Galway Metals Adrian and GMZ Gaps Return 5.8 g/t Au over 55.5m, and 8.1 g/t Au over 17.5m
Back to Newsroom

Galway Metals Adrian and GMZ Gaps Return 5.8 g/t Au over 55.5m, and 8.1 g/t Au over 17.5m

Tuesday, December 7, 2021 7:00 AM
Galway Metals Inc.
http://galwaymetalsinc.com/s/home.asp

TORONTO, ON / ACCESSWIRE / December 7, 2021 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) (the "Company" or "Galway") is pleased to report drill results that expand the Adrian Zone in multiple directions, and the George Murphy Zone where the Company recently reported a 50% strike length expansion. Significant potential exists to be able to combine the GMZ with the Adrian and Richard Zones at its Clarence Stream property in southwest New Brunswick, Canada.

Adrian Zone Highlights:

  • The wide vein within the Adrian Zone was previously expanded by 44 metres (m) to the northeast with an intersect that now returns 5.8 g/t Au over 55.5m in hole CL-122 (originally reported as 38.6 g/t Au over 7.5m with assays pending; assays are still pending) from a previously-released intersect that returned 1.1 g/t Au over 78.5m in hole CL-52
  • This vein has now been expanded 192m northeast with 2.2 g/t Au over 10.7m in hole 136 from the intersect in hole CL-52
  • A deeper vein in the Adrian Zone was expanded 207m south with an intersect that returned 97.7g/t Au over 1.0m in hole CL-139 from several previously-released intersects such as 22.7 g/t Au over 3.5m (hole CL-92), 5.7 g/t Au over 25.0m (hole CL-103), and 12.9 g/t Au over 2.0m (hole CL-116)

George Murphy Zone Highlights:

  • Drilling in the George Murphy Zone (GMZ) has intersected 8.1 g/t Au over 17.5m in hole CL-136. This intersection is located 108m southwest of a previously-reported intersect in hole 109 that returned 1.7 g/t Au over 10.0m
  • These GMZ intersects are located within the 400m gap between the previous northeastern edge of the GMZ and wildcat step-out hole CL-75 that returned 9.4 g/t Au over 0.5m, which represented a 50% expansion of the GMZ to more than 1.1km
  • Most of these wide and high-grade intersections from both the GMZ and Adrian Zones are likely to fall within pit shells. For details, refer to Figure 1, Figure 2 and Figure 3

"Galway continues to receive wide and high-grade drill results that are expanding the GMZ and Adrian Zones and significantly improving the potential to combine these two pits into one. We see the same potential with the GMZ and Richard Zones where wide mineralized intersects were recently released and where additional assays are pending. We believe these pending results will contribute significantly to the ability to combine these zones, enhance the economics of the project and benefit the resource update. As a result, the resource update will be released in the first quarter rather than this month," cites Robert Hinchcliffe, President and CEO of Galway Metals, "We are pleased to see many of the holes drilled have wide intersects in both the GMZ and Adrian Zones. There are pending assays in both zones and mineralization appears to continue past the intersects being released."

Drill Highlights

  • Hole CL-122 intersected 5.8 g/t Au over 55.5m (previously reported as 38.5 g/t Au over 7.5m), which includes 151.0 g/t Au over 0.5m, 144.0 g/t Au over 0.55m, 110.0 g/t Au over 0.5m, 41.6 g/t Au over 0.5m, 21.2 g/t Au over 0.5m, 23.7 g/t Au over 0.5m, and 35.4 g/t Au over 0.5m, plus 34.0 g/t Au over 0.5m, starting at vertical depths of 176m and 226m
  • Hole CL-120 intersected 3.9 g/t Au over 17.0m (previously reported as 10.2 g/t Au Over 6.0m), including 91.2 g/t Au over 0.5m, plus 0.9g/t Au over 52.5m, including 4.0 g/t Au over 3.0m, 4.3 g/t Au over 1.0m, and 7.6 g/t Au over 0.5m, starting at vertical depths of 115m, and 169m
  • Hole CL-136 intersected 8.1 g/t Au over 17.5m, including 89.2 g/t Au over 0.5m and 88.8 g/t Au over 0.65m, plus 2.2 g/t Au over 10.7m, including 16.9 g/t Au over 0.5m, and 20.4 g/t Au over 0.5m, plus 1.0 g/t Au over 13.0m, including 7.1 g/t Au over 1.0m, starting at vertical depths of 85m, 201m, and 175m
  • Hole CL-139 intersected 97.7 g/t Au over 1.0m, including 193.0 g/t Au over 0.5m, plus 2.0 g/t Au over 7.0m, including 17.9 g/t Au over 0.5m, plus 1.0 g/t Au over 8.5m, including 2.7 g/t Au over 1.5m, starting at vertical depths of 222m, 235m, and 147m
  • Hole CL-126 intersected 1.1 g/t Au over 37.3m, including 3.6 g/t Au over 1.0m, 3.4 g/t Au over 1.0m, and 3.2 g/t Au over 1.0m, starting at a vertical depth of 150m
  • Hole CL-94 intersected 1.2 g/t Au over 34.0m, including 16.0 g/t Au over 1.0m, starting at a vertical depth of 155m
  • Hole CL-117 intersected 1.3 g/t Au over 19.5m, including 9.5 g/t Au over 1.0m, 3.3 g/t Au over 1.0m, and 3.6 g/t Au over 0.5m, starting at a vertical depth of 80m
  • Hole CL-123 intersected 11.2 g/t Au over 4.25m, including 77.7 g/t Au over 0.6, starting at a vertical depth of 133m
  • Hole CL-134 intersected 5.5 g/t Au over 4.7m, including 23.8 g/t Au over 0.5m, and 16.5 g/t Au over 0.7m, starting at a vertical depth of 179m
  • Hole CL-102 intersected 1.0 g/t Au over 24.0m, including 3.6 g/t Au over 2.5m, and 5.3 g/t Au over 1.5m, starting at a vertical depth of 139m
  • Hole CL-105 intersected 6.5 g/t Au over 3.5m, including 14.8 g/t Au over 0.5m, plus 3.9 g/t Au over 4.0m, including 12.6 g/t Au over 1.0m, plus 0.5 g/t Au over 11.5m, starting at vertical depths of 166m, 191m, and 206m
  • Hole CL-103 intersected 2.4 g/t Au over 6.0m, plus previously-released 5.7 g/t Au over 25.0m, including 20.5 g/t Au over 5.95m, starting at vertical depths of 229m and 286m
  • Hole CL-107 intersected 3.4 g/t Au over 7.0m, including 12.3 g/t Au over 1.0m, starting at a vertical depth of 297m
  • Hole CL-98 intersected 1.1 g/t Au over 11.5m, including 6.4 g/t Au over 0.5m, and 3.8 g/t Au over 1.5m, starting at a vertical depth of 165m
  • Hole CL-91 intersected 0.7 g/t Au over 21.0m, including 2.1 g/t Au over 1.5m, starting at a vertical depth of 84m
  • Hole CL-125 intersected 0.6 g/t Au over 19.0m, including 2.0 g/t Au over 1.0m, starting at a vertical depth of 172m
  • Hole CL-121 intersected 1.6 g/t Au over 10.2m, starting at a vertical depth of 185m
  • Hole CL-93 intersected 0.8 g/t Au over 15.2m, including 2.9 g/t Au over 1.0m, plus 0.5 g/t Au over 19.0m, starting at vertical depths of 190m, and 162m
  • Hole CL-101 intersected 1.0 g/t Au over 5.5m, including 3.3 g/t Au over 1.0m starting at a vertical depth of 260m
  • Hole CL-82 intersected 1.5 g/t Au over 5.05m, plus previously released 1.5 g/t Au over 14.6m, including 8.7 g/t Au over 1.05m, and 4.2 g/t Au over 0.6m, starting at vertical depths of 295m and 68m

ADRIAN INCREASES

Most of the new intersections are located down-dip from the original Adrian discovery holes where the zone appears to flatten and thicken considerably before intersecting the steeper GMZ. The 5.8 g/t Au over 55.5m intersection in hole 122 is preceded by 20%-55% quartz for 60 metres with pending assays. It is located 44m northeast of another wide intersection from hole CL-52 which returned 1.1 g/t Au over 78.5m. Going northeast from these holes, the closest intersections are 1.1 g/t Au over 37.3m in hole 126, located 78m away, but that is at a higher elevation - assays are pending for mineralized core further down where the main part of the zone should be. Hole 136 appears to have intersected the same zone, returning 2.2 g/t Au over 10.7m, located 192m northeast of the intersect in hole 52. Holes 125, 126, 144, 147, 150, 152 are pending most or all assays for this zone.

Hole 139 intersected 193.0 g/t Au over 0.5m plus 2.0 g/t Au over 7.0m, which appear to line up with a high-grade zone that has previously-reported intersections of 22.7 g/t Au over 3.5m, including 98.7 g/t Au over 0.5m (hole 92), 5.7 g/t Au over 25.0m, including 20.5 g/t Au over 5.95m (hole 103), and 12.9 g/t Au over 2.0m, including 48.2 g/t Au over 0.5m (hole 116). These intersections are located 207m to the northeast of hole 139 with numerous holes between pending assays. Hole 107 has intersected this high-grade zone, returning 3.4 g/t Au over 7.0m, located 42m southwest of hole 116.

Hole 98 intersected 1.1 g/t Au over 11.5m, which represents the furthest northeastern intersection in Adrian, located 35m east of the 12.9 g/t Au over 2.0m in hole 116 - but not in the same zone.

The intersections in holes 91 and 82 appear to line up with previously-released hole 77 (1.3 g/t Au over 35.3m, plus 0.9 g/t Au over 14.8m) and likely represent where the folded Adrian Zone comes towards surface.

GMZ INCREASES

The GMZ has been intersected in hole 136, returning 8.1 g/t Au over 17.5m. This intersection is located within the previous 400m gap between the northeastern edge of the GMZ and wildcat step-out hole 75 that returned 9.4 g/t Au over 0.5m, which represented a 50% expansion of the GMZ to more than 1.1km. The intersection in hole 136 is located 108m to the southwest of previously-reported hole CL-109 that returned 1.7 g/t Au over 10.0m. Hole 117, which returned 1.3 g/t Au over 19.5m, intersected the same zone 64m below the 1.7 g/t Au over 10.0m. Holes 121, 122, 123, 125, 126, 130, 139, and 144 are pending most assays for this zone.

The GMZ/Adrian Zones are currently more than 1.1km long with multiple structures over 388m horizontal thickness (width), and with all veins open in every direction. The Adrian Zone is north of the GMZ and is part of the same overall system that Galway has been drilling during the past 4 years that stretches 3.1km from Adrian to the GMZ, Richard and Jubilee Zones (Adrian is flat dipping whereas the latter three are steeply dipping to the south). Soil anomalies, in conjunction with glacial till and stream sediment anomalies along magnetic lows led to the discovery of all 7 known gold deposits at Clarence Stream, and the property hosts many other as of yet untested gold anomalies.

Resource will be released in the first quarter of 2022

The Clarence Stream resource update targeted for this month is now scheduled for the first quarter. Galway has in excess of 8,000 samples pending assay results at the labs. There is generally an 8-12 week delay in receiving results, and the Company would like to incorporate key pending assays into the update. A recent previously-reported intersection of 1.3 g/t Au over 41.15 metres in the 400m gap between the Richard and the GMZ came from an area with numerous holes pending all assays. This area too is key to the resource because it could combine two pits into one. Galway plans on incorporating all zones discussed in this press release, Adrian, GMZ, Richard and Jubilee, which cover a strike length of 3.1km, as well as the existing South and North Zones, into the resource update.

Table 1: Drill Result Highlights

Hole ID

From

To

Intercept

TW

Au

Zone

(m)

(m)

(m)

(m)

g/t

GWM20CL-40

73.25

83.05

9.80

6.5

1.1**

GMZ

including

75.70

76.55

0.85

4.1**

GMZ

85.60

86.60

1.00

0.6**

GMZ

92.85

96.50

3.65

1.2**

GMZ

180.40

188.90

5.90

4.0

0.7**

GMZ

including

185.25

186.00

0.75

0.50

2.5**

GMZ

197.00

197.95

0.95

0.6**

GMZ

GWM20CL-48

66.50

68.00

1.50

0.4

Adrian

GWM20CL-52

100.50

102.00

1.50

1.6 **

Adrian

148.00

149.50

1.50

1.2**

Adrian

173.00

174.50

1.50

5.9**

Adrian

177.50

179.00

1.50

2.3**

Adrian

189.50

231.00

41.50

1.3 **

Adrian

152.50

231.00

78.50

76.10

1.1**

Adrian

including

191.00

197.00

6.00

5.80

4.7 **

Adrian

including

204.00

204.50

0.50

0.50

2.3**

Adrian

including

226.00

226.50

0.50

0.50

5.7 **

Adrian

including

227.50

228.00

0.50

0.50

2.4**

Adrian

including

230.50

231.00

0.50

0.50

2.3**

Adrian

352.00

354.50

2.50

0.5

Adrian

GWM20CL-81

178.00

179.00

1.00

0.6

Adrian

179.85

184.55

4.70

33.7 VG**

Adrian

including

180.35

182.50

2.15

60.7 VG**

Adrian

188.60

189.10

0.50

0.6

Adrian

190.65

192.65

2.00

0.5

Adrian

198.60

201.00

2.40

0.7

Adrian

226.50

229.50

3.00

0.6

Adrian

268.50

270.00

1.50

1.5**

Adrian

309.00

310.50

1.50

0.5

Adrian

312.00

315.00

3.00

1.2**

Adrian

GWM20CL-82

22.40

23.10

0.70

1.8**

Adrian

31.80

32.50

0.70

2.2**

Adrian

68.00

69.00

1.00

1.0**

Adrian

72.65

86.55

13.90

1.5**

Adrian

including

73.65

74.25

0.60

4.2**

Adrian

including

78.70

79.75

1.05

8.7**

Adrian

91.40

92.20

0.80

0.4

Adrian

100.25

103.85

3.60

0.5**

Adrian

112.85

115.70

2.85

0.9**

Adrian

169.30

171.25

1.95

0.5**

Adrian

180.00

181.05

1.05

0.7**

Adrian

203.80

204.45

0.65

1.7**

Adrian

238.15

239.20

1.05

0.6

Adrian

311.05

316.10

5.05

1.5**

Adrian

332.65

333.20

0.55

0.7

Adrian

337.00

339.00

2.00

0.6

Adrian

GWM21CL-89

87.50

88.50

1.00

3.8**

Adrian

118.50

120.00

1.50

0.9

Adrian

138.00

139.50

1.50

0.5

Adrian

179.00

182.00

3.00

78.4**

Adrian

including

181.00

181.50

0.50

313**

Adrian

including

181.50

182.00

0.50

147**

Adrian

184.00

185.00

1.00

0.7**

Adrian

190.00

202.00

12.00

0.5

Adrian

207.50

209.00

1.50

0.5

Adrian

227.00

228.50

1.50

0.4

Adrian

240.50

241.50

1.00

6.4

Adrian

251.50

252.50

1.00

0.4

Adrian

256.00

257.50

1.50

0.7

Adrian

266.00

267.00

1.00

0.4

Adrian

285.00

327.00

42.00

pending

Adrian

GWM21CL-90

143.00

145.50

2.50

1.2

Adrian

156.00

157.50

1.50

0.7

Adrian

171.00

172.50

1.50

0.4

Adrian

211.00

213.00

2.00

0.5

Adrian

219.00

220.50

1.50

0.5

Adrian

222.00

224.00

2.00

0.9

Adrian

226.00

227.00

1.00

0.5

Adrian

229.00

230.00

1.00

0.4

Adrian

236.00

237.00

1.00

0.6

Adrian

240.00

242.00

2.00

1.0

Adrian

317.45

318.40

0.95

8.8

Adrian

365.60

367.00

1.40

1.4

Adrian

GWM21CL-91

60.00

61.50

1.50

0.5

Adrian

84.00

85.00

1.00

0.5

Adrian

90.50

111.50

21.00

0.7

Adrian

110.00

111.50

1.50

2.1

Adrian

138.50

140.00

1.50

0.6

Adrian

166.50

167.00

0.50

0.8

Adrian

178.50

179.00

0.50

2.2

Adrian

191.10

191.60

0.50

0.6

Adrian

197.50

198.00

0.50

0.5

Adrian

GWM21CL-93

144.00

148.50

4.50

0.6

Adrian

202.50

204.00

1.50

0.4

Adrian

207.00

226.00

19.00

0.5

Adrian

239.00

254.20

15.20

0.8

Adrian

including

246.00

247.00

1.00

2.9

Adrian

GWM21CL-94

155.00

156.00

1.00

0.6

Adrian

158.00

159.00

1.00

0.5

Adrian

167.00

168.00

1.00

0.4

Adrian

170.00

204.00

34.00

30.50

1.2

Adrian

including

178.00

179.00

1.00

0.90

16.0

Adrian

GWM20CL-96

43.75

44.60

0.85

0.4**

Adrian

53.00

54.10

1.10

0.8**

Adrian

62.15

63.65

1.50

0.5**

Adrian

135.00

136.50

1.50

0.6

Adrian

146.00

147.00

1.00

9.9**

Adrian

160.50

162.00

1.50

0.5

Adrian

175.00

184.00

9.00

0.9

Adrian

including

175.00

175.50

0.50

7.9

Adrian

190.15

209.00

18.85

0.7**

Adrian

Including

199.65

200.20

0.55

8.5**

Adrian

217.35

220.75

3.40

1.1**

Adrian

204.00

204.50

0.50

1.1

Adrian

GWM21CL-98

71.00

72.00

1.00

5.2

Adrian

146.50

154.50

8.00

0.5

Adrian

163.50

168.50

5.00

1.3

Adrian

including

163.50

164.00

0.50

6.6

Adrian

180.00

180.50

0.50

0.5

Adrian

182.00

193.50

11.50

1.1

Adrian

including

182.00

183.50

1.50

3.8

Adrian

including

193.00

193.50

0.50

6.4

Adrian

201.00

501.00

300.00

pending

Adrian

GWM21CL-101

183.00

184.00

1.00

0.6

Adrian

205.50

206.00

0.50

6.5

Adrian

215.50

217.00

1.50

0.8

Adrian

301.00

302.00

1.00

0.5

Adrian

304.00

309.50

5.50

1.0

Adrian

including

304.00

305.00

1.00

3.3

Adrian

347.00

381.50

34.50

pending

Adrian

388.00

401.00

13.00

pending

Adrian

GWM21CL-102

46.50

55.00

8.50

pending

Adrian

145.00

169.00

24.00

1.0

Adrian

including

145.00

147.50

2.50

3.6

Adrian

including

151.00

152.50

1.50

5.3

Adrian

227.50

229.00

1.50

0.6

Adrian

GWM21CL-103

131.30

132.00

0.70

0.8

Adrian

321.00

327.00

6.00

2.4

Adrian

400.00

425.00

25.00

5.7**

Adrian

including

408.05

414.00

5.95

20.5**

Adrian

GWM21CL-105

169.50

173.00

3.50

6.5

Adrian

including

170.50

171.00

0.50

14.8

Adrian

181.00

185.00

4.00

0.5

Adrian

195.50

199.50

4.00

2.8

Adrian

including

196.00

197.00

1.00

12.8

Adrian

210.50

222.00

11.50

0.5

Adrian

GWM21CL-107

146.00

164.00

18.00

0.2

Adrian

214.00

214.50

0.50

1.6

Adrian

295.00

295.50

0.50

0.5

Adrian

300.00

307.00

7.00

3.4

Adrian

including

304.00

305.00

1.00

12.3

Adrian

GWM21CL-109

21.00

22.50

1.50

0.4

162.00

163.50

1.50

0.7

179.00

189.00

10.00

8.70

1.7**

including

187.00

188.00

1.00

0.90

8.0**

196.00

197.00

1.00

1.5**

200.00

543.00

343.00

pending

649.50

660.70

11.20

pending

GWM21CL-112

12.00

21.50

9.50

pending

Adrian

30.00

99.00

69.00

pending

Adrian

109.00

109.70

0.70

1.2

Adrian

153.00

163.00

10.00

1.6**

Adrian

including

153.00

154.00

1.00

5.3**

Adrian

including

158.00

159.00

1.00

5.5**

Adrian

199.50

201.00

1.50

0.6

Adrian

222.00

223.50

1.50

3.7

Adrian

241.50

259.50

18.00

pending

Adrian

298.00

308.00

10.00

0.8**

Adrian

including

306.50

307.30

0.80

3.4**

Adrian

321.00

366.00

45.00

pending

Adrian

382.50

397.00

14.50

pending

Adrian

408.00

418.00

10.00

pending

Adrian

GWM21CL-116

123.00

126.00

3.00

0.4

Adrian

126.00

130.00

4.00

pending

Adrian

159.00

159.50

0.50

2.0

Adrian

179.50

180.60

1.10

0.9

Adrian

191.00

194.00

3.00

1.3

Adrian

including

191.00

192.00

1.00

3.5

Adrian

217.50

218.00

0.50

0.5

Adrian

237.00

240.00

3.00

1.8

Adrian

including

237.00

237.50

0.50

7.0

Adrian

261.00

262.50

1.50

2.3

Adrian

297.50

299.00

1.50

0.9

Adrian

304.50

306.50

2.0

12.9**

Adrian

including

305.00

305.50

0.50

48.2**

Adrian

309.50

310.10

0.60

0.7

Adrian

315.00

316.50

1.50

0.5

Adrian

GWM21CL-117

84.00

103.50

19.50

5.40

1.3

GMZ

including

94.50

95.50

1.00

0.30

9.5

GMZ

including

90.50

91.50

1.00

0.30

3.3

GMZ

including

100.50

101.00

0.50

0.10

3.6

GMZ

107.30

108.30

1.00

0.4

GMZ

111.30

117.00

5.70

1.60

0.6

GMZ

145.80

146.50

0.70

1.0

GMZ

200.50

304.50

104.00

pending

Adrian

309.00

310.50

1.50

0.5

Adrian

312.00

318.00

6.00

pending

Adrian

GWM21CL-118

11.00

207.00

196.00

pending

Adrian

270.00

327.10

57.10

pending

Adrian

328.50

330.00

1.50

1.5

Adrian

331.50

333.00

1.50

0.6

Adrian

351.00

352.00

1.00

0.5

Adrian

363.00

364.00

1.00

12.9

Adrian

373.50

375.00

1.50

0.5

Adrian

375.00

381.00

6.00

pending

Adrian

GWM21CL-119

46.00

104.50

58.50

pending

GMZ

118.90

120.00

1.10

0.5

GMZ

122.00

123.20

1.20

0.5

GMZ

123.20

187.00

63.80

pending

GMZ

198.40

220.00

21.60

20.60

0.7**

GMZ

220.00

400.00

180.00

pending

GMZ

GWM21CL-120

61.60

102.00

40.40

pending

GMZ

108.00

142.00

34.00

pending

GMZ

145.00

162.00

17.00

10.50

3.9

GMZ

including

143.50

144.00

0.50

0.30

0.6

GMZ

including

145.00

145.50

0.50

0.30

91.2

GMZ

145.00

151.00

6.00

10.2**

GMZ

172.00

180.00

8.00

pending

Adrian

188.00

189.00

1.00

0.5

Adrian

199.00

251.50

52.50

41.90

0.9

Adrian

including

204.00

207.00

3.00

2.40

4.0

Adrian

including

215.00

216.00

1.00

0.80

4.3

Adrian

including

251.00

251.50

0.50

0.40

7.6

Adrian

280.00

281.00

1.00

0.8

Adrian

309.00

310.00

1.00

0.4

Adrian

314.00

315.00

1.00

3.3

Adrian

366.50

385.00

18.50

pending

Adrian

394.50

413.00

18.50

pending

Adrian

413.00

419.25

6.25

0.6

Adrian

419.25

423.50

4.25

pending

Adrian

423.50

429.00

5.50

0.5

Adrian

GWM21CL-121

154.50

158.00

3.50

1.40

1.6

GMZ

including

155.50

156.00

0.50

4.5

GMZ

162.00

181.00

19.00

pending

GMZ

189.00

198.50

9.50

pending

GMZ

201.00

211.20

10.20

4.10

1.6

GMZ

213.20

214.30

1.10

0.7

GMZ

229.50

230.50

1.00

1.7

GMZ

266.50

269.00

2.50

1.7

GMZ

including

267.50

268.00

0.50

6.0

GMZ

275.75

477.00

201.25

pending

GMZ

GWM21CL-122

56.00

96.00

40.00

pending

Adrian

137.00

196.50

59.50

pending

Adrian

219.00

263.00

44.00

pending

Adrian

263.00

318.50

55.50

36.60

5.8

Adrian

including

310.00

310.50

0.50

0.30

151.0**

Adrian

including

314.00

314.55

0.55

0.40

144.0**

Adrian

303.75

308.00

4.25

pending

Adrian

340.00

340.50

0.50

34.0

Adrian

412.50

441.00

28.50

pending

Adrian

GWM21CL-123

62.00

148.00

86.00

pending

GMZ

151.25

155.50

4.25

2.10

11.2

GMZ

including

151.25

151.75

0.5

0.2

77.7

GMZ

155.50

180.00

24.50

pending

GMZ

183.00

185.00

2.00

2.8

GMZ

185.00

426.50

241.50

pending

GMZ

GWM21CL-125

57.00

226.00

169.00

pending

Adrian

226.00

245.00

19.00

14.50

0.6

Adrian

244.00

245.00

1.00

0.80

2.0

Adrian

250.00

373.00

123.00

pending

Adrian

GWM21CL-126

56.00

193.00

137.00

pending

Adrian

197.00

234.30

37.30

28.80

1.1

Adrian

including

208.00

209.00

1.00

8.00

3.4

Adrian

including

213.00

214.00

1.00

0.80

3.6

Adrian

including

222.00

223.00

1.00

0.80

3.2

Adrian

239.50

330.00

90.50

pending

Adrian

GWM21CL-130

25.00

195.00

170.00

pending

GMZ

198.00

201.00

3.00

0.9

GMZ

202.00

324.00

122.00

pending

GMZ

GWM21CL-134

154.00

155.00

1.00

0.5

GMZ

160.00

162.00

2.00

1.0

GMZ

187.00

188.00

1.00

2.2

GMZ

195.00

199.70

4.70

2.10

5.5

GMZ

including

198.50

199.00

0.50

0.20

23.8

GMZ

including

199.00

199.70

0.70

0.30

16.5

GMZ

212.15

213.00

0.85

0.6

GMZ

221.00

222.00

1.00

1.1

GMZ

231.50

240.00

8.50

0.7

GMZ

249.00

252.50

3.50

0.6

Adrian

257.00

258.00

1.00

1.0

Adrian

GWM21CL-136

109.00

126.50

17.50

11.40

8.1

GMZ

including

121.50

122.00

0.50

0.30

89.2

GMZ

including

122.00

122.65

0.65

0.40

88.8

GMZ

130.50

131.50

1.00

0.7

GMZ

165.00

166.85

1.85

0.5

GMZ

229.00

242.00

13.00

9.90

1.0

Adrian

including

241.00

242.00

1.00

0.80

7.1

Adrian

251.70

253.00

1.30

1.0

Adrian

259.00

260.00

1.00

0.6

Adrian

263.30

274.00

10.70

8.20

2.2

Adrian

including

263.30

263.80

0.50

0.40

16.9

Adrian

including

264.65

265.15

0.50

0.40

20.4

Adrian

284.00

285.00

1.00

0.9

Adrian

306.00

312.65

6.65

0.7

Adrian

324.00

325.00

1.00

0.7

Adrian

GWM21CL-139

42.00

154.50

112.50

pending

GMZ

167.00

175.50

8.50

3.90

1.0

GMZ

including

170.00

171.50

1.50

0.70

2.7

GMZ

186.50

230.50

44.00

pending

Adrian

252.00

252.50

0.50

0.5

Adrian

254.00

255.00

1.00

97.7

Adrian

including

254.00

254.50

0.50

193.0

Adrian

267.50

274.50

7.00

2.0

Adrian

including

267.50

268.00

0.50

17.9

Adrian

279.50

375.00

95.50

pending

Adrian

** previously released; VG = visible gold. 0.42 g/t Au was used for the bottom cut-off; True widths are unknown if not noted.

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. The Richard Zone contains multiple zones of quartz veining with sulfides and sericite alteration. In general, mineralization at Clarence Stream consists of 10-70% quartz stockworks and veins with 1-5% fine pyrite plus pyrrhotite plus arsenopyrite plus stibnite in sericite altered sediments. The Jubilee mineralization consists of 2%-5% disseminated pyrite, sphalerite, galena, arsenopyrite, chalcopyrite, and pyrrhotite in sediments with white to smoky grey quartz veining. Locally there is up to 10% sphalerite and semi-massive galena veinlets. The 2.5 km 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 at www.galwaymetalsinc.com.

Review by Qualified Person, Quality Control and Reports

Michael Sutton, P.Geo., Director and VP 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 Inc. 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. 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%.

Table 2: Drill Hole Coordinates

Hole ID

Azimuth

Dip

Easting

Northing

Depth

GWM20CL-40

122

-48

654391

5022582

204

GWM20CL-48

339

-45

5023060

654230

339

GWM20CL-52

345

-75

654368

5022562

393

GWM20CL-81

85

-70

654366

5022822

408

GWM20CL-82

85

-70

654363

5022871

381

GWM21CL-89

120

-67

654359

5022870

242

GWM21CL-90

326

-47

654482

5022649

369

GWM21CL-91

100

-70

654359

5022870

240

GWM21CL-93

317

-55

654482

5022649

396

GWM21CL-94

315

-65

654482

5022649

369

GWM20CL-96

95

-45

653896

5022081

492

GWM21CL-98

316

-66

654553

5022834

201

GWM21CL-101

108

-60

654359

5022870

347

GWM21CL-102

73

-78

654362

5022829

240

GWM21CL-103

310

-45

654657

5022676

465

GWM21CL-105

66

-78

654366

5022802

309

GWM21CL-107

78

-83.5

654422

5022812

330

GWM21CL-109

310

-60

654657

5022676

680

GWM21CL-112

80

-81

654435

5022828

288

GWM21CL-116

80

-80

654396

5022852

321

GWM21CL-117

310

-75

654656

5022676

318

GWM21CL-118

60

-81

654371

5022783

381

GWM21CL-119

305

-59

654604

5022607

400

GWM21CL-120

312

-56

654564

5022510

429

GWM21CL-121

312

-67

654564

5022510

477

GWM21CL-122

312

-45

654564

5022510

441

GWM21CL-123

310

-61

5022476

654546

427

GWM21CL-125

310

-50

654546

5022477

373

GWM21CL-126

313

-51

654583

5022546

330

GWM21CL-130

317

-62

654583

5022547

324

GWM21CL-134

315

-71

654583

5022546

327

GWM21CL-136

310

-53

654648

5022613

369

GWM21CL-139

296

-62.5

654645

5022627

375

For results of all holes that Galway has drilled at Clarence Stream, go to Galway's website at www.galwaymetalsinc.com.

Figure 1: Plan Map of the Adrian, GMZ, Richard and Jubilee Zones

Galway Metals Inc., Tuesday, December 7, 2021, Press release picture

Figure 2: Plan Map of the Adrian and GMZ Zones

Galway Metals Inc., Tuesday, December 7, 2021, Press release picture

Figure 3: GMZ and Adrian Cross Section

Galway Metals Inc., Tuesday, December 7, 2021, Press release picture

About the Company

Galway Metals is well capitalized with two projects in Canada: Clarence Stream, an emerging gold district in New Brunswick, and Estrades, the former producing, high-grade, gold-rich VMS polymetallic mine in Quebec. The Company began trading on January 4, 2013, after its successful spinout to existing shareholders from Galway Resources following the completion of the US$340 million 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.

Should you have any questions and for further information, please contact (toll free):

Galway Metals Inc.
Robert Hinchcliffe
President & Chief Executive Officer
1-800-771-0680
Website: www.galwaymetalsinc.com
Email: [email protected]
Look us up on Facebook, Twitter or LinkedIn

CAUTIONARY STATEMENT: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements made herein with respect to, among other things, the Company's objectives, goals or future plans, potential corporate and/or property acquisitions, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, exploration results being less favourable than anticipated, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, risks associated with the defence of legal proceedings and other risks involved in the mineral exploration and development industry, as well as those risks set out in the Company's public disclosure documents filed on SEDAR. Although the Company believes that management's assumptions used to develop the forward-looking information in this news release are reasonable, including that, among other things, the Company will be able to identify and execute on opportunities to acquire mineral properties, exploration results will be consistent with management's expectations, financing will be available to the Company on favourable terms when required, commodity prices and foreign exchange rates will remain relatively stable, and the Company will be successful in the outcome of legal proceedings, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information contained herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

SOURCE: Galway Metals Inc.

Topic:
Company Update
Back to newsroom
Back to Newsroom