Galantas Gold Corp (AIM:GAL, TSX-V:GAL, OTCQX:GALKF) said it has appointed Micon International Limited to produce a NI 43-101-compliant resource estimate for the company's Omagh gold project in Northern Ireland.
"Galantas has completed more than 4,100 metres of drilling during the last year, in our largest exploration program since the 2014 resource estimate,” said Mario Stifano, chief executive of Galantas in a statement.
“We have accumulated a substantial amount of data, including a number of new intercepts in the inferred resource, and chip channel sampling from five levels of underground development, in addition to the discovery of dilation zones - a pattern of vein swelling and grade increases - identified at both Kearney and Joshua veins. Our deeper understanding of dilation zones and structural controls enables us to now target drilling at the Kerr Vein system, located between the main Kearney and Joshua veins, to test its potential on the northern extension," he added.
The company said it expects a proportion of the 2014 resources to be upgraded, and for gaps in the resource to be filled in.
“We are also excited for the dilation zones to be remodelled into the resource, and look forward to providing the new mineral resource estimate by the second quarter of 2023," noted Stifano.
Among the highlights of the 2021 and 2022 drilling that will be incorporated in the upcoming estimate are intersections of 31.7 grams per tonne gold and 58.5 grams silver over seven metres at the Kearney Vein.
Other high-grade intercepts were also encountered at Kearney, and at the Joshua Vein.
Micon is an independent firm of mining industry consultants headquartered in Toronto, with offices in Vancouver and the United Kingdom.