Published: August 11, 2016 |

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Galantas Gold Corporation has made initial equipment purchases for its underground gold mine at Omagh, Co.Tyrone, Northern Ireland and reported the results of a detailed study of near-mine structural geology, which has expanded the exploration potential of the mine locality.

EQUIPMENT PURCHASE

Galantas, (through a subsidiary) is purchasing a drill jumbo and a load-haul-dump machine (scoop) for its Omagh gold-mine. The two units will form part of the initial mining equipment required for up-coming underground development.

The single boom, Sandvik drill jumbo and the 6 tonne capacity, GHH scoop are refurbished, used units. The early acquisition will enable employees, drawn from the local area, to receive comprehensive operator training in advance of the commencement of underground operations. The refurbished units will avoid delays in the delivery of the main operating equipment, which is planned to be supplied new. Anticipated to be supplied on a lease finance basis, the main equipment will be confirmed when project funding is secured. After delivery of the main equipment, the refurbished units will assume a back-up and training role.

Currently being modified to suit Galantas requirements, the refurbished units are expected to be delivered during August 2016. They will be used in the construction of the lower underground portal, which is to be built at the base of the Kearney Open Pit. Preparation works related to construction of the underground portal are well advanced.

EXPLORATION PROGRESS

Detailed geological mapping has recently been completed over the Creevan Burn Shear-zone (CBS), which lies to the south of the Omagh Mine site. Outcropping veins were examined as part of this program and results were reported on 16th September 2015. Notable grab samples of outcrop showed 24.2 g/t gold (McCrossan vein) and 11.8 g/t gold (close to Discovery vein).

The mapping was carried out in order to aid understanding of the structural relationship between vein systems to the south of the CBS and those lying to the north, within and adjacent to the mine-site. The new mapping, combined with historic and recent drilling data and other geological information, supports a hypothesis that the shear-zone (CBS) is an imbricated system composed of multiple, near parallel, movement planes that dip towards the north.

The implication of this information is that veins, to the south of the CBS and mine-site, may persist and underlie parts of the shear-zone at depths in excess of the current planned mining depth.

Additionally, the new data supports a provisional assessment that the (southern) Sharkey and McCrossan veins are sheared extensions of the Joshua vein system to the north of the shear-zone. The Joshua vein is one of two main vein systems known in detail from drilling on the Omagh mine-site. The latest drilling program, reported 25th January 2016, included Core 155, on Joshua vein, which returned a 13 meter (true width) intersect with a gold grade of 9.9 g/t, 30.3 g/t silver and 0.6 percent lead, at an estimated depth of 117.2 meters. If the assessment is confirmed, the McCrossan and Sharkey veins may demonstrate persistence of the Joshua vein south of the CBS (towards the Gormley vein complex).

Discovery of the new, high-grade, Kestrel vein, west of Joshua, indicates potential for similar continuity with Princes and Garry veins south-west of the mine site. The Kestrel vein, is located approximately 70 meters west of Joshua vein. A Kestrel drill-core, reported in January 2016, assayed 35.8 g/t gold, 85.8 g/t silver and 4.9 percent lead, over a true width of 0.7 meters, at an estimated vertical depth of 42.4 meters.

The structural evaluation, with existing geophysical data also supports a hypothesis that vein systems to the north of the CBS, as identified within and adjacent to the mine-site, may persist at extended depths to the north of the mine-site and may underlie parts of a near parallel shear-zone considered to exist to the north of the mine boundary.

About Galantas
Galantas Gold Corporation is a public company, dual listed on the TSX Venture Exchange, located in Toronto and London’s AIM market.Galantas owns and recently operated a producing open pit gold mine near Omagh, County Tyrone, Northern Ireland. The mine also produces by-product silver and lead. A metals concentrate is produced by safe, low-toxicity processing and sold under contract to Xstrata Corporation. The mine has now received planning permits to continue to mine underground. The mine has completed part of a drilling exploration program with a significant increase in resources discovered and intends to continue that program.

To stop by Galantas’ website, CLICK HERE

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