Galantas Gold says Omagh results underscore success of drill programme

(Alliance News) - Galantas Gold Corp on Monday said results from four holes at its Omagh project show the continued success of its drilling programme in Northern Ireland.

Galantas is a Northern-Ireland focused gold mining company, which owns and operates an open pit gold mine near Omagh, County Tyrone. The project covers a 189 square-kilometre licence area, approximately 1.5 hours from Belfast by car.

On Monday, Galantas said it has drilled three holes from an underground platform towards the south of its development on the Kearney Vein, and another from a new platform in the north.

Hole FR-DD-22-UG-191 targeted a northern extension within the Kearney Vein, intersecting 6.3 grams per tonne of gold, and 32.1 grammes per tonne of silver over 11 metres.

Hole FR-DD-22-UG-188, which was drilled from the lowest drill platform, intersected the main Kearney Vein 40 metres below the resource model at 9.3 grammes per tonne of gold, and 23.3 of silver over 2.9 metres.

Holes FR-DD-22-UG-187 and 184 both intersected the main Kearney Vein and the B-lens, which is a vein that runs parallel to the Kearney Vein, approximately 17 metres east.

"These results underscore the success of the drilling programme at the Omagh gold project by extending the dilation zones at the main Kearney Vein further north, as we predicted from earlier drilling," said Chief Executive Director Mario Stifano.

"We are pleased that our drill data so far is supporting the theory that dilation zones - a pattern of vein swelling and grade increases - are projected at depth and predictably identified at regular intervals along strike of the first five levels of the Kearney Vein underground development."

Galantas shares were trading 2.0% lower at 33.33 pence each in London on Monday afternoon.

By Holly Beveridge; hollybeveridge@alliancenews.com

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