Galantas Gold Corporation
TSX VENTURE : GAL
AIM : GAL

Galantas Gold Corporation

December 10, 2007 10:00 ET

Galantas Confirms High Grade Zone in Kearney Gold Deposit

LONDON, UNITED KINGDOM--(Marketwire - Dec. 10, 2007) - Galantas Gold Corporation (AIM:GAL)(TSX VENTURE:GAL) announces diamond drill core assay results from 4 additional holes in its Kearney gold deposit in Northern Ireland. Significant results include:



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KEARNEY VEIN - CORE DRILLING RESULTS, November, 2007
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Collar
Location Grade Grade Grade
Hole Dip at From To Core True Vertical (g/t- (g/t (%-
ID Collar (m) (m) Length Width Depth gold) silver) Lead)
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OM-DD- 371175N /
07-43 240125E 53.95 54.65 0.70 0.49 38.35 18.13 16.95 0.07
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-45.3
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OM-DD- 371071N /
07-44 240171E 98.64 98.76 0.12 0.08 69.99 16.58 14.49 0.78
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-45.2
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OM-DD- 370677N / less less
07-45 240224E than than
41.70 41.87 0.17 0.12 29.33 1.98 5 .01
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and less less
than than
-44.7 83.27 83.50 0.23 0.16 58.57 5.44 5 .01
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OM-DD- 371093N /
07-47 240205E 175.09 177.94 2.85 2.02 121.63 18.18 111.39 2.09
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including -44.0 175.09 176.84 1.75 1.24 121.63 29.09 179.35 3.39
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and 208.77 211.68 2.51 1.77 145.02 7.77 4.90 0.34
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including 210.47 210.71 0.24 0.17 146.20 42.08 25.60 0.16
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OM-DD-07-47 tested the strike extent of the notably high grade mineralization intersected at a vertical depth of approximately 200 metres in hole OM-DD-07-41 (Reference: press release of 17 October, 2007). Significant shallow gold intersections in earlier holes OM-DD-06-05 and OM-DD-07-06 (press release dated September 22, 2006) are interpreted to represent the same high grade zone at surface within the Kearney deposit. Thus, the high grade "core zone" appears to be an open ended steeply plunging zone of mineralization which extends from surface to a minimum of 200 metres in vertical depth. Its strike extent is at least 25 metres, since it was intersected in 2 holes 25 metres apart.

Drilled in the northern part of the Kearney vein as a shallow infill hole, OM-DD-07-43 intersected 4 areas of elevated gold grades (greater than 1g/t) including an important intersection of 18.13g/t Au over 70cm that included a gold value of 35.20g/t over 25cm.

Drilled beneath the southern end of the Kearney open pit, OM-DD-07-45 was a sterilization hole to guide pit development.

The infill drilling programme has now fulfilled the objective of detailing the Kearney deposit prior to a recalculation of reserves and resources to the standards of (Canadian) National Instrument 43-101. Results for the remaining two drill holes are not yet available, pending assay. Recalculation of reserves and resources awaits results.

The drilling programme including sampling is under the control 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 samples were analysed (gold by fire assay and other metals by ICP-ORE) at OMAC Laboratories Ltd., an independent certified CCRMP & ISO 17025 laboratory in Galway, Ireland.

Galantas Gold Corporation 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 & CEO
    +44 (0) 2882 241100
    or
    Galantas Gold Corporation
    Jack Gunter
    Chairman
    +44 (0) 2882 241100
    Email: info@galantas.com
    Website: www.galantas.com
    or
    Blomfield Corporate Finance Ltd
    Nick Harriss
    +44 (0) 20 7512 0191
    or
    Lewis Charles Securities Limited
    Kealan Doyle
    +44 (0) 207 456 9100