- Galantas Gold (GAL) has provided an operational update for its Galantas Gold Mine in Omagh, Northern Ireland
- The company processed 6,262.5 tonnes for Q1 2021 including 258.5 troy ounces of gold within 87.3 tonnes of concentrate
- The company shipped 96.7 tonnes of concentrate for the quarter containing an estimated 304.6 troy ounces of gold
- The grade attributable to low grade stock for January and February 2021 is estimated at 1.8 g/t and 1.1 g/t gold, respectively
- The grade of the limited feed produced underground is estimated at 5.7 g/t gold
- Galantas Gold is involved in mining and exploration activities in Northern Ireland
- Galantas (GAL) is up by 16.67 per cent and is currently trading at C$0.35 per share
Galantas Gold (GAL) has provided an operational update for its Galantas Gold Mine in Omagh, Northern Ireland.
Underground blasting continues with mining on a single shift basis.
Development at the Kearney vein has produced a higher gold grade for the processing plant than the existing feed, which comes from low-grade stock.
The grade attributable to low-grade stock for January and February 2021 is estimated at 1.8 g/t and 1.1 g/t gold, respectively.
The grade of the limited feed produced underground is estimated at 5.7 g/t gold.
The company processed 6,262.5 tonnes for Q1 2021 including 258.5 troy ounces of gold within 87.3 tonnes of concentrate.
The company shipped 96.7 tonnes of concentrate for the quarter containing an estimated 304.6 troy ounces of gold.
Galantas received US$574,599.90 in cash under its concentrate off-take agreement. This sum includes residual payments due from previous out-of-quarter shipments.
The company is crediting cash received against development costs until ramp up to full production is complete.
An initial review of the company’s underground restart has demonstrated favourable results based upon provisional estimates.
Roland Phelps, President and CEO of Galantas Gold, commented,
“I am pleased with how the restart of mining operations has gone so far. 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.”
Galantas Gold is involved in mining and exploration activities. The company owns and operates a producing open-pit gold mine near Omagh, County Tyrone, Northern Ireland.
Galantas (GAL) is up by 16.67 per cent and is currently trading at C$0.35 per share as of 10:15 am ET.
