Galway Metals reports positive drilling results at Clarence Stream gold project

The company is also pleased to report encouraging assay results from three additional drill holes and two extensions (1524 m) in the George Murphy Zone (GMZ) at Clarence Stream, the discovery of which Galway first reported in December 2017. This brings Galway’s total drill results reported to date at the GMZ to 9451 m in 32 holes. Four additional drill holes at the GMZ were undertaken since, with visible gold seen in 3 of the 4. Assays are pending. One of those holes intersected visible gold 40 m above previous hole GWM18CL-26 that returned 807.0 g/t Au over 1.25 m within an intersect that graded 241.5 g/t Au over 4.2 m.

“The discovery of a fifth gold deposit at Clarence Stream shows the effectiveness of our exploration programme and points to the strong prospectivity of this new gold belt in New Brunswick. The George Murphy Zone is filling in and expanding nicely, and remains open in all directions. Looking forward, our plan is to follow up with more holes in the new discovery area, and to then expand the Jubilee zone before moving further west in search of additional new discoveries where a high-priority, 4 km long, high-grade soil anomaly exists. We then plan on returning to the GMZ to follow up on wide-open drill targets. Given these and other strong targets and deposits already identified, we believe Clarence Stream represents an exciting new gold district in eastern Canada” commented Robert Hinchcliffe, President and CEO of Galway Metals.

Drill highlights from the GMZ

• GWM-18CL-30: 3.2 grams per tonne (g/t) Au over 17.3 m at a vertical depth of 70 m below surface, (including 33.8 g/t Au over 0.7 m, 9.0 g/t Au over 0.5 m, and 5.5 g/t Au over 0.7 m), plus 13.4 g/t Au over 0.5 m.
• GWM-18CL-21 (extension): 2.0 g/t Au over 23.3 m at a vertical depth of 220 m below surface, (including 8.8 g/t Au over 1.0 m, 8.5 g/t Au over 1.3 m, and 5.7 g/t Au over 1.4 m).
• GWM-18CL-31: 0.7 g/t Au over 26.9 m at a vertical depth of 166 m below surface, (including 2.1 g/t Au over 1.0 m, and 2.3 g/t Au over 1.0 m), plus 45.5 g/t Au over 1.0 m, plus 1.3 g/t Au over 4.0 m, plus 2.8 g/t Au over 1.0 m.
• GWM-18CL-05 (extension): 1.6 g/t Au over 7.2 m at a vertical depth of 235 m below surface, (including 5.6 g/t Au over 1.1 m), plus 0.9 g/t Au over 8.4 m, plus 3.3 g/t Au over 0.7 m, plus 1.0 g/t Au over 4.0 m (265 m below surface).
• GWM-18CL-05 (extension): 1650 g/t Ag over 1.0 m at a vertical depth of 377 m below surface, demonstrating for the first time the presence of very high-grade silver mineralization in GMZ drilling.

Galway targets 200 000 - 260 000 oz at the GMZ

Galway had set 200 000-260 000 oz of gold as an exploration target for the GMZ. Parameters used in arriving at this target are that mineralization would be hosted within a 400m length by 400 m depth area and consist of a 10 m average width zone at 1.6 to 2.0 g/t Au from surface to 150 m, and a 3 m wide zone at 4.0 to 5.0 g/t Au below 150 m. This was based on the first intersections received, and the presence of wide zones of quartz where narrower, higher-grade intersections have been received. While the new drill results provide further support for this GMZ resource target, it remains uncertain if a mineral resource estimate will be delineated. The potential quantity and grade are conceptual in nature, and there has, to date, not yet been sufficient exploration to define a mineral resource.

Galway’s goal is to significantly expand the deposit prior to completing the 2019 resource update. Galway is also planning on drilling a 4 km long, high-grade soil anomaly that is located 2.5 km to 6.7 km along strike to the west of Jubilee. This target contains 11 samples greater than 100 ppb gold, with the highest at 681 ppb. For comparison, 10 ppb is considered very anomalous, and the highest soil in the GMZ was 86 ppb.

The mineralisation consists of 10 - 70% quartz stockworks and veins with 1-5% fine pyrite plus pyrrhotite plus arsenopyrite in sericite altered sediments.

New Brunswick Junior Mining Assistance programme

Galway would like to acknowledge financial support from the New Brunswick Junior Mining Assistance programme, which partially funded drilling of the GMZ.

Read the article online at: https://www.globalminingreview.com/exploration-development/24012019/galway-metals-reports-positive-drilling-results-at-clarence-stream-gold-project/