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Irish-based Galantas Gold (TSX-V & AIM: GAL) expects production to commence at the end of Q1 2022 with 9,000 ounces of gold in concentrate produced.
The average head grade is forecast at 5.50 grams per tonne (g/t) at an all in sustaining cost (AISC) of US$1,150 per payable ounce for the year ending 2022, said the company.
In 2023, production is expected to increase to 17,800 ounces at an average grade of 8.0 g/t and an AISC of US$1,350 per payable ounce.
The company says Galantas will be Northern Ireland’s first gold mine.
“2021 was a headline year for Galantas as we attracted key management talent and new supportive shareholders, and made significant investments in underground development, mine infrastructure and equipment. Thanks to the hard work of our team on the ground, we are now on the cusp of commencing gold production at Omagh. The opportunity for growth and to create value for our shareholders is tremendous as technical and engineering studies to expand and upgrade the processing plant to support a Phase 2 expansion to 35,000 ounces of gold per annum, are underway – with further phased production growth envisioned to support an aggressive exploration program to grow our high-grade gold resources and unlock the full potential of a newly emerging high-grade gold district.”
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