Mr. Robin Dow reports
GALAHAD METALS INC.: 79.37 G GOLD/TON OVER 3.6 M INTERSECTION IN DDH #RG10-02 AT REGCOURT
Galahad Metals Inc. has received final assay results from its recent drilling campaign at Galahad's Regcourt gold property, 30 kilometres east of Val d'Or, Que. The drilling successfully intersected numerous sulphide-bearing, gold-mineralized quartz veins from 13 metres to 325 m below surface, corroborating that the mineralized-vein system continues below the historic Regcourt gold mine workings.
Selected highlights of the analytical results are listed in the table, and include:
- 79.37 grams per tonne Au over 3.6 m (hole RG10-02, from 142.0 to 145.6 m);
- 131.00 g/t Au over 0.9 m (hole RG10-03, from 288.0 to 288.9 m);
- 4.05 g/t Au over 4.0 m (hole RG10-04, from 168.0 to 172.0 m);
- 16.71 g/t Au over 1.5 m (hole RG10-08, from 106.8 to 108.3 m).
Robin Dow, chief executive officer, reports: "Spectacular! Seventy-nine point thirty-seven g/t gold over 3.6 m (2.5 ounces per ton gold over 12 feet) and 131 g/t gold over almost a metre (approximately four ounces per ton gold over three feet) are outstanding intersections that demonstrate the potential of the ground underlying our Regcourt property.
"These results are reminiscent of hugely profitable quartz-vein systems that were mined in the heydays of the Val d'Or and Timmins camps, as opposed to the recently targeted, very-low-grade, open-pit, Osisko-type deposits.
"The 4.05 g/t gold over four m in hole RG10-04 and 2.15 g/t gold over 3.9 m in RG10-05, indicate that significant grades are present over minable widths at Regcourt, while the 326 m deep intersection of 10.75 g/t gold over 0.3 m from hole RG 10-05 shows that the mineralization continues to the deepest extent drilled to date."
The nine-hole, phase I drill program produced notable gold-bearing intersections in six of nine holes. The diamond-drilling program was designed to target the projected downward extensions of veins and other planar mineralized structures, especially along their interpreted, linear intersection zones.
Galahad expects to receive Abitibi Geophysic Ltd.'s down-hole IP survey report, on all nine holes, before the end of January. Three-dimensional Gemcom modelling work will be used to assist in the interpretation of current positive results and establish a geological model and outline all distinct structural features found at Regcourt. Future drilling work will focus in areas where 3-D model indicates junction of structural features.
By integrating the results of the Abitibi report with known gold-bearing intersections, Galahad hoped to enhance its ability to pinpoint gold-bearing targets in advance of the next diamond drill program.
All new data from the project will be entered into the present 3-D Gemcom model, which will then be used to focus future drilling. Galahad hopes to commence phase II drilling before the end of first quarter.
A total of 513 core samples were collected from the recently completed drilling campaign, which consisted of nine holes, between 200 m and 350 m long, for a total of 2,342 metres. ALS Chemex Laboratories in Val d'Or, Que., carried out the analytical procedures.
SELECTED HIGHLIGHTS OF THE RESULTS FROM THE DECEMBER, 2010,
DIAMOND DRILLING PROGRAM
Au
Hole From To Interval (Au g/t)
RG10-02 142.0 143.0 1.0 5.17
143.0 143.5 0.5 52.30
143.5 144.6 1.1 57.20
144.6 145.6 1.0 0.50
210.0 210.5 0.5 2.88
216.0 217.0 1.0 3.42
163.5 164.0 0.5 2.58
164.0 165.0 1.0 0.64
RG10-03 225.0 226.0 1.0 9.21
226.0 227.2 1.2 0.22
288.0 288.9 0.9 82.80
295.8 297.0 1.2 2.39
237.4 238.4 1.0 0.57
RG10-04 168.00 169.0 1.0 1.92
169.00 170.0 1.0 1.03
170.00 171.0 1.0 11.70
171.00 172.0 1.0 1.17
RG10-05 13.6 14.2 0.6 1.51
14.2 14.9 0.7 0.15
14.9 15.8 0.9 0.69
15.8 16.3 0.5 0.08
16.3 17.5 1.2 6.08
326.5 326.8 0.3 10.75
RG10-06 285.9 286.2 0.3 17.75
288.8 289.5 0.7 14.45
289.5 290.5 1.0 0.56
RG10-08 106.8 107.8 1.0 0.11
107.8 108.3 0.5 49.90
181.3 182.2 0.9 1.38
196.0 197.0 1.0 4.16
Au Au-MS Au final Intersection
Hole (Au g/t) (Au g/t) (Au g/t) (Au g/t over m)
RG10-02 5.33 5.25 79.37/3.6
456.00 456.00
47.20 47.20
0.62 0.56
3.38 3.13 3.13/0.5
3.56 3.49 3.49/1.0
2.74 2.66 1.59/1.5
0.40 0.52
RG10-03 0.19 4.70 4.31/2.2
0.22
131.00 131.00 131.00/0.9
2.00 2.20 2.20/1.2
6.01 3.29 3.29/1.0
RG10-04 2.65 2.29 4.05/4.0
0.85 0.94
12.30 12.00
0.79 0.98
RG10-05 1.51 2.15/3.9
0.16 0.16
0.42 0.56
0.09 0.09
6.08
10.75 10.75/0.3
RG10-06 8.33 13.04 13.04/0.3
14.45 6.28/1.7
0.56
RG10-08 0.11 15.14/1.5
45.20 45.20
1.38 1.38/0.9
4.16 4.16/1.0
The current exploration program is being supervised by John Langton, MSc, PGeo, of MRB & Associates, who is the qualified person as defined by National Instrument 43-101 for the Regcourt project, and has approved the contents of this release.
QA/QC procedures
Galahad has implemented a quality control program to ensure best practices in sampling and analysis of the core samples. The core was logged and then split, with half the core sent for assay, and half retained for verification and reference purposes. Standards and blanks were inserted randomly into the sample stream. The samples were delivered, in security bags, directly to ALS-Chemex Laboratories Ltd. in Val d'Or, Que., for analysis. Samples were initially analyzed by conventional fire assaying. Pulps from samples that returned moderately anomalous values, or that were collected from intervals adjacent to anomalous zones, were reassayed by conventional fire assaying. For the reported intersections, total metallic-sieve check assays were completed on the remaining coarse crush reject for all samples reporting greater than 10 g/t gold from the initial fire assay. The final reported gold grade for a sample is the metallic-sieve result, when available; otherwise, it is the average of the two fire assays.
The accredited ALS-Chemex Laboratories Ltd. of Val d'Or, Que., is the only assay laboratory being used for lithogeochemical analyses. ALS Chemex has attained ISO 9001:2000 registration, which requires evidence of a quality management system covering all aspects of the assaying process. To ensure compliance with this system regular internal audits are undertaken by staff members specially trained in auditing techniques.
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