Galway Metals Update on Clarence Stream Project
Galway Metals Inc has reported assay results that were pending from drilling on the east and west sides of the Richard Zone at the Company's Clarence Stream
Galway Metals Inc has reported assay results that were pending from drilling on the east and west sides of the Richard Zone at the Company's Clarence Stream project in southwest New Brunswick in Canada
The latest results are highlighted by:
Hole 128 intersected 5.3 grams per tonne Au over 25.5 metres, including 54.6 g/t Au over 0.5m, 20.9 g/t Au over 2.5m, and 16.4 g/t Au over 1.5m, (previously released as VG in 19m of quartz), starting at a vertical depth of 208m below surface. It is 92m below hole 125, but now interpreted to be a different vein. Hole 125 intersected 17.0 g/t Au over 5.5m, including 163.0 g/t Au over 0.5m with VG.
The 5.3 g/t Au over 25.5m appears to line up best with the northern-most vein that Galway intersected at the time of the discovery of the Richard Zone, which returned 5.4 g/t Au over 11.0m. These are the first results from multiple new holes (pending assays) located in the 660m gap between the Richard Zone and the George Murphy Zone and is located 262m east of the previous eastern Richard limit defined by the discovery hole intersection that returned 7.3 g/t Au over 36.7m. This gap area between the GMZ and Richard Zones has now been reduced to 400m
Hole 127 intersected 5.1 g/t Au over 10.2m including 91.4 g/t Au over 0.5m, (previously released as VG in 13m of quartz), starting at a vertical depth of 232m below surface. It is located on a step-out section 168m west of hole 118. Hole 118 intersected 9.7 g/t Au over 15.0m, including 267.0 g/t Au over 0.5m, which, at the time of its release on October 26, 2020, was 90m west of the previous western limit of the Richard Zone. The 5.1 g/t Au over 10.2m is located along the same section as previously-drilled hole 68, which returned 3.0 g/t Au over 12.0m, which was previously considered to be the eastern-most extent of the Jubilee Zone. Galway has now closed the previous 1km gap between the Richard and Jubilee Zones, but will undertake in-fill drilling in this area and toward Jubilee
The intersections in holes 127 and 68 on the west side, and 125 and 128 on the east side, extend mineralization along the Richard Zone to 926m, more than double the previous 400m
These results further confirm that the Jubilee, Richard and George Murphy Zones are part of the same mineralizing system that extends 2.5km. If the recently reported new discovery of 186.5 g/t Au over 0.6m were included, which is directly on-trend approximately 1km SW of Jubilee, the strike length of this mineralizing system extends to 3.5km
Robert Hinchcliffe, President and CEO of Galway Metals, said "The strong, wide mineralization in hole 128 in the gap between the Richard and George Murphy Zones plots by itself on the long section with lots of room to grow. This really beefs up the footprint of the gold system. With a strong balance sheet following Galway's $17 million June financing, the Company's recently expanded 5-rig, 75,000m drill program is fully-funded through the end of 2021. Galway's aim is to not only expand the existing zones, but to also continue making new discoveries to further demonstrate that Clarence Stream is an important new gold district in North America."