Galantas identifies new gold exploration targets in Northern Ireland
16 September 2009
Shares in Canadian miner Galantas Gold Corp soared 127% to 7.1p today after the Toronto and AIM listed company said it had discovered new gold exploration targets in Northern Ireland.
Galantas’s subsidiary company Omagh Minerals currently operates an open pit gold mine near Omagh in County Tyrone. It has spent the last 18 months carrying out test work on its three licenses in the area and come up with some promising news.
The survey work was supported by information from the Geological Survey of Northern Ireland (GSNI) which was gathered as part of the Tellus Project. Tellus was a government funded regional exploration program that recently covered the whole of Northern Ireland.
When combined with a detailed analysis of historical exploration work by the company and others, the Tellus data has proven to be a useful tool to delineate targets for exploration.
Moagh Minerals has not brought in a qualified geochemist, experienced in prospecting, to analyse a collection of 468 soil and 260 rock samples as part of the ongoing work.
Omagh Mineral’s licences include OM 1/03, OM 2/08 and OM 3/08.
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