Galantas Gold Corporation (the Company), which has a 100% interest in Ireland's only gold mine, today announced results from ongoing core drilling. To date 36 holes have been completed in the current program, with total drilling of 3,518 meters.
Drill holes OM-DD-07-17 and OM-DD-07-18, located in the central portion of the 850 metres long Kearney Vein, intersected mineralization at depths of approximately 90 and 95 metres respectively. Hole 17 had numerous gold bearing intervals from 119 to 154 metres down hole, including a 0.31 metres intersection assaying 14.12 grams per tonne gold. Hole 17 was drilled in the same vertical section as holes 15 and 16 reported on May 1 st , 2007. Hole 18 also had multiple gold bearing intercepts from 86 meters to 125 meters down hole.
Holes 21 and 23 are part of a six hole program that has been completed at the Elkin Zone following six holes drilled in 2006. The Elkins Zone is a multi-vein system discovered by Rio Tinto in the 1980's by drilling coincident soil and Induced Polarization anomalies. Holes 21 and 23 are infill holes at 25-metre spacing. Hole 20 overshot the target and will be re-drilled. Holes 25, 27 and 29 testing on-strike and down-dip extensions are being sampled.
KEARNEY VEIN - CORE DRILLING RESULTS, June, 2007 |
Hole ID |
From (m) |
To (m) |
Width* (m) |
Grade (g/t gold) |
Grade (g/t silver) |
Grade (% Lead) |
OM-DD-07-17 |
54.58 |
54.84 |
0.26 |
4.27 |
<5 |
<.01 |
And |
119.21 |
120.10 |
0.89 |
7.73 |
14.25 |
1.21 |
Including |
119.53 |
119.84 |
0.31 |
14.12 |
35 |
3.39 |
And |
133.60 |
133.76 |
0.16 |
7.64 |
10 |
0.02 |
And |
153.51 |
153.74 |
0.23 |
4.98 |
14 |
0.07 |
|
|
|
|
|
|
|
OM-DD-07-18 |
86.30 |
86.65 |
0.35 |
3.35 |
<5 |
0.02 |
And |
104.22 |
104.72 |
0.50 |
3.01 |
2.97 |
0.48 |
And |
123.50 |
125.55 |
2.05 |
3.47 |
7.42 |
0.74 |
Including |
124.80 |
125.00 |
0.20 |
10.96 |
32 |
2.55 |
|
|
|
|
|
|
|
ELKINS ZONE - CORE DRILLING RESULTS, June, 2007 |
Hole ID |
From (m) |
To (m) |
Width* (m) |
Grade (g/t gold) |
Grade (g/t silver) |
Grade (% Lead) |
OM-DD-07-21 |
15.05 |
18.35 |
3.30 |
4.09 |
0.65 |
0.13 |
Including |
17.99 |
18.35 |
0.36 |
10.80 |
5.95 |
0.11 |
|
|
|
|
|
|
|
OM-DD-07-23 |
22.16 |
22.33 |
0.17 |
2.44 |
<5 |
0.01 |
and |
34.05 |
34.81 |
0.76 |
10.82 |
21.09 |
0.58 |
including |
34.05 |
34.38 |
0.33 |
13.20 |
17.16 |
0.12 |
*The angle between the vein and the drill hole is greater than 75 degrees therefore drilled width approximates true width.
The samples were taken by geological staff under the supervision of M.J. Lavigne P.Geo, (Vice President, Galantas Gold Corp), the Qualified Person for the program. Sampling methodology, security & verification followed standard procedures previously detailed on April 5th 2006 and the samples were analysed (gold by fire assay and other metals by ICP-ORE) at OMAC Laboratory Ltd (an independent, certified CCRMP & ISO 17025 laboratory) in Galway, Ireland.
Galantas Gold Corporation Issued and Outstanding Shares total 167,535,855. .
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
Enquiries
Galantas Gold Corporation
Jack Gunter P.Eng – Executive Chairman
Roland Phelps C.Eng – President & CEO
Moe Lavigne P.Geo – Vice President
Email: info@galantas.com
Website: www.galantas.com
Telephone: +44 (0) 2882 241100
ARM Corporate Finance Limited
Nick Harriss
Telephone: +44 (0) 20 7512 0191
Lewis Charles Securities Limited.
Kealan Doyle
Telephone: +44 (0) 20 7456 9100
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