Galantas Gold Corporation
TSX VENTURE : GAL
AIM : GAL

Galantas Gold Corporation

May 01, 2007 10:00 ET

Galantas Intersects 2.5m Grading 22.53g/t Gold at Omagh

TORONTO, ONTARIO--(CCNMatthews - May 1, 2007) - Galantas Gold Corporation (the Company) (TSX VENTURE:GAL)(AIM:GAL), which has a 100% interest in Ireland's only gold mine at Omagh, today announced results from its ongoing core drilling program.

Drill holes OM-DD-07-15 and OM-DD-07-16, located on the same cross section in the central portion of the 850m long Kearney deposit, intersected mineralization at depths of approximately 60m and 100m respectively. A 0.65m intersection in hole 15 assayed 11.38g/t gold. A 2.5m intersection in hole 16 assayed 22.53g/t gold.



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Drill Hole 15 Sample length Assay grade Gold
From - To Metre(i) g/t
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68.75 - 69.00 0.25 16.0
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69.00 - 69.26 0.26 10.88
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69.26 - 69.40 0.14 4.04
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Total 0.65 m Weighted Average 11.38 g/t
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Drill Hole 16 Sample length Assay grade Gold
From - To Metre(i) g/t
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100.3 - 101.1 0.80 8.85
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101.1 - 102.0 0.90 13.97
----------------------------------------------------------------
102.0 - 102.2 0.20 103.94
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102.2 - 102.8 0.60 26.47
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Total 2.50 m Weighted Average 22.53 g/t
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(i) The angle between the vein and the drill hole is greater than
75 degrees therefore drilled width approximates true width.


At a greater depth in this same cross section, a 1989 Rio Tinto drill hole intersected several mineralized zones at a depth of approx 150m below datum, including 13.07 g/t gold over 0.82m and 59.22 g/t gold over 0.13m. (For data verification details see Report 851a by ACA Howe - Ewert, Armstrong & Langlands July 21st 2003 filed October 30th 2003 on www.sedar.com ). The company is awaiting assay results for hole 17 which was drilled in between holes 16 and the Rio Tinto hole.

The samples were taken by geological staff under the supervision of M.J. Lavigne P.Geo, (Vice President, Galantas Gold Corporation), the Qualified Person for the program. Sampling methodology, security & verification followed standard procedures previously detailed on April 5th 2006 and the samples were analysed (gold by fire assay and other metals by ICP-ORE) at OMAC Laboratory Ltd (an independent, certified CCRMP & ISO 17025 laboratory) in Galway, Ireland.

Galantas Gold Corporation Issued and Outstanding Shares total 167,535,855.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

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
    Maurice Lavigne P.Geo
    Vice President
    +44 (0) 2882 241100
    Email: info@galantas.com
    Website: www.galantas.com
    or
    ARM Corporate Finance Limited
    Nick Harriss
    +44 (0) 207 512 0191
    or
    Lewis Charles Securities Limited
    Kealan Doyle
    +44 (0) 207 456 9100