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Galway Metals Inc.
Summary
| Project: | Clarence Stream | |
|---|---|---|
| Deposit: | Clarence Stream | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 12/20/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-12-2016: Galway Metals Inc. announces an Exploration/Drilling Update report for its Clarence Stream deposit at the Clarence Stream project. Drilling results incl. 6.0m @ 2.1g/t Au from 332.4m. (Toronto, Ontario, December 20, 2016) - Galway Metals Inc. | |
| Resources: | (Resource): 0.822Mt @ 6.90g/t Au (Ind) and 1.226Mt @ 6.34g/t Au (Inf) (cut grades) | |
| CP/QP: | [Overall Report]: Mike Sutton (Internal) | |
| ABSTRACT: | (Toronto, Ontario, December 20, 2016) - Galway Metals Inc. (TSX-V: GWM) (the "Company" or “Galway”) is pleased to provide an exploration update on the Clarence Stream property on which, in August 2016, the Company reported that it had entered into Purchase and Option Agreements and staked claims to acquire a 100% undivided interest. Drilling is now ongoing, with 11 holes completed, with assays from the first hole returning 6.3 g/t Au over 1.0m (1.0m TW; in 2.1 g/t Au over 6.0m (5.9m TW)). Strong quartz veining was intersected in this hole, with abundant antimony, pyrrhotite and arsenopyrite. This intersection is located 47m below a previous intersection of 4.2 g/t Au over 5.0m (4.9m TW), and 84m above a previous intersection of 8.0 g/t Au over 12.0m (10.4m TW). Complete assays are pending for the remaining holes. The holes are targeting both extensions to the resource, and the upgrading of resources from inferred (100m centres) to indicated categories (as in the case of hole CS-331). Two mineralized horizons have been drilled, with all holes in the South Zone. Mineralization in the South Zone is steeply-dipping, and in close proximity to the Sawyer Brook Fault. Other veins intersected in the first hole returned 1.7 g/t Au over 0.8m, and 0.8 g/t Au over 1.0m. | |
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