Galantas Gold Corporation has confirmed the fairness of historic loan advances totalling £176,965 from its majority shareholder Melquart Ltd. NOMAD The Canadian company, developing the Cavanacaw mine in Omagh and the Gairloch project in Wester Ross, received a November 2024 advance of £76,965 and April 2025 advance of £100,000. The funds provided general working capital […]
Tag: Cavanacaw mine – Omagh – Northern Ireland
Galantas looks to solar power for Cavanacaw
Galantas Gold Corporation has agreed in principle with its former chief executive’s plans for solar power at the Cavanacaw gold mine in Omagh, County Tyrone. WIN-WIN Shareholder G&F Phelps Ltd, controlled by Roland Phelps, proposes to develop a two-megawatt facility with battery storage. Galantas expects the project to boost significantly power generation on site and […]
Galantas completes trial stoping at Cavanacaw
Galantas Gold Corporation said it had increased confidence in developing Cavanacaw gold mine after completing trial stoping at the site in Omagh, County Tyrone. OPTIMISATION The Canadian company successfully mined and backfilled six stopes using a narrow vein, modified Avoca longhole open stoping method, in two separate blocks. A planned minimum stope width of 2.2 […]
Galantas plans Kearney North surface drill
Galantas Gold Corporation plans to surface drill test the Kearney North target for a northern extension at Cavanacaw in Omagh, County Tyrone. POTENTIAL The Canadian company said that the deposit area had “well developed” sulphide rich, gold-bearing veins. “Geological modelling suggests that a concealed ore shoot may lie to the north of the site at […]
Galantas Gold halves net losses
Galantas Gold Corp has halved its net losses while it has yet to post a commercial revenue from the Cavanacaw mine in Omagh, County Tyrone. FINANCES Net loss for the year ended 2023 totalled approximately CA$8.6 million compared with $16.7m the previous year. The Canadian company recorded an impairment of $3.6m (2022: $10m) along with […]
Galantas hints at wider potential gold district
Galantas Gold Corporation survey results identified an undrilled target which could reveal the wider potential of the gold district around Cavanacaw mine in Omagh. CORNAVARROW The Canadian company has also received permission to drill eight boreholes from three locations within the mine site, which will target a southern portion of the main Joshua vein. In […]