Galway drills 3.0 g/t Au over 12 m at Clarence Stream
2019-12-02 17:21 ET - News Release
Mr. Robert Hinchcliffe reports
GALWAY METALS INTERSECTS 3.0 G/T AU OVER 12.0M IN THE 1KM GAP BETWEEN RICHARD AND JUBILEE AT CLARENCE STREAM
Galway Metals Inc. has released the assay results from a drill hole located between the recent Richard zone discovery and the Jubilee zone. The Richard Zone was first reported in January, 2019, and lies midway between the Jubilee Zone and the Company's first discovery, the George Murphy Zone (initially reported in December, 2017). It is thought that all 3 zones (the George Murphy, Richard and Jubilee), which cover 2.5 km of strike length, are part of the same system. None of these zones are in the resource. (Figure 1)
Robert Hinchcliffe, President and CEO of Galway Metals, said, "The result from this hole validates Galway's belief that the 2 Galway discoveries and the Jubilee Zone are part of the same system. We look forward to continuing to drill to expand the various zones at Clarence Stream and the gap areas between the George Murphy, Richard and Jubilee Zones. Galway Metals believes that Clarence Stream is an emerging new gold district in eastern Canada"
Highlights 19BL-68:
- 3.0 grams per tonne (g/t) Au over 12.0 metres (m) (including 13.3 g/t Au over 1.1m, and 8.3 g/t Au over 1.0m) starting at vertical depth of 112m below surface
The intersection from hole 68 is located 227 metres east of the eastern-most hole at Jubilee, and 530 metres west of the new western hole 72 at Richard which was recently reported on; it intersected 20.7 g/t Au over 9.5m (including 92.0 g/t Au over 0.75m, 51.9 g/t Au over 0.9m and 23.5 g/t Au over 1.1m) plus 14.2 g/t Au over 7.5m (including 63.6 g/t Au over 0.8m, 49.1 g/t Au over 0.5m, and 17.5 g/t Au over 0.75m). The eastern-most hole at Jubilee had intersected 2.1 g/t Au over 7.0m (6.9m TW) in hole BL19-17.
The intersections in hole 72 are 181m and 153m, respectively, from the discovery hole intersection at Richard, BL18-12, which returned 7.3 g/t Au over 36.7m, including 38.1 g/t Au over 6.5m (previously released) in multiple quartz veins containing abundant visible gold, starting only 51 metres downhole and 36 metres vertical. Follow-up drilling in hole BL19-15 intersected 5.4 g/t Au over 11.0m, including 20.9 g/t Au over 2.55m, plus 1.4 g/t Au over 9.0m, and plus 1.5 g/t Au over 7.5m, and hole BL19-69 intersected 5.5 g/t Au over 16.7m (including 50.7 g/t Au over 0.5m, 9.5 g/t Au over 0.5m, 8.4 g/t Au over 0.6m, 32.4 g/t Au over 0.5, 43.2 g/t Au over 0.6m, and 11.7 g/t Au over 0.6m-previously released).
Table 1. Assay Results Hole ID From(m) To(m) Intercept(m) Au g/t GWM-19BL-68 54.0 76.0 PENDING 153.0 165.0 12.0 3.0 incl. 158.0 159.0 1.0 8.3 incl. 163.0 164.1 1.1 13.3 226.0 226.95 0.95 3.9
(TW=True Widths); True widths are unknown if not noted.
New Brunswick Junior Mining Assistance Program
Galway would like to acknowledge financial support from the New Brunswick Junior Mining Assistance Program, which partially funded drilling of the GMZ, Jubilee, and Richard Zones.
Geology and Mineralization
The recent discovery of the Richard Zone in hole 12 contains elevated levels of bismuth, arsenopyrite, and antimony, in multiple quartz veins, with tungsten in the vicinity. This is similar to other Clarence Stream deposits, which can be characterized as intrusion-related quartz-vein hosted gold deposits. Richard Zone contains multiple zones of quartz veining with sulfides and sericite alteration. In general, mineralization at Clarence Stream consists of 10-70% quartz stockworks and veins with 1-5% fine pyrite plus pyrrhotite plus arsenopyrite plus stibnite in sericite altered sediments. The Jubilee mineralization consists of 2%-5% disseminated pyrite, sphalerite, galena, arsenopyrite, chalcopyrite, and pyrrhotite in sediments with white to smoky grey quartz veining. Locally there is up to 10% sphalerite and semi-massive galena veinlets. A more complete description of Clarence Stream's geology and mineralization can be found at www.galwaymetalsinc.com.
Review by Qualified Person, Quality Control and Reports
Michael Sutton, P.Geo., Director and VP of Exploration for Galway Metals, is the Qualified Person who supervised the preparation of the scientific and technical disclosure in this news release on behalf of Galway Metals Inc. All core, chip/boulder samples, and soil samples are assayed by Activation Laboratories, 41 Bittern Street, Ancaster, Ontario, Canada, who have ISO/IEC 17025 accreditation. All core is under watch from the drill site to the core processing facility. All samples are assayed for gold by Fire Assay, with gravimetric finish, and other elements assayed using ICP. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards, blanks and duplicates are inserted at one per 20 samples. Approximately five percent (5%) of the pulps and rejects are sent for check assaying at a second lab with the results averaged and intersections updated when received. Core recovery in the mineralized zones has averaged 99%.
About the Company
Galway Metals is well capitalized with two gold projects in Canada, Clarence Stream, an emerging gold district in New Brunswick, and Estrades, the former producing, high-grade VMS mine in Quebec. The Company began trading on January 4, 2013, after the successful spinout to existing shareholders from Galway Resources following the completion of the US$340 million sale of that company. With substantially the same management team and Board of Directors, Galway Metals is keenly intent on creating similar value as it had with Galway Resources.
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