Galantas Gold reports positive results from latest Omagh drilling

Galantas Gold announced results from its ongoing 4,000-metre drilling program at the Omagh Project in Northern Ireland on Tuesday, reporting that hole FR-DD-21-171 intersected 10.1 grams of gold and 93.5 grams of silver per tonne, and 3.4% lead, over 6.5 metres.

The AIM-traded firm said the hole, drilled from surface, successfully targeted a potential “dilation zone” within the Joshua Vein, and was located about 120 metres from hole OM-DD-15-155 drilled in 2015, which intersected 9.9 grams of gold per tonne over 21.6 metres.

It said hole FR-DD-21-UG-172, drilled from the underground at the Kearney Vein, intersected two zones of mineralisation, including 10.4 grams of gold and 50.5 grams of silver per tonne, and 2.4% lead, over 2.8 metres.

“We are very pleased with the continued success of our exploration program which continues to demonstrate high-grade mineralization at Omagh, particularly high-grade gold in wider dilation zones at both Kearney and Joshua veins,” said chief executive officer Mario Stifano.

“We look forward to providing further updates on drill results and our mine production plan in the near future as we advance this unique opportunity to significantly grow high-grade resources at Joshua and Kearney, which remain open on strike and to depth, while also producing gold.”

At 1243 GMT, shares in Galantas Gold Corporation were up 4.76% at 22p.