Galantas Gold Corporation GALANTAS LOOKS TO ESTABLISH EARLIER ORE FOR OMAGH (8116L)
06 October 2016 - 5:30PM
UK Regulatory
TIDMGAL
RNS Number : 8116L
Galantas Gold Corporation
06 October 2016
GALANTAS GOLD CORPORATION
TSXV - "GAL"
AIM - "GAL"
GALANTAS LOOKS TO ESTABLISH EARLIER ORE FOR OMAGH GOLD MINE
6(th) October 2016. Galantas Gold Corporation (the Company or
Galantas) intends, via a Northern Ireland subsidiary, to bulk
sample the Kearney stringer vein on its Omagh gold property.
Grab samples earlier reported (7(th) September 2016) from the
stringer vein ranged from 52.9g/t gold to 6.2 g/t gold. The bulk
sampling operation is designed to comprehensively assess the
length, width and gold grade of the gold stringer at surface and it
is expected to extract the sample and restore the surface within a
four month period.
Drill core H159 (reported 24(th) August 2016) intersected 1
metre of mineralisation grading 5.7g/t gold and 6.2g/t silver, some
50 metres vertically below the earlier reported grab samples and 11
metres south from the planned underground development decline.
The bulk sample material will be assessed within the existing
processing plant to provide data to assist the determination of
commerciality of underground mining of the stringer vein. The
processing of ore earlier in the development program than
previously considered may have positive cash flow implications.
Further to the Company's announcement on 29(th) September 2016,
Galantas has been advised that the Judicial Review of its planning
consent has been listed for continuation of the hearing on 6(th) ,
7(th) and 8(th) December 2016.
The Company notifies a change of address for the Registered
Office in Canada. Effective immediately, the new address is :-
c/o DSA Corporate Services Inc, 82 Richmond Street East,
Toronto, Ontario, Canada M5C 1P1.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press
release contains forward-looking statements within the meaning of
the United States Private Securities Litigation Reform Act of 1995
and applicable Canadian securities laws, including amongst others,
geological matters and development intentions for the Omagh Gold
project. Forward-looking statements are based on estimates and
assumptions made by Galantas in light of its experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors that Galantas
believes are appropriate in the circumstances. Many factors could
cause Galantas' actual results, the performance or achievements to
differ materially from those expressed or implied by the forward
looking statements or strategy, including: gold price volatility;
discrepancies between actual and estimated production, actual and
estimated metallurgical recoveries and throughputs; mining
operational risk, geological uncertainties; regulatory
restrictions, including environmental regulatory restrictions and
liability; risks of sovereign involvement; speculative nature of
gold exploration; dilution; competition; loss of or availability of
key employees; additional funding requirements; uncertainties
regarding planning and other permitting issues; and defective title
to mineral claims or property. These factors and others that could
affect Galantas's forward-looking statements are discussed in
greater detail in the section entitled "Risk Factors" in Galantas'
Management Discussion & Analysis of the financial statements of
Galantas and elsewhere in documents filed from time to time with
the Canadian provincial securities regulators and other regulatory
authorities. These factors should be considered carefully, and
persons reviewing this press release should not place undue
reliance on forward-looking statements. Galantas has no intention
and undertakes no obligation to update or revise any
forward-looking statements in this press release, except as
required by law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Enquiries
Galantas Gold Corporation
Jack Gunter P.Eng - Chairman
Roland Phelps C.Eng - President & CEO
Email: info@galantas.com
Website: www.galantas.com
Telephone: +44 (0) 2882 241100
Grant Thornton UK LLP (Nomad)
Philip Secrett, Richard Tonthat
Telephone: +44(0)20 7383 5100
Whitman Howard Ltd (Broker & Corporate Adviser)
Ranald McGregor-Smith, Nick Lovering
Telephone: +44(0)20 7659 1234
This information is provided by RNS
The company news service from the London Stock Exchange
END
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October 06, 2016 02:30 ET (06:30 GMT)
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