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Pin to quick picksGalantas Gold Regulatory News (GAL)

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DEVELOPMENT OF OMAGH GOLD MINE COMMENCES

15 May 2017 07:00

RNS Number : 0650F
Galantas Gold Corporation
15 May 2017
 

GALANTAS GOLD CORPORATION

TSXV - AIM "GAL"

 

DEVELOPMENT OF OMAGH GOLD MINE COMMENCES

 

15 May 2017. Galantas Gold Corporation ("Galantas" or the "Company") is pleased to advise that underground mine development operations are shortly expected to commence at the Omagh Gold Mine, Co.Tyrone, Northern Ireland. This follows notification that the Police Service of Northern Ireland ("PSNI") has been able to increase availability of its required anti-terrorism cover in regard to blasting operations, sufficient for underground mine development to start.

 

As reported, on 24th April 2017, the PSNI requires that it supervises transportation and use of certain rock breaking materials and explosives in Northern Ireland.

 

The Company is advised that the PSNI has agreed to cover blasting operations at the mine for 3 days per week, 2 hours per day. Whilst insufficient to sustain the development or operation of the Omagh Gold Mine on more than a short term basis, it will form the basis for the PSNI and the Company to review matters after a period of operation.

 

The PSNI decision to resource 3 day cover has enabled the Company to retain some existing employees. The current project investment program is being cautiously re-opened pending a review of available PSNI cover after a period of operation.

 

Roland Phelps, President & CEO, Galantas Gold Corporation said, "I am pleased that the PSNI has agreed to a short term accommodation. I hope this will allow the parties to find efficient ways to satisfy PSNI's requirements and resourcing issues in regard to anti-terrorism security."

 

The Omagh Gold Mine has an operational processing plant and tailings facility with an excellent environmental record. The plant uses a non-toxic, froth flotation process, without the use of cyanide or mercury and produces a gold concentrate which is exported for smelting. The remaining tailing sands are clean and free from acid drainage. The plant is on stand-by awaiting ore from underground development. The underground mine, when fully developed, is expected to create 130 jobs plus others in service industries associated with the development.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Enquiries : Galantas Gold CorporationL. Jack Gunter P.Eng - Chairman, Roland Phelps C.Eng - President & CEO

Email: info@galantas.com Telephone: (UK) +44 (0) 2882 241100

Website: www.galantas.com 

 

Grant Thornton UK LLP (Nomad)

Philip Secrett, Richard Tonthat: Telephone: +44(0)20 7383 5100

 

Whitman Howard Ltd (Broker & Corporate Adviser)

Nick Lovering, Grant Barker: Telephone: +44(0)20 7659 1234

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCGGUPAAUPMPUP
Date   Source Headline
14th Feb 20113:00 pmRNSOperational Update
22nd Dec 20103:00 pmRNSEquipment Purchase
25th Nov 20103:00 pmRNSQuarterly Results
25th Nov 20103:00 pmRNSManagement Discussion and Analysis
28th Oct 20102:00 pmRNSGold Processing Plant Upgrade
19th Oct 20102:00 pmRNSResults of Mining of Kerr Vein
13th Oct 20103:22 pmRNSFurther re Issue of Equity
23rd Aug 20103:00 pmRNSHalf Yearly Report
23rd Aug 20103:00 pmRNSManagement Discussion and Analysis
11th Aug 20103:00 pmRNSTrading Update
22nd Jul 20103:00 pmRNSIssue of Equity
12th Jul 20103:00 pmRNSResult of Special Meeting
25th Jun 20103:00 pmRNSResult of AGM and Notice of Special Meeting
18th Jun 20102:00 pmRNSAppointment of General Manager at Omagh Mine
27th May 20102:30 pmRNSManagement Discussion & Analysis
27th May 20102:30 pmRNSQuarterly Results
28th Apr 20103:00 pmRNSFinal Results
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27th Nov 20095:10 pmRNSManagement Discussion and Analysis
27th Nov 20095:09 pmRNS3rd quarter interim results
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29th May 20093:00 pmRNSConsolidated Financial Statements
29th May 20093:00 pmRNSManagement Discussion and Analysis
29th Apr 20094:04 pmRNSFinal Results
29th Apr 20094:00 pmRNSManagement Discussion and Analysis
1st May 20087:01 amRNSTrading Statement
1st May 20087:01 amRNSMD&A
1st May 20087:01 amRNSFinal Results
15th Aug 200611:01 amRNSMD&A
15th Aug 200611:00 amRNSInterim Results
16th May 200612:56 pmRNS1st Quarter Results

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