Galantas on cusp of starting Omagh production
Canadian company Galantas Gold is about to start producing gold at its Omagh mine, in Northern Ireland, with production set to start at the end of the current quarter.
The company, which trades on the TSX-V and London Aim markets, expects to produce 9 000 oz of gold in concentrate at an average head grade of 5.5 g/t at an all-in sustaining cost (AISC) of $1 150/oz this year.
In 2023, production is expected to increase to 17 800 oz at an average grade of 8 g/t and an AISC of $1 350/oz.
“Thanks to the hard work of our team on the ground, we are now on the cusp of commencing gold production at Omagh,” CEO Mario Stifano said in a statement.
He also noted that technical and engineering studies to expand and upgrade the processing plant to support a Phase 2 expansion to 35 000 oz/y of gold were under way.
Galantas has budgeted $4.2-million for growth capital expenditure this year.
The company will continue its 4 000-m underground drilling programme, started in 2021, this year and plans to aggressively drill the Joshua and Kearney veins. Additional highly prospective targets will be drilled in the second half of 2022.
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