Galantas Gold Corporation (TSXV/AIM: GAL) says that new geophysical surveys near the Cavanacaw Gold Mine at the Omagh Project in County Tyrone, Northern Ireland, indicate the potential presence of gold-bearing structures.
The company recently carried out induced polarisation (IP) gradient array surveys close to the Cavanacaw Gold Mine. The company’s intention was to determine the value of the gradient array method not previously tried in this area. Two one-square-kilometre test grids covered targets that were previously identified by other methods.
The East Grid incorporated the Elkins Vein about 500m east of the main Kearney Vein. It was last drilled in 2006-7 with shallow downhole intersections grading up to 16.4 grams per tonne (g/t) gold (Au) over 0.6 metres, 11.3 g/t Au over 1.7m, and 4.1 g/t Au over 3.3m.
The Elkins Vein has been explored over a strike length of 250m. An apparent resistivity IP anomaly aligned north-south coincides with the previously known portion of the Elkins Vein. The resistivity anomaly suggests continuity of the Elkins structure to the south. A further resistivity high, approximately 300m to the east, also aligns with historically recorded base-of-till gold.
The West Grid covers a historical gold anomaly cluster at Pigeon Top approximately 1,500m west of the Joshua Vein. Records of historic Pionjar drilling to base-of-till from the show that the original licence holders recovered samples at rock-head with values up to 13.5 g/t gold. High values of residual resistivity, oriented north-south over approximately 500m, coincide with these base-of-till gold anomalies. No diamond drilling has been conducted at Pigeon Top to date.
CEO Mario Stifano said that according to Consulting Geophysicist Graham Reid of BRG Ltd, the anomalies most likely represent fault structures in the bedrock. There is no evidence that they are caused by variation in the overburden. The local and regional bedrock stratigraphy is oriented east-north-east at a high angle to the anomalies. In contrast, the known Cavanacaw vein systems all have a northerly orientation within 20 degrees of each other. Technical literature on other occurrences indicate that high resistivity can be caused by pore water and strong wall-rock alteration, both of which are observed underground in the wall rocks of the Joshua and Kearney veins. It is therefore most likely that high residual resistivity anomalies represent fault zones which potentially host the gold veins at Cavanacaw.
“We are encouraged by these early findings as part of our ongoing exploration efforts. It is the first time ground geophysical surveys were conducted on the property since the 1980s when Rio Tinto explored the area,” Mr Stifano said.
“These results, combined with high-grade gold samples at the target areas, provide us with new drilling targets and demonstrate that induced polarisation surveys offer an effective exploration tool in this part of the Tyrone Gold District.
“The results strengthen our belief in the prospectivity of our 549-square-kilometre district-scale exploration licence to build on our high-grade gold resources at Cavanacaw.”
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