Galena International Resources Ltd.: GeothermEx Report Filed-Chaves Geothermal Prospect, Portugal
01 June 2010 - 10:00PM
Marketwired
Galena International Resources Ltd. (the "Company") (TSX VENTURE:
GTO) wishes to report that it has posted, to SEDAR the independent
technical report, resource evaluation of the Chaves Geothermal
prospect. The report was prepared by GeothermEx, Inc. of Richmond,
California.
GeothermEx, Inc., specializes exclusively in providing
consulting, operational, and training in the exploration,
development, assessment and valuation of geothermal energy.
GeothermEx is the largest and longest-established such organization
in the Western Hemisphere, and as such GeothermEx has been
associated with more than 750 projects in 44 countries acting for
both government agencies and private companies.
Galena is the holder of a geothermal exploration concession at
and surrounding the town of Chaves, Portugal, where historic hot
springs indicate the presence of geothermal resource that
potentially may be exploited to generate electricity. The
concession covers an approximate 200km2 area, which includes a
protected zone at the historic hot springs and a few adjacent
shallow wells. The area is easily accessed by major and minor
roads, population density is moderate, and water is abundant and
should be available for the Company's future drilling programs.
The Chaves geothermal region was extensively studied by
academic/scientific interests in the early 1990's, with funding
from the EU, directed towards exploration of the geothermal
resource. Only a few shallow wells are present in the area and no
deep drilling was done, but the studies indicate that further
exploration is warranted.
The Company has a proposed exploration work program, which
includes more comprehensive collection and evaluation of existing
data, geophysical studies, and drilling to shallow and intermediate
depths to define the subsurface temperature distribution. If
warranted, further drilling of deep production diameter wells will
be needed to confirm the resource.
Qualified Person
The data contained in this News Release has been reviewed and
verified by, Christopher Klein a senior geochemist and geologist of
GeothermEx, and is a "qualified person" for the purposes of
National Instrument 43-101 Standards of Disclosure for Mineral
Projects of the Canadian securities administrators.
This news release may contain forward looking statements
regarding the ongoing and upcoming exploration work and expected
geometry of geological formations and structures. Actual results
may differ materially from those currently anticipated in such
statements.
"Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release."
Contacts: Galena International Resources Ltd. Randy Turner
604.687.6644 604.687.1448 (FAX)
(TSXV:GTO)
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