Galantas Gold Corporation announced the results of a recent gradient array induced polarization (IP) and resistivity geophysical survey five kilometres west of the Cavanacaw Gold Mine at the Omagh Project in County Tyrone, Northern Ireland. The Company have recently received full planning permission to drill eight boreholes from three locations within the mine site. The holes will target a southern portion of the main Joshua Vein.

The effectiveness of the IP method for defining mineralization targets in this terrain was tested by the Company in 2021 when it ran a similar survey over the Elkins Vein. An apparent resistivity IP anomaly aligned north-south coinciding with known mineralization. Another IP survey was completed over the Pigeon Top target (1.5 kilometres west of the mine site) in 2021, and also identified a strong north-south trending resistor over 500 metres, coinciding with base-of-till gold anomalies.

The Elkins, Pigeon Top and Cornavarrow targets are shown in Figure 1 and are situated along a six-kilometre strike. According to Consulting Geophysicist Graham Reid of BRG Ltd., the geophysical anomalies identified during those earlier surveys most likely represent fault structures in the bedrock. North trending faults are a prime exploration target as these are the structures that host mineralization on the mine site.

In January 2024, Galantas commissioned an IP survey grid over a 1.4-square-kilometre area at the Cornavarrow target. Cornavarrow lies five kilometres west of the Cavanacaw Gold Mine. The area was explored by RioFinex in the late 1980s.

Gold and base metal anomalies were recorded for float rock and stream sediments at that time; significantly, a small vein exposure was also identified ?Cornavarrow Burn East Showing?. A 2003 technical report by ACA Howe contained an intersection grading 1.15 grams per tonne (g/t) gold, 4.2 g/t silver and 1,366 g/t lead over 1.5 metres in width across the portion of visible vein and stated that ?what is visible at Cornavarrow Burn East Showing could be the edge of higher-grade mineralization which is not exposed.? Subsequent exploration by Galantas geologists recorded 3.5 g/t gold for a chipped sample of outcrop.

The eastern margin of the 900-metre northerly trending resistor lies 100 metres west of the in-situ vein mineralization. BRG Ltd. theorized that the Cornavarrow resistor may represent a zone of increased silicification within the mapped psammites. Galantas geologists have noted silicification associated with gold-bearing quartz veins at Cavanacaw.

The target area sits largely within the ?Cavanacaw Member?, a competent lithology just north of a thrust fault. The structural setting is therefore similar to that at the mine site. No diamond drilling has been conducted in the area to date.