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Galway Metals Inc.
Summary
| Project: | Clarence Stream | |
|---|---|---|
| Deposit: | Clarence Stream | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/20/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-2-2018: Galway Metals Inc. announces an Exploration/Drilling Update report for its Clarence Stream deposit at the Clarence Stream project. Drilling results incl. 48.8m @ 0.7g/t Au from 31m. (Toronto, Ontario, February 20, 2017) - Galway Metals Inc. (TS | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Michael Sutton (Not stated) | |
| ABSTRACT: | (Toronto, Ontario, February 20, 2017) - Galway Metals Inc. (TSX-V: GWM) (the "Company" or “Galway”) is pleased to announce additional intersections from the new discovery of mineralization at Clarence Stream in SW New Brunswick, 2 km east of the Jubilee Zone and 4 km west of the South Zone— known as the George Murphy Zone. There are now four drill holes that have intersected two sections, with three on one section and one on the other. The new intersect of 0.7 grams per tonne (g/t) gold (Au) over 48.8 metres (m) (hole GWM18CL-15) is on one section and is located 63.5 to 98 metres above the previously reported intersect of 2.2 g/t Au over 11.9m (GWM17CL-04) and 93 metres north of the previously reported intersect of 5.3 g/t Au over 0.5m (GWM17CL-05-visible gold present). The other section was identified by the new intersect of 2.1 g/t Au over 7.6m (GWM17CL-02), which is located 300 metres west of the 5.3 g/t Au over 0.5m, and there has not yet been any drilling in between (Figure 1 and Figure 2). Drill hole GWM18CL-17 has been drilled below hole GWM17CL-02 and intersected visible gold at downhole depths of 63.30m and 134.60m, with assays pending. The latter intersection likely correlates with the 2.1 g/t over 7.6m in hole GWM17CL-02 located 65m above. The initial release of rushed assays from this new discovery on December 18, 2017 only reported partial assay results from the first five holes. Robert Hinchcliffe, President and CEO of Galway Metals, said, “Galway is poised to unlock the exploration potential of its vast land package, where soil sampling works very well to identify major deposits, just as it does in Nevada, the Yukon, and many other places around the world. The exploration priority going forward will be to continue following the trends along which the four deposits to date have been found. Having wide intersections in new discoveries that are really shallow—in this case at 22 metres below surface—can add value quickly. We’ve been at Clarence Stream for eighteen months, have already reported over a 50% increase in the gold resource. We are excited about the next eighteen months and the prospect of building a new gold district in New Brunswick.” | |
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