Galantas Gold jumps after hitting main vein at Irish mine expansion

Galantas Gold jumps after hitting main vein at Irish mine expansion

Shares in Galantas Gold (TSX, LON:GAL) climbed on Monday in London after the company announced it has reached the main gold vein in development works underground at its Omagh gold mine in Northern Ireland. Galantas Gold Corporation is pleased to report the underground development at the Omagh gold-mine, Northern Ireland, has reached the main Kearney gold vein. The stock jumped 12.5%, trading at 6.75p. 

 

Galantas’ Omagh is Northern Ireland’s only producing gold mine. The firm, which kicked off the mine’s expansion last year after the open-pit site was exhausted, has said it expects to produce about 8,000 ounces next year. The decline tunnel is planned to be extended in depth, along with construction of a second means of egress (safety escapeway). Environmental monitoring continues to demonstrate compliance with the standards imposed by the regulatory authorities. Safety is a high priority and the zero lost time accident rate, since the start of underground operations, continues.

 

Source:

http://www.mining.com/galantas-gold-jumps-hitting-main-vein-irish-mine-expansion/

http://www.galantas.com/news/galantas-underground-development-reaches-kearney-vein-and-commences-mining-mill-feed/

Please rate

Comments 

Name
Email
  Ctrl + Enter

Most Read

Network Rail carries out £31m Easter rail upgrades across network

Network Rail carries out £31m Easter rail upgrades across network

A host of essential rail upgrades have been carried out on the rail network between London Euston, the Midlands, North West and Scotland over the Easter period. A total of £31m of investment works were carried out across Network Rail’s North West and Central region, as part of the

Yorkshire Water appoints BarhaleDoosan JV and Stantec to wetland project

Yorkshire Water appoints BarhaleDoosan JV and Stantec to wetland project

Yorkshire Water has awarded contracts for the construction of an integrated wetland at its Clifton wastewater treatment works - the first of its kind in Yorkshire – to BarhaleDoosan JV building on support from Stantec. The project will create almost 4,000 square metres of interconnected ponds

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.