December 05, 2022

David Morgan: Galantas Gold on the Cusp of Mining Irish Gold

April 15, 2022
29

By The Morgan Report | David Morgan

During my two days at the 121 Mining Conference in Las Vegas recently, I discovered some interesting companies. Galantas Gold is certainly one of them and it is suggested that you read this first look at the company.

Galantas Gold Corp is fine-tuning details to begin production at its Omagh gold mine in Northern Ireland. It is also on the hunt for additional high-grade gold on its 550km2 licence area.

The Omagh project sits on prime exploration ground. It is in close proximity to Dalradian’s Curraghinalt gold deposit – a world-class asset. Omagh is in a major gold district that hasn’t really seen a significant amount of exploration outside of work done by Dalradian.

Omagh and Curraghinalt share a similar lithological and structural setting.

Omagh Project

From the Carolinas in the U.S. to Newfoundland in Canada, to the island of Ireland, and up into Scotland, this was all one land mass brought together along major fault lines. The faults created pathways for ore-bearing fluids to rise up from the crust resulting in mineral-rich deposits, including gold and base metals. Northern Ireland hasn’t conducted a lot of exploration other than Dalradian. Now that Newfoundland has seen significant discoveries recently, Galantas is positioning itself for the same success.

Dual strategy of pursuing cashflow from mining operations to fund exploration

Early Bronze Age lunula made with pure Irish gold found in Tyrone County, where the Omagh project is located. On display at the National Museum of Ireland. Photo: National Museum of Ireland.
Galantas has focused on getting its asset into production. The company raised CAD$8M last year, and brought in Eric Sprott and Mike Gentile, two significant new shareholders who are renowned in the industry for supporting high-quality projects. This fresh funding will allow the company to produce 9,000 ounces this year, and around 18,000 ounces next year. At the same time, Galantas plans to continue aggressively exploring for more high-grade resources, as part of the company’s dual strategy.

Galantas is unique in that cashflow from operations can be used to explore the Joshua and the Kearney veins – two of many high-priority targets on the company’s land package. There aren’t many juniors out there that have prime exploration ground, particularly high grade, with production to generate cash flow, in addition to a very tight capital structure.

Excellent results from 2021-2 drill program

Galantas has had excellent drill results since its 4,000-metre drill program began in July 2021, including:

” 31.7 grams per tonne (g/t) gold (Au) and 58.5 g/t silver (Ag) over a 7-metre core intersect at the main Kearney Vein.
” 17.4 g/t Au and 74.6 g/t Ag over a 13.1-metre intersect at the Joshua Vein.
” 10.1 g/t Au and 93.5 g/t Ag over a 6.5-metre intersect at Joshua.
” 26.7 g/t Au and 88.2 g/t Ag over a 2.9-metre intersect at Kearney.

Split section of drill core from hole FR-DD-22-UG-181, part of a Kearney Vein sample grading 213 g/t Au and 134 g/t Ag.

With the deposit remaining open on plunge, these results demonstrate the potential to discover additional high-grade mineralization at Omagh and expand the gold resources. The results also demonstrate the predictability of grades, thus enabling easier mining.

About Amagh Project

Situated within a 189 km2 licence area, the Omagh Project lies approximately 1.5 hours’ drive west of Belfast, in Northern Ireland. It is situated to the west of Omagh, which is the main administrative centre of Tyrone. The Company currently holds five exploration licences over an area of 548.9 km2.

Check out www.galantas.com and stay tuned for upcoming news on its drill program and commencement of production, or contact Mario Stifano, Chief Executive Officer, at info@galantas.com

You can also sign up for Galantas updates at galantas.com

Let David Morgan and His Passion Create Your Wealth

I’ve Been Helping My Subscribers Weather the Current Economic Mess. Now I Invite You to Join My Growing Circle of Successful Investors.

Learn and become an insider for The Morgan Report, click botton below:

The Morgan Report is all about YOU and how you can build and preserve Wealth for generations to come. We know it can sometimes seem a daunting task to protect your assets and preserve or grow your wealth. Over 15 years ago, a small group of us started The Morgan Report and formed an exclusive membership organization to promote personal freedom, an honest money system, free market wealth accumulation, and asset protection.

Thus was born The Morgan Report – since then we’ve helped 11,000-plus members scattered over the globe in every continent and over 100,000+ e-newsletter subscribers have read our weekly e-newsletter — This Week’s View from The Morgan Report.

Through our publication, The Morgan Report, we provide you with ways to achieve greater financial security and wealth in all sorts of environments.

About David Morgan

David Morgan is a widely recognized analyst in the precious metals industry and consults for hedge funds, high net worth investors, mining companies, depositories, and bullion dealers. He is the publisher of The Morgan Report, a world-class publication designed to build and secure wealth. He is the author of “The Silver Manifesto” and a featured speaker at investment conferences worldwide.

David Morgan has appeared on CNBC, Fox Business, Yahoo Finance, MSNBC, and BNN in Canada. He has interviewed- The Wall Street Journal, Futures Magazine, Investing Rules Book, and numerous other publications.

Additionally, he provides the public with a tremendous amount of information. David is a macroeconomist educating people about honest money and the benefits of a sound financial system.

Website: http://www.themorganreport.com

Second Chance Book: http://www.thebooksecondchance.com
The Silver Manifesto: http://www.thesilvermanifesto.com

Blog: http://www.silver-investor.com/blog
YouTube: https://www.youtube.com/user/silverguru
Twitter: http://twitter.com/silverguru22

Disclaimer
MiningIR host a variety of articles from a range of sources, our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.
James Hyland, MiningIR