Galantas Gold Corporation
TSX VENTURE : GAL

Galantas Gold Corporation

September 19, 2005 12:11 ET

Galantas VTEM Survey Unveils Strong Anomalies

OMAGH, NORTHERN IRELAND and TORONTO, ONTARIO--(CCNMatthews - Sept. 19, 2005) - Galantas Gold Corporation (TSX VENTURE:GAL) announces that it has received results from a VTEM airborne survey over its 189 square kilometer prospecting licence in Co Tyrone. The survey generated discrete anomalies with a notable concentration in the eastern sector where the Omagh Mine is currently being developed. The anomalies are interpreted to represent conductive sulphide rich segments of quartz veins. All of the known sulphide zones in the Kearney vein swarm contain gold and there is a correlation of gold grade with sulphide concentration.

The anomalies generated are stronger than those associated with the Kearney orebody. Significantly, some of the VTEM conductors have strong coincident gold geochemical anomalies and these are obvious high priority drilling targets. The geochemical data, developed by Rio Tinto, previous owners of the licence, consists of analytical data from detailed stream sediment, soil and deep overburden sampling. The VTEM system can resolve conductive bodies through the blanket of clay and peat overburden which covers much of the Galantas license. The system has been well proven in the Canadian Shield, with a high success rate for detecting sulphides. The data is being interpreted by an independent consulting geophysicist as a precursor to the specification of a diamond drilling program.

Mr. M. J. Lavigne, P.Geo, is the qualified person responsible at Galantas for the programme.

Galantas Gold Corporation is building Ireland's first gold mine, with production scheduled for Spring 2006. 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 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