QUEBEC CITY, Jan. 11, 2012 /CNW Telbec/ - Conway Resources Inc.
("Conway" or the "Corporation") (TSXV: CWY) is pleased to report the
results of stripping and channel sampling carried out in October and
November 2011 at the Belleterre Mine property. Sampling was done at
varying intervals over a distance of about 300 metres and widths of up
to 5 metres along the length of a NE-SW-striking zone, on the
outcropping sections of the zone. The best results were as follows:
Grade (g/t Au)
This zone coincides with what was called the Tuff No.18 level at the
Belleterre Mine (now called Vein 18). It is part of a series of
parallel beds striking NE-SW a few dozen metres apart, characterized by
the presence of sheared tuffaceous volcanic rock injected with quartz
veins and veinlets, accompanied by disseminated sulphides.
The Belleterre Mine geological maps trace Vein 18 over a two-kilometre
strike length going southwest from the sampled area. Earlier drillhole
compilation maps show very little drilling on this zone.
Vein 18 was also located at depth, on level 500, where an exploration
drift driven southward from Shaft No.1 intercepted the vein and
followed it for about one hundred metres. This exploration drift lies
about 200 metres southwest along strike from the area channel sampled
on surface. Exploration of Vein 18 at the 500 level indicated the
presence of zones of gold-bearing quartz up to 1.5 metres wide that
became discontinuous toward the southwest. In the continuous part of
the vein, some 70 metres long, the grade averaged about 1 g/t Au over a
width of about 0.6 metres. The best value obtained was 2 g/t Au over
François Kalos, President and Chief Executive Officer of Conway
Resources, said that: "The exploration results for Vein 18 show beyond
doubt that the Belleterre Mine property has excellent exploration
potential. The fact that Vein 18 has been identified over a distance of
two kilometres and is open along strike and at depth makes it a prime
target. To better align our next phase of work, which could include
drilling, we will finalize the 3D model and compile the data we have
from earlier drilling, which will make us more efficient in terms of
costs and results and give us a better idea of the Belleterre Mine's
Stripping and channel sampling on the other potential zone identified on
surface south of Vein 18 and on geophysical targets that returned
grades of 0.82 g/t Au to 12.38 g/t Au in the last sampling program
could not be done and will take place in the spring of 2012, along with
sampling on geophysical targets that could not be tested in 2011.
Alain Tremblay, Ing.-Geol., a consultant for Conway and a qualified
person under NI 43-101, has reviewed the contents of this press
About Conway Resources Inc.
Conway is a mining exploration corporation that owns four gold
properties and one rare metals property in Quebec. Its main asset is
the Belleterre Mine property. The property is the site of the old
Belleterre mine, which produced over 800,000 ounces of gold between
1936 and 1959. A total of 2.18 million tonnes of ore at an average
grade of 10.73 g/t Au were extracted from the mine, primarily from vein
12 (95% of production). Earlier reports indicate the presence of at
least 21 veins on the property.
More information can be found on Conway's website at www.ressources-conway.com.
This press release contains certain forward-looking statements that
might involve uncertainty, time frames, and/or known and unknown risks
beyond the Corporation's control. The Corporation's actual results,
performance and achievements may differ materially from the results,
performance and achievements implied by such forward-looking
Neither the TSX Venture Exchange Inc. nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange Inc.) accepts responsibility for the adequacy or accuracy of
this press release.
SOURCE CONWAY RESOURCES INC.
For further information:
Conway Resources Inc.
President and CEO