Galantas Gold Corporation (the Company), which is developing Ireland’s only gold mine at Omagh, Co.Tyrone, announces additional results of core drilling at the Elkin and Kearney veins. A 422 m, 6 hole program on Elkin has been completed, and assay results for the first four holes were reported December 12th, 2006. The drill rig is currently drilling on the Kearney vein.
Highlights
- 14.36 g/t gold / 0.37 metres and 16.36 g/t gold / 0.6 metres on Elkin A, and B veins
- 7.87 g/t gold / 4.3 metres on Kearney vein, including 27.42g/t gold / 1 metre
Data generated by drilling the Kearney vein will be used to update the reserve-resource model which is being prepared by ACA Howe for release during the third quarter. In addition to in-fill and down-dip drilling, previously unrecognized on strike extensions of the Kearney multiple vein set are being investigated.
A plan for further drilling is being prepared for the Elkin Zone. The combination of shallow dipping mineralization and topography, as well as multiple veins favours building near surface resources.
ELKIN ZONE - CORE DRILLING RESULTS, January, 2007 |
Hole ID |
From (m) |
To (m) |
Width (m) |
Grade (g/t gold) |
Grade (g/t silver) |
Grade (% Lead) |
OM-DD-06-12 |
38.90 |
39.27 |
0.37 |
14.36 |
29.15 |
2.53 |
and |
42.90 |
43.50 |
0.60 |
16.36 |
49.11 |
1.99 |
|
|
|
|
|
|
|
OM-DD-06-13 |
49.60 |
49.80 |
0.20 |
4.18 |
6.10 |
0.14 |
|
|
|
|
|
|
|
KEARNEY VEIN - CORE DRILLING RESULTS, January, 2007 |
Hole ID |
From (m) |
To (m) |
Width (m) |
Grade (g/t gold) |
Grade (g/t silver) |
Grade (% Lead) |
OM-DD-06-14 |
110.00 |
114.30 |
4.30 |
7.87 |
46.95 |
2.03 |
including |
113.30 |
114.30 |
1.00 |
27.42 |
170.84 |
6.52 |
*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.
Mr. Lavigne said, “It is rewarding to see poorly understood gold occurrences such as the Elkin blossom into something substantial”.
Issued and Outstanding Shares total 157,851,855
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. This press release includes certain “Forward-Looking Statements” within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are “Forward-Looking Statements” that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these “Forward-Looking Statements”.
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.
David Scott
Telephone: +44 (0) 20 7065 1150
|
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