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Galway Metals Inc.
Summary
| Project: | Clarence Stream | |
|---|---|---|
| Deposit: | Clarence Stream | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/1/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-2-2017: Galway Metals Inc. announces an Exploration/Drilling Update report for its Clarence Stream deposit at the Clarence Stream project. Drilling results incl. 18.0m @ 7.9g/t Au from 23.0m. Galway Metals Inc. (TSX-V: GWM) (the "Company" or “Galway”) i | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mike Sutton (Not stated) | |
| ABSTRACT: | Galway Metals Inc. (TSX-V: GWM) (the "Company" or “Galway”) is pleased to announce assay results from four diamond drill holes from its Clarence Stream gold property located in south-western New Brunswick, Canada. On August 3, 2016, the Company announced that it had secured an Option Agreement to acquire a 100% interest in the property. Robert Hinchcliffe, President and CEO of Galway Metals, said, “Galway is very encouraged by the wide, near-surface and high-grade mineralization encountered in these four holes, as well as in other similarly rich nearby holes that demonstrate excellent continuity. Management is beginning to better understand the positive impacts that these intersects have on the project. Drilling of the North Zone, which will commence shortly, has similar high grade and near surface intersects.” The drill results are significant because they enhance continuity of wide intersects of near-surface mineralization in the central area of the South Zone, which may be amenable to open pit mining. This area continues to exhibit excellent continuity along 100+ m of strike length and depth, and is open to expansion, especially to the west and to depth where other similar wide and high-grade veins have been intersected. To date, all resources were prepared using a 3.0 g/t lower cutoff grade, which implies underground mining scenarios. The use of a much lower cutoff that would be more appropriate for open pit mining is expected to bring more ounces into resource. | |
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