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:
|Sample||Grade (g/t Au)||Length (m)|
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 1.0 metre.
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 gold potential."
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 release.
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 statements.
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