Galantas Gold Corp (GALKF)

[downthehatch]

NEWS:
MINING: Galantas Gold CORPORATION (LON:GAL, CVE:GAL)

FROM YESTERDAY: ENVIRONMENTAL STUDY RESULTS: NO RISK OF ACID DRAINAGE

Galantas Gold Corporation has received the results of the two additional environmental studies conducted on the Omagh Gold Mine.
The first of these studies proves that the country rock at the mine is not acid forming and some of the rocks are potentially acid neutralising, consistent with earlier studies.
The second study, a Northern Ireland environment Agency (NIEA) water study has confirmed that the mine is fully compliant with all its water outlet requirements.
Shares were up 9% yesterday on the back of this positive announcement.



NORTHLAND UK VIEW: The completion of these additional environmental reports is an important step forward for Galantas Gold Corp. The study on the acidity of the country rock means that allegations made by two Omagh residents regarding the rocks likely impact on the environment from acid mine drainage and the use of the A5 road, are incorrect. These results will now be submitted with other existing environmental evidence to Minister Kennedy of the Department for Regional Development, responsible for the Road Service agency and who will determine whether to approve the A5 road scheme, allowing the Company to transport waste rock off site. This is key in allowing the Company to recommence open pit operations at the mine, and is also likely to be important for the underground mine planning consent.

Source: Northland UK