Ladies and GentlemenLadies and Gents,
I remember when GWY was trading cheaply at times. I need to discuss a company called Prospector Consolidated(PRR) once again as PRR had news today at market close and trades cheaply!
PRR's news release states they will hire a geostatician to produce from data and their work program, currently underway, an inferred resource estimate. Union Carbide worked this project in the 80's and projected in excess of 100 million tonnes grading .1% to .2%! That is a whole lot of tungsten. PRR trades at 18 cents. Less than 30 million shares. They have a gold/silver project too, with historical 1 million ounces gold and 20 million ounces silver. 2 silver mines on the property too. It sounds too good. It is very good.
As Galway has exceptional technical people, PRR has excellent people too. For example, Charles Forster, Senior VP of Ivanhoe, is assisting PRR with the tungsten project. Take a look. And remember GWY had it's cheaper level at times. PRR is very inexpensive and has the potential to grow as GWY.
Cheers
News below
Prospector Cons begins bulk sampling at Kalzas project
2007-09-04 19:23 ET - News Release
Mr. Henry Neugebauer of Prospector reports
FIELD UPDATE ON THE KALZAS TUNGSTEN DEPOSIT, YUKON
Further to Prospector Consolidated Resources Inc.'s news release in Stockwatch dated Aug. 10, 2007, in which it was announced that the company had agreed to enter into an option agreement with Copper Ridge Explorations Inc., giving Prospector the right to earn a 100-per-cent interest in the Kalzas tungsten deposit upon TSX approval, the company is pleased to provide a field update and outline the work to be carried out on the Kalzas deposit.
The president and chief executive officer of the company, Henry Neugebauer, PEng, visited the property in August with project consultant, Al Doherty, PGeo, and inspected the roughly 1.5-square-kilometre zone of mineralization as developed by Union Carbide (1980) and Copper Ridge (2005) as per their respective property reports. Upon Mr. Neugebauer's return, Charles Forster, PGeo, a technical adviser to the company and a former manager for Union Carbide tungsten exploration across Canada including the Kalzas deposit, reviewed the work Union Carbide had performed in the 1980s. It was agreed that additional bulk sampling is warranted and that a geostatistician be retained to develop an inferred resource for the Kalzas tungsten property.
Mr. Neugebauer states: "The mineralized zone is as large as it was described in the original Union Carbide reports. After reviewing the historical data of Union Carbide with Charlie Forester, it is evident that they (Union Carbide) had already done an immense amount of work on the property that included geological mapping, geophysics, trenching, sampling and had put in a couple of drill holes. They had built a campsite with an airstrip too. We intend to take full advantage of the previous work to advance the Kalzas project to the next level."
Under Mr. Doherty's supervision, the summer field crew is currently bulk sampling the trenches where the main segment of the mineralized trend is known to occur based on previous work. Upon completion of the fieldwork this season at the Kalzas property, the company plans to digitize all historic data in preparation for the geostatistical analysis. The company will begin camp building for the 2008 field season and identify drill targets for the 2008 field season. The qualified person responsible for review of the technical aspects of this release is Mr. Neugebauer, PEng, president and chief executive officer of the company.