Galway Resources Ltd V.GWY

Resource Estimate at California

[jandd]

Fellow Gallwonians

Just for gigles and  laughs, I did a back o the napkin resource calculation for California using paramaters as follows:

-Assume 1.2 km strike length (it cant be any longer due to Ventana on one side and Calvista on the other)
-Assume that thers is 200 meters of width.

I then tried to average out the drill holes as best I can.

The number I came up with was 2.2 million oz of gold. I would say that this estimate is within 500k oz of what should be there.

Anyhow, just a metric to use going forward. And this in no way says anything about potential resources on the thin strips fully contained within the Ventana tenemnts nor does it have anything to do with the potential resource at the Galway Vetas project.

Good luck to all longs!

Jandd

[Geef]

How about taking your analysis a stage further and speculate on start up cost of the mine, the cost and yield per oz of Au per ton excavated, the # of oz per year and the consequent eps and share price. That would start an interesting dialogue!!

[rumncokez]

Geef, quit your whining! Quit being lazy and do your own labour guess-timates. We have put many weeks in the resource estimate and we all came up with 2.9 ounces,let alone with there 2nd property. In total for both gold properties, averaging no less then 4.2-4.8 mill ounces and this is more accurate with 5 of us, then the mayans calculating time=square.I would say by april 24th you will see