Galantas Gold Corporation
TSX VENTURE : GAL

Galantas Gold Corporation

June 21, 2005 11:18 ET

Galantas Gold Corporation: Ireland Leads EU with High Tech Helicopter Gold Prospecting

OMAGH, NORTHERN IRELAND and TORONTO, ONTARIO--(CCNMatthews - June 21, 2005) - An Irish gold mining company, Galantas Gold Corporation, (TSX VENTURE:GAL) has engaged Geotech Ltd to fly the latest technology in airborne geotechnical surveys over its 189 square kilometre licence area in Tyrone and Fermanagh. The VTEM helicopter-borne system, which has yet to be flown in the European Union, has just received consent from aviation authorities and will be flown immediately. The survey is the first step in a comprehensive and revitalised exploration programme over the Galantas prospecting licence.

VTEM is a highly sensitive system which measures the electro-magnetic properties of rocks and minerals buried in the earth, up to depths of 750m. In the local context, it has the ability to detect gold bearing mineral veins that have a length greater than 25m.

Goetech's system has been flown in North America with several notable successes. For example, Wallbridge Mining Company drilled VTEM anomalies on its Beith optioned property and discovered high grade nickel (March 2005). Many other examples are highlighted on Geotech's website www.geotechairborne.com

Maurice Lavigne, Director of Exploration and Development at Galantas Gold said, "We are excited about the use of the VTEM system. Our licence area is covered with a blanket of clay rich glacial gravel which has hampered the process of discovery, but is transparent to the VTEM system. Gold has been found in numerous locations in the glacial gravel and the VTEM survey will help locate the bedrock source." Mr. Lavigne, P.Geo, is the qualified person responsible at Galantas for the programme.

Galantas Gold Corporation is building Ireland's first gold mine on its 189 sq km exclusive Prospecting Licence. The corporate aim is to increase the resource base on the property through exploration and mine development, to expand mine production in stages, and to add value to the Company's production by marketing and selling certified Galantas ™ Irish gold jewellery. The company has just received delivery of the excavation equipment needed for its small quarry, just outside of Omagh, Co.Tyrone and expects to be producing gold in the spring of 2006. Galantas President, Roland Phelps said, "We are carefully developing the Omagh property, within the strict conditions imposed by the Department of the Environment NI, without the use of toxic chemicals, relying on safe flotation and gravity technology. We are providing skilled employment and the $3.5million investment will be a real boost to the local economy."

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".

Contact Information

  • Galantas Gold Corporation
    Jack Gunter
    Executive Chairman
    +44 (0) 2882 241100
    or
    Galantas Gold Corporation
    Roland Phelps
    President & CEO
    +44 (0) 2882 241100
    or
    Galantas Gold Corporation
    Moe Lavigne
    Vice President
    +44 (0) 2882 241100
    info@galantas.com
    www.galantas.com