Oct 19 2010
Conway Resources Inc. (TSX-V: CWY) has announced its preliminary program for the development of the Belleterre Mine located in Guillet Township, in the Temiskaming region of Quebec.
The program consists primarily of dewatering and reinforcing the existing Belleterre underground mine workings, which include four shafts with a maximum depth of 685 metres. As a second program stage, the Company will carry out underground drilling to test the results of historical work, as well as additional exploration to increase the mine resource. Conway also plans to extract bulk samples from the identified resource.
The Company recently requested bids from two engineering firms experienced in this type of work so as to establish a work program budget and schedule.
Laurent Beaudoin, President and Chief Executive Officer of Conway, stated that: "Since its acquisition last June, Conway's primary goal has always been to develop the Belleterre Mine. Our strategy is to collect all the data required and build a strong technical team so that we can achieve gold production. We are also open to the idea of forming a strategic partnership with a company interested in financing this stage of work along with the production phase. In light of the current gold price and the potential of the Belleterre Mine, we are confident that we will be able to create value for our shareholders."
Jean-Louis Robert, D.Sc. Geol., Director of Conway and a qualified person under National Instrument 43-101, has reviewed the contents of this press release.
Source: Conway Resources Inc.