logo-loader

Galantas Gold reports favourable results from restarted underground development

Published: 08:04 16 Apr 2021 BST

Galantas Gold Corp - Galantas Gold reports favourable results from restarted underground development

Galantas Gold Corp (LON:GAL) has highlighted favourable results from the restart of underground development at its mining operation in Northern Ireland.

The company resumed underground blasting in March and, as expected, the development of the Kearney vein has produced a feed of higher gold grade ore for processing.

Interim production, during the blasting hiatus, was fed by lower grade material which in January and February measured 1.8 grams per tonne (g/t) gold and 1.1 g/t respectively.

Feed into the processing plant from blasting was marked at 5.7 g/t and it has initially been supplementing the lower grade material.

READ: Galantas Gold resumes blasting at Omagh mine

In a first-quarter production report, the company said total tonnage for the quarter is estimated at 6,262.5 tonnes, for some 258.5 troy ounces of gold contained within around 87.3 tonnes of concentrate.

The company said it shipped some 96.7 tonnes of concentrate representing 304.6 ounces of gold.

It received US$574,599 of cash for the first quarter including residual payments due from previous out-of-quarter shipments.

"I am pleased with how the re-start of mining operations has gone so far,” said Roland Phelps, Galantas chief executive.

“When underground feed is processed in the mill the expected increase in concentrate production is demonstrated.

“The company is actively working with third parties to finance an expansion of the business going forward."

Accesso's landmark deal with SEVEN marks strategic growth in the Saudi Market

Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) chief executive Steve Brown joins Proactive's Stephen Gunnion with details of a significant partnership with Saudi Entertainment Ventures (SEVEN). Brown noted the collaboration highlights accesso's strategy to grow its global footprint,...

8 minutes ago