IRELAND – Toronto-based Galantas Gold Corp
. says it plans to begin underground development and re-start concentrate shipments from its Omagh gold project in Northern Ireland.
Galantas anticipates that a phased start-up will deliver early positive cash flow for a modest capital investment. The mill is currently being refurbished in anticipation of the concentrate shipments beginning in Q1 2017. The most recent resource numbers, assembled in 2014, include 138,241 measured tonnes grading 7.24 g/t Au and containing 32,202 oz of gold. The indicated resource is 679,992 at 6.78 g/t and containing 147,784 oz. Lastly, the inferred resources is 1.37 million tonnes grading 7.71 g/t Au and containing 341,123 oz of gold.
The company has been granted planning consent for the project and has been carrying out pre-conditions attached to the consent, although a judicial review is scheduled for February 2017.
More details about the Omagh mine are posted at www.Galantas.com