Galantas Gold Corp (AIM:GAL, TSX-V:GAL, OTCQX:GALKF) has announced that mining contractor QME Mining Services (NI) Ltd. Ireland has completed its due diligence process at the company's Omagh Gold Project in Northern Ireland, as part of its sustainable mine plan.
The mine plan, expected to be finalised in July 2023, aims to enable Galantas to further develop and mine the ore zones down to the existing lower levels of the Omagh Mine. The plan will focus on optimizing production from the dilation zones, which have the potential for higher grades and thicker widths of mineralisation. It will outline a staged production plan, starting with initial production levels and followed by expansions over time.
This approach is seen as a cost-effective way to reduce production risks while the company continues its exploration and expansion efforts at Omagh. The mine plan will involve mining both the Joshua and Kearney veins, utilizing QME's skilled workforce and advanced original equipment manufacturer (OEM) mining equipment.
In a statement, Galantas CEO, Mario Stifano, expressed excitement about QME's involvement in the mine plan, commenting: "We are thrilled that QME is progressing our mine plan. QME's extensive mining experience across Europe, including its notable involvement in the development and bulk sampling of Dalradian's nearby gold project located just 20 km away from Omagh, positions them as an ideal partner for this endeavor."
Stifano further noted QME's commitment to the success of the Omagh Project, exemplified by their significant shareholding in Galantas. He stated that further details about the mine strategy would be provided next month.
QME, founded in 1985, is a reputable mining services provider engaged in mine development and the supply of new and re-manufactured equipment for underground and open pit operations. The company has mining contracts in Ireland and Portugal and has previously worked on mining projects in the Republic of Ireland, Northern Ireland, and Scotland. Notable clients include Tara Mines, Dalradian Gold, Lundin Mining, and Barrick Gold.
Galantas Gold's strategy focuses on creating shareholder value through gold production and resource expansion at the Omagh Project in Northern Ireland, as well as exploring the Gairloch Project, which hosts the Kerry Road gold-bearing VMS deposit in Scotland.