(Alliance News) - Galantas Gold Corp on Tuesday said it has found high-grade gold at the Omagh project in Northern Ireland as part of its ongoing 4,000 meter drill programme.
The Toronto-based gold miner and producer said the first hole to target the Kearney vein from an underground drill platform returned two high-grade intersections. One intersection returned 17.7 grams of gold per tonne and the other 10.8 grams.
It added that surface drilling targeting the Joshua vein is in progress, with the first holes returning 7.7 grams of gold per tonne.
"We are very encouraged by the positive start to the surface and underground exploration program consisting of 4,000 metres of diamond drilling on the Kearney and Joshua veins - two of many high-priority targets on the company's land package," said Chief Executive Mario Stifano.
"Drilling will also target continuity and grade of additional mineralised zones running parallel to the main orebody."
Galantas has completed 2,000 metres of underground development at the Kearney vein, with development currently within 240 metres of the Joshua vein.
Last month, Galantas' Director James Golla resigned after 20 years, noting he belives the Omagh project "will become a leading gold operation in Northern Ireland".
Shares were up 2.2% at 23.50 pence in London on Tuesday.
By Josie O'Brien; josieobrien@alliancenews.com
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Galantas Gold (GAL)