Galahad Metals Inc. is a Canadian based mineral exploration company active in the search for precious metal deposits. The Company's objective is to increase the value of the company to its shareholders by employing an active property acquisition process and well-managed and targeted exploration programs.
Galahad currently has four major gold exploration projects: Kellyn Ontario; Montrose, Ontario; Regcourt, Quebec and Bottle Creek, Nevada. All properties are in the best geopolitical jurisdictions in the world for mining, and boast ease of access, allowing lower logistics costs and a greater proportion of exploration dollars to be spent on exploration.
KELLYN: High Grade Gold, Silver, and enriched Rare Earth Metals
- The highly prospective Kellyn property is comprised of several gold vein systems that occur along the contact between ultramafic rocks and a granitoid body
- Initial sampling by Galahad geologists of a newly discovered gold occurrence by prospectors assayed 26.8 g/t (0.84 oz/tonne) gold and 100 g/t silver
- Line Cutting, prospecting and sampling of the mineralized contact in 2009 led to discovery of five distinct zones of interest, two of which, the Creek showing and the Jon’s showing are drill ready
- Sampling of various rock types confirmed an enrichment in rare earth elements. Eight samples from one stripped area ranged from 0.23 to 1.92% total REE, three were in excess of 1%. Further sampling is needed to determine the geological significance of these very interesting results.
MONTROSE MINING LEASE: Gold
- Recent discovery of several new zones of mineralised quartz veining and untested IP targets illustrates that the potential for further gold discoveries in the area has not been fully tested.
- At the Young Davidson Mine (20km North), Northgate Minerals recently increased resources at its Young-Davidson Project; Resources from 1.6 million ounces to 3.0 million ounces of gold at an average grade of 3.62 grams per tonne (g/t) using a cutoff grade of 2.3 g/t.
- Golden Harp's MC Zone (40km SW) demonstrates high grade potential as a recent drill hole (GH-019) returned 14.29 g/t gold over 2 Meters.
- The Company completed a soil geochemical sampling survey in late 2008 followed by an I.P geophysical survey over the whole property in 2009; drilling of 8 drill holes is recommended
- A diamond drill program has been planned to start as soon as targets have been identified.
Map showing Montrose Lease with Geochem, Geophysics and Drilling
REGCOURT CLAIMS: Gold in theAbitibi Greenstone Belt, Quebec
- Regcourt is a newly optioned gold project located east of Val d’Or in Vauquelin Township. The Company can earn a 100% interest in the claims.
- A non NI 43-101 historical resource of 61,000 tonnes grading 5.49 g/t gold (1983), hosted by a granodiorite stock, lies within the property
- Geologically the mineralization is described in the historical records as fracture-filled quartz-toumaline veins similar to other Quebec gold deposits
- The Company is evaluating all past records for this deposit which will guide further work programs.
BOTTLE CREEK: Nevada Gold
- The Company funded over $4 million in exploration on the property since May 2005. This work is ongoing and has included mapping, geochemical sampling, and geophysics with drilling, and an increase in project size to 150 sq km.
- 5 initial holes drilled in the summer 2006 intersected anomalous gold and silver; additional diamond drilling is planned based on defined geochemical and geophysical targets.
- Results from soil geochemical assays (January 2008) show both strong gold and molybdenum anomalies with the gold anomalies in a north south orientation across 1.4km.
- Targets include epithermal type gold. Property shares structural and lithological characteristics to producing and past producing mines in Northern Nevada. (Mule Canyon, 1.43M oz gold, Sleeper Mine 1.8M oz gold, 30km SE)/
- Currently in negotiations with several potential joint venture partners, seeking additional funding.
