Galantas Gold Corporation Agrees to Develop Solar Power Facility at Cavanacaw Gold Mine

Galantas Gold Corporation to Develop Solar Power Facility at Cavanacaw Gold Mine

In an effort to boost power generation and reduce carbon footprint, Galantas Gold Corporation has agreed in principle to a proposal from G&F Phelps Ltd. to develop a two-megawatt solar power facility at the Cavanacaw Gold Mine in County Tyrone, Northern Ireland.

The facility, equipped with battery storage, is expected to provide lower cost power than existing diesel generation methods. The proposal involves renting rehabilitated land, including former tailings cells and a filled section of the former open pit, to G&F Phelps. The majority of the capital required for the project will be provided by G&F Phelps, with the cost recouped from the power generated.

Mario Stifano, CEO of Galantas, expressed enthusiasm for the project, stating that on-site solar power generation can reduce operating costs, lower the carbon footprint, and decrease the need for fuel transportation to the site.

G&F Phelps, a shareholder of Galantas, has also provided loan finance to the company and is controlled by former Galantas CEO, Roland Phelps. The surplus power generated by the solar facility is expected to be exported to the local grid.

The proposal is subject to a detailed cost study, impact assessment, and planning permission from regulatory authorities. If successful, the project could have significant benefits for both Galantas Gold Corporation and the environment.

For more information about Galantas Gold Corporation and their projects, visit their website or contact their CEO, Mario Stifano.