- Galantas Gold (GAL) announced results from the second underground hole in its ongoing 4,000-metre drilling program at the Omagh Project
- The company intersected 26.7 grams per tonne of gold, 88.2 grams per tonne of silver and 3.5 per cent lead over 2.9 metres
- It believes the result demonstrates further continuity to a zone of mineralization running parallel to the project’s main Kearney Vein
- The project is located in Northern Ireland
- Galantas Gold is down 1.28 per cent, trading at $0.38 at 10:27 am EST
Galantas Gold (GAL) announced results from the second underground hole in its ongoing 4,000-metre drilling program at the Omagh Project.
The project is located in Northern Ireland.
The Toronto-based exploration company intersected 26.7 grams per tonne of gold, 88.2 grams per tonne of silver and 3.5 per cent lead over 2.9 metres. That includes 79.5 grams per tonne of gold, 281.4 grams per tonne of silver, and 10.6 per cent lead over 0.9 metres.
The company believes the result demonstrates further continuity to a zone of mineralization running parallel to the main Kearney Vein on the project.
A second, deeper intersect, hit the main Kearney Vein within the inferred resource and returned 5.8 grams per tonne of gold, 14.2 grams per tonne of silver, and 0.2 per cent lead over 1.8 metres.
“The additional high-grade intercept in a parallel vein with continuity demonstrates the potential to discover additional high-grade mineralization at Omagh and expand the gold resources as the Company advances its plans to commence mining early in the new year. With the deposit remaining open on strike and to depth, Galantas’ Omagh Project provides the rare opportunity to significantly grow high-grade resources while producing gold,” said Galantas CEO Mario Stifano.
The company is continuing to advance its strategy of creating shareholder value by operating and expanding Northern Ireland’s first gold mine.
Galantas Gold is down 1.28 per cent, trading at $0.38 at 10:27 am EST.