Galantas Gold drills 1.87 g/t gold over 34.25 metres at Gairloch, Scotland
Galantas Gold Corp. [TSXV-GAL; OTCQX-GALKF] reported results of the fifth exploration drill hole at the Gairloch project in Scotland.
Highlights: Hole 23-GL-05 intersected 1.87 g/t gold (Au), 1.17% copper (Cu), 1.20% zinc (Zn), 131 g/t cobalt (Co) and 7.06 g/t silver (Ag) over 34.25 metres with new mineralization identified a further 100 metres at depth.
Recent and historical drilling have identified a mineralized trend with a strike of over one km and to a depth of 250 metres.
Mario Stifano, CEO, commented: “Our first drill program at the Gairloch Project continues to exceed management’s expectations, as the results from this fifth hole has further solidified the high-grade copper-gold potential while extending known mineralization to depth. Mineralization has been drilled over an area 1 km in strike, up to 150 metres wide and to a depth of 250 metres, and remains open. The company plans to conduct modern geophysics over the 10 km-long known mineralized belt to prioritize drilling targets for a planned new drilling program.”
Drill hole 23-GL-05 was a vertical hole drilled 22 metres east of hole 23-GL-04, intersecting the mineralized unit at 10 metres down to 44.25 metres. This hole targeted a geophysical anomaly and also acted as a stratigraphic hole. Previously unknown zones of mineralization were identified for a further 100 metres below the main mineralized zone down to a depth of 144 metres.
This drilling program was localized within 100 metres of where the mineralized unit is exposed at surface. Historical drilling identified a 1 km-long mineralized trend which the Company will aim to explore and expand in the coming year. The deepest intersection to date has been in historical hole GBH82 collared 620 metres to the southeast of the current hole, which intersected 5 metres at 1.07 g/t Au and 1.75% Cu at 250 metres depth.
Gairloch Project overview: The Kerry Road deposit is a stratabound, Besshi-style, VMS gold-copper-zinc deposit exposed at surface. It is one of the oldest known Besshi deposits, similar in age to the Sherridon district in Manitoba, Canada.
The Kerry Road deposit was discovered by Consolidated Goldfields in the 1970s where 87 holes were drilled over 9,189 metres. No commercial exploration has taken place since then until 2018 when drilling by GreenOre Gold PLC confirmed the presence of mineralization at Kerry Road by intersecting 1.0 g/t gold, 0.9% copper and 0.6% zinc over 17 metres. Rock chip sampling conducted by GreenOre in 2018 also identified elevated levels of cobalt in the bedrock.
The British Geological Survey (BGS) identified an outcrop of 4 g/t Au in their MRP146 report of the area, associated with a significant geophysical anomaly approximately 10 km south of the Kerry Road deposit, yet the area remains untested. This area is one of multiple targets identified by Galantas for follow-up exploration.
Galantas has acquired a 100% interest and the exclusive rights to explore and develop the Gairloch Project, a 217 km2 mineral licence area covering the Gairloch Schist Belt.
Drill hole 23-GL-05 was positioned 22 metres east of hole 23-GL-04 and drilled at -90 degrees dip in NQ core size. Core samples were split in half in mainly metre-long samples, inserting regular blanks, standards and duplicates for QA/QC purposes. Analysis was conducted by ALS Laboratories in Loughrea, Ireland.