Development Mining At Omagh Gold Mine Underway
Northern Ireland gold producer and explorer Galantas Gold Corporation (AIM:GAL) has re-commenced limited underground blasting at the 100%-owned interest Omagh gold mine.
Development mining of the Kearney gold vein has re-started on a single shift basis. It is expected to produce a feed of higher gold grade for the processing plant than the current feed, which comes from low grade stock.
President and CEO, Roland Phelps, said total concentrate production is expected to rise, driven by an expected higher feed grade. During the period of suspension of blasting operations at the mine, key mining skill sets were preserved by the incorporation of personnel within process plant operations. Process plant operations will now reduce from three shifts to two.
Mr Phelps said the limited re-start is being carried out within current cash resources, using a single existing equipment suite, which is fully operational.
The company has also been advised that the restocking of specialist blasting materials may be subject to short-term delays due to Brexit. An operational review will be carried out after a two to four week period. A further announcement will be made when the review has been completed.
“The restart of blasting, although limited by our cash availability, is good progress,” Mr Phelps said.
“If the upcoming review is positive, the re-start is expected to enhance gold concentrate production. Cash constraints do restrict how quickly operations can be expanded and the company is actively working with third parties on the arrangements required both to expand blasting underground and to expand exploration, for which significant potential exists.”
