Exploration and Resources

CAUTIONARY NOTICE : FORWARD LOOKING STATEMENTS

The information in this website contains forward looking statements, including statements about anticipated operating and financial performance and geological estimates. Such statements are no guarantees of future performance which is subject to risks and uncertainties only some of which are within the Company’s control, and any or all of which could cause the Company’s performance to be materially different from what directors may believe. Given the uncertainties associated with forward looking statements, readers are cautioned not to place undue reliance on them. The Company does not undertake to update any forward looking statements contained herein.

COPYRIGHT : Other than as specifically noted, all content of this website is the exclusive copyright of Galantas Gold Corporation and may not be reproduced in whole or in part without written consent.

GEOLOGY : Introduction

The geology of the Omagh Minerals License area OM1 is composed of rocks of Dalradian (a division of the pre Cambrian) age. They are composed of metamorphosed siltstones and sandstones, with some ultra-basic intrusives. Steeply dipping quartz veins are present, mostly on a north-south orientation, which carry more than one phase of mineralisation. The minerals present in the quartz veins are calcite, pyrite, galena, gold and silver with minor sphalerite, arsenopyrite and chalcopyrite. The rocks have been up-faulted in a block known as the Lack Inlier and part of the lithological sequence has been inverted by means of a thrust fault.
The Lack Inlier is faulted by the Omagh Thrust Fault which is a major feature and it is thought that the mineralisation is related to this structure.
The geology of OM4 is considered to overlie Dalradian rocks.


Geological Map of License Areas : Omagh Minerals Ltd : copyright Geological Survey of Ireland and Geological Survey of Northern Ireland. Published by kind permission.

                 Expansion

RESOURCES

 An updated NI 43-101 / CIM compliant resource update is summarised and accessible via the adjacent menu bar or directly via :-

http://www.galantas.com/operations/2013-resource-assessment/

EXPLORATION POTENTIAL                                    

The following note is drawn from Howe's 2008 report :-

Expansion

Omagh Minerals Ltd is engaged in examining some of the 50 plus targets that have already been identified. 

The Howe report  (link above) contains estimates of potential tonnage and grade of some of the available targets and classifies these by Resource Extension or Exploration. The potential quantity and grade is conceptual in nature and there has been insufficient exploration to define mineral resources in these areas. It is uncertain if further exploration will result in the targets being delineated as mineral resource. The exploration potential does not represent a mineral resource, does not have demonstrated economic viability and is disclosed in accordance with NI 43-101 Rules and Policies, Section 2.3, disclosed as potential quantity and grade, expressed as ranges, of a potential mineral deposit that is to be the target of future exploration. The report states, “However, the disclosed potential quantity and grade has been determined on the basis of reasonable extrapolation from known and defined resources and/or favorable geochemical/geophysical signatures and float/surface sampling, the results of which make these areas highly prospective”.

Table of Exploration Potential * (The 2008 Howe Report)

Target Name

Potential Tonnes  Range (t)

Potential Grade Range (g/t Gold)

RESOURCE EXTENSION TARGETS

 

Low

High

Low

High

Kearney

400,000

600,000

4.5

9.0

Elkins

200,000

400,000

2.0

4.0

Joshua’s

190,000

380,000

2.0

4.0

Kerr

180,000

360,000

2.0

4.0

Gormley

230,000

460,000

3.3

6.5

Sammy’s

30,000

60,000

2.1

4.2

Prince’s

20,000

40,000

19

38

Garry’s

80,000

160,000

0.7

1.3

Total

1,330,000

2,460,000

 

 

EXPLORATION TARGETS

Peter’s

4,000

13,000

4.5

9.0

“63 gram”

33,000

101,000

4.5

9.0

North of Sammy’s Barn / East Cousins

135,000

810,000

4.5

9.0

Cornavarrow Burn East

60,000

360,000

4.5

9.0

Corlea Burn

60,000

360,000

4.5

9.0

Legphressy

60,000

360,000

4.5

9.0

Cousins

48,000

145,000

4.5

9.0

Total

400,000

2,149,000

 

 

TOTAL EXPLORATION POTENTIAL *

1,730,000

4,609,000

 

 

Location Map for Drill Holes and Channel Samples, with results, on Joshua Vein

Joshua Vein Drill holes location map

EXPLORATION PROGRAM :   As of 8th January 2013, the drilling program has been expanded to 18,000 metres

Omagh Minerals Limited has a very active exploration program. Following a channel sampling program in the latter half of 2010, a drilling contractor was engaged, starting at the end of February 2011 to core drill priority targets. Up to 18,000 metres of core drilling is planned, which is a 3,000 metre extension to the original 15,000 metre program. The drilling program includes the Kearney vein, Joshua Vein, Kerr Vein and Elkins Vein systems.

Omagh Minerals Ltd owns it's own drilling unit. The rig purchased is an Atlas Copco CS14 diamond coring rig. (As featured left) It has a drilling capability of 800 metres (when vertical), with an H size drill string. (1200 metres at N size) It is capable of drilling at angles between 45 and 90 degrees. It is diesel powered and is towable behind a tractor or excavator.
 

 

 

Share Price

TSX-V (CDN $): 0.08

AIM (£ p): 5.25

Gold Price (oz)

USD : 1,277.80

GBP : 969.08

The figures presented here are for informational purposes of current trends only and should not be considered an exact count