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First Pass Gold Recoveries Reach 88% at SW Deposit, Clarence Stream Gold Deposit
TORONTO, ON / ACCESS Newswire / February 18, 2025 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF)...
About this update from Galway Metals, Inc.
[{"type":"text","content":"First Pass Gold Recoveries Reach 88% at SW Deposit, Clarence Stream Gold DepositTORONTO, ON / ACCESS Newswire / February 18, 2025 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) (the \"Company\" or \"Galway\") is pleased to report metallurgical results from 4 PQ diamond drill holes from the Southwest, South and North Deposits at the Company's 100%-owned flagship Clarence Stream high-grade gold project in New Brunswick, Canada. The Clarence Stream Gold Project has district-scale potential with approximately 65-kilometre strike length of highly prospective gold showings and anomalies; and a 2022 MRE of 12.4 Mt @ 2.3 g/t Au Indicated for 922,000 oz., and 16.0 Mt @ 2.6 g/t Au Inferred for 1.334 M oz. gold (at $1650 Au price) from the NI 43-101 technical report titled \"Technical Report on the Clarence Stream Mineral Resource Project, New Brunswick, Canada\" dated March 31, 2022, by SLR Consulting Ltd.\"We are thrilled to see gold recoveries reaching up to 88% at the SW Deposit, which comprises 70% of the total gold ounces found at Clarence Stream. Advancing metallurgical test work is a crucial step in de-risking and improving the future economics of the Clarence Stream Gold Project \"comments Rob Hinchliffe, President and CEO of Galway. He adds \"The SW Deposit represents the lions share of the new gold discovered by Galway since acquiring the Clarence Stream gold project in 2016. More specifically, several new discoveries were initially made, expanded on, and have been combined to form one large, mineralized zone through extensive drilling.\"He further adds \"With respect to drilling, we are excited to point out we just added a second drill rig that will be targeting shallow areas to expand ounces in the North Deposit. One rig has been drilling certain areas in SW Deposit. We are hoping to get a third rig in April that will target new discoveries. Lastly, the idea is do an updated resource in early 2026.\"Studies to Target Antimony RecoveriesOngoing metallurgical work is underway to optimize gold recoveries and capture a highly strategic antimony bi-product, which has surged over 300% in price in recent months to US$15.00 per pound. This is particularly significant as Clarence Stream contains over 25 million pounds of antimony.Advances in project metallurgical definition include a hybrid processing strategy developed during 2024 which...