Mr. Robert Hinchcliffe reports
GALWAY METALS GAP DRILLING INTERSECTS 1.3 G/T AU OVER 41.15M AND 18.8 G/T AU OVER 6.0M, CLOSING GAP BETWEEN GMZ AND RICHARD ZONES
Galway Metals Inc. has released full and partial assay results from numerous drill holes in the centre of, and along either side of, the remaining 400-metre gap between the Richard and George Murphy zones (GMZ) at the company's Clarence Stream gold project in southwestern New Brunswick, Canada.
Highlights in the centre of the 400 m gap include:
Hole 189: 1.3 grams per tonne Au over 41.15 metres, including 9.3 g/t Au over 1.0 m, 3.9 g/t Au over 1.0 m, 3.9 g/t Au over 1.0 m and 4.0 g/t Au over 0.85 m, starting at a vertical depth of 199 m;Hole 185: 1.4 g/t Au over 13.5 m, including 8.5 g/t Au over 1.0 m, and 6.4 g/t Au over 1.0 m, plus 1.2 g/t Au over 9.0 m, including 7.0 g/t Au over 1.0 m, plus 0.8 g/t Au over 13.0 m, including 4.8 g/t Au over 1.0 m, plus 1.3 g/t Au over 5.0 m, including 4.4 g/t Au over 0.5 m, plus 1.0 g/t Au over 5.0 m, starting at vertical depths of 227 m, 85 m, 192 m, 29 m and 170 m, respectively.
"Galway has now essentially connected a total of three kilometres of mineralization comprising the Adrian, GMZ, Richard and Jubilee zones. These zones, as well as the South and North zones, remain open for expansion, have great grade and continuity and will be included in the upcoming resource estimate update slated for December, 2021," said Robert Hinchcliffe, president and chief executive officer of Galway Metals. "With the gold markets seemingly gaining traction, we look forward to an exciting 2022 where our drilling program will be focused on making new discoveries, following up on recent discoveries and expanding existing zones. In short, we remain optimistic as results continue to demonstrate that Clarence Stream is an important new gold district in North America."
Highlights along the west edge of the gap include:
Hole 186: 18.8 g/t Au over 6.0 m, including 85.3 g/t Au over 1.0 m, plus 1.5 g/t Au over 8.5 m, including 3.3 g/t Au over 1.5 m, starting at vertical depths of 49 m and 73 m, respectively;Hole 171: 2.0 g/t Au over 17.6 m, including 10.3 g/t Au over 1.0 m, 8.9 g/t Au over 1.0 m, and 5.4 g/t Au over 1.0 m, plus 1.7 g/t Au over 10.0 m, including 21.7 g/t Au over 0.5 m, starting at vertical depths of 68 m and 40 m, respectively;Hole 168: 14.8 g/t Au over 2.1 m, including 50.4 g/t Au over 0.6 m plus 2.8 g/t Au over 4.25 m, including 9.9 g/t Au over 1.0 m, starting at vertical depths of 414 m and 372 m, respectively;Hole 160: 0.9 g/t Au over 19.0 m, including 2.6 g/t Au over 1.0 m, starting at a vertical depth of 124 m;Hole 149: 1.5 g/t Au over 7.7 m, including 9.5 g/t Au over 0.5 m, starting at a vertical depth of 72 m;Hole 145A: 8.0 g/t Au over 2.3 m, including 18.4 g/t Au over 0.8 m, plus 3.8 g/t Au over 2.9 m, including 7.8 g/t Au over 0.65 m, starting at vertical depths of 373 m and 381 m, respectively;Hole 142: 70.6 g/t Au over 1.0 m, starting at a vertical depth of 162 m;Hole 89: 3.2 g/t Au over 6.0 m, including 12.4 g/t Au over 1.0 m, starting at a vertical depth of 53 m.
Highlights along the east edge of the gap include:
Hole 104: 12.2 g/t Au over 2.2 m, including 27.4 g/t Au over 0.9 m, starting at a vertical depth of 44 m.
An additional six holes with assays pending were drilled in the 400 m gap between the GMZ and Richard zones. All veins appear to be subparallel to the granite to the north and mimics its dip at about 60 to 65 degrees. In general, the better results to date are from steeper holes.
Intersects show excellent continuity
The 1.3 g/t Au over 41.15 metres in the 400 m gap is thought to correlate with several other intersections, as follows:
A new intersection of 1.4 g/t Au over 13.5 m (hole 185) located 120 m to the west;A previously reported intersection of 10.0 g/t Au over 3.0 m (hole 133) located 282 m to the west;A new intersection of 12.2 g/t Au over 2.2 m (hole 104) located 125 m to the east;Two other new intersections may also correlate -- 14.8 g/t Au over 2.1 m, including 50.4 g/t Au over 0.6 m (hole 168), and 8.0 g/t Au over 2.3 m, including 18.4 g/t Au over 0.8 m (hole 145A), located at 344 m and 357 m, respectively, along strike (horizontally) to the west of 1.3 g/t Au over 41.15 metres.
The intercept of 2.0 g/t Au over 17.6 m (hole 171) and the intercept of 18.8 g/t Au over 6.0 m, including 85.3 g/t Au over 1.0 m (hole 186), are new intersections located 34 m and 68 m east, respectively, of a previously released intersection of 2.2 g/t Au over 15.5 m (hole 133).
ASSAY RESULTSHole ID From To Intercept TW Au (m)(m) (m)(m)(g/t)GWM19BL-40no significant assaysGWM20BL-86 42.5543.100.550.55.8** 66.2572.556.305.71.0**Including69.2569.950.700.65.4** 75.2076.100.900.80.6** 89.0090.001.000.90.9** 92.6093.801.201.10.8**104.00 105.301.301.20.5**119.60 120.200.600.50.6129.00 129.600.600.50.7181.00 181.950.950.91.0**201.00 203.202.202.01.2**256.20 256.800.600.50.5**440.85 444.153.303.00.5**including 440.85 441.400.550.5 1.4 V.G.**GWM20BL-89 56.0062.006.00 3.2including59.0060.001.0012.4 67.0069.002.00 1.0 72.0073.001.00 1.1 90.0093.003.00 0.6108.00 109.001.00 0.6111.00 111.800.80 0.6114.00 116.002.00 0.6127.00 128.001.00 0.6129.00 131.002.00 1.0160.00 162.002.00 0.7178.00 182.004.00 1.2GWM20BL-10461.3063.502.2012.2including61.3062.200.9027.4 70.5073.002.50 1.3230.00 232.302.30 0.9including 231.65 232.300.65 2.1391.25 392.150.90 8.0414.00 414.550.55 3.9GWM20BL-11766.0067.001.00 2.4** 90.9092.001.10 0.5**121.00 124.103.10 1.0**including 122.00 122.500.50 2.4**142.00 143.501.50 1.7**185.00 186.001.00 0.8189.00 190.001.00 0.8**GWM20BL-11943.0044.001.00 0.4** 46.0047.001.00 0.6** 67.5070.002.50 0.6** 76.0079.003.00 0.8** 82.0083.501.50 0.5**108.95 110.001.05 7.5**238.00 239.001.00 0.9302.00 312.00 pending334.00 335.001.00 0.6GWM20BL-13072.00 102.00 30.00 13.20.6**including73.0074.001.000.45.3** 95.5097.001.500.71.3**113.50 114.501.000.40.7**117.00 118.001.000.40.4**132.00 149.00 17.007.50.5**including 132.00 133.001.000.41.4**including 141.00 142.001.000.41.6**149.00 164.00 15.006.60.2239.00 240.001.000.40.4241.00 242.001.000.41.2383.00 384.501.500.71.0 ***388.00 388.500.500.21.1 ***430.00 431.001.100.5 75.9433.00 435.002.000.91.7 ***476.00 501.00 25.00 11.01.3 ***including 479.00 479.650.650.3 18.5**including 497.80 498.300.500.24.4**GWM20BL-13359.0067.658.657.53.0including59.0060.001.000.9 21.7118.00 121.503.503.01.4137.00 138.001.000.91.3**139.00 140.001.000.90.6**150.50 157.006.505.69.5**including 153.00 154.001.000.9 27.2**157.00 174.00 Pending175.50 191.00 15.50 13.42.2**including 175.50 176.200.700.6 30.2**203.00 204.501.501.30.5**260.00 284.00 pending328.00 331.003.002.6 10.0**including 330.00 331.001.000.9 18.7**337.00 353.00 pendingGWM20BL-13667.0068.001.000.63.5208.00 209.001.000.62.3231.00 231.500.500.30.7245.00 291.00 pending291.00 295.004.002.3 19.5**including 294.00 295.001.000.6 51.5**303.00 321.00 pending324.00 344.50 pending386.50 389.503.001.70.7GWM20BL-137 139.00 140.001.000.54.3188.00 189.001.000.52.1449.50 451.001.500.70.5452.00 453.001.000.51.7GWM20BL-140 352.00 356.504.502.90.8394.25 396.001.751.11.9405.00 406.501.501.00.8GWM21BL-14273.0075.002.001.33.0172.00 173.001.000.6 70.6233.00 235.002.001.30.7GWM21BL-145A120.20 121.000.800.40.6130.50 132.001.500.81.4148.50 151.002.501.21.1190.00 191.001.000.50.7208.00 209.001.000.50.6218.00 219.001.000.50.4232.00 234.002.001.01.2380.00 382.302.301.18.0including 381.00 381.800.800.4 18.4387.60 390.502.901.43.8including 387.60 388.250.650.37.8GWM21BL-149 102.28 109.957.677.01.5including 102.28 102.780.500.59.5121.00 122.001.000.90.5123.90 124.500.600.54.7157.00 159.002.001.80.6161.05 162.000.950.90.5219.00 220.501.501.40.9257.50 258.000.500.50.8272.65 273.500.850.80.5275.00 276.001.000.90.8276.50 277.000.500.50.5294.00 295.501.501.40.4311.50 312.000.500.50.9327.00 327.500.500.52.8GWM21BL-151 198.75 199.751.00 0.8244.00 244.500.50 0.8247.50 248.000.50 0.5249.00 249.500.50 0.5416.00 418.002.00 0.9GWM21BL-158 100.00 101.001.00 0.6GWM21BL-16091.0092.001.00 1.7142.00 161.00 19.00 0.9including 160.00 161.001.00 2.6185.00 186.001.00 2.0231.00 235.004.00 0.7295.00 296.001.00 0.5GWM21BL-16675.5076.000.500.42.6109.50 111.001.501.24.8121.50 124.503.002.43.0135.70 136.300.600.50.6139.50 141.001.501.20.6143.50 144.000.500.40.7298.50 299.751.251.00.8GWM21BL-16870.0078.008.006.30.7including70.0071.001.000.53.2126.00 127.001.000.50.5145.00 148.003.001.41.3150.00 151.001.000.50.5242.00 249.007.003.22.6including 242.00 243.001.000.5 14.3258.00 259.001.000.50.7379.75 384.004.251.92.8including 381.00 382.001.000.59.9431.90 434.002.101.0 14.8including 431.90 432.500.600.3 50.4446.00 447.001.000.57.7499.00 500.001.000.52.8501.00 501.700.700.32.3GWM21BL-17144.0054.00 10.009.21.7including45.0045.500.500.5 21.7 75.0076.001.000.71.2 80.0081.501.501.01.7 90.0091.501.501.00.6 92.40 110.00 17.60 12.02.0including93.0094.001.000.7 10.3including 104.00 105.001.000.75.4including 109.00 110.001.000.78.9186.00 187.001.000.70.7198.00 199.001.000.70.8GWM21BL-17543.0045.002.00 0.6 93.00 253.00 pending259.70 260.200.50 0.6GWM21BL-17839.0040.001.00 1.9 82.8083.600.80 0.9106.00 107.001.00 3.9201.00 202.001.00 0.5224.50 226.001.50 0.6333.50 334.300.80 0.5GWM21BL-18114.5015.000.50 0.4 40.00 130.75 pending171.00 172.001.00 0.7188.00 237.50 pendingGWM21BL-18314.0022.008.00 1.0including15.0015.500.50 2.6 87.0088.001.0012.9including87.5088.000.5024.7172.50 287.00 pendingGWM21BL-18530.0035.005.00 1.3including31.0032.001.00 3.1including34.5035.000.50 4.4 70.0073.003.00 0.7 85.0086.501.50 0.8 89.0098.009.00 1.2including91.0092.001.00 7.0129.50 132.002.50 1.2166.00 166.500.50 3.8178.00 183.005.00 1.0201.00 214.00 13.00 0.8including 202.50 204.001.50 2.4including 213.00 214.001.00 4.8238.50 252.00 13.50 1.4including 242.00 243.001.00 6.4including 251.00 252.001.00 8.5327.00 337.50 pending355.00 386.00 pendingGWM21BL-18632.0033.001.00 0.4 72.0078.006.0018.8including73.0074.001.0085.3 99.50 101.001.50 0.5107.00 115.508.50 1.5including 110.00 111.501.50 3.3121.50 332.00 pendingGWM21BL-18912.00 151.00 pending197.50 200.503.00 0.8208.00 208.85 pending208.85 250.00 41.15 1.3including 213.50 214.501.00 3.9221.00 222.00 pendingincluding 225.00 226.001.00 3.9including 247.50 248.350.85 4.0including 249.00 250.001.00 9.3262.50 264.001.50 0.5268.50 270.001.50 0.8270.00 372.00 pending** These results were previously reported.* The intersection used 0.42 g/t Au for the bottom cut-off as per pit-constrained resources but is at likely too much depth. Shown to indicate scope of mineralization;true widths are unknown if not noted; 0.42 g/t Au was used for the bottom cut-off.
New Brunswick junior mining assistance program
Galway would like to acknowledge financial support from the New Brunswick junior mining assistance program, which partially funded drilling of the GMZ, Jubilee and Richard zones.
Geology and mineralization
The discovery of the Richard zone in hole 12 contains elevated levels of bismuth, arsenopyrite and antimony, in multiple quartz veins, with tungsten in the vicinity. This is similar to other Clarence Stream deposits, which can be characterized as intrusion-related, quartz-vein-hosted gold deposits. Richard zone contains multiple zones of quartz veining with sulphides and sericite alteration. In general, mineralization at Clarence Stream consists of 10 per cent to 70 per cent quartz stockworks and veins with 1 per cent to 5 per cent fine pyrite plus pyrrhotite plus arsenopyrite plus stibnite in sericite-altered sediments. The Jubilee mineralization consists of 2 per cent to 5 per cent disseminated pyrite, sphalerite, galena, arsenopyrite, chalcopyrite and pyrrhotite in sediments with white to smoky grey quartz veining. Locally there is up to 10 per cent sphalerite and semi-massive galena veinlets. The 2.5-kilometre trend that hosts the GMZ, Richard and Jubilee zones contains a mineralized mafic intrusive locally, similar to the South zone, which currently hosts most of the property's last reported gold resources (September, 2017). A more complete description of Clarence Stream's geology and mineralization can be found on the Galway Metals website.
Review by qualified person, quality control and reports
Michael Sutton, PGeo, director and vice-president of exploration, for Galway Metals, is the qualified person who supervised the preparation of the scientific and technical disclosure in this news release on behalf of Galway Metals. All core, chip/boulder samples and soil samples are assayed by Activation Laboratories, 41 Bittern St., Ancaster, Ont., Canada, which has ISO/IEC 17025 accreditation. All core is under watch from the drill site to the core processing facility. 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 5 per cent 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 per cent.
About Galway Metals Inc
Galway Metals is well capitalized with two gold projects in Canada, Clarence Stream, an emerging gold district in New Brunswick, and Estrades, the formerly producing, high-grade, volcanogenic massive sulphide mine in Quebec. The company began trading on Jan. 4, 2013, after the successful spinout to existing shareholders from Galway Resources following the completion of the $340-million (U.S.) sale of that company. With substantially the same management team and board of directors, Galway Metals is keenly intent on creating similar value as it had with Galway Resources.
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