공시 • Jan 17
Galway Metals Inc. Reports Assay Results from 12 Diamond Drill Holes from the South Deposit At the Company's 100%-Owned Clarence Stream High-Grade Gold Project in New Brunswick, Canada
Galway Metals Inc. reported assay results from 12 diamond drill holes from the South Deposit at the Company's 100%-owned 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 MRE contains an antimony resource in addition to gold. "High-grade gold intercepts near the margin of current resource pit models show there is an enormous potential to expend these deposits along strike and at depth, as well as to enhance the gold continuity within the current resource pits. Galway drilled holes CS-397, 398, 399, 400, and 413 to test mineralization at depth below the known resource pits and between historical drilling intercepts. All five of those holes intersected mineralization, which will connect zones with deep spaced holes down dip (section 2). Drilling in 2025 is planned to follow up on 2024 drilling and target addition high-grade zones that fall within and near the margins of the current resource. For the complete assay and collar location for the reported assays. On August 14, China announced export restrictions on antimony, following previous restrictions in place on Rare Earth Elements (REE's). Antimony is classified as a critical mineral in many countries including the United States, European Union, and China and is used to create flame-retardant minerals, military defence equipment and battery technology. Clarence Stream contains one of the largest antimony resources in New Brunswick, with a 2022 Mineral Resource Estimate (Link to Resource) of antimony having 9,605 t of indicated resource and 2,145 t of inferred resource. The antimony resource at Clarence Stream is currently contained within the South and North Deposits. In 2025 Galway is planning on drilling both deposits to expand mineralization outside of the known resource pits shells as well as increasing the gold ounces contained within these pit shells, this work will mostly likely increase the antimony resource contained within these deposits. Alteration in the host rocks is confined within a few metres of quartz veins and occurs mainly in the form of sericitization and chloritization. A more complete description of Clarence Stream's geology and mineralization can be found at . New Brunswick Junior Mining Assistance Program: Galway would like to acknowledge financial support from the New Brunswick Junior Mining Assistance Program, which will contribute up to $50,000 towards exploration drilling in 2024. Review by Qualified Person: Jesse Fisher, P.Geo., Project Manager 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 Inc. Quality Control and Reports: 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, Agat Labs, located at 5623 Mc Adam Road, Mississauga Ontario, Ontario, Canada, Ag at Laboratories, located at 5623 General Aviation 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. All samples are assayed for gold by Fire Assay, with gravimetric finish, and other elements assayed using ICP. Core recovery in the mineralized zones has averaged 99.