Galantas Gold Corporation (the Company) reports results from 10 diamond drill holes from ongoing exploration on its wholly owned Omagh gold mine in Northern Ireland. Nine of the holes were infill holes in parts of the Kearney Deposit to achieve approximate 25-metre spacing in advance of resource re-calculation. One of the holes, 07-41, tested the steeply dipping deposit at 200 metres vertical depth. All of the holes intersected gold mineralisation.
Hole 07-41 disclosed 11 well mineralised veins within an approximate 109-metre wide (approximate true width) zone. Three notable veins included: 22.29 grammes gold per tonne ("gAu/t") over 3.6 metres estimated true width (including a 0.50-metre section containing 68.16 gAu/t); 7.90 gAu/t over 2.52 metres estimated true width; and 8.66 gAu/t over 0.94 metres estimated true width. Details of all the drill holes are in the following table:
KEARNEY VEIN - CORE DRILLING ASSAY RESULTS
Hole Number |
Collar Location
Dip at Collar |
From (m) |
To (m) |
Core Length (m) |
Vertical Depth |
True Width (m) |
Gold (g/t) |
Silver (g/t) |
Lead (%) |
OM-DD-07-33 |
371325N 240120E |
38.5 |
39.6 |
1.1 |
27 |
0.78 |
4.73 |
6.41 |
0.21 |
|
-44.8 |
including 38.85 |
39.6 |
0.75 |
|
0.53 |
5.56 |
<5 |
0.1 |
|
|
|
|
|
|
|
|
|
|
OM-DD-07-34 |
370873N 240175E |
65.45 |
65.6 |
0.15 |
51 |
0.11 |
26.88 |
6 |
0.05 |
|
-49.2 |
and 91.25 |
91.85 |
0.6 |
73 |
0.42 |
3.47 |
13.38 |
0.03 |
|
|
and 98.40 |
98.5 |
0.1 |
79 |
0.07 |
5.6 |
2.5 |
0.05 |
|
|
and 113.25 |
113.4 |
0.15 |
91 |
0.11 |
7.92 |
7 |
0.05 |
| |
|
|
|
|
|
|
|
|
|
OM-DD-07-35 |
371212N 240170E |
130.2 |
130.4 |
0.2 |
107 |
0.14 |
1.56 |
2.5 |
0.05 |
|
-53.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OM-DD-07-36 |
370897N 240170E |
85.7 |
86.15 |
0.45 |
71 |
0.32 |
1.27 |
2.5 |
0.05 |
|
-48.8 |
and 89.8 |
90.39 |
0.59 |
74 |
0.42 |
6.32 |
15.2 |
0.25 |
|
|
including 89.9 |
90 |
0.1 |
|
0.07 |
13.28 |
23.67 |
0.09 |
|
|
and 107.95 |
108.65 |
0.7 |
90 |
0.49 |
23.65 |
10.71 |
0.05 |
|
|
including 108.35 |
108.45 |
0.1 |
|
0.07 |
165.12 |
59.91 |
<.01 |
|
|
and 110.6 |
110.9 |
0.3 |
93 |
0.21 |
5.56 |
7.83 |
0.04 |
| |
|
|
|
|
|
|
|
|
|
OM-DD-07-37 |
370924N 240172E |
62.6 |
62.75 |
0.15 |
51 |
0.11 |
3.01 |
2.5 |
0.05 |
|
-50 |
and 68.8 |
71.5 |
2.7 |
57 |
1.91 |
3.72 |
5.07 |
0.22 |
|
|
including 69.2 |
69.3 |
0.1 |
|
0.07 |
37.12 |
28.72 |
0.82 |
|
|
and 73 |
73.3 |
0.3 |
60 |
0.21 |
7.09 |
16 |
1.11 |
|
|
and 93.15 |
93.6 |
0.45 |
77 |
0.32 |
15.28 |
20.11 |
2.26 |
|
|
including 93.4 |
93.5 |
0.1 |
|
0.07 |
26.88 |
30.22 |
1.72 |
|
|
and 111.1 |
111.4 |
0.3 |
93 |
0.21 |
7.99 |
2.5 |
0.05 |
| |
|
|
|
|
|
|
|
|
|
OM-DD-07-38 |
370922N 240117E |
51.85 |
52 |
0.15 |
38 |
0.11 |
4.95 |
2.5 |
0.05 |
|
-45 |
and 86.4 |
87.35 |
0.95 |
66 |
0.67 |
2.5 |
0 |
0.05 |
|
|
and 98.1 |
98.8 |
0.7 |
75 |
0.49 |
1.59 |
2.5 |
0.05 |
|
|
|
|
|
|
|
|
|
|
OM-DD-07-39 |
371145N 240113E |
29.15 |
29.4 |
0.25 |
21 |
0.18 |
7.76 |
18 |
1.63 |
|
-45.2 |
and 42 |
44 |
2 |
31 |
1.41 |
1.89 |
2.5 |
0.02 |
|
|
and 94.4 |
94.75 |
0.35 |
68 |
0.25 |
2.27 |
2.5 |
0.05 |
| |
|
|
|
|
|
|
|
|
|
OM-DD-07-40 |
370975N 240175E |
81.95 |
82.3 |
0.35 |
60 |
0.25 |
2.31 |
2.5 |
0.89 |
|
-45 |
and 84.9 |
89 |
4.1 |
64 |
2.9 |
18.88 |
41.56 |
0.74 |
|
|
including 85.2 |
85.45 |
0.25 |
|
0.18 |
89.6 |
66.82 |
0.01 |
|
|
and 95.4 |
96.9 |
1.5 |
71 |
1.06 |
3.21 |
4.97 |
0.03 |
|
|
|
|
|
|
|
|
|
|
OM-DD-07-41 |
371125N 240225E |
125.35 |
125.45 |
0.1 |
100 |
0.07 |
3.34 |
2.5 |
0.05 |
|
-50.1 |
and 150.00 |
151.33 |
1.33 |
120 |
0.94 |
8.66 |
7.67 |
0.08 |
|
|
and 176.00 |
176.5 |
0.5 |
141 |
0.35 |
3.48 |
2.5 |
0.05 |
|
|
and 180.6 |
180.75 |
0.15 |
145 |
0.11 |
4.1 |
2.5 |
0.05 |
|
|
and 185.3 |
185.9 |
0.6 |
150 |
0.42 |
8.16 |
2.5 |
0.05 |
|
|
and 217.25 |
220.8 |
3.55 |
177 |
2.51 |
7.9 |
29.97 |
1.04 |
|
|
including 218.45 |
218.85 |
0.4 |
|
0.28 |
22.08 |
17.98 |
0.34 |
|
|
and 224.4 |
229.49 |
5.09 |
184 |
3.6 |
22.29 |
158.23 |
2.3 |
|
|
including 224.4 |
224.9 |
0.5 |
|
0.35 |
68.16 |
458.8 |
4.06 |
|
|
and 237.15 |
237.32 |
0.17 |
182 |
0.12 |
2.79 |
2.5 |
0.05 |
|
|
and 248.55 |
248.7 |
0.15 |
201 |
0.11 |
18.2 |
14 |
2.07 |
|
|
and 251.05 |
251.8 |
0.75 |
204 |
0.53 |
5.82 |
16.6 |
0.36 |
|
|
and 280.95 |
281.05 |
0.1 |
230 |
0.07 |
4.04 |
2.5 |
0.05 |
|
|
|
|
|
|
|
|
|
|
OM-DD-07-42 |
370950N 240140E |
26.8 |
29.05 |
2.25 |
25 |
1.59 |
3.09 |
7.02 |
0.95 |
|
-45.1 |
and 34.1 |
35 |
0.9 |
25 |
0.64 |
2.07 |
6 |
0.94 |
Exploration of the Kearney Deposit has shown that gold and associated minerals occur in multiple mineralised quartz veins, interpreted to be structurally controlled within a zone of strong north-south shearing. Generally veins strike northerly and dip to the east at between 70 and 90 degrees. Up to 3 principal veins make up the Kearney Zone where vein thicknesses range between 0.1 metres and 3.2 metres (true width) and are characterized by gold-silver-lead-pyrite mineralisation. In addition, sub-parallel proximal hanging wall and footwall veins have been delineated in recent drilling and although narrow (<1.0 metres), can exhibit high grade gold mineralisation noted for the absence of associated silver and lead.
The program is ongoing and interpretation of the data is yet to be completed. It is apparent that, while variable in thickness and complex in detail, the mineralized shear structure has been shown to be continuous along at least 850 metres of strike and to at least 200 metres vertically. The deepest intersection to date in the program, that of hole 07-41, has intersected the downward extension of the Kearney deposit over substantial widths with robust mineralisation. Additional deep holes in the immediate vicinity are underway to further investigate these positive results.
The drill program including sampling was under the control of the Company's geological staff under the supervision of L. J. Gunter, P.Eng., the qualified person for the programme. Sampling methodology, security and data verification followed standard procedures as previously detailed on April 5, 2006, and the samples were analysed (gold by fire assay and other metals by ICP-ORE) at OMAC Laboratories Ltd, an independent certified CCRMP & ISO 17025 laboratory in Galway, Ireland.
Galantas Gold Corporation Issued and Outstanding Shares total 175,675,855.
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 – Chairman
Roland Phelps C.Eng – President & CEO
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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