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Geophysical Results at Galantas Gold’s Omagh Project in Northern Ireland Indicate Potential of Near-Site Exploration Targets
TORONTO, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) is pleased to report that ne
About this update from Galantas Gold Corporation
[{"type":"text","content":" TORONTO, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) is pleased to report that new geophysical surveys near the Cavanacaw Gold Mine at the Omagh Project in County Tyrone, Northern Ireland, indicate the potential presence of gold-bearing structures (see Figure 1). Galantas recently carried out induced polarization (IP) gradient array surveys close to the Cavanacaw Gold Mine. The Company’s intention was to determine the value of the gradient array method not previously tried in this area. Two one-square-kilometre test grids covered targets that were previously identified by other methods. The East Grid incorporated the Elkins Vein about 500 metres east of the main Kearney Vein. It was last drilled in 2006-7 with shallow downhole intersections grading up to 16.4 grams per tonne (g/t) gold (Au) over 0.6 metres, 11.3 g/t Au over 1.7 metres, and 4.1 g/t Au over 3.3 metres (see ACA Howe technical report (2008) for full dataset). The Elkins Vein has been explored over a strike length of 250 metres. An apparent resistivity IP anomaly aligned north-south coincides with the previously known portion of the Elkins Vein. The resistivity anomaly suggests continuity of the Elkins structure to the south. A further resistivity high, approximately 300 metres to the east, also aligns with historically recorded base-of-till gold. The West Grid covers a historical gold anomaly cluster at Pigeon Top approximately 1,500 metres west of the Joshua Vein. Records of historic Pionjar drilling to base-of-till from the show that the original licence holders recovered samples at rock-head with values up to 13.5 g/t gold. High values of residual resistivity, oriented north-south over approximately 500 metres, coincide with these base-of-till gold anomalies. No diamond drilling has been conducted at Pigeon Top to date. According to Consulting Geophysicist Graham Reid of BRG Ltd., the anomalies most likely represent fault structures in the bedrock. There is no evidence that they are caused by variation in the overburden. The local and regional bedrock stratigraphy is oriented east-north-east at a high angle to the anomalies. In contrast, the known Cavanacaw vein systems all have a northerly orientation within 20 degrees of each other. Technical literature on other occurrences indi...