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Galway Metals Inc.
Summary
| Project: | Clarence Stream | |
|---|---|---|
| Deposit: | Clarence Stream | |
| Location: | Canada | |
| Commodities: | Gold-Antimony | |
| Date: | 9/26/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-9-2017: Galway Metals Inc. announces a Resource Estimation report for its Clarence Stream deposit at the Clarence Stream project. 54% Increase in Gold Resources at Clarence Stream. This report was prepared as a Canadian National Instrument 43-101 (NI 4 | |
| Resources: | (Resource, M+I): 6.178Mt @ 1.96ppm Au for 390koz Au contained at Clarence Stream | |
| CP/QP: | [Resources]: J.B. Pennington, J. L. Smith (SRK Consulting (US) Inc.) | |
| ABSTRACT: | This report was prepared as a Canadian National Instrument 43-101 (NI 43-101) Technical Report on Resources (Technical Report) for Galway Metals Inc. (Galway or the Company) by SRK Consulting (U.S.), Inc. (SRK) on the Clarence Stream Gold Project (Clarence Stream or the Project) located in Charlotte County, New Brunswick, Canada. This report supports a press release issued by Galway on September 26, 2017, in which the Company reported updated gold resources at Clarence Stream. Galway is a Toronto based company formed in May 2012 and is a reporting issuer in British Columbia, Alberta, and Ontario. The common shares of Galway trade on the TSX Venture Exchange and the company is under the jurisdiction of the Ontario Securities Commission. The Clarence Stream project has traditionally been modeled and evaluated as a high-grade lenshosted gold deposit with expected future mining via underground methods. In the first quarter of 2017, Galway contracted SRK to carry out a high level open pit evaluation of the deposit that had not previously been considered. The results of this effort indicate that the project has potential as a commercial open pit mine. Based on those findings, Galway contracted SRK to develop and report an updated Mineral Resource estimate and Technical Report conforming to the Canadian Institute of Mining Metallurgy and Petroleum (CIM) National Instrument 43-101 guidelines (NI 43-101) that focuses primarily on an open pit resource, but also includes an estimate of the potential underground resource below the open pit. SRK’s Qualified Persons (QPs) visited the site on June 29, 2017. | |
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