Last checked at 29 Sep 2017 11:45
GALANTAS GOLD CORPORATION
TSXV & AIM : Symbol GAL
GALANTAS REPORTS POSITIVE RESULT TO JUDICIAL REVIEW INTO OMAGH GOLD MINE PLANNING CONSENT
September 29th, 2017: Galantas Gold Corporation (the 'Company') is pleased to announce a positive outcome to a Judicial Review into the planning consent (the "Consent") for underground development at its wholly owned Omagh Gold Mine, Northern Ireland. The Consent permitted the underground mining of gold veins that were recently worked in upper levels within an open pit.
Granted in July 2015, the Consent, which provided the Company the ability to continue mining underground, was the result of exhaustive study and examination by the Department of Environment Northern Ireland (DOENI) (now within the Department for Infrastructure). The Consent included a number of conditions, including monitoring and restoration matters.
A third party brought a Judicial Review in Belfast High Court to challenge the DOENI decision to grant the Consent.
Judgement in the case has been received. The third party's request for a quashing of the Consent was denied.
Roland Phelps, President & CEO, Galantas Gold Corporation, said, "It is important to note the Company's excellent past environmental performance. The processing plant uses a non-toxic, froth-flotation process to produce gold concentrate which is exported via Belfast to a well-regulated Canadian smelter. No cyanide or mercury is used. Regular water monitoring demonstrates compliance with regulatory standards and there is no acid rock drainage at the site.
Underground development is underway and the Company has a detailed plan to accelerate progress, in line with the confirmed Consent. The plan includes additional employment opportunities locally and we will make further announcements in due course."
Restoration of the Company's share to trading on AIM will occur at 11:45 am London time today.
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.
The information contained within this announcement is considered to be inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 prior to its release.
Enquiries
Galantas Gold Corporation Jack Gunter P.Eng - ChairmanRoland Phelps C.Eng - President & CEOEmail: info@galantas.comWebsite: www.galantas.comTelephone: +44 (0) 2882 241100
Grant Thornton UK LLP (Nomad)
Philip Secrett, Richard Tonthat, Harrison Clarke:
Telephone: +44(0)20 7383 5100
Whitman Howard Ltd (Broker & Corporate Adviser)
Nick Lovering, Grant Barker:
Telephone: +44(0)20 7659 1234