お知らせ • Jul 14
Galway Metals Updates Clarence Stream Mineral Resource Estimate
Galway Metals announced an updated Mineral Resource Estimate (MRE) for its 100%-owned Clarence Stream Gold Project in southwest New Brunswick. The updated MRE reports Indicated Mineral Resources of 27,201,000 tonnes grading 1.62 g/t Au containing 1,416,000 ounces of gold and Inferred Mineral Resources of 28,538,000 tonnes grading 1.40 g/t Au containing 1,288,000 ounces of gold. The updated estimate also includes approximately 19,500 tonnes of contained antimony in the Indicated category and 3,100 tonnes in the Inferred category, representing increases of approximately 103% and 45%, respectively, compared to the 2022 Mineral Resource Estimate. Approximately half of the contained Indicated gold ounces occur at grades above 3.0 g/t Au, underscoring the quality of the updated resource and its potential to support future development. The North, South and Southwest Deposits remain open for expansion through ongoing drilling, while the broader 65-kilometre Clarence Stream district continues to provide significant discovery potential. With four drill rigs currently operating as part of a planned 40,000-metre 2026 drill program, Galway is positioned to continue expanding and upgrading the Mineral Resource, make new discoveries across the 65-kilometre district, and advance Clarence Stream through future economic studies. The next milestone for Clarence Stream is the Preliminary Economic Assessment (PEA). The updated Mineral Resource Estimate incorporates results from approximately 340 diamond drill holes totalling approximately 70,000 metres completed since the 2022 Mineral Resource Estimate. The updated estimate reflects a significant increase in resource confidence and incorporates revised geological interpretations and resource modelling for the North, South and Southwest Deposits. The updated Mineral Resource contains a substantial higher-grade component, with approximately 50% of contained Indicated gold ounces occurring at grades above 3.0 g/t Au, including approximately 35% occurring at grades above 5.0 g/t Au. Open-pit Mineral Resources demonstrate relatively consistent contained ounces and average grades across a broad range of long-term gold price assumptions, highlighting the robustness of the Mineral Resource under varying gold price scenarios. The updated MRE includes open-pit Mineral Resources of 1,356,000 ounces of gold in the Indicated category and 1,017,000 ounces of gold in the Inferred category. Underground Mineral Resources total 60,000 ounces of gold in the Indicated category and 271,000 ounces of gold in the Inferred category. Approximately 96% of the contained gold ounces within the Indicated Mineral Resource are constrained within optimized open-pit shells across the North, South and Southwest deposits. The updated MRE is centred on the established North, South and Southwest Deposits, each of which remains open for expansion through continued drilling. While exploration to date has largely focused on defining near-surface mineralization suitable for open-pit extraction, significant opportunities remain to evaluate extensions of the deposits both along strike and at depth. At the North Deposit, drilling completed since the 2022 Mineral Resource Estimate has extended mineralization beyond the limits of the previous pit-constrained resource, including within the northern extension area located approximately 430 metres north of the 2022 pit shell. Recent drilling has also identified opportunities to further evaluate mineralization between previously modelled zones and along the western portion of the deposit. The South and Southwest Deposits remain important targets for future resource growth and conversion. The Southwest Deposit is characterized by broad zones of gold mineralization with potential for bulk-tonnage development scenarios, while the South Deposit contains higher-grade vein-hosted mineralization that remains prospective for additional expansion at depth. Beyond the established deposits, Galway controls an approximately 65-kilometre prospective gold trend containing numerous gold showings, geochemical anomalies and untested exploration targets, providing potential opportunities for future discoveries across the broader Clarence Stream district. Four diamond drill rigs are currently operating at Clarence Stream as part of the Company's approximately 40,000 metre 2026 drill program. Two rigs are focused on resource expansion and infill drilling around the North, South and Southwest Deposits, while two additional rigs are testing regional and near-deposit exploration targets with the objective of making new discoveries across the broader Clarence Stream district. In addition to the ongoing drill program, Galway's next phase of work at Clarence Stream is expected to include the following activities: Expansion and delineation drilling at the North, South and Southwest Deposits to support further resource growth, resource conversion and refinement of the geological model; Additional metallurgical test work to further evaluate gold recovery, processing characteristics and potential optimization opportunities across the established deposits; Waste rock characterization studies to support mine planning, environmental assessment and future project design; Geotechnical drilling and engineering studies to support future pit design, infrastructure planning and development evaluations; Continued evaluation of development scenarios utilizing the updated Mineral Resource Estimate and supporting technical studies; Evaluation of a Preliminary Economic Assessment (PEA); and Continued district-scale exploration across Galway's approximately 65-kilometre prospective gold trend, including follow-up work on regional exploration targets.