Galantas Gold Corporation
TSX VENTURE : GAL
AIM : GAL

Galantas Gold Corporation

April 05, 2006 10:55 ET

Galantas Gold Corporation: Rich Extension '22.24 Grammes gold /tonne' to Kearney Vein

TORONTO, ONTARIO--(CCNMatthews - April 5, 2006) - Galantas Gold Corporation, (TSX VENTURE:GAL)(AIM:GAL) a company with a gold mine in development in County Tyrone, Northern Ireland, announces that channel sampling has revealed an extension of approximately 30m (metres) to the southern end of the Kearney Vein.

Thirty nine of the assays in excess of a cut off of 3gAu/t carried an average gold grade of 22.24gAu/t (grammes gold/tonne) over an average width of 0.36m. Assays varied from 3.34gAu/t over 0.5m up to 106.24 gAu/t over 0.28m. The width and grade are within mining parameters set for the Kearney vein and the mineralization will be incorporated within the first phase of open-pit mining. Using sampling protocols similar to those of Rio Tinto (1988-89), 124 samples were taken from 23 saw cut channels, at approximately 1m intervals and oriented perpendicular to the vein. A table of the assay results is reproduced below.

The ore is an extension of the Rio Tinto sampled Kearney vein. For comparison, an analysis of 24m of Rio Tinto (1988-89) historical channel samples immediately adjoining to the north demonstrated an average gold grade of 24.30gAu/t over an average width of 1.08m. The Rio Tinto channel samples are considered relevant and reliable and have been used by ACA Howe (2003 & 2004) for ore reserve calculation purposes. The flotation plant currently under construction at the Omagh Mine is designed for a mill head grade of 20gAu/t gold.

Mr. M.J.(Moe) Lavigne, P.Geo, is the qualified person overseeing the sampling. Samples were placed in numbered bags, sealed with cable ties and sent to OMAC Laboratories Limited, Ireland, which is a certified CCRMP laboratory. Thirty gramme sub-samples were fire assayed with an Atomic Absorption finish, along with 3 standards and 3 blanks. Duplicate assays were carried out on 10% of samples.

Galantas Gold Corporation is building Ireland's first gold mine on its 189 sq km 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 by marketing and selling certified Galantas ™ Irish gold jewellery.



The table of assays is as follows:-

---------------------------------------------------------------
Omagh Minerals Limited 2006 assays
----------------------------------------------
Au
(g/t) 0.16 5.48
line / / / 1.46 0.36
263 metre 0.3 0.25 /0.4 /0.8
----------------------------------------------
Au
(g/t) 0.55 0.21
line / / 14.56 5.24 /
264 metre 0.3 /0.3 /0.3 0.34
----------------------------------------------
Au
(g/t) 0.18 18.08 0.46
line / / / / 0.1/
265 metre 0.3 0.35 0.65 0.55
----------------------------------------------
Au
(g/t) 0.05 52.00 0.34
line / / / 1.18 /
266 metre 0.3 0.26 /0.3 0.37
----------------------------------------------
line Au 2.11 46.88 1.52
267 (g/t) / /0.3 /0.6
/ 0.4
metre
----------------------------------------------
Au
(g/t) 0.1 53.28 0.69
line / / 0.49 / /
268 metre 0.28 /0.4 0.42 0.76
----------------------------------------------
Au
(g/t) 0.49 36.32
line / / / 1.89
269 metre 0.33 0.24 /0.9
----------------------------------------------
Au
(g/t) 0.06 4.85 0.29
line / / / /
270 metre 0.3 0.32 0.83
----------------------------------------------
Au
(g/t) 0.05 0.46 0.16
line / / / / 0.01
271 metre 0.3 0.24 0.39 /0.4
----------------------------------------------
Au
(g/t) 0.04 1.53 0.35
line / / / /
272 metre 0.3 0.38 0.65
----------------------------------------------
Au
(g/t) 0.14 7.84 2.47
line / / / / 0.01
273 metre 0.3 0.32 0.42 /0.7
----------------------------------------------
Au
(g/t) 0.12 19.64
line / / / 3.34
274 metre 0.3 0.49 /0.5
----------------------------------------------
Au
(g/t) 0.1 3.74 0.63
line / / / /
275 metre 0.3 0.26 0.54
----------------------------------------------
Au
(g/t) 0.32 0.04
line / / 0.19 0.04 /
276 metre 0.44 /0.3 /0.6 1.16
----------------------------------------------
Au
(g/t) 0.01 0.03 4.46
line / / 0.03 / /
277 metre 1.22 /0.4 0.59 0.35
----------------------------------------------
Au
(g/t) 0.31 0.33
line / / / 3.29 1.31
278 metre 0.35 0.35 /0.4 /0.3
----------------------------------------------
Au
(g/t) 0.06 4.60 5.76 0.55
line / / / / /
279 metre 0.35 0.72 0.25 0.64
----------------------------------------------
Au
(g/t) 0.02 5.68 0.75
line / / / / 0.13
280 metre 0.3 0.76 0.28 /1.1
----------------------------------------------
Line281 not
collected
Au
(g/t) 0.41 3.86 0.03
line / / / 0.09 /
282 metre 0.27 0.33 /0.3 0.46
----------------------------------------------
Au
(g/t) 1.33
line / / 6/ 4.64 6.04
283 metre 0.36 0.5 /0.3 /0.5
----------------------------------------------
Au
(g/t) 0.17 22.56
line / / 12.56 55.36 /
284 metre 0.33 /0.3 /0.3 0.44
----------------------------------------------
Au
(g/t) 0.53 28.48 11.28
line / / / / 1.71
285 metre 0.23 0.24 0.39 /1
----------------------------------------------
Au
(g/t) 0.07 7.16 0.22
line / / / / 0.19
286 metre 0.22 0.24 0.53 /0.6
----------------------------------------------
Line 287 not
collected


continued......

---------------------------------------------------------------
Omagh Minerals Limited 2006 assays
----------------------------------------------------
Au
(g/t)
line /
263 metre
----------------------------------------------------
Au
(g/t)
line / 0.13/
264 metre 0.85
----------------------------------------------------
Au
(g/t)
line /
265 metre
----------------------------------------------------
Au
(g/t)
line / 0.14/
266 metre 0.57
----------------------------------------------------
line Au
267 (g/t)
/
metre
----------------------------------------------------
Au
(g/t)
line / 0.03/
268 metre 0.39
----------------------------------------------------
Au
(g/t)
line /
269 metre
----------------------------------------------------
Au
(g/t)
line /
270 metre
----------------------------------------------------
Au
(g/t)
line /
271 metre
----------------------------------------------------
Au
(g/t)
line /
272 metre
----------------------------------------------------
Au
(g/t)
line /
273 metre
----------------------------------------------------
Au
(g/t)
line /
274 metre
----------------------------------------------------
Au
(g/t)
line /
275 metre
----------------------------------------------------
Au
(g/t)
line /
276 metre
----------------------------------------------------
Au
(g/t) 0.23 0.03 0.11 0.01
line / 0.16/ / / / /
277 metre 0.54 0.42 0.6 0.76 0.28
----------------------------------------------------
Au
(g/t) 12.00 0.11
line / 0.85/ / / 0.03
278 metre 0.25 0.36 0.7 /0.4
----------------------------------------------------
Au
(g/t)
line / 0.03/
279 metre 1.08
----------------------------------------------------
Au
(g/t)
line /
280 metre
----------------------------------------------------
Line281 not
collected
Au
(g/t) 26.56 0.85 0.01 0.01
line / 1.51/ / / / /
282 metre 0.36 0.47 0.8 0.33 0.79
----------------------------------------------------
Au
(g/t) 2.11 0.50 9.96 2.48 0.49
line / 22.56 / / 59.84 / / /
283 metre /0.35 0.56 0.31 /0.4 0.28 0.3 0.28
----------------------------------------------------
Au
(g/t) 2.04 1.7 0.36 9.12
line / 6.00/ / / 86.40 / 5/ /
284 metre 0.24 0.44 0.43 /0.3 0.27 0.33 0.33
----------------------------------------------------
Au
(g/t) 74.08 2.4
line / 0.77/ / /
285 metre 0.29 0.44 0.33
----------------------------------------------------
Au
(g/t) 87.68 8.88
line / 106.24 / /
286 metre /0.28 0.28 0.61
----------------------------------------------------
Line 287 not
collected
---------------------------------------------------------------------


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 P.Eng
    Executive Chairman
    +44 (0) 2882 241100
    or
    Galantas Gold Corporation
    Roland Phelps C.Eng
    President & CEO
    +44 (0) 2882 241100
    or
    Galantas Gold Corporation
    Moe Lavigne P.Geo
    Vice President
    +44 (0) 2882 241100
    info@galantas.com
    www.galantas.com
    or
    Bishopsgate Communications Ltd.
    Nick Rome
    +44 (0) 207 430 1600
    or
    ARM Corporate Finance Limited
    Nick Harriss
    +44 (0) 20 7512 0191
    or
    Lewis Charles Securities Limited
    David Scott
    +44 (0) 20 7065 1150