logo-loader
viewGalantas Gold Corp

Galantas Gold tracks Kearney vein down to fourth level at Omagh mine

Snapshot

  • Owns open-pit gold mine near Omagh, Northern Ireland.
  • Mine development work is underway
  • Exploration started to boost mine's resources
mine

Quick facts: Galantas Gold Corp

Price: 3.7 GBX

AIM:GAL
Market: AIM
Market Cap: £11.96 m
Follow

Development continues on or better than target ... the potential for an expansion of the Omagh gold resource remains very high.

Roland Phelps, chief executive

How is it doing

In July, Galantas reported it had hit the Kearney vein at the fourth level earlier than anticipated

Grades were 8.35 g/t gold over a width of 2.65m and the intersection is expected to allow in-vein development both north and south on the fourth (1060) level.

Concentrate sales worth US$460,000 are expected in the second quarter of the year.

On the third level, development continues southward said Galantas.

 

 

Watch video interview

 

 

Inflexion points

  • Has now hit Kearney vein on the fourth level
  • On third level, development work is showing 'racy grades'
  • Developing along the vein adding data
  • Work currently on the second, third and fourth level
  • Galantas has a production target of 30,000oz in concentrate a year
  • The processing plant uses a non-toxic flotation process
  • Miner worth £14.4mln at 4.8p

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Galantas Gold Corp named herein, including the promotion by the Company of Galantas Gold Corp in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Galantas Gold seeing 'racy' grades at Omagh as development work advances

Galantas Gold Corporation's (LON:GAL) roland Phelps tells Proactive London's Andrew Scott they've hit more strong gold indications from work at the Omagh mine in Northern Ireland. An access drive on the fourth (1060) level intersected the Kearney vein ahead of schedule.

on 22/7/19

2 min read