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Galway Metals Inc.
Summary
| Project: | Estrades | |
|---|---|---|
| Deposit: | Estrades | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Zinc-Copper-Lead | |
| Date: | 2/28/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-2-2017: Galway Metals Inc. announces an Exploration/Drilling Update report for its Estrades deposit at the Estrades project. Drilling results incl. 1.6m @ 72.5g/t Au, 40.1g/t Ag from 92m. Galway Metals Inc. (TSX-V: GWM) (the "Company" or “Galway”) is p | |
| Resources: | (Resource, Ind.): 1.3Mt @ 3.89g/t Au, 137.9g/t Ag, 7.95% Zn, 1.12% Cu, 0.65% Pb at project | |
| 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 its first diamond drill hole from its 18,314 hectare Estrades polymetallic property located in the northern Abitibi of western Quebec, Canada. On August 18, 2016, the Company announced that it had consolidated 100% of the Estrades mining camp, which includes approximately 17, 16, and 31 km along the Estrades, nearby Newiska and Casa Berardi trends, respectively. Galway simultaneously released the results of an updated NI 43-101 Estrades resource estimate carried out by Roscoe Postle Associates (RPA). A summary of the new resource is provided below. Breakwater Resources Ltd. spent CDN$20 million in 1990 developing Estrades, including the installation of a 200 metre (m) deep by 150 m along strike decline, a ventilation raise and associated infrastructure. Production in 1990-91 totalled 174,946 tonnes grading 12.9% Zn, 6.4 g/t Au, 1.1% Cu and 172.3 g/t Ag. Breakwater closed the mine amid weak metal prices. Robert Hinchcliffe, President and CEO of Galway Metals, said, “Galway is thrilled to have been able to intersect such high grades in its very first hole drilled at Estrades, and in doing so likely increased the strike length and total resource of the project. There are not many VMS deposits that are so high grade in terms of gold. The Company is looking forward to continuing its exploration program at Estrades, initially to fill in near-surface gaps in the resource, and later to drill for rich vent systems that may exist at depth. Galway is currently completing a paired IP program with a search radius of approximately 400 metres to assist with this deep drilling program. Galway is also very encouraged to have begun its drill program at Estrades in a similarly strong fashion as it has done at Clarence Stream. Galway now has two excellent exploration projects in mine-friendly Canadian jurisdictions that the Company is advancing.” | |
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