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Galantas Gold continues “positive discussions” with police over Omagh mine blasting

“Until changes to the arrangements are formalised, the company will be unable to implement an increased blasting protocol,” Galantas said.

Galantas Gold continues “positive discussions” with PSNI for Omagh mine blasting

Galantas Gold Corp (LON:GAL) told investors that it is continuing “positive discussions” with the Police Service of Northern Ireland (PSNI) with a view to resume blasting operations at the Omagh gold mine.

Current blasting arrangements at the Northern Ireland mine require supervision by the PSNI and Galantas noted that the current arrangements are not sufficient for the company’s desired level of operations.

“Until changes to the arrangements are formalised, the company will be unable to implement an increased blasting protocol,” Galantas said.

“The company continues to be in positive discussions with the PSNI. The date when these matters will be concluded is not yet known.”

Galantas, in a move to cut costs, has reduced staff numbers to 21 from 46 – with the majority of the cuts taking place in November 2019.

It noted that some mine operations continue at the Omagh gold mine, on a single shift.

In Thursday’s stock market statement, Galantas reported that it produced 153.46 tonnes of concentrate and that a provisional estimate of gold content indicated some 497 ounces of gold were present though this remains subject to further testing.

Concentrate shipments in the period totalled 172.36 tonnes, and, a further 15.65 tonnes remained in stock.

Exploration campaign

Galantas noted that a probe drilling campaign had recently taken place at the Omagh mine, using existing retained personnel and equipment.

The results indicate zones of higher width of mineralisation and, according to Galantas, supports an implication that such zonal mineralisation may continue at depth, with enhanced exploration potential for targeting gold resources particularly to the north and within the company's license area.

Galantas noted that probe drilling doesn’t provide samples suitable for use in mineral resource estimates but is lower cost and can give strong indications where mineralisation is concentrated.

Quick facts: Galantas Gold Corp

Price: 1.05 GBX

AIM:GAL
Market: AIM
Market Cap: £3.39 m
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Full interview: Galantas Gold temporarily suspends blasting at Omagh mine

Galantas Gold Corporation's (LON:GAL) Roland Phelps tells Proactive London's Andrew Scott they've temporarily suspended blasting operations at their Omagh gold mine, Northern Ireland. Phelps says blasting operations are currently limited, since all blasting must be supervised by the Police...

on 29/10/19

2 min read