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Galantas Gold Drills 31.8 g/t Gold Over 4.4 Metres at the Omagh Project
TORONTO, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) is pleased to announce resul
About this update from Galantas Gold Corporation
[{"type":"text","content":" TORONTO, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) is pleased to announce results for three holes from its ongoing 4,000-metre drilling program at the Omagh Project in Northern Ireland. All three holes were drilled from the underground development at the Kearney Vein. Drilling highlights: Hole FR-DD-22-UG-186 targeted a dilation zone within the Kearney Vein and intersected 31.8 grams per tonne (g/t) gold (Au) and 39.2 g/t silver (Ag) over 4.4 metres, including 69.6 g/t Au and 86.6 g/t Ag over 1.4 metres (see Table 1, Figures 1 & 2). Other intersections within this same hole include 10.4 g/t Au and 29.4 g/t Ag over 3.3 metres, and 6.7 g/t Au and 6.8 g/t Ag over 1.2 metres on the ‘B-lens’. Hole FR-DD-22-UG-182 targeted the main Kearney Vein and intersected 8.9 g/t Au and 36.4 g/t Ag over 2.1 metres (see Figure 3) approximately 25 metres south of the previously reported FR-DD-22-UG-181 intersection of 31.7 g/t Au and 58.5 g/t Ag over 7 metres (see Galantas’ press release dated March 21, 2022). Mario Stifano, CEO of Galantas, commented: “The ongoing drilling program has now successfully demonstrated the dilation zone model* at both the Kearney and Joshua veins with multiple high-grade intercepts including 17.4 g/t Au and 74.6 g/t Ag over 13.1 metres, and 10.1 g/t Au and 93.5 g/t Ag over 6.5 metres. Ongoing development of the underground decline will facilitate deeper drilling and more precise targeting of dilation zones to the south at Kearney, planned later this year. Drilling is also planned from the 1084 level, with the aim of identifying and delineating new dilation zones to the north at Kearney. “The Company has successfully commissioned the secondary egress and has now commenced blasting of our first stope at Omagh. The timeline to transition Galantas to an underground gold miner has taken longer than initially expected but the commitment and focus by the Galantas team to build and train a workforce, rehabilitate the mine and mill, secure critical mining equipment while also drilling some of our best intercepts to date is no small accomplishment. The Company is reviewing our mine plan and production guidance for the next 16 months including the timing to advance development to the higher grade Joshua Vein to provide multiple mine headings...