Galantas Gold Corp (AIM:GAL, TSX-V:GAL, OTC:GALKF, FRA:G2V2) said it will imminently start an initial Phase 1 surface and underground exploration programme, comprising of 4,000 metres of diamond drilling, at the Omagh gold mine in Northern Ireland.
Drilling will focus on the Kearney and Joshua veins. The drill results will support the mine plan as the company moves into a new phase of underground mining and accelerated development.
Underground drilling on the Kearney vein will test deeper extensions of mineralized dilation zones targeting higher widths of mineralization within the vein. Drilling will also target continuity and grade of additional mineralized zones running parallel to the main orebody.
The surface drilling programme on the Joshua vein will follow up on its best intersection to date of 21.6 metres of 9.9 grammes per tonne (g/t) gold at a depth of 117.2 metres, announced in January 2016. Drilling will also target a central area of the vein 70 metres from where the underground development is first planned to intersect the Joshua vein.
"We are excited to kick-off drilling to unlock the significant exploration upside at Omagh, on the heels of our oversubscribed private placement,” said chief executive Mario Stifano.
“This exploration program represents a critical opportunity for Galantas to extend the mine life and expand high-grade gold production."
Galantas Gold also announced it had retained Independent Trading Group to provide market making services in accordance with TSX Venture Exchange policies. ITG will trade the securities of Galantas on the TSX-V for the purposes of maintaining an orderly market, it said.