Galantas Gold Corporation

Published : May 01st, 2007

Intersects 2.5m Grading 22.53g/t Gold at Omagh

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Keywords :   Gold | Gold Mine | Ireland | London |

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

 

 

If you wish to be removed from this mailing list, please reply to this email with the word UNSUBSCRIBE in the subject line

Data and Statistics for these countries : Ireland | All
Gold and Silver Prices for these countries : Ireland | All

Galantas Gold Corporation

EXPLORATION STAGE
CODE : GAL.V
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$ 82.0 millions as of today (US$ 65.6 millions, € 57.5 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.

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5/24/2007(Omagh - Kearney)Commissioning update
5/1/2007(Omagh - Kearney)Intersects 2.5m Grading 22.53g/t Gold at Omagh
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