Galantas Gold Corp plans to extract a potential 20,000 ounces gold a year from the dilation zones at the lower levels of Cavanacaw mine in Omagh, Northern Ireland. MINERAL RESOURCE ESTIMATE The Canadian company, which said it still lacked qualified underground miners, has also completed its first drill hole from underground on a third vein […]
Tag: precious metals
Conroy Gold JV finds new area of gold mineralisation at Newtownhamilton
Conroy Gold and Natural Resources plc said it had discovered a new area of gold mineralisation, with visible native gold present, in the Longford-Down Massif in Northern Ireland. EXPLORATION The JV made the discovery during prospecting over the company’s Mines Royal (Newtownhamilton) option area in County Armagh. The discovery lies south of the company’s Mines […]
Hummingbird adds $1.4m for $19m target fundraise
Hummingbird Resources plc has received a further conditional subscription of US$1.4 million (£1.2m) from certain existing institutional shareholders. OPEN OFFER The company said is also inviting other Hummingbird shareholders to subscribe for new ordinary shares at the same price through an open offer aimed to raise up to circa $2.4m (£2m). The move follows February’s strategic […]
New Ballarat finds visible gold in first Berringa drill holes
New Ballarat Gold Corporation plc (NBGC) said it had found visible gold in the first three holes drilled at the Berringa gold mine within the wider joint venture (JV) project in Victoria, Australia. DRILL PROGRAMME Company partners Red Rock Resources plc (51.1%) and Power Metal Resources plc (49.9%) have also renewed the exploration licence covering […]
Galantas borrows £347,000 for Gairloch
Galantas Gold Corporation has agreed a £347,000 loan from major shareholder Melquart Ltd for the initial lease payment for the recently acquired Gairloch project in Scotland. TERMS The Canadian company is targeting the gold-bearing volcanogenic massive sulphide deposit on land owned by the Gairloch Estate in Wester Ross in the North-West Highlands. The loan is […]
Scotgold conditionally raises £2.5m via placing-subscriptions
Scotgold Resources Ltd has conditionally raised £2.5 million through a placing and subscriptions by certain directors. DIRECTORS DEALINGS The accelerated bookbuild announced on 9 February 2023 involved 6,250,000 new ordinary shares at a price of 40p per share. Scotgold will issue in aggregate 6,250,000 new shares, representing approximately 9.48% of the enlarged share capital. Seven directors […]