Picture of Galantas Gold logo

GAL Galantas Gold News Story

0.000.00%
ca flag iconLast trade - 00:00
Basic MaterialsSpeculativeMicro CapSucker Stock

REG - Galantas Gold Corp - Galantas Gold Plans To Drill Key Target Area

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240528:nRSb9594Pa&default-theme=true

RNS Number : 9594P  Galantas Gold Corporation  28 May 2024

 

 

GALANTAS GOLD PLANS TO DRILL KEY TARGET AREA NORTH OF THE OMAGH MINE SITE

 

May 28, 2024, TORONTO, CANADA - Galantas Gold Corporation (TSX-V & AIM:
GAL; OTCQX: GALKF) ("Galantas" or the "Company") is pleased to announce plans
to drill test the Kearney North target at the Omagh Project in County Tyrone,
Northern Ireland.

 

Mario Stifano, CEO of Galantas, commented: "We're keen to return to surface
drilling this year to test for a northern extension of the main Kearney Vein,
and to explore for further dilation zones. We previously drilled 32 grams per
tonne gold over 4.4 metres, and 32 grams per tonne gold over 7 metres(1)
within dilation zones on the Kearney Vein. In this program, we are aiming to
uncover the exciting potential to extend the resource northwards and build on
our existing high-grade gold resources."

 

At the Cavanacaw deposit area where sulphide rich, gold-bearing veins are well
developed, geological modelling suggests that a concealed ore shoot may lie to
the north of the site at greater depth. The target area, approximately 180
metres north of the current extent of the main Kearney Vein, coincides with a
historical Pionjar (base of till) anomaly of 31.5 grams per tonne gold (see
Figure 1).

 

The Kearney Vein system has a strike length of approximately 850 metres,
proved by drilling. It remains open at depth down plunge. The vein is well
developed in the 'Cavanacaw Member', a competent host lithology. This host
unit dips to the north and is expected to lie beneath a pelitic horizon in the
current target area.

 

The program comprises three drill holes (approximately 1,000 metres) which
will test the Kearney Vein extension at depths over 200 metres. The work will
be completed under Permitted Development following a positive meeting of the
Local Council Planning Committee on May 22, 2024.

 

Figure 1: Map of the main Kearney and Joshua veins, North Kearney target area
and historical Pionjar drill results.

 

(1) At the Kearney Vein, examples of drill holes that fall within dilation
zones are drill hole FR-DD-22-UG-181 at a vertical depth of 150 metres that
intersected 7 metres (estimated 3.3 metres true thickness) of 31.7 grams per
tonne (g/t) gold, and drill hole FR-DD-22-UG-186 at a vertical depth of 143
metres that intersected 4.4 metres (estimated 3.0 metres true thickness) of
31.8 g/t gold (see Galantas' news releases dated March 21, 2022 and August 4,
2022).

 

Qualified Person

 

Scientific and technical disclosures in this news release have been reviewed
and approved by Dr. Sarah Coulter, who is considered, by virtue of her
education, experience and professional association, a Qualified Person under
the terms of NI 43-101. Dr. Coulter is not considered independent under NI
43-101 as she is the Chief Geologist of Galantas Gold Corporation.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

About Galantas Gold Corporation

 

Galantas Gold Corporation is a Canadian public company that trades on the TSX
Venture Exchange and the London Stock Exchange AIM market, both under the
symbol GAL. It also trades on the OTCQX Exchange under the symbol GALKF. The
Company's strategy is to create shareholder value by operating and expanding
gold production and resources at the Omagh Project in Northern Ireland, and
exploring the Gairloch Project hosting the Kerry Road gold-bearing VMS deposit
in Scotland.

 

Enquiries

 

Galantas Gold Corporation

Mario Stifano: Chief Executive Officer

Email: info@galantas.com

Website: www.galantas.com

Telephone: +44(0)28 8224 1100

 

Grant Thornton UK LLP (AIM Nomad)

Philip Secrett, Harrison Clarke, Elliot Peters

Telephone: +44(0)20 7383 5100

 

SP Angel Corporate Finance LLP (AIM Broker)

David Hignell, Charlie Bouverat (Corporate Finance)

Grant Barker (Sales & Broking)

Telephone: +44(0)20 3470 0470

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDQKOBBFBKDOPB

Recent news on Galantas Gold

See all news