19th Apr 2023 18:51
Galantas Gold Corp - owns Omagh open pit gold mine in Country Tyrone, Northern Ireland - Notes new report by British Geological Survey for the UK's Critical Minerals Intelligence Centre. Says the report "has revealed that the UK has the potential to become a major player in the global critical raw materials market." Notes significance of the report for the company, as it operates the Omagh/Cavanacaw mining and exploration project in Northern Ireland and the Gairloch exploration project in Scotland.
"The report identifies areas in mid-County Tyrone, Northern Ireland and the area around Loch Maree near Gairloch, Scotland - where the company's projects are located - as having geological prospectivity for graphite, antimony, bismuth, molybdenum, tellurium, cobalt, manganese, gallium, germanium and indium," the company says.
Chief Executive Mario Stifano says: "Critical raw materials are essential to the development of many modern technologies, and the UK has a wealth of untapped mineral resources that could help meet growing global demand. We are delighted to see the BGS report highlighting the exploration potential of our Omagh/Cavanacaw and Gairloch projects, and we believe that these projects can play a key role in unlocking the UK's supply of critical raw materials, while also providing a boost to the local economy through job creation and investment."
Current stock price: 24.75 pence, down 1.0% on Wednesday
12-month change: down 40%
By Tom Budszus, Alliance News reporter
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