1st May 2007
TSX Venture Exchange -"GAL"
London Stock Exchange AIM: GAL"
GALANTAS INTERSECTS 2.5m GRADING 22.53g/t GOLD AT OMAGH
Galantas Gold Corporation (the Company), which has a 100% interest in Irelands only gold mine at Omagh, today announced results from its ongoing core drilling program.
Drill holes OM-DD-07-15 and OM-DD-07-16, located on the same cross section in the central portion of the 850m long Kearney deposit, intersected mineralization at depths of approximately 60m and 100m respectively. A 0.65m intersection in hole 15 assayed 11.38g/t gold. A 2.5m intersection in hole 16 assayed 22.53g/t gold.
|
Drill Hole 15 From - To |
Sample length Metre* |
Assay grade Gold g/t |
|
68.75 69.00 |
0.25 |
16.0 |
|
69.00 69.26 |
0.26 |
10.88 |
|
69.26 69.40 |
0.14 |
4.04 |
| |
Total
0.65 m |
Weighted Average 11.38 g/t |
|
Drill Hole 16 From - To |
Sample length Metre * |
Assay grade Gold g/t |
|
100.3 101.1 |
0.80 |
8.85 |
|
101.1 102.0 |
0.90 |
13.97 |
|
102.0 102.2 |
0.20 |
103.94 |
|
102.2 -102.8 |
0.60 |
26.47 |
|
|
Total
2.50 m |
Weighted Average 22.53 g/t |
*The angle between the vein and the drill hole is greater than 75 degrees therefore drilled width approximates true width.
At a greater depth in this same cross section, a 1989 Rio Tinto drill hole intersected several mineralized zones at a depth of approx 150m below datum, including 13.07 g/t gold over 0.82m and 59.22 g/t gold over 0.13m. (For data verification details see Report 851a by ACA Howe - Ewert, Armstrong & Langlands July 21st 2003 filed October 30th 2003 on www.sedar.com ). The company is awaiting assay results for hole 17 which was drilled in between holes 16 and the Rio Tinto hole.
The samples were taken by geological staff under the supervision of M.J. Lavigne P.Geo, (Vice President, Galantas Gold Corporation), 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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Galantas Gold Corporation
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EXPLORATION STAGE |
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CODE : GAL.V |
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CUSIP : 298773 |
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Galantas is a gold development stage company based in Canada. Galantas holds various exploration projects in Ireland and in Portugal. Its main exploration properties are OMAGH - KEARNEY and OMAGH - OTHER DEPOSITS in Ireland and MONTEMOR in Portugal. Galantas is listed in Canada, in United Kingdom and in United States of America. Its market capitalisation is CA$ 37.6 millions as of today (US$ 30.1 millions, € 26.3 millions). Its stock quote reached its lowest recent point on April 03, 2020 at CA$ 0.01, and its highest recent level on May 28, 2021 at CA$ 0.89. Galantas has 170 890 000 shares outstanding. |