Galahad Metals Inc.
TSX VENTURE : GAX

Galahad Metals Inc.

December 02, 2010 12:46 ET

Galahad Completes Initial Drilling on Regcourt Property

OTTAWA, ONTARIO--(Marketwire - Dec. 2, 2010) - Galahad Metals Inc. (TSX VENTURE:GAX) is pleased to announce that the diamond-drilling portion of the current exploration program at its wholly-owned Regcourt Gold Project, has been completed. The Regcourt Property is 30 km east of Val-d'Or, Québec, and consists of 53 claims covering over 32 km2 in the eastern part of the Abitibi Greenstone Belt. The current drilling campaign included nine (9) holes between 200 m and 350 m long, totaling 2,342 metres.

Initial logging of the core was completed at the facilities of MRB & Associates of Val-d'Or. The collection, preparation and assaying of core samples is ongoing. To date, 109 samples have been submitted to ALS Chemex Laboratories in Val-d'Or, QC; results are pending. 

The next phase of exploration will comprise an "IPower3D"-array, down-hole geophysical survey that will be completed by Abitibi Geophysics of Val-d'Or. According to a representative of Abitibi Geophysics, the survey is scheduled to be completed within the next two weeks.

The 2010 exploration programme at the Regcourt Property is designed to explore and validate historic drill- and underground-intersections around the abandoned Regcourt Mine. The historic data, which has been compiled into a 3-D Gemcom® model, indicates that the mineralized vein system continues below the historic workings, which only reached 165 metres.

The drilling program is being supervised by John Langton M.Sc., P. Geo, of MRB & Associates, who is the Qualified Person as defined by National Instrument 43-101 for the Regcourt Project, and has approved the contents of this release.

"The statements in this Press Release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has not approved or disapproved of the information contained in this Press Release."

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