The Company has currently completed 2,000 metres of underground development at
The surface drilling program will target the Joshua vein. The Company will follow up on its best intersection to date of 21.6 metres of 9.9 grams per tonne (g/t) gold (13 metres true width) at a vertical depth of 117.2 metres (hole OML-DD-15-155), which was identified towards the end of the last drilling program in 2015, as announced
Galantas Gold Appoints Market Maker
The Company also announces that it has retained
ITG will trade the securities of Galantas on the TSX-V for the purposes of maintaining an orderly market. In consideration of the services provided by ITG, the Company will pay ITG a monthly cash fee of
Figure 1: Overview of the location of the main veins relative to other drill targets.
Figure 2: Historical significant vein intersects on the Joshua and
Information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of
Scientific or technical disclosures in this press release have been reviewed and approved by Dr.
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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 the new phase of underground mining, accelerated mine development and the results of exploration programs, 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 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 or strategy, including: gold price volatility; discrepancies between actual and estimated production, actual and estimated metallurgical recoveries and throughputs; mining operational risk, geological uncertainties; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration; dilution; competition; loss of or availability of key employees; additional funding requirements; uncertainties regarding planning and other permitting issues; and defective title to mineral claims or property. These factors and others that could affect Galantas’ 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.
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