Business
Galway Metals Intersects 29.1 g/t Gold over 4.0m; Including 68.2 g/t over 1.5m at the South Deposit
TORONTO, ON / ACCESSWIRE / December 2, 2024 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) (the "C...
About this update from Galway Metals, Inc.
[{"type":"text","content":"Galway Metals Intersects 29.1 g/t Gold over 4.0m; Including 68.2 g/t over 1.5m at the South Deposit TORONTO, ON / ACCESSWIRE / December 2, 2024 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) (the \"Company\" or \"Galway\") is pleased to report assay results from 11 diamond drill holes from the South Deposit 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 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.\"The drill results confirm high-grade gold continuity at depth in the South deposit and we believe expanding this deposit is a top priority because it will most likely be the Clarence Stream starter pit. Expect the remaining South Deposit assays to be released in the coming weeks.\" states Rob Hinchcliffe, President and CEO of Galway. He adds \"Follow up drilling at the Southwest deposit has intersected two visible gold zones, which will extend mineralization at least 140 metres towards the north. We will have a dedicated rig expanding the Southwest deposit all winter and expect these assays to be released in early 2025.\"HighlightsCS-407 intersected 29.1 g/t gold over 4.0 metres including 68.2 g/t gold over 1.5 metres: Cross SectionCS-401 intersected 2.0 g/t gold over 8.0 metres including 5.9 g/t gold over 2.0 metresCS-403 intersected 2.6 g/t gold over 5.0 metres including 10.0 g/t gold over 0.65 metresGold Continuity Confirmed Below Known South Deposit ResourceThe drill holes in this release are located on the eastern side of the South Deposit (Figure 1), with the goal of increasing the resource at depth and along strike. All the drill holes intersected the mineralized structure including the high-grade intercept from CS-407 (Coordinate and Intercept). Drill hole CS-404 was abandoned before target depth due to bad ground and redrilled with hole CS-405. Assays are pending for 13 holes on the Western side of the South Deposit (Figure 2), including the VG zone from CS-414. The...