Canadian gold miner Galantas Gold said that it has closed a loan agreement for $1.06 million with Ocean Partners UK with an aim to further develop the Omagh Gold Project in Northern Ireland.
As per the terms of the agreement, the loan matures on 31 July 2022 and will have an interest at an annual rate of 10% compounded monthly payable after its repayment.
The Omagh Gold Project is spread over a licence area of 189km2, located nearly 1.5 hours’ drive west of Belfast.
In late January, Galantas Gold said that it has intercepted high-grade gold from its ongoing 4,000m drilling program at the Omagh gold mine.
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