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Galantas Gold Corp

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

Snapshot

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

mine

Quick facts: Galantas Gold Corp

Price: £0.04

Market: AIM
Market Cap: £12.14 m
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  • Galantas Gold Corporation is dual-listed on the TSX Venture Exchange and AIM

  • The miner owns an open-pit gold mine near Omagh, County Tyrone, Northern Ireland.

  • Work to develop an underground operation is underway

  • Exploration has commenced to boost resources at the mine

 

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.

 

What the boss says: Roland Phelps, chief executive

"Development continues on or better than target.

"I look forward to increases in concentrate output that are expected to be the result of the latest development.

"The potential for an expansion of the Omagh gold resource remains very high."

 

Video

 

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

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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