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Galantas Gold Corp (2)
Symbol C : GAL
Shares Issued 299,686,805
Close 2019-02-11 C$ 0.09
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Galantas develops 2nd level of Kearney vein at Omagh

2019-02-11 06:28 ET - News Release

Mr. Roland Phelps reports


Galantas Gold Corp. has made continued development progress at its Omagh gold mine, Northern Ireland, with the second level now intersecting the Kearney vein.

Initial on-vein development on the 1096 (first and upper) level has partially delineated the crown pillar (a pillar temporarily left in place to separate the underground mine from the former open pit). The main decline development tunnel has progressed and has reached 52 metres past a 50-metre-long access branch on the 1084 (second) level, driven east from the main (north-south) decline tunnel to its junction with the Kearney vein, north of the planned mining area. A southward on-vein development, on the Kearney vein, on the 1084 level, to access beneath the first mining area, has commenced. The interval between the levels is planned to be mined by a long-hole method, using cemented rock and tailings as backfill support.

Of note, drill core OM-DD-06-14 intersected strong gold mineralization about seven metres to the south of the junction of the 1084 access and the Kearney vein. This core returned an intersection of grade 10.3 grams per tonne gold over a downhole length of three metres. This included one metre at 27.42 g/t gold, 170.84 g/t silver and 6.52 per cent lead (reported Jan. 30, 2007). The exposure in the on-vein development is visually well mineralized across an approximate two-metre true width.

The main decline development continues toward the 1072 level to enable the mining of the next production sequence. An additional 43 metres remain to be excavated on the decline to reach the 1072 level, before making a 58-metre vein access drive. On-vein drivage on the 1072 level, which is the third level in the vertical sequence, is planned to provide future mining access.

An access tunnel westward from the decline tunnel, toward the Joshua vein has been continued and currently has been driven a total of 56 metres out of an anticipated 344 metres. A second means of egress that is required as an escapeway and to form a ventilation circuit, has been completed. Arrangements are being put in place to install the mine main ventilation fans which have already been delivered to site.

Safety remains a high priority and the mine continues to record zero lost-time accidents since the start of underground development, which has now exceeded 900 metres of tunnel length. A simplified plan of the workings is available on the Galantas website.

Final postclosing acceptances have been received from the TSX Venture Exchange in regard to the company's private placement completed on Dec. 21, 2018.

Roland Phelps, president and chief executive officer, Galantas Gold, said: "Current production is sourced from the mining of on-vein drives, which have to be developed before stoping panels are mined. I am pleased that development progress has accelerated significantly with the continued investment in training, operator experience and equipment and that the excellent safety record is being maintained."

Qualified person

This disclosure has been reviewed by Roland Phelps, CEng, MIMMM (president and chief executive officer, Galantas Gold), a qualified person under the meaning of National Instrument 43-101 and AIM (Alternative Investment Market) rules. The information is based upon local development data prepared by management under his supervision. The distances quoted are approximate measurements as of Jan. 29, 2019, and the plan drawing is dated Jan. 27, 2019.

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