The database used in the 2013 resource estimate contains results from 299 surface diamond drill holes and 540 channels. Sampling methodology, security & verification followed standard procedures previously detailed on April 5th 2006 and the samples were analysed (gold by fire assay with atomic absorption finish and other metals by ICP-ORE) at OMAC Laboratory Ltd (now ALS Minerals Division), an independent, ISO 17025 laboratory, of Galway, Ireland. The core drilling methodology was that as described on 15th September 2011.
The Company intends to file a complete Technical Report on SEDAR within 45 days of this release, as required by NI 43-101.
Roland Phelps, President & CEO, Galantas Gold Corporation commented, "The 2013 Resource Estimate is an important milestone in the development of an underground gold mine on our Omagh site. A revised economic study can now be initiated and loan finance discussions will continue when that is complete. Planning permits continue to progress, with final additional information now being prepared for consultation."
Roland Phelps, B.Sc., C.Eng, MIMMM, President & CEO, Galantas Gold Corporation is the Qualified Person (QP) for the NI.43-101 Report on the Resource Estimate of the Omagh Gold Deposit (2013). Data collection procedures and the preparation of the resource estimate has been carried out under his supervision and he has reviewed and approved the contents of this press release. The QP is not independent of the Company. The financial component of this disclosure has been reviewed by Leo O' Shaughnessy (Chief Financial Officer, Galantas Gold Corporation) and is based upon local financial data prepared under his supervision.
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 drilling intersections and analyses, 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 geological interpretation, 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, including: gold price volatility; discrepancies between actual and estimated production, actual and estimated metal grades and geologically interpreted widths, actual and estimated metallurgical recoveries; actual and estimated costs; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration; dilution; competition; loss of key employees; additional funding requirements; 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.
Galantas Gold Corporation Issued and Outstanding Shares total 256,210,395.
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.
Galantas Gold Corporation
Jack Gunter P.Eng
+44 (0) 2882 241100
Galantas Gold Corporation
Roland Phelps C.Eng
President & CEO
+44 (0) 2882 241100
Investor Relations :
Courtenay Heading (Maclir Consulting Ltd)
(UK) +44 (0) 7624 424 455
Charles Stanley Securities (Nominated Adviser)
+44 (0)20 7149 6000
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