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Galway Metals Reports Assay Results from 34 Diamond Drill Holes At North Deposit Within Clarence Stream Gold Project
Galway Metals reported assay results from 34 diamond drill holes at the North Deposit within its 100%-owned Clarence Stream high-grade gold project in New Brunswick, Canada. The Clarence Stream Gold Project hosts district-scale potential along an approximately 65-kilometre trend of highly prospective gold showings and anomalies. The Project currently hosts a 2022 Mineral Resource Estimate of 12.4 Mt grading 2.3% Au in the Indicated category (922,000 oz Au) and 16.0 Mt grading 2.6% Au in the Inferred category (1.334 million oz Au), as outlined in the NI 43-101 technical report titled "Technical Report on the Clarence Stream Mineral Resource Project, New Brunswick, Canada" dated March 31, 2022, prepared by SLR Consulting Ltd. Results such as 5.0 g/t gold over 10.85 metres in hole ND-61, along with high-grade intervals encountered farther north, continue to improve understanding of the deposit and help define targets for future drilling. ND-61 intersected 5.0 g/t Au over 10.85m (section 1), including 11.3 g/t Au over 2.0m and 10.4 g/t Au over 2.0m. ND-52 intersected 40.3 g/t Au over 1.55m (section 2), including 69.7 g/t Au over 0.85m. ND-50 intersected 2.1 g/t Au over 6.0m, including 8.7 g/t Au over 1.0m. ND-44 intersected 3.9 g/t Au over 3.0m, including 6.2 g/t Au over 1.7m. Many drill holes reported in this release were completed on approximately 25- and 50-metre centres within a northern extension of the North Deposit, located approximately 430 metres north of the current 2022 pit-constrained resource. Drilling in this area continues to intersect gold mineralization and is improving understanding of the northern continuity of the system, while also testing for potential extensions to depth and toward the west. This area was highlighted by several encouraging intercepts, including hole ND-52, which returned 40.3 g/t Au over 1.55 metres, including 69.7 g/t Au over 0.85 metres, as well as hole ND-44, which intersected 3.9 g/t Au over 3.0 metres. These results continue to demonstrate the presence of gold mineralization beyond the limits of the 2022 mineral resource estimate. Several drill holes also tested areas between the eastern and central pit-constrained zones of the North Deposit. This work was highlighted by hole ND-61, which intersected 5.0 g/t Au over 10.85 metres, supporting the interpretation that additional mineralization may occur between these previously modelled areas. Galway plans to conduct follow-up drilling at the North Deposit in 2026 to further evaluate the northern extension area and test additional targets near the western pit-constrained zone, which hosts a significant portion of the deposit's antimony 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. 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. 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%.