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Galantas stringer vein shows grades of up to 11 grammes per tonne gold

Tunnelling work at Omagh has gone through some rich rock which Galantas will now send for processing

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Irish gold could command a premium value

Grab samples taken from a vein intersected during tunnelling work at the Omagh mine owned by Galantas Gold Corporation (LON:GAL) have returned values of between 1.1 grammes per tonne and 11 grammes gold.

Following recent fundraising efforts, Galantas is currently developing underground workings at Omagh in County Tyrone, Northern Ireland, with a view to returning to production in due course.

READ: Galantas gets cracking with underground development work

The new vein samples were taken 47 metres from the portal, and also intersected grades of between 1.4 grammes and 7 grammes silver.

Structural analysis, supported by the data in the tunnel intersect, indicates that a second intersection with a potential continuation of the stringer vein is likely, as the planned underground tunnelling turns from a westerly direction and continues northwards a further distance of 67 metres from the first intersect.

Arrangements are being put in place to exploit the stringer vein.

It’s expected that feed will go to the processing plant within 10 weeks, while the tunnel development continues to progress towards accessing the principal target, which are the main Kearney veins below.

Improved blasting arrangements have been formalised with Police Service Northern Ireland (PSNI). The improved arrangements are not expected to form an impediment to operations and are expected to accelerate development progress.

The processing plant has already been re-commissioned ready to accept feed.




Quick facts: Galantas Gold Corp

Price: 19.75 GBX

Market: AIM
Market Cap: £6.94 m

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