Assay results for metallurgical holes drilled at the SW Deposit have been received as well.
Drill results from the SW deposit west end will be released in the coming weeks.
Quote from the Company
'The SW Deposit, with a previous total strike length of 3.1 kilometers, is still open for expansion to the south, north, east, and to depth,' said
Highlights include: The SW Deposit (GMZ) East Area has been extended 191 metres further east with hole CL-165 intersecting 19.1 grams per tonne (g/t) gold over 1.05 metres on what appears to be a new vein
The SW Deposit (GMZ) East Area has had drilling in hole CL-170 intersect 0.5 g/t gold over 17.0 metres located just east of and outside the resource pit
Drilling 475 metres north of the SW Deposit pit (
Drilling 214 metres northeast of the SW Deposit pit (
Diamond drill core drilled for Metallurgical purposes taken along the SW Deposit has returned 12.6 g/t gold over 18.0 metres in hole MH-07 and 8.6 g/t gold over 24.3 metres in hole MH-16
George Murphy Zone East Highlights: Hole CL-172: 0.6 g/t gold over 6.0 metres beginning at a vertical depth of 16 metres
Hole CL-170: 0.5 g/t gold over 17.0 metres beginning at a vertical depth of 94 metres
Includes 1.5 g/t gold over 1.0 metre, 1.4 g/t gold over 1.0 metre, and 1.3 g/t g over 1.0 metre
Hole CL-166: 0.6 g/t gold over 41.0 metres beginning at a vertical depth of 62 metres, 0.7 g/t gold over 4.5 metres beginning at a vertical depth of 35 metres, and 1.2 g/t gold over 3.0 metres beginning at a vertical depth of 20 metres
Hole CL-165: 19.1 g/t gold over 1.05 metres beginning at a vertical depth of 111 metres
Includes 35.8 g/t gold over 0.55 metres
Hole CL-159: 0.8 g/t gold over 4.75 metres beginning at a vertical depth of 207 metres
Includes 4.0 g/t gold over 0.5 metres
Hole CL-147: 0.9 g/t gold over 5.0 metres beginning at a vertical depth of 75 metres
Adrian North Highlights
Hole CL-171: 0.8 g/t gold over 5.5 metres beginning at a vertical depth of 111 metres and including 6.1 g/t gold over 0.5 metres, and 0.7 g/t gold over 4.2 metres beginning at a vertical depth of 179 metres, including 4.0 g/t gold over 0.5 metres
Adrian Highlights: Hole CL-144: 0.6 g/t gold over 6.0 metres and 4.4 g/t gold over 1.5 metres including 11.7 g/t gold over 0.5 metres, starting at vertical depths of 104 metres and 312 metres, respectively
Hole CL-155: 0.6 g/t gold over 12.0 metres and 0.6 g/t gold over 3.0 metres, starting at vertical depths of 255 metres and 206 metres, respectively previously released- not in resource
Results Indicate the SW Deposit is Open East and NE
The Adrian north drill intersections are important because they illustrate there are significant gold intersections located 475 metres from the existing block model. These drill intersections are well north and east of the Triangle area where Galway is attempting to fill in the area between the new
The drill results east of GMZ include 19.1 g/t gold over 1.05 metres, and 0.5 g/t gold over 17.0 metres. These results indicate that the deposit is open in that direction. Previously released results of 0.6 g/t gold over 41.0 metres (CL-166), and 2.0 g/t gold over 14.0 metres (CL-164) were returned after the resource was completed and would also widen and extend the GMZ resource east.
Drilling for Metallurgical Testing and Ore Sorting
Diamond drilling was undertaken to retrieve PQ-sized core (i.e. big core - 85 mm diameter) at Clarence Stream for use in studies to determine the amenability of the mineralization for pre-concentration on site via ore sorting and for metallurgical testing. The first assay results from the new SW Deposit have been received from the metallurgical core holes. No MET work has been conducted on this new deposit. The Clarence Stream work is designed to check five different areas to confirm if conventional cyanide will liberate good recoveries and if gravity recoveries are adequate.
Intersections from the PQ core include: 12.6 g/t gold over 18.0 metres (
Galway would like to acknowledge financial support from the
Clarence Stream Geology and Mineralization
Review by Qualified Person, Quality Control and Reports -
The Mineral Resource estimates for the North and South Zones were prepared by Mr.
About the Company
Contact:
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Email: info@galwaymetalsinc.com
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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.
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