Galantas Gold Corporation
TSX VENTURE : GAL
AIM : GAL

Galantas Gold Corporation

January 09, 2008 10:00 ET

Galantas Reports Remaining Infill Drilling on Kearney Deposit

TORONTO, ONTARIO--(Marketwire - Jan. 9, 2008) - Galantas Gold Corporation ("the Company") (TSX VENTURE:GAL)(AIM:GAL) reports results, tabulated below, for 3 diamond drill holes on its Kearney deposit. The 3 holes were the last of the 2007 campaign whose purpose was to infill the grid to approximate 25-metre centres in advance of independent preparation of a Canadian National Instrument (NI) 43-101 compliant resource statement.



------------------------------------------------------------------------
Core True Vertical
Hole Collar Location From To Length Width Depth
------------------------------------------------------------------------
(Dip at Collar; Az) (m) (m) (m) (m) (m)
------------------------------------------------------------------------

------------------------------------------------------------------------
O7-46 371174N/240241E 57.22 57.38 0.16 0.11 40
------------------------------------------------------------------------
(-44.5degrees
and 270degrees) 164.38 166.46 2.08 1.45 115
------------------------------------------------------------------------
including 165.07 165.55 0.48 0.33 115
------------------------------------------------------------------------

------------------------------------------------------------------------
371217N /
O7-48 240229E 162.74 168.76 6.02 4.21 115
------------------------------------------------------------------------
(-45.5degrees
270degrees)
------------------------------------------------------------------------
including 162.74 166.31 3.57 2.50 115
------------------------------------------------------------------------

------------------------------------------------------------------------
O7-49 371275 / 240250E 187.15 187.41 0.26 0.18 130
------------------------------------------------------------------------
(-45degrees 270degrees)
------------------------------------------------------------------------


-------------------------------------
Hole Assays
-------------------------------------
g/t g/t %
gold silver lead
-------------------------------------

-------------------------------------
O7-46 33.92 5.00 less than 0.01
-------------------------------------
and 5.20 6.81 0.40
-------------------------------------
including 14.40 18.00 1.29
-------------------------------------

-------------------------------------
O7-48 5.95 3.99 0.02
-------------------------------------

-------------------------------------
including 8.95 6.73 0.03
-------------------------------------

-------------------------------------
O7-49 1.94 3.94 0.01
-------------------------------------

-------------------------------------


Drill Holes 07-46 and 07-48 intersected the Kearney deposit as projected, confirming depth persistence in the northern sector of the deposit. Drill Hole 07-49 tested the northern extremity of the Kearney deposit which is interpreted to have been largely cut out by the Luis Shear Zone, a major cross cutting structure running sub-parallel to Kearney.

All of the results are now in the hands of the Company's independent consulting geologists, A. C. A. Howe International Limited, who advise that a NI 43-101 compliant report is in the final stages of preparation.

The drilling programme is under the supervision of the Company's geological staff who work under the general direction of L. J. Gunter, P. Eng (Ontario), the Qualified Person for the programme. Sampling methodology, security and data verification followed standard protocols as previously detailed on April 5, 2006. The core samples were analysed (gold by fire assay and other metals by ICP-ORE) at OMAC Laboratories Ltd., an independent certified CCRMP & ISO 17025 laboratory located in Galway, Ireland.

The Company has 175,675,855 common shares issued and outstanding.

The TSX Venture Stock Exchange has not commented upon and accepts no responsibility for the content of this press release.

Contact Information

  • Galantas Gold Corporation
    Roland Phelps
    President and CEO
    +44(0)2882241100
    or
    Galantas Gold Corporation
    Jack Gunter
    Chairman
    +44(0)2882241100
    Email: info@galantas.com
    Website: www.galantas.com
    or
    Blomfield Corporate Finance Ltd.
    Nick Harris
    44(0)2075120191
    or
    Lewis Charles Securities Limited
    Kealan Doyle
    +44(0)2074569100