Galantas Gold extends drilling programme at Omagh project

11th Apr 2023 14:46

(Sharecast News) - Galantas Gold announced an extension to its drilling programme at the Omagh Gold Project in Northern Ireland on Tuesday.

The AIM-traded company said it was planning to drill an initial 600 metres of diamond drilling from the underground development, to target the Kerr zone and deeper extensions of the Joshua Vein.

It said the underground drive between the Kearney and Joshua veins provided an opportunity to drill the underexplored area between those two main veins, around 300 metres north and on strike of the Kerr surface exposures.

Galantas said it also allowed for deeper targeting of the Joshua Vein.

Specifically, new drill holes would test the down-dip potential of a deep dilation zone, and also target areas outside of the current model.

Earlier results for drill holes within the deeper dilation zone on the Joshua Vein included 8.4 grams of gold per tonne over a 26.6-metre intersection, and 12.4 grams of gold per tonne over a 5.6-metre intersection.

"We want to thank our shareholders for their confidence in the district-scale potential of the Omagh Project and for their support in our recent oversubscribed private placement," said chief executive officer Mario Stifano.

"We're eager to continue building value through the drill bit by going after another area with high-grade potential between the Kearney and Joshua veins that we can now access through the underground drives.

"We look forward to reporting on our exploration results in the coming months."

At 1303 BST, shares in Galantas Gold Corporation were up 5.49% at 25p.

Reporting by Josh White for Sharecast.com.