Galantas Gold Corp. (TSX: V.GAL, Stock Forum) announced the Core 147 drilling result, which hit over 2.8 metres of the Joshua Vein averaging 12.4 grams per tonne gold from its Omagh gold property in Northern Ireland.
The Joshua Vein, on the Omagh gold property in County Tyrone, is, so far, known to extend over 836 metres along strike. Core 147 was drilled on the Central Joshua Vein by an in-house crew and rig.
According to the Galantas Gold press release, Core 147 is the second deepest intersect yet drilled on Joshua Vein. The top of the mineraliszd intersect is estimated to be at a vertical depth of 137.2 metres and the hole was terminated at a down-hole length of 171.8 metres.
Core 147 is situated approximately 50 metres south of Core 103, which, as the deepest intersect so far, which found 8.4 grams per tonne gold over a true width of 4.5 metres at a vertical depth of 160.6 metres.
A follow up core has been commenced near to Core 147, which targets the vein at a shallower depth.
Galantas is a gold producer and explorer with a 100% interest in Ireland's only operating gold mine.
On Tuesday, Galantas soared 200% and was trading at $0.03 a share. The company had a market cap of $7.7 million, based on 256.2 million shares outstanding.