RNS5 Jul 2011 16:18
RNS Number : 6539J
Galantas Gold Corporation
05 July 2011
GALANTAS GOLD CORPORATION
TSXV & AIM : Symbol GAL
GALANTAS REPORTS RECORD SECOND QUARTER 2011 AND FUNDS DRILLING OUT OF CASH-FLOW.
July 5th, 2011: Galantas Gold Corporation (the 'Company') has received a trading update for the second quarter, ending June 30(th) 2011, from its wholly owned subsidiary, Omagh Minerals Ltd (OML), which operates the only gold mine in Ireland.
The month of June has seen some important production records exceeded since mining production began, as the recent processing plant upgrades show their potential. The highest daily concentrate production (23 wet tonnes), highest weekly concentrate production (111.5 wet tonnes) and highest monthly concentrate production (337.264 wet tonnes) all contributed to a record second quarter (805 wet tonnes). For the first time, one month's production at the Omagh Mine (at 1,204 ounces gold equivalent for June) has exceeded the milestone of 1,000 troy ounces of gold equivalent.
Highlights of comparative production figures are summarized below:
Three Months Three Months
to June 30 to June 30 Six Months to Six Months to
2011 2010 June 30 2011 June 30 2010
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Tonnes Milled 15,883 10,602 22,832 17,582
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Average Grade
(g/t gold) 5.39 3.19 4.97 5.90
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Tonnes per
hour 9.18 8.13 8.77 7.35
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Concentrate
Dry Tonnes 754 325 1,036.5 919.20
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Concentrate
Gold Grade
(g/t) 103.1 128.9 102.6 116.3
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Gold Produced
kg (troy
ozs) 77.7 (2,500) 41.88 (1,347) 106 (3,410) 107.1 (3,443)
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Concentrate
Silver Grade
(g/t) 232.2 335.4 241.1 343.3
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Silver
Produced kg
(troy ozs) 173.8 (5,586) 109.00 (3,505) 249.9 (8,034) 315.6 (10,147)
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Lead Produced
(tonnes) 120.6 45.47 170.7 139.7
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