17/10/2007
Northern Ireland prospector Galantas Gold says drilling has revealed encouraging gold grades at its Omagh project.
Based in Toronto and listed on the Toronto Venture Exchange as well as AIM, the company says it has found 3.6 metres with 22.29 grammes of gold per tonne of ore at Omagh's Kearney deposit. Intersections at Kearney range from 1.27 to 68.16 grammes-a-tonne of gold, with varying amounts of silver and lead as well.
Chaired by entrepreneurial Jack Gunter, Galantas saw its shares halve to 8.75p between May 2006 and last month. They have now edged back up to 10p, valuing the company at £17.5 million, where the appeal is speculative.
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