Galantas Gold drilled 26.7 grams/ton of gold at 2.9 meters

2021-11-25 08:46:02 By : Ms. Lynn Li

November 24, 2021 02:00 ET | Source: Galantas Gold Corporation Galantas Gold Corporation

Toronto, November 24, 2021 (Global News Agency)-Galantas Gold Corporation (TSX-V and AIM: GAL; OTCQX: GALKF) ("Galantas" or "Company") is pleased to announce the second underground borehole As a result of its ongoing 4,000-meter drilling program in the Omagh project in Northern Ireland.

The second hole was drilled from the lowest level developed underground in Kearney Vein, returning to two intersections:

Mario Stifano, CEO of Galantas, commented: "As the company advances its plan to start mining early, additional continuous high-grade interceptions in parallel veins indicate that it is possible to discover more high-grade mineralization and expand gold in Omagh. Resources. New year. With the mining and depth of the deposits still open, Galantas’ Omagh project provides a rare opportunity to significantly increase high-grade resources while producing gold."

Table 1: Summary of drilling results.

Figure 1: A long section of Kearney, showing part of the resource model, underground development, some key vein intersections and the first two holes FR-DD-21-UG-168 and 170. Room/Annex Ng/a125432b-64b0-42b4-afe1-4aeb6c64669e

Figure 2: Core drilling from hole FR-DD-21-UG-170.

Figure 3: Cross-section showing the results of the nearest hole FR-DD-21-UG-170.

The scientific or technical disclosures in this press release have been reviewed and approved by Dr. Sarah Coulter, and based on her education, experience, and professional associations, she is considered a qualified person under NI 43-101. According to NI 43-101, Dr. Coulter is not considered independent because she is the chief geologist of Galantas Gold Corporation.

Neither TSX Venture Exchange nor its regulatory service provider (as the term is defined in the policies of TSX Venture Exchange) is responsible for the adequacy or accuracy of this press release.

The information contained in this announcement is deemed to constitute inside information, according to the retained EU legal version of the Market Abuse Regulation (EU) No. 596/2014 ("UK MAR"), which is part of the UK law, according to 2018 The European Union (Exit) Act of 2016. Disclosure of information in accordance with the company's obligations under Article 17 of the British MAR. After the announcement of this announcement, the inside information is now deemed to be in the public domain.

Galantas Gold Corporation is a Canadian listed company that trades on the TSX-Venture Exchange and the AIM market of the London Stock Exchange under the trading code GAL. It is also traded on the OTCQX exchange under the code GALKF. The company's strategy is to create shareholder value by operating and expanding the first gold mine in Northern Ireland.

Galantas Gold Corporation Mario Stifano: CEO Email: Website: Phone: 44 (0)28 8224 1100

Grant Thornton UK LLP (AIM Nomad) Philip Secrett, Harrison Clarke, George Grainger Tel: 44(0)20 7383 5100

Panmure Gordon & Co (AIM Broker & Corporate Adviser) Nick Lovering, Hugh Rich Tel: 44(0)20 7886 2500

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian Securities Laws, including the results of the exploration project of the Omagh Gold Project; discovering more high-grade mineralization in Omagh and expanding the potential of gold resources; The company plans to start mining at the beginning of the new year; and the deposit remains open during strikes and depths. Forward-looking statements are based on Galantas's estimates and assumptions based on its experience and views on historical trends, current conditions and expected future developments, as well as other factors that Galantas believes are appropriate in such circumstances. Many factors may cause Galantas' actual results, performance or achievements to differ materially from those expressed or implied in forward-looking statements or strategies, including: gold price fluctuations; actual and estimated production, actual and estimated metallurgical recovery rates, and throughput The difference between mining operations and geological uncertainties; regulatory restrictions, including environmental regulatory restrictions and liabilities; the risk of sovereign participation; the speculative nature of gold exploration; dilution; competition; the loss or availability of key employees; additional funding requirements; planning Uncertainty with other licensing issues; and defective mineral claims or property rights. These factors and other factors that may affect Galantas' forward-looking statements are discussed in more detail in the section entitled "Risk Factors" in the Galantas management discussion and analysis of Galantas' financial statements and elsewhere in the documents submitted to the company from time to time. Canadian provincial securities regulators and other regulatory agencies. These factors should be carefully considered, and those reviewing this press release should not place undue reliance on forward-looking statements. Except as required by law, Galantas has no intention and no obligation to update or revise any forward-looking statements in this press release.