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Galway Metals Inc.
Summary
| Project: | Clarence Stream | |
|---|---|---|
| Deposit: | Clarence Stream | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 4/19/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-4-2018: Galway Metals Inc. announces an Exploration/Drilling Update report for its Clarence Stream deposit at the Clarence Stream project. Drilling results incl. 11.9m @ 2.2g/t Au from 170.5m. TORONTO, ON / ACCESSWIRE / April 19, 2018 / Galway Metals I | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Michael Sutton (Not stated) | |
| ABSTRACT: | TORONTO, ON / ACCESSWIRE / April 19, 2018 / Galway Metals Inc. (TSX-V: GWM; OTC PINK: GAYMF) (the "Company" or "Galway") is pleased to report partial assay results from 2,128 metres of drilling contained in seven new holes in the recently discovered George Murphy Zone (GMZ) at Clarence Stream in SW New Brunswick (Figure 1). Galway has drilled 22,677 metres in 116 holes at Clarence Stream since the project was acquired in August 2016 (over 76,000 metres drilled by all operators), with focuses to date on expanding existing resources in the South and North Zones, and on identifying new resources in the Jubilee Zone and the GMZ. Galway plans on incorporating these two new zones into an updated resource in early 2019. On September 26, 2017, Galway issued a resource update on Clarence Stream, prepared by SRK Consulting (U.S.) Inc., which included pit-constrained resources of 352,200 ounces of Measured and Indicated plus 153,100 ounces of Inferred, each at 1.9 g/t gold. The underground gold resource contained an additional 37,800 ounces at 4.4 g/t of Measured and Indicated plus 124,100 ounces at 4.5 g/t of Inferred ( Table 1). The GMZ is located 2 km east of the Jubilee Zone and 4 km west of the South Zone (Figure 2). The new drill results are primarily located within the 300 metre gap between the two lines of drilling where the original discoveries were made. The original discovery holes returned intersections such as 2.2 grams per tonne (g/t) gold (Au) over 11.9 metres (m), 2.1 g/t Au over 7.6m and 0.7 g/t Au over 48.8m (see December 18, 2017 and February 20, 2018). The new results include separate higher-grade intersections of 13.8 g/t Au over 1.4m, 12.5 g/t Au over 1.0m, 8.5 g/t Au over 1.1m and 9.3 g/t Au over 1.0m, and each of these higher-grade intersections are contained within broader intervals of mineralization (Table 2). | |
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