Galway Metals has discovered a new gold zone at Clarence Stream between Jubilee and the South Zone (6 km apart, along the Sawyer Brook Fault System). The new discovery was found by drilling a 700m long soil anomaly where boulders grading 16.5 g/t Au, 11.5 g/t Au and 7.9 g/t Au were found.
So far, every soil anomaly drill-tested to date overlies gold mineralization. This increases the urgency to test the numerous other soil anomalies, many of which are stronger than those found above the four zones of mineralization found, including the South, North, Jubilee and the new George Murphy Zone. Notable drill intersects in the new zone include the following:
2.2 g/t Au over 11.85m, including 12.4 g/t Au over 1.15m starting at a vertical depth of 120m.
0.6 g/t Au over 12.3 m, including 5.3 g/t Au over 0.5m that contained VG starting at a vertical depth of 175m.
1.7 g/t Au over 2.1m, 1.5 g/t Au over 1.0m, and 0.9 g/t Au over 2.1m, all in a 17.5m quartz zone starting at a vertical depth of 29m.
Galway plans on drilling 25,000 metres in 2018, split approximately evenly between its two projects in Canada, Clarence Stream in New Brunswick and Estrades in Quebec. With $8.5mm in cash and nil debt (Q3/17 financials plus recent financing), Galway has more than sufficient capital to complete this program.
The Galway Team would like to wish you and yours a very happy and healthy holiday season and new year.