Conway Resources reports the results of bulk sampling on Conway Paquin
10/13/2010 6:00 AM - Canada NewsWire
QUEBEC CITY, Oct. 13, 2010 (Canada NewsWire via COMTEX News Network) --
Conway Resources Inc. ("Conway" or the "Company") (TSX-V: CWY) is pleased to report the results of bulk sampling carried out on the Comway and Paquin veins of the Conway Paquin property in Guillet Township, in the Temiskaming region of Quebec.
Conway's first bulk sample produced a 10,050-gram gold bar with a 37% gold content for a total of 3,730 grams of gold (120 troy ounces). This bar was produced from 1,635 tonnes of ore grading an average of 2.28 g/t, for a 93% recovery rate.
Laurent Beaudoin, President and Chief Executive Officer of Conway, stated that: "Conway considers the outcome of this first bulk sample to be satisfactory, as it provides us with considerable information on the properties of the ore found on Conway Paquin, as well as on how to improve operating results for bulk sampling planned for the future. We are also very pleased with the gold recovery we obtained, which is a positive factor for future gold production."
Because the Belleterre Mine property is a mining concession, Conway is able to carry out annual bulk samples of 60,000 tonnes on the property, provided this type of activity proves economically feasible for the Company.
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60,000 tonnes per years at 2.28g/t dones = 136,800g = 4885,7 onces x 1300$USD = 6,35M$ gross per year