Business
Galantas Gold Production Update and Change of Broker
TORONTO, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (“Galantas” or “the company”) is pleased to provide an operational update for the Galantas
About this update from Galantas Gold Corporation
[{"type":"text","content":" TORONTO, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (“Galantas” or “the company”) is pleased to provide an operational update for the Galantas Gold Mine, Omagh, Northern Ireland and details of a change of AIM broker. Concentrate Production Concentrate processing operations re-started, following a Covid shutdown, on May 26, 2020. While underground mining remains suspended, current processing utilises low grade stock. In the period from May 26, 2020 to September 30, 2020, approximately 147 tonnes of concentrate was despatched, containing an estimated 551.5 troy ounces of gold. In the third quarter ending September 30, 2020, approximately 98 tonnes of concentrate was despatched, containing an estimated 386.2 troy ounces of gold. All weights and contained metal estimates are provisional and subject to confirmation. The estimated monthly recovery of gold to concentrate, in the third quarter, has averaged 95.4%, with low grade feed carrying a monthly estimated average of 2.14 g/t gold. Environmental monitoring of operations continues to demonstrate satisfactory results within regulatory constraints. Potential Partnering Active discussions continue with a number of potential partners regarding funding to provide the investment required for additional mine development and exploration. On-site inspections have been restricted by Covid related matters. AIM Broker Change The Company is pleased to announce that, pursuant to the acquisition of Whitman Howard Limited by Panmure Gordon & Co (“Panmure Gordon”), it has appointed Panmure Gordon as its AIM Broker with immediate effect. Qualified Person This release has been prepared by Roland Phelps (President & CEO), a qualified person under the meaning of NI. 43-101. The information is based upon local production data prepared under his supervision. NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including anticipated production estimates, for the Omagh Gold project. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that ...