Galantas Gold (LON:GAL,CVE:GAL) said solid progress had been made in its latest quarter as it prepares the Omagh mine in Northern Ireland for development.
Production at site remains suspended but the firm was granted planning consent this summer for an underground mine, which will allow the continuation and expansion of gold mining.
Since then the firm has also discovered high grade gold on the boundary of the mine an last month and said it had been ‘excited’ by the results yielded by early exploration work on its licence areas.
The group's president and chief executive Roland Phelps, said: "Solid progress has been made this quarter in exploration and readying the mine for development.
"We have increased the workforce to 10 and will be adding extra personnel as the mine develops. Monitoring by NIEA and our independent samplers continue to demonstrate environmental compliance."
In keeping with a firm at this stage, the net loss for the three months to end September was C$409, 880. Revenue was C$37,262 duie to jewelry sales.
Shares in London were unchanged at 4.375p.