Galahad Metals has reported the initial phase II drill program results from the Regcourt gold property.
The company has encountered gold-mineralized and sulphide-bearing quartz layers near the significant workings at the Regcourt gold mine.
The company has gathered 800 core samples totally from the 13-hole drill program, which includes 3226 m of drilling and contains 11 fresh hole and expansion of the holes RG10-02 and RG10-07. ALS Chemex lab has sent the assay results for seven holes. The results of the remaining six sampled holes are pending.
Galahad’s CEO has stated that the company is elated due to the occurrence of gold mineralization continuously in five out of the seven holes. The newly conducted down-hole IP survey has not found any mineralized gold in the targets. Abitibi Geophysics and MRB & Associates have been contracted to perform additional analysis at the targets and conduct complete hole rock analysis and to sample few segments again to guarantee complete testing.
The company has intersected 12.05 g/t gold over 0.4 m and 3.21 g/t gold over 0.5 m in the hole RG11-02, 4.20 g/t gold over 0.3 m in the hole RG11-05 and 10.50 g/t gold over 0.65 m, 14.60 g/t gold over 0.35 m in the hole RG11-06.
The plan of the drilling campaign is to examine the prospective of the underground IP anomalies that are found by a down-hole IP survey, to focus on the estimated expansions of identified mineralized quartz layers in the downward direction and to inspect the prospective of new structural characteristics, which were not examined formerly, found from recent geologic understandings.
The obtained phase II results help the present interpretation of a hydrothermal, shear-zone connected, Sigma-type, tourmaline-quartz gold-bearing stringer and vein system. Galahad has not intersected any considerable concentrations of gold in the country rock that houses the gold-bearing expansion and fault-fill layers.