA ANNOUNCES NEW CORPORATE SECRETARY
Galena Capital Corp. (TSXV: FYI) (the "Company" or "Galena"), is pleased to announce the Melissa project has received a favourable GeoChem Report. The Melissa property is located 50 kilometres northwest of Hermosillo, in the state of Sonora, Mexico. It covers an area of 4,900 hectares. Melissa is one of the properties included in the portfolio of properties held by Norma Mines Limited ("Norma Mines"), acquired recently.
The initial work completed on this project is the GeoChem study of three outcropping zones identified in the area. The area is desert terrain, mostly covered with Quaternary alluvium insedimentary material. The three outcrops have been mapped and sampled and our initial assays show very high arsenic values throughout which may also correlate very well with gold anomalies. The anomalies have been delineated and exploration work is in progress. We are trenching areas around the outcrops to generate bulk samples to test for free gold and do some metallurgical studies.
We have commenced diamond drilling on the northern outcrop. The initial hole MEL-08-01 was collared in strongly hematized and locally silicified sandstones to a depth of 88 metres after which it intercepted altered limestones to a depth of 219 metres where it then bore through relatively fresh limestones but with high pyrite content, locally up to 15%. Unfortunately, the hole was stopped in that horizon. We are planning to return in that drill hole to deepen it. The above reference to Galena work programs and all of Galena's exploration programs are carried out under the supervision of Luc Rioux, P. Geo., the Company's "Qualified Person" for the purposes of NI 43-101.
The company also announces that it has appointed Brenda Dayton as Corporate Secretary.
Ms. Dayton has a Bachelor of Arts from the University of Calgary and has worked extensively with public companies, with an emphasis on the resource sector. Ms. Dayton has been involved with resource companies from grass roots exploration through to feasibility stage projects. Brenda is also a Vice President of Canadian Nexus Ventures; a Venture Capital group that focuses on public and private equity; www.CanadianNexus.com.
"We are very pleased to have Brenda take on this role in our Company, and her experience in the mining industry will be a significant asset for the Company." states Arni Johannson, Galena's CEO.
Concurrently, Darren Devine has tendered his resignation. The Company wishes to thank Mr. Devine for his leadership and vision and wishes him well in his future endeavors.
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, May22nd, 2008
MELISSA PROJECT GEOCHEM UPDATE / GALENA ANNOUNCES NEW CORPORATE SECRETARY
Galena Capital Corp. (TSXV: FYI) (the "Company" or "Galena"), is pleased to announce the Melissa project has received a favourable GeoChem Report. The Melissa property is located 50 kilometres northwest of Hermosillo, in the state of Sonora, Mexico. It covers an area of 4,900 hectares. Melissa is one of the properties included in the portfolio of properties held by Norma Mines Limited ("Norma Mines"), acquired recently.
The initial work completed on this project is the GeoChem study of three outcropping zones identified in the area. The area is desert terrain, mostly covered with Quaternary alluvium insedimentary material. The three outcrops have been mapped and sampled and our initial assays show very high arsenic values throughout which may also correlate very well with gold anomalies. The anomalies have been delineated and exploration work is in progress. We are trenching areas around the outcrops to generate bulk samples to test for free gold and do some metallurgical studies.
We have commenced diamond drilling on the northern outcrop. The initial hole MEL-08-01 was collared in strongly hematized and locally silicified sandstones to a depth of 88 metres after which it intercepted altered limestones to a depth of 219 metres where it then bore through relatively fresh limestones but with high pyrite content, locally up to 15%. Unfortunately, the hole was stopped in that horizon. We are planning to return in that drill hole to deepen it. The above reference to Galena work programs and all of Galena's exploration programs are carried out under the supervision of Luc Rioux, P. Geo., the Company's "Qualified Person" for the purposes of NI 43-101.
The company also announces that it has appointed Brenda Dayton as Corporate Secretary.
Ms. Dayton has a Bachelor of Arts from the University of Calgary and has worked extensively with public companies, with an emphasis on the resource sector. Ms. Dayton has been involved with resource companies from grass roots exploration through to feasibility stage projects. Brenda is also a Vice President of Canadian Nexus Ventures; a Venture Capital group that focuses on public and private equity; www.CanadianNexus.com.
"We are very pleased to have Brenda take on this role in our Company, and her experience in the mining industry will be a significant asset for the Company." states Arni Johannson, Galena's CEO.
Concurrently, Darren Devine has tendered his resignation. The Company wishes to thank Mr. Devine for his leadership and vision and wishes him well in his future endeavors.
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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