American Marconi Wireless News - Galway Metals Continues to Demonstrate Broad Gold Mineralization at Southwest Deposit; 2.0 g/t Gold Over 68.0 Metres

Rob Hinchcliffe, President and CEO, commented "These latest results continue to demonstrate the impressive widths and continuity of gold mineralization within the Southwest Deposit. BL-328 is particularly encouraging, returning 2.0 g/t gold over 68.0 metres followed just seven metres later by another 52-metre interval grading 1.0 g/t gold. Together with the multiple mineralized zones intersected in the deeper BL-311 hole, these results demonstrate that the mineralized system continues to depth. As we advance the Clarence Stream PEA, our drilling program remains focused on increasing confidence in the existing resource while continuing to test the extent of mineralization within and beyond the current resource model."

Highlights (Plan Map)

• BL-328 intersected 2.0 g/t Au over 68.0m (section 1)

  • Including 54.4 g/t Au over 1.0m, 9.4 g/t Au over 1.0m and 8.7 g/t Au over 1.0m

  • Additional intercept of 1.0 g/t Au over 52.0m, beginning only 7.0 metres below the 68.0m interval.

• BL-311 intersected 3.3 g/t Au over 23.0m

  • Including 56.2 g/t Au over 1.0m and 5.5 g/t Au over 1.0m

  • Additional intercepts of 6.3 g/t Au over 5.0m including 24.7 g/t Au over 1.0m, 9.0 g/t Au over 3.0m including 26.6 g/t Au over 1.0m, 1.5 g/t Au over 12.0m and 1.6 g/t Au over 11.0m

• BL-329 intersected 3.2 g/t Au over 11.0m

  • Including 17.0 g/t Au over 1.0m and 14.7 g/t Au over 1.0m

• BL-294 intersected 2.3 g/t Au over 16.0m (Section 2)

  • Including 9.2 g/t Au over 3.0m and 4.1 g/t Au over 1.0m

Continuity of Mineralization at the Southwest Deposit

The latest drilling at the Southwest Deposit continues to demonstrate broad and continuous zones of gold mineralization while increasing drill density within the current Mineral Resource and testing mineralization beyond existing resource blocks and at depth. Infill drilling is being completed at approximately 25-metre spacing to increase geological confidence within the current Mineral Resource, while expansion drilling is testing mineralization outside the current resource block model, both within and beyond the 2026 Mineral Resource pit shell.

BL-328 returned two exceptionally broad zones of gold mineralization, intersecting 2.0 g/t Au over 68.0 metres followed, after only 7.0 metres, by a second interval grading 1.0 g/t Au over 52.0 metres. The hole tested an area containing both modeled mineralization and gaps between existing resource blocks, with the broad intervals demonstrating strong continuity through this portion of the Southwest Deposit.

On the same section, BL-329 intersected 3.2 g/t Au over 11.0 metres in the shallower portion of the mineralized system, while the deeper BL-311 intersected multiple zones of gold mineralization, including 3.3 g/t Au over 23.0 metres, 6.3 g/t Au over 5.0 metres, 9.0 g/t Au over 3.0 metres, 1.5 g/t Au over 12.0 metres and 1.6 g/t Au over 11.0 metres. Collectively, the three holes demonstrate mineralization extending from the shallower portions of the Southwest Deposit to significantly greater depths and support the interpretation of a broad, multi-horizon mineralized system that continues at depth.

Elsewhere within the Southwest Deposit, BL-294 intersected 2.3 g/t Au over 16.0 metres, including 9.2 g/t Au over 3.0 metres and 4.1 g/t Au over 1.0 metre, providing additional confirmation of mineralization along strike. These results will be incorporated with ongoing drilling to further refine the geological model and evaluate opportunities for resource expansion at the Southwest Deposit.

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: 1-800-501-4808
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

D.Kaufman--AMWN