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Galantas Gold Drills 13.1 Grams/Tonne Gold Over a 2.5-Metre Intersection at the Omagh Project
TORONTO, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) is pleased to announce the
About this update from Galantas Gold Corporation
[{"type":"text","content":" TORONTO, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) is pleased to announce the results for the first hole from the new surface drill program at the Omagh Project in Northern Ireland. Hole FR-DD-23-196 targeted a gap in the earlier resource model on the main Joshua Vein, intersecting 13.1 grams per tonne (g/t) gold (Au) and 91.6 g/t silver (Ag) over 2.5 metres (see Table 1 and Figure 1). The hole passes through an undrilled area of the earlier resource model and falls within a predicted dilation zone* (see Galantas news release dated August 10, 2023). Other significant results attained within this dilation trend include hole OM-DD-12-122 which intersected 21.2 g/t Au over 2.1 metres, hole OM-DD-13-147 which intersected 12.4 g/t Au over 5.6 metres, and hole OM-DD-12-103 which intersected 8.4 g/t Au over 26.6 metres (see Figure 2 and Galantas news releases dated June 11, 2012, October 29, 2012 and August 27, 2013). Mario Stifano, CEO of Galantas, commented: “We are pleased with the encouraging early results of our new drill program from surface. As we continue drilling on the Joshua Vein, we will test the down-dip potential of this dilation zone with the aim of expanding the resource to ultimately add to the Omagh Mine’s production capacity.” *Dilation zones which have potential for higher widths of mineralization have previously been identified within the Kearney underground development and are believed to be linked on shallow north-dipping planes. Table 1: Summary of drill results. Hole ID Collar location Collar elevation Azimuth/Dip (deg.) Intersect (m) (downhole) Est. true width (m) Intersect vertical depth (m)* Gold (g/t) Silver(g/t) Lead(%) Core loss (%) FR-DD-23-196 239794 E370715 N 168 m 250.1/50.3 2.5 1.5 132 13.1 91.6 8.9 1 Notes: Drill hole was NQ size and drilled using a triple tube method to maximize core recovery. The samples were analyzed (gold by fire assay and other metals by ICP-ORE) at ALS Laboratory Ltd (ISO 17025) of Galway, Ireland. Intersect vertical depth intervals are from ground surface to the top of the mineralized zone. Data has been rounded to 1 decimal place. All assays are reported without application of a top cut. Figure 1: Split section of drill core from hole FR-DD-23-196, over a 0.25-metre sample length. Figure 2...