Thars Goooold in Donegal

Sponge Bob

During the week the Galantas company, operators of this Open Cast Gold Mine SW of Omagh Co. Tyrone made the following announcement.

http://finance.yahoo.com/news/galantas-announces-additional-exploration-licenses-130000715.html

TORONTO, ONTARIO--(Marketwire -03/29/12)- Galantas Gold Corporation (the 'Company') (TSX-V: GAL.V - News)(LSE: GAL.L - News), the AIM and TSXV quoted producer/developer/explorer with a 100% interest in Ireland's only operating gold mine, has been granted, through its wholly owned subsidiary, Omagh Minerals Limited (OML), four exploration licenses in the Republic Of Ireland. The licenses adjoin a license area already held by OML in Northern Ireland. The new licenses total an area of approximately 160.7sq.kms.

They went on.

Roland Phelps (President and CEO, Galantas Gold Corporation) commented, "The new exploration licenses adjoin one of our existing licenses, OM4. Data accumulated to date suggests a broad, multi-element, geochemical trend within OM4 which appears to intensify towards the south-west of the license and towards the border with the Republic of Ireland. A specific geochemical anomaly has been identified close to the border that may extend into the Republic. Soil sampling (44 samples) has recently been completed with very encouraging results.

Finally

The location remains confidential at the moment. ( but somewhere in a rough line between Omagh And Pettigo or Omagh And Donegal Town SB Notes) We intend to carry out additional field work this summer (alongside other exploration on OM4) to further assess the significance of the discovery and this work will be in addition to the intensive drilling program currently progressing at the Omagh mine."

Lucky the crushties are already gathering to smite the fracking hordes only a few miles to the south and can keep an eye out for Open Cast Gold Mines in Donegal as well. Could be a long hot summer.

The prospecting area in Donegal is a strip along the border from Pettigo to Lough Eske north of Donegal Town and surrounding Lough Derg.

touts

So thats a major Oil find two weeks ago, Gas last week, and now gold. In any other country this would all be fantastic news. But thanks to Ray Bertie and Brian the state will see little or nothing from all this and what little we do get will go in repaying bank reparations. All this good news is depressing when you really think about it. Its like learning your work lotto syndicate hit the jackpot but you smugly never joined and instead invested all your money with an ex-general in Nigeria.

Permabear

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