Galantas Gold Corporation POSITIVE RESULT TO JUDICIAL REVIEW (2593S)
September 29 2017 - 5:45AM
UK Regulatory
TIDMGAL
RNS Number : 2593S
Galantas Gold Corporation
29 September 2017
GALANTAS GOLD CORPORATION
TSXV & AIM : Symbol GAL
GALANTAS REPORTS POSITIVE RESULT TO JUDICIAL REVIEW INTO OMAGH
GOLD MINE PLANNING CONSENT
September 29th, 2017: Galantas Gold Corporation (the 'Company')
is pleased to announce a positive outcome to a Judicial Review into
the planning consent (the "Consent") for underground development at
its wholly owned Omagh Gold Mine, Northern Ireland. The Consent
permitted the underground mining of gold veins that were recently
worked in upper levels within an open pit.
Granted in July 2015, the Consent, which provided the Company
the ability to continue mining underground, was the result of
exhaustive study and examination by the Department of Environment
Northern Ireland (DOENI) (now within the Department for
Infrastructure). The Consent included a number of conditions,
including monitoring and restoration matters.
A third party brought a Judicial Review in Belfast High Court to
challenge the DOENI decision to grant the Consent.
Judgement in the case has been received. The third party's
request for a quashing of the Consent was denied.
Roland Phelps, President & CEO, Galantas Gold Corporation,
said, "It is important to note the Company's excellent past
environmental performance. The processing plant uses a non-toxic,
froth-flotation process to produce gold concentrate which is
exported via Belfast to a well-regulated Canadian smelter. No
cyanide or mercury is used. Regular water monitoring demonstrates
compliance with regulatory standards and there is no acid rock
drainage at the site.
Underground development is underway and the Company has a
detailed plan to accelerate progress, in line with the confirmed
Consent. The plan includes additional employment opportunities
locally and we will make further announcements in due course."
Restoration of the Company's share to trading on AIM will occur
at 11:45 am London time today.
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.
The information contained within this announcement is considered
to be inside information as defined in Article 7 of the Market
Abuse Regulation No. 596/2014 prior to its release.
Enquiries
Galantas Gold Corporation
Jack Gunter P.Eng - Chairman
Roland Phelps C.Eng - President & CEO
Email: info@galantas.com
Website: www.galantas.com
Telephone: +44 (0) 2882 241100
Grant Thornton UK LLP (Nomad)
Philip Secrett, Richard Tonthat, Harrison Clarke:
Telephone: +44(0)20 7383 5100
Whitman Howard Ltd (Broker & Corporate Adviser)
Nick Lovering, Grant Barker:
Telephone: +44(0)20 7659 1234
This information is provided by RNS
The company news service from the London Stock Exchange
END
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