American Marconi Wireless News - Galway Metals Reports High-Grade Gold Intercepts at Southwest Deposit Including 20.7 g/t Gold over 11.0 Meters

"These results continue to demonstrate the strong continuity of high-grade gold mineralization in the northeastern portion of the Southwest Deposit," said Rob Hinchcliffe, President and CEO of Galway Metals. "The robust intercepts returned in this drilling, particularly in hole CL-249, continue to strengthen our understanding of this area of the deposit and provide important information on the structural controls influencing higher-grade mineralization. As we advance the updated Mineral Resource Estimate, this work is helping refine both our geological model and future drill targeting."

Highlights (Plan Map)

• CL-249 Intersected 20.7 g/t Au over 11.0m (Section 1), including:

  • 49.2 g/t Au over 4.0m

• CL-252 Intersected 6.0 g/t Au over 8.0m, including:

  • 18.3 g/t Au over 2.0m

• CL-251 Intersected 7.6 g/t Au over 3.0m, including:

  • 21.0 g/t Au over 1.0m

Drilling Strengthens Continuity in Northeastern Southwest Deposit

The seven drill holes reported in this release targeted the northeastern portion of the Southwest Deposit, specifically within the GMZ and Adrian Zones. Drilling was designed to improve continuity of high-grade mineralization in an important area of the deposit while advancing Galway's understanding of the controls influencing gold mineralization in the GMZ and Adrian Zones.

Drill holes CL-249, CL-250, and CL-251, completed on approximately 25-meter centers, successfully intersected high-grade gold mineralization and identified a secondary mineralized zone at slightly greater depth near the interpreted margin of the mineralized trend. Notably, hole CL-249 returned 20.7 g/t Au over 11.0 meters, including 49.2 g/t Au over 4.0 meters starting at 126.0 meters.

Hole CL-252, drilled on the same section at approximately 50-meter spacing below holes CL-249, CL-250, and CL-251, successfully intersected strong mineralization and demonstrated continuity between the shallower high-grade zones and previously reported drilling at depth.

Additional drill holes CL-246 and CL-248 were drilled to the southeast to test a conceptual fold limb and/or potential vertically oriented mineralized zone. While these holes did not return significant assay results, the information gained from this drilling will help refine Galway's geological interpretation and future targeting in the area.

For a complete list of Southwest Deposit assays reported in this press release, please refer to the Assay and Coordinate Table.

Geology and Mineralization

Gold-antimony mineralization at Clarence Stream is structurally controlled and associated with quartz veins and quartz stockwork developed within brittle-ductile fault zones hosted in both intrusive and metasedimentary rocks. Mineralization is associated with pyrite, base-metal sulphides, and stibnite, along with anomalous concentrations of bismuth, arsenic, antimony, and tungsten. Alteration within host rocks is typically confined to a few metres surrounding quartz veins and is characterized primarily by sericitization and chloritization. A more detailed description of the Clarence Stream geology and mineralization is available at www.galwaymetalsinc.com.

Review by Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Jesse Fisher, P.Geo., Project Manager for Clarence Stream and a Qualified Person as defined by National Instrument 43-101. Mr. Fisher certifies that this news release fairly and accurately reflects the technical information and data presented. Galway Metals conducts its exploration activities in accordance with CIM Best Practices Guidelines.

Quality Control and Reports

All core, chip/boulder samples, and soil samples are assayed by Activation Laboratories, located at 41 Bittern Street, Ancaster, Ontario, Canada, Agat Laboratories, located at 5623 McAdam Road, Mississauga Ontario, Canada L4Z 1N9 and 35 General Aviation Road, Timmins, ON P4P 7C3, and/or Swastika Laboratories situated in Swastika, ON. All four labs have ISO/IEC 17025 accreditation. All core is under watch from the drill site to the core processing facility. Drill core is NQ size and sample intervals range from 0.5 meters to 1.5 meters in length. 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 Galway Metals Inc.

Galway Metals is a Canadian mineral exploration and development company focused on advancing its 100%-owned, high-grade, open-pitable flagship Clarence Stream gold project in southwest New Brunswick. Clarence Stream is an emerging gold district with an exploration strike length of approximately 65 kilometres and widths of up to 28 kilometres in certain areas. Galway Metals holds a 90% participating interest in the Estrades Project, a former producing high-grade, gold-rich polymetallic VMS mine in the northern Abitibi of western Québec. DOWA METALS & MINING CO., LTD. ("DOWA") holds a 10% participating interest pursuant to the previously announced Option and Joint Venture Term Sheet under which DOWA may earn up to a 45% interest in the Project. Led by a management team with a proven track-record of creating shareholder value having sold Galway Resources for US$340 million, Galway Metals is focused on creating value for all its stakeholders.

For additional Information on Galway Metals Inc., Please contact:

Robert Hinchcliffe President & Chief Executive Officer
Telephone: 1-800-771-0680
Email: [email protected]
Website: www.galwaymetalsinc.com
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Cautionary Statement

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This News Release includes certain "forward-looking statements" and "forward-looking information" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, information with respect to the OTCQB listing, DTC eligibility, and broadening U.S. institutional and retail investors.

Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in economic conditions or financial markets, political and competitive developments, operation or exploration difficulties, changes in equity markets, changes in exchange rates, fluctuations in commodity prices capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development, and those risks set out in the Company's public documents filed on SEDAR+ at sedarplus.ca. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Galway Metals Inc.

View the original press release on ACCESS Newswire

J.Oliveira--AMWN