Galantas Gold (TSX-V & AIM: GAL; OTCQX: GALKF) is continuing its foray into Northern Ireland thanks to its Omagh Project, which has returned results from a hole drilled at the Kearney Vein development.
The company has been actively drilling at the project throughout the year and has just drilled a hole from an underground platform from the second level of the Kearney Vein development.
According to the company, this is the most northerly intersection from its latest drill program and provides vital information related to mineralization outside the main vein.
Notably, Galantas Gold said hole FR-DD-23-UG-193 intersected roughly 20 grams per tonne (g/t) of gold and 11.3 g/t silver over 1.7 metres.
“Our drill program continues to yield positive results, improving our understanding of the high-grade gold mineralization below the Omagh mine. We’re pleased with the outcome of this final underground hole at the main Kearney Vein as we transition our drill program from underground to surface to target the other main Joshua Vein and potentially add to the number of dilation zones previously delineated from historical drilling,” Mario Stifano, CEO of Galantas Gold, said in a statement.
Omagh project milestones
Earlier this month, Galantas Gold announced an updated NI 43-101 mineral resource estimate for the project, which includes 42 additional drill holes from the Kearney and Joshua vein systems. It also includes a complete review of previous vein wireframe interpretations.
Other highlights from the updated mineral resource estimate include:
- Gold ounces increasing by 77% since the 2014 PEA estimate
- Increased strike and depth continuity of modeled veins in the Kearney and Joshua systems
- Deposit remains open along strike and to depth down plunge
- Downdip drilling is planned on the Joshua Vein to fill in gaps in the resource model
Galantas Gold will also test for a potential resource extension down plunge to the north.
“The drill results from our most extensive exploration program since the 2014 resource estimate has increased our confidence in the high gold grades at the Omagh Project, further confirming its potential, particularly at the Joshua vein, which we are keen to explore,” Stifano said in a news release.
The Omagh project
Located within a 189 square kilometre license area, the Omagh Project is roughly a 1.5-hour drive west of Belfast, Northern Ireland.
A wholly owned subsidiary of Galantas Gold owns the freehold title to more than 220 acres of land, where the initial open-pit mine, processing plant, tailings facility and water clarification ponds are located.
The mine also has 3,000 metres of development and several production stopes opened to assess mineability. It is fully licensed by Northern Ireland and U.K. regulators.
Longhole drilling and blasting began in July 2022 to open the first series of stopes at the Kearney Vein, which also marked the beginning of the production process.
A sustainable mine plan is expected sometime in July, which will allow the company to continue development on the existing ore zones and to lower levels at the Kearney Vein, and also to access the Joshua Vein at the Omagh Mine.
According to the company, the mine plan intends to outline a staged production plan and estimate the initial production levels on the Kearney and Joshua Veins.
Galantas Gold in the news
In addition to its update on the Omagh Project, the company has been busy with its Gairloch Project in Scotland.
Galantas Gold reported an update in July, noting it had intercepted 17.9 metres at 2.87% copper, 0.77 grams per tonne of gold, 0.46% zinc and 0.03% cobalt.
These are the first set of results from the company for the Gairloch Project where four holes have been drilled over the main deposit area for a total of 190.4 metres. Two more holes are planned for August.
“This is a fantastic result for our first drill hole in Scotland demonstrating significant polymetallic grades. The discovery of new critical minerals is a major development for the project and we look forward to reporting further results as they become available,” Stifano said.
In conclusion
Galantas Gold is taking Northern Ireland and Scotland by storm thanks to its Omagh Project and the Gairloch Project.
As the company awaits a staged production plan at Omagh – and continues moving forward at the Gairloch Project – Galantas Gold is a unique investment opportunity exploring Northern Ireland and Scotland unlike any other.
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