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TORONTO, May 28, 2024 (GLOBE NEWSWIRE) -- 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 metres1 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.