Galantas Gold ups gold estimates at Northern Ireland project

28th Jul 2014 14:49

Explorer Galantas Gold has increased reserve estimates at a mine in Northern Ireland.Galantas reported an overall 19% increase in resources since the Galantas 2013 Resource Report in June 2013 and a 60% increase in resources since a report by ACA Howe International in July 2012.President and Chief Executive Roland Phelps said the group had not yet found the limits of most of the gold veins it had discovered and the total resource could be much larger. It expects to be able to produce about 32,000 ounces a year, which could rise.He said: "Our detailed geological, mining and economic studies demonstrate the excellent potential of an underground mine at Omagh."With planning permits approaching the final stage of determination, we are looking forward to building a sound business that will provide local jobs."PW