Galantas Gold Corporation GALANTAS INCREASES GOLD CONCENTRATE PROCESSING (5781E)
November 09 2020 - 2:00AM
UK Regulatory
TIDMGAL
RNS Number : 5781E
Galantas Gold Corporation
09 November 2020
GALANTAS GOLD CORPORATION
TSXV - "GAL" - AIM
GALANTAS INCREASES GOLD CONCENTRATE PROCESSING
November 9, 2020. Galantas Gold Corporation ("Galantas" or "the
company") is pleased to announce an increase in gold concentrate
processing has been achieved at the Galantas Gold Mine, Omagh,
Northern Ireland.
Three shift processing commenced on 26(th) October 2020. The
addition of a third shift has increased milling from 84 hours to
120 hours per week. Additional training and labour re-organisation
has enabled the change to be made, without additional hiring, by
redeployment within the business. An increase in gold concentrate
output of up to 43% is anticipated, due to the increase in weekly
milling hours.
Qualified Person
This release has been prepared by Roland Phelps (President &
CEO), qualified person under the meaning of NI. 43-101 and is based
upon information prepared under his direction.
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
processing plant output, 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 Galantas believes are
appropriate in the circumstances. Many factors could cause
Galantas' actual results, the performance or achievements to differ
materially from those expressed or implied by the forward looking
statements or strategy, including: gold price volatility;
discrepancies between actual and estimated production, actual and
estimated metallurgical recoveries and throughputs; mining
operational risk, geological uncertainties; regulatory
restrictions, including environmental regulatory restrictions and
liability; risks of sovereign involvement; speculative nature of
gold exploration; dilution; competition; loss of or availability of
key employees; additional funding requirements; uncertainties
regarding planning and other permitting issues; and defective title
to mineral claims or property. These factors and others that could
affect Galantas's forward-looking statements are discussed in
greater detail in the section entitled "Risk Factors" in Galantas'
Management Discussion & Analysis of the financial statements of
Galantas and elsewhere in documents filed from time to time with
the Canadian provincial securities regulators and other regulatory
authorities. These factors should be considered carefully, and
persons reviewing this press release should not place undue
reliance on forward-looking statements. Galantas has no intention
and undertakes no obligation to update or revise any
forward-looking statements in this press release, except as
required by law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Enquiries
Galantas Gold Corporation Roland Phelps C.Eng - President &
CEO
Email: info@galantas.com Website: www.galantas.com Telephone: +44 (0) 2882 241100
Grant Thornton UK LLP (AIM Nomad)
Philip Secrett, Harrison Clarke.
Telephone: +44(0)20 7383 5100
Panmure Gordon & Co (AIM Broker & Corporate Adviser)
Nick Lovering, Hugh Rich
Telephone: +44(0)20 7886 2500
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END
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