Galantas Gold Corporation (“Galantas” or the “Company”) is pleased to announce that a new report produced by the British Geological Survey (BGS) for the UK’s Critical Minerals Intelligence Centre (CMIC) has revealed that the UK has the potential to become a major player in the global critical raw materials market. The report, titled "Potential for Critical Raw Material Prospectivity in the UK", identifies areas with critical raw material prospectivity.
The report is particularly significant for Galantas, which operates projects in the UK – the Omagh/Cavanacaw mining and exploration project in Northern Ireland, and the Gairloch exploration project in Scotland. The report identifies areas in mid-County Tyrone, Northern Ireland and the area around Loch Maree near Gairloch, Scotland – where the Company’s projects are located – as having geological prospectivity for graphite, antimony, bismuth, molybdenum, tellurium, cobalt, manganese, gallium, germanium and indium.
Mario Stifano, CEO of Galantas, commented: “Critical raw materials are essential to the development of many modern technologies, and the UK has a wealth of untapped mineral resources that could help meet growing global demand. We are delighted to see the BGS report highlighting the exploration potential of our Omagh/Cavanacaw and Gairloch projects, and we believe that these projects can play a key role in unlocking the UK’s supply of critical raw materials, while also providing a boost to the local economy through job creation and investment.
“We commend this national-scale assessment in support of the UK Critical Minerals Strategy, which aims to improve the supply chain security of critical minerals by accelerating the UK’s domestic capabilities.”
The full report is available on the CMIC website at ukcmic.org.