- Galantas Gold (AIM) updates its Omagh Gold Project
- The target update will incorporate 7,800 metres more of drilling
- Internal modelling has shown grades and widths of mineralization to increase within the dilation zones at the Kearney and Joshua veins
- Also included are development options for mining at the lower levels of the Kearney Vein
- There is a plan set out to drill more underground holes at Kerr from the crosscut development
- Galantas Gold (AIM) is up 1.37 per cent, trading at C$0.37 at 12:33 pm EST
Galantas Gold Corporation (AIM) provides updates on its Omagh Project in Northern Ireland for a MRE by the end of the second quarter.
The target update will incorporate 7,800 metres more of drilling, with many drill holes indicating higher gold grades and thicker widths in dilation zones.
According to the company, internal modelling has shown grades and widths of mineralization to increase within the dilation zones at the Kearney and Joshua veins.
Omagh Project
At the Kearney vein, drill hole FR-DD-22-UG-181 intersected seven metres of over 31 grams per tonne of gold. Adding to this was drill hole FR-DD-22-UG-186 drilled to a depth of 143 metres were it intersected 4.4 meters of almost 38 grams per tonne of gold.
Going forward, it is developing a sustainable mine plan by the end of Q2 2023 for optimal production.
The plan will figuer out what the longevity looks like for initially targetting 10,000 gold ounces yearly.
Also included are development options for mining at the lower levels of the Kearney Vein.
Just back in January, Galantas signed an agreement to acquire the Gairloch Project, a 217 km² mineral licence area in Scotland.
The company also secured rights to explore and develop the project that covers the Gairloch Schist Belt from the owners of the Gairloch Estate lands.
The company has also completed its first hole targeting the Kerr Vein from underground.
In the near future the company is planning to drill more underground holes at Kerr from the crosscut development.
As far as adding crew members and retaining them, this has proven to be an ongoing challenge. Currently, the company is only allowed to hire miners located in the UK and Ireland.
Going forward, Galantas will put together a new plan to develop the high-grade dilation zones at depth.
Galantas Gold (AIM) is up 1.37 per cent, trading at C$0.37 at 12:33 pm EST.
