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Galway Metals Clarifies Referral to Clarence Stream Resource, and Estrades Resource, Both of Which Remain Unchanged
TORONTO, ON / ACCESSWIRE / March 19, 2019 / Galway Metals Inc. (TSX-V: GWM) (the "Company" o...
About this update from Galway Metals, Inc.
[{"type":"text","content":"Galway Metals Clarifies Referral to Clarence Stream Resource, and Estrades Resource, Both of Which Remain UnchangedTORONTO, ON / ACCESSWIRE / March 19, 2019 / Galway Metals Inc. (TSX-V: GWM) (the \"Company\" or \"Galway\") reports that, as a result of a review by the Ontario Securities Commission, this press release is being issued to clarify disclosure in the Company's January 23, 2019 press release regarding the Clarence Stream NI 43-101 resource estimate, and to note that the Estrades NI 43-101 technical report has been amended to more clearly note metallurgical recoveries and cost assumptions to arrive at the C$140/tonne NSR cutoff value, and refiled on SEDAR. No changes to either the Clarence Stream or Estrades resource estimates have been made. The January 23, 2019 press release on Clarence Stream disclosed gold resources as having ounces of gold and grade without also disclosing tonnage, contrary to NI 43-101 s. 2.2 (d) and 3.4 (b). Moreover, the linked resource statement did not form part of the document filed on SEDAR. The Company is also clearly defining the amount of antimony resources in the South and North Zones, as antimony exists as a subset within the gold resource in each zone. As a result, Galway is providing the following disclosure:On September 26, 2017, Galway issued a resource update on the South and North Zones at Clarence Stream, prepared by SRK Consulting (U.S.) Inc., with total Measured and Indicated resources of 6.178 mm tonnes grading 2.0 g/t, representing 390,000 oz of gold and additional Inferred resources of 3.409 mm tonnes grading 2.5 g/t, representing 277,000 oz of gold, in addition to Inferred antimony resources of 2.736 mm tonnes grading 0.37%, representing 22.0 mm lbs of antimony. Antimony resources are fully contained within gold resources in the South Zone (1.583 mm tonnes grading 0.27%, representing 9.3 mm lbs) and the North Zone (1.153 mm tonnes grading 0.5%, representing 12.7 mm lbs), and are a subset of each zone. For complete details, refer to: \"NI 43-101 Technical Report on Resources, Clarence Stream Gold Project, Charlotte County, New Brunswick, Canada\" with an effective date of August 21, 2017, and \"NI 43-101 Technical Report on the Mineral Resource Estimate for the Estrades Project, Northwestern Quebec, Canada\" dated November 5, 2018 with an amended date of March 15, 2019, avail...