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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Galahad Metals | TSXV:GAX | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
Hot Features
Premium
Galahad Metals Inc. (or "Galahad")(TSX VENTURE:GAX) is pleased to present assay
results from its recently completed Phase II drilling campaign at the Regcourt
gold Property, 30 km east of Val d'Or, QC. The drilling successfully intersected
targeted sulphide-bearing, gold-mineralized quartz veins in close proximity to
the historic Regcourt Gold Mine workings.
A total of 854 core samples were collected from the recently completed 13-hole
drilling campaign, which totalled 3226 metres and comprised eleven new
diamond-drill holes and extensions to two Phase I holes (RG10-02 and RG10-07).
ALS Chemex Laboratories in Val-d'Or, QC, carried out the analytical procedures.
Robin Dow, CEO reports: "Two phases of the drill programme have produced notable
gold bearing intersections in 17 of 22 holes, and now have intersected these
zones almost 100 m below the historic shaft. What is critical is that each hole
is hitting a target defined by the geologists on the programme. This is very
unusual in a narrow vein system, so it is quite a positive note on the
programmes and a credit to the geologists involved. Further Gemcom modelling of
the results is underway, with a third drill programme anticipated for early Q1,
2012."
The results received to date from the Phase II programme support the geological
model of a Sigma-type, hydrothermal, shear-zone associated, gold-bearing
quartz-tourmaline vein system for the Regcourt Project.
Selected highlights of the analytical results are listed in Table 1, and include:
-- 39.50 g Au/t over 1.20 m (Hole RG11-08, from 40.90-42.10 m);
-- 6.33 g Au/t over 0.65 m (Hole RG10-07 ext, from 303.00-304.00 m), and;
-- 10.50 g Au/t over 0.65 m (Hole RG11-06, from 49.8-50.45 m);
-- 14.60 g Au/t over 0.35 m (Hole RG11-06, from 55.65-56.0 m);
-- 4.20 g Au/t over 0.3 m (Hole RG11-05, from 108.9-109.2 m);
-- 3.21 g Au/t over 0.5 m (Hole RG11-02, from 197.80-197.30m)
-- 12.05 g Au/t over 0.4 m (Hole RG11-02, from 241.85-242.25m)
-- 4.85 g Au/t over 1.00 m (Hole RG10-02 ext, from 303.00-304.00 m);
-- 14.45 g Au/t over 0.50 m (Hole RG10-07 ext, from 303.00-304.00 m).
Table 1: Highlighted results from the 2011 diamond-drilling programme(i)
--------------------------------------------------------------------------
Hole Orientation Length From To Intersection
Hole (True) of hole (m) (m) (Au-gpt)
Azimuth Dip (m)
--------------------------------------------------------------------------
200 -52
RG11-02 degrees degrees 300 197.80 201.45 0.86 over 3.65 m
including 197.80 198.30 3.21 over 0.50 m
241.85 242.25 12.05 over 0.40 m
--------------------------------------------------------------------------
200 -60
RG11-03 degrees degrees 389 227.00 228.50 1.44 over 1.50 m
233.80 242.00 0.74 over 8.20 m
--------------------------------------------------------------------------
200 -54
RG11-05 degrees degrees 324 79.70 80.00 2.42 over 0.30 m
108.00 109.20 2.31 over 1.20 m
117.00 118.00 0.94 over 1.00 m
268.50 270.00 2.23 over 1.50 m
--------------------------------------------------------------------------
020 -60
RG11-06 degrees degrees 279 48.00 50.45 3.08 over 2.45 m
including 49.80 50.45 10.50 over 0.65 m
55.65 56.00 14.66 over 0.35 m
195.75 196.40 1.49 over 0.65 m
--------------------------------------------------------------------------
020 -60
RG11-07 degrees degrees 270 157.80 158.15 1.40 over 0.35 m
--------------------------------------------------------------------------
020 -45
RG11-08 degrees degrees 177 40.90 42.10 39.5 over 1.20 m
--------------------------------------------------------------------------
020 -50
RG11-09 degrees degrees 201 35.00 41.00 0.73 over 6.00 m
--------------------------------------------------------------------------
200 -60
RG10-02 degrees degrees 249 281.10 282.40 0.98 over 1.30 m
(extension) to
424 287.50 299.00 0.41 over 11.5 m
including 297.50 299.00 1.63 over 1.50 m
303.00 304.00 4.85 over 1.00 m
--------------------------------------------------------------------------
020 -55
RG10-07 degrees degrees 273 376.45 376.8 6.33 over 0.65 m
(extension) to
443 386.00 386.45 14.45 over 0.50 m
415.00 418.00 0.83 over 3.00 m
--------------------------------------------------------------------------
(i)All holes are inclined, therefore "From" and "To" distances tabulated
are metres down-hole, not vertical metres. Furthermore, calculated
intersection "Intervals" are down-hole lengths and not true widths. All
assays are reported uncut.
The diamond-drilling program was designed to: 1) target the projected downward
extensions of known mineralized quartz veins; 2) investigate the potential of
previously untested structural features recognized from new geologic
interpretations, and; 3) test the potential of underground IP anomalies detected
by a down-hole IP survey, carried out in December 2010.
Results of the 2011 exploration programme to date show that: 1) significant
gold-mineralization has been intersected to a depth of 260 m (holes RG10-05 and
RG10-06), nearly 100 m below the historic Regcourt Mine underground workings; 2)
the down-dip extension of an inferred shear-structure, interpreted from the 3-D
Gemcom(R) model was intersected by hole RG11-03 and encountered gold
mineralization at 180 and 260 vertical metres, and; 3) in order to gain a better
understanding of the weak correlation between gold mineralization and the IP
anomalies identified by the December 2010 down-hole IP survey, a systematic
re-sampling of core intervals that transect the IP anomalies is underway (see
Table 2). These samples will be assayed for their gold and whole-rock contents
in order to determine the source of the chargeability and resistivity IP
responses.
Table 2: Re-sampled intervals of 2010 and 2011 drill holes that transect IP
anomalies defined by the December 2010 down-hole 3-D IP survey.
----------------------------------------------------------------------------
IP
Hole Orientation Length of IP From To Intersection
Hole (True) hole Anomaly (m) (m) (m)
Azimuth Dip (m)
----------------------------------------------------------------------------
020 -55
RG-10-07 degrees degrees 424 C-5 210.00 250.00 40.00
200 -80
RG-11-01 degrees degrees 288 C-12 90.00 122.00 32.00
200 -60
RG-11-03 degrees degrees 389 C-13 136.00 150.00 14.00
200 -60
RG-11-04 degrees degrees 300 C-11 213.00 244.80 31.80
200 -54
RG-11-05 degrees degrees 324 C-6 15.00 44.30 29.30
020 -60
RG-11-06 degrees degrees 279 C-9 232.00 246.00 14.00
020 -45
RG-11-08 degrees degrees 177 C-2 100.00 120.00 20.00
The current exploration program is being supervised by John Langton M.Sc., P.
Geo, of MRB & Associates, who is the Qualified Person as defined by National
Instrument 43-101 for the Regcourt Project, and has approved the contents of
this release.
QA/QC Procedures
Galahad's procedures for handling and sampling core have been presented in
previous News Releases (see, for example, Galahad News Release dated September
14, 2011). The accredited ALS-Chemex Laboratories Ltd. of Val-d'Or, Quebec is
the only assay laboratory being used for lithogeochemical analyses for this
Project. ALS Chemex has attained ISO 9001:2000 registration, which requires
evidence of a quality management system covering all aspects of the assaying
process. To ensure compliance with this system regular internal audits are
undertaken by staff members specially trained in auditing techniques.
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