(MENAFN- ProactiveInvestors) London listed shares in (CVE:GAL LON:GAL) spiked almost 20% after the discovery of high grade gold on the boundary of the Omagh Gold Mine County Tyrone Northern Ireland.
It had previously discovered boulders near the Sharkey vein with high concentrations of the precious metal.
The latest work follows on from this early exploration activity and could help with the quest to extend the resource base of the mine.
Grab samples from an outcrop and boulder yielded grades of up to 67.5 grams per tonne of gold and 81 grams of silver a spot near the aforementioned Sharkey vein.
Some 540 metres to the east near Discovery vein another outcrop was grab sampled and yield results of 11.8 grams of gold and 19.9 grams of silver.
Chief executive Roland Phelps said: "Our main focus is on expanding the resource base for our Omagh gold property and developing the recently permitted underground mine.
“We have the opportunity to expand the known resources on Joshua and Kearney veins (the main veins) at depth.
“These new results mean we can also examine the possibility of a new vein within the mining area and look at southerly continuations of the main veins which already have a strike length of around 850 metres.”
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