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Galantas Gold unit granted four licences in Ireland

By BFN News | 04:07 PM | Thursday 29 March, 2012


Galantas Gold's wholly-owned subsidiary, Omagh Minerals, has been granted four exploration licences in Ireland. The licences adjoin an area already held by OML in Northern Ireland. The new licences total an area of approximately 160.7sq.kms. Galantas Gold president and chief executive Roland Phelps said: "Data accumulated to date suggests a broad, multi-element, geochemical trend within OM4 which appears to intensify towards the south-west of the licence and towards the border with the Republic of Ireland. "A specific geochemical anomaly has been identified close to the border that may extend into the Republic. "Soil sampling (44 samples) has recently been completed with very encouraging results. Anomalous mineralised float samples (mineralised rock that has become separated from bedrock and whose source is not determined) have been discovered that assayed in a range from negligible up to 9.88 g/t gold." At 4:07pm: (LON:GAL) Galen Holdings share price was -0.25p at 4.63p Story provided by StockMarketWire.com