Galway Metals Intersects 29.1 g/t Gold over 4.0m; Including 68.2 g/t over 1.5m at the South Deposit
Galway Metals reported assay results from 11 diamond drill holes at the South Deposit of its Clarence Stream gold project in New Brunswick. Notable intersections include 29.1 g/t gold over 4.0 metres (including 68.2 g/t over 1.5m) in hole CS-407, and 2.0 g/t gold over 8.0 metres in CS-401. The project has a 2022 Mineral Resource Estimate of 922,000 oz indicated (12.4 Mt @ 2.3 g/t Au) and 1.334M oz inferred (16.0 Mt @ 2.6 g/t Au). The company confirms high-grade gold continuity at depth in the South deposit, which is expected to be the starter pit. Additional drilling at the Southwest deposit has intersected visible gold zones, extending mineralization by 140 metres north.
Galway Metals ha riportato i risultati delle analisi di 11 fori di perforazione a diamante presso il Deposito Sud del suo progetto aurifero Clarence Stream nel New Brunswick. Le intersezioni significative includono 29,1 g/t d'oro su 4,0 metri (inclusi 68,2 g/t su 1,5m) nel foro CS-407 e 2,0 g/t d'oro su 8,0 metri nel CS-401. Il progetto ha una Stima delle Risorse Minerali del 2022 di 922.000 oz indicate (12,4 Mt @ 2,3 g/t Au) e 1,334M oz inferite (16,0 Mt @ 2,6 g/t Au). La società conferma la continuità dell'oro ad alta legge in profondità nel deposito Sud, che dovrebbe essere la bocca di partenza. Ulteriori perforazioni nel deposito Sud-Ovest hanno intersecato zone visibili d'oro, estendendo la mineralizzazione di 140 metri a nord.
Galway Metals reportó los resultados de análisis de 11 perforaciones con diamante en el Depósito Sur de su proyecto de oro Clarence Stream en New Brunswick. Las intersecciones notables incluyen 29,1 g/t de oro sobre 4,0 metros (incluyendo 68,2 g/t sobre 1,5m) en el pozo CS-407, y 2,0 g/t de oro sobre 8,0 metros en el CS-401. El proyecto tiene una Estimación de Recursos Minerales de 2022 de 922,000 oz indicadas (12,4 Mt @ 2,3 g/t Au) y 1,334M oz inferidas (16,0 Mt @ 2,6 g/t Au). La compañía confirma la continuidad de oro de alta ley a profundidad en el depósito Sur, que se espera sea el pozo inicial. Perforaciones adicionales en el depósito Suroeste han intersectado zonas visibles de oro, extendiendo la mineralización 140 metros hacia el norte.
갈웨이 메탈스는 뉴 브런즈윅에 위치한 클라렌스 스트림 금 프로젝트의 남부 매립지에서 11개의 다이아몬드 시추구멍에서 채굴 결과를 보고했습니다. 주목할 만한 교차점으로는 4.0미터에서 29.1g/t 금 (CS-407 구멍 내 1.5m에서 68.2g/t 포함) 및 CS-401에서 8.0미터에서 2.0g/t 금이 있습니다. 이 프로젝트는 2022년 광물 자원 추정치로 922,000온스가 확인됨 (12.4Mt @ 2.3g/t Au) 및 1.334M 온스가 추정됨 (16.0Mt @ 2.6g/t Au)을 보유하고 있습니다. 회사는 남부 매립지에서 깊이 있는 고등급 금의 연속성을 확인했으며, 이는 시작 굴착 지점이 될 것으로 예상됩니다. 남서쪽 매립지에서 추가 시추 작업이 가시적인 금 구역과 교차하여 광물화를 북쪽으로 140미터 연장했습니다.
Galway Metals a rapporté les résultats d'analyse de 11 forages diamants au Dépôt Sud de son projet aurifère Clarence Stream au Nouveau-Brunswick. Parmi les intersections remarquables, on trouve 29,1 g/t d'or sur 4,0 mètres (y compris 68,2 g/t sur 1,5m) dans le trou CS-407 et 2,0 g/t d'or sur 8,0 mètres dans le CS-401. Le projet a une Estimation des Ressources Minérales pour 2022 de 922 000 oz indiquées (12,4 Mt @ 2,3 g/t Au) et 1,334M oz inférées (16,0 Mt @ 2,6 g/t Au). La société confirme la continuité de l'or de haute qualité en profondeur dans le dépôt Sud, qui devrait être le gisement de départ. Des forages supplémentaires dans le dépôt Sud-Ouest ont intersecté des zones d'or visibles, étendant la minéralisation de 140 mètres vers le nord.
Galway Metals hat die Analyseergebnisse von 11 Diamantbohrlöchern im Süddepot seines Goldprojekts Clarence Stream in New Brunswick berichtet. Bemerkenswerte Schnittstellen umfassen 29,1 g/t Gold über 4,0 Meter (einschließlich 68,2 g/t über 1,5m) im Loch CS-407 und 2,0 g/t Gold über 8,0 Meter im CS-401. Das Projekt hat eine Mineralressourcenschätzung für 2022 von 922.000 oz angezeigt (12,4 Mt @ 2,3 g/t Au) und 1,334M oz geschätzt (16,0 Mt @ 2,6 g/t Au). Das Unternehmen bestätigt die Kontinuität hochgradigen Goldes in der Tiefe im Süddepot, das voraussichtlich die Startgrube sein wird. Zusätzliche Bohrungen im Südwestdepot haben sichtbare Goldzonen durchstoßen und die Mineralisierung um 140 Meter nach Norden erweitert.
- High-grade gold intersection of 29.1 g/t over 4.0m, including 68.2 g/t over 1.5m
- Confirmation of gold continuity at depth in South deposit
- Extension of mineralization by 140m north at Southwest deposit
- Substantial existing resource of 922,000 oz indicated and 1.334M oz inferred
- Government financial support through New Brunswick Junior Mining Assistance Program
- Drill hole CS-404 abandoned before target depth due to bad ground conditions
TORONTO, ON / ACCESSWIRE / December 2, 2024 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) (the "Company" or "Galway") is pleased to report assay results from 11 diamond drill holes from the South Deposit at the Company's
"The drill results confirm high-grade gold continuity at depth in the South deposit and we believe expanding this deposit is a top priority because it will most likely be the Clarence Stream starter pit. Expect the remaining South Deposit assays to be released in the coming weeks." states Rob Hinchcliffe, President and CEO of Galway. He adds "Follow up drilling at the Southwest deposit has intersected two visible gold zones, which will extend mineralization at least 140 metres towards the north. We will have a dedicated rig expanding the Southwest deposit all winter and expect these assays to be released in early 2025."
Highlights
CS-407 intersected 29.1 g/t gold over 4.0 metres including 68.2 g/t gold over 1.5 metres: Cross Section
CS-401 intersected 2.0 g/t gold over 8.0 metres including 5.9 g/t gold over 2.0 metres
CS-403 intersected 2.6 g/t gold over 5.0 metres including 10.0 g/t gold over 0.65 metres
Gold Continuity Confirmed Below Known South Deposit Resource
The drill holes in this release are located on the eastern side of the South Deposit (Figure 1), with the goal of increasing the resource at depth and along strike. All the drill holes intersected the mineralized structure including the high-grade intercept from CS-407 (Coordinate and Intercept). Drill hole CS-404 was abandoned before target depth due to bad ground and redrilled with hole CS-405. Assays are pending for 13 holes on the Western side of the South Deposit (Figure 2), including the VG zone from CS-414. These holes will be released in the coming weeks.
Southwest Deposit Expanded 140 Metres to the North with VG
A drill rig has been dedicated to expanding the Southwest Deposit to follow up on previous thick, near surface mineralization at the northern area of the deposit (Figure 3). To date 11 additional holes have been completed with hole CL-211 intersecting two zones containing abundant visible gold (Images). This will extend known high-grade mineralization 140 metres towards the North. Results are expected in early 2025.
Geology and Mineralization
The Clarence Stream deposits can be characterized as intrusion-related, structurally controlled, quartz-vein hosted gold deposits. These deposits consist of quartz veins and quartz stockwork within brittle-ductile fault zones that include adjacent crushed, altered wall rocks and veinlet material. The mineralized systems are hosted in intrusive and metasedimentary rocks within high strain zones controlled by regional fault systems. Pyrite, base metal sulphides, and stibnite occur in these deposits along with anomalous concentrations of bismuth, arsenic, antimony and tungsten. Alteration in the host rocks is confined within a few metres of quartz veins and occurs mainly in the form of sericitization and chloritization. A more complete description of Clarence Stream's geology and mineralization can be found at www.galwaymetalsinc.com.
New Brunswick Junior Mining Assistance Program
Galway would like to acknowledge financial support from the New Brunswick Junior Mining Assistance Program, which will contribute up to
Review by Qualified Person
Jesse Fisher, P.Geo., Project Manager for Galway Metals, is the Qualified Person who supervised the preparation of the scientific and technical disclosure in this news release on behalf of Galway Metals Inc.
Quality Control and Reports
All core, chip/boulder samples, and soil samples are assayed by Activation Laboratories, located at 41 Bittern Street, Ancaster, Ontario, Canada, Agat Laboratories, located at 5623 McAdam Road, Mississauga Ontario, Canada L4Z 1N9 and 35 General Aviation Road, Timmins, ON P4P 7C3, and/or Swastika Laboratories situated in Swastika, ON. All four labs have ISO/IEC 17025 accreditation. All core is under watch from the drill site to the core processing facility. All samples are assayed for gold by Fire Assay, with gravimetric finish, and other elements assayed using ICP. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards, blanks and duplicates are inserted at one per 20 samples. Approximately five percent (
About Galway Metals Inc.
Galway Metals is a Canadian mineral exploration and development company focused on advancing its
For additional Information on Galway Metals Inc., Please contact:
Robert Hinchcliffe President & Chief Executive Officer
Telephone: 1-800-771-0680
Email: info@galwaymetalsinc.com
Website: www.galwaymetalsinc.com
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Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, information with respect to the OTCQB listing, DTC eligibility, and broadening U.S. institutional and retail investors. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in economic conditions or financial markets, political and competitive developments, operation or exploration difficulties, changes in equity markets, changes in exchange rates, fluctuations in commodity prices capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Galway Metals Inc.
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