(Sharecast News) - Galantas Gold announced an expansion to its current prospecting licence holding on Friday.
The AIM-traded firm said the two areas in Ireland's County Leitrim would bring its total exploration land package in the country up by 47.8 square kilometres, to 159.4 square kilometres.
It also holds an exploration land package totalling 437.3 square kilometres in Northern Ireland, where its Omagh Gold Project is located.
The company said the Department of the Environment, Climate and Communications granted its subsidiary Flintridge Resources with prospecting licences for base metals, gold and silver for six years, starting 28 April.
"Geochemical results derived from the Tellus Border Project, combined with the occurrence of Dalradian-age lithologies and the north-east structural trend, indicate that the prospecting licence areas are prospective for base and precious metals," the board said in its statement.
"Historical records reference copper workings, in addition to more recent zinc and lead mining activity; both of which are situated within the new licence block.
"The company welcomes the opportunity to expand its future exploration focus in the Republic of Ireland, while continuing to prioritise exploration efforts close to the existing mine-site at its Omagh Project in Northern Ireland."
At 1000 BST, shares in Galantas Gold were flat at 36.5p.
Galantas Gold (GAL)