Galway Metals drills 48.8 m of 0.7 g/t Au at Clarence
2018-02-20 06:49 ET – News Release
Mr. Robert Hinchcliffe reports
GALWAY METALS NEW DISCOVERY GETS BIGGER: 0.7 G/T AU OVER 48.8M, LOCATED ABOVE 2.2 G/T AU OVER 11.9M AND 300M EAST OF 2.1 G/T AU OVER 7.6M
Galway Metals Inc. has released additional intersections from the new discovery of mineralization at Clarence Stream in southwestern New Brunswick, two kilometres east of the Jubilee zone and four km west of the South zone — known as the George Murphy zone. There are now four drill holes that have intersected two sections, with three on one section and one on the other. The new intersect of 0.7 gram per tonne (g/t) gold (Au) over 48.8 metres (m) (hole GWM18CL-15) is on one section and is located 63.5 to 98 metres above the previously reported intersect of 2.2 g/t Au over 11.9 m (GWM17CL-04) and 93 metres north of the previously reported intersect of 5.3 g/t Au over 0.5 m (GWM17CL-05 — visible gold present). The other section was identified by the new intersect of 2.1 g/t Au over 7.6 m (GWM17CL-02), which is located 300 metres west of the 5.3 g/t Au over 0.5 m, and there has not yet been any drilling in between. Drill hole GWM18CL-17 has been drilled below hole GWM17CL-02 and intersected visible gold at downhole depths of 63.30 m and 134.60 m, with assays pending. The latter intersection likely correlates with the 2.1 g/t over 7.6 m in hole GWM17CL-02 located 65 m above. The initial release of rushed assays from this new discovery on Dec. 18, 2017, only reported partial assay results from the first five holes.
Robert Hinchcliffe, president and chief executive officer of Galway Metals, said: “Galway is poised to unlock the exploration potential of its vast land package, where soil sampling works very well to identify major deposits, just as it does in Nevada, the Yukon, and many other places around the world. The exploration priority going forward will be to continue following the trends along which the four deposits to date have been found. Having wide intersections in new discoveries that are really shallow — in this case at 22 metres below surface — can add value quickly. We’ve been at Clarence Stream for 18 months, have already reported over a 50-per-cent increase in the gold resource. We are excited about the next 18 months and the prospect of building a new gold district in New Brunswick.”
New discovery drill results
- 0.7 gram per tonne (g/t) gold (Au) over 48.8 metres (m), including 5.6 g/t Au over 1.0 m, plus 4.2 g/t Au over 0.8 m, plus 3.2 g/t Au over 1.3 m, plus 2.5 g/t Au over 1.5 m, plus 2.1 g/t Au over 1.0 m, plus 2.0 g/t Au over 0.8 m, plus 1.6 g/t Au over 0.9 m, starting and ending at vertical depths of 22.0 m and 56.5 m, respectively, in hole GWM18CL-15;
- 2.1 g/t Au over 7.6 m, including 6.3 g/t Au over 1.0 m, starting at a vertical depth of 56.5 m in hole GWM17CL-02.
The new discovery was found by drilling in the immediate vicinity of a 700 m long soil anomaly where boulders containing gold were found by prospector George Murphy. There appears to be at least two zones that trend the same northeast-southwest direction as the Jubilee and South zones. On Sept. 26, 2017, Galway issued a resource update at Clarence Stream, which now includes pit-constrained resources of 352,200 ounces of measured and indicated plus 153,100 ounces of inferred, each at 1.9 g/t gold. The underground gold resource contains an additional 37,800 ounces at 4.4 g/t of measured and indicated plus 124,100 ounces at 4.5 g/t of inferred (estimate prepared by SRK Consulting (U.S.) Inc.). The George Murphy and Jubilee zones are not part of the property resource.
Hole GWM18CL-15 intersected multiple zones of quartz. The intersection of 0.7 g/t over 48.8 m is located at 63.5 to 98 metres above the 2.2 g/t over 11.9 m in hole GWM17CL-04. Further downhole GWM18CL-15, quartz zones are found at 137 to 147 m, 219 to 230 m and 251 to 258 m for which assays are pending. One of these appears to correlate with the 5.3 g/t Au over 0.5 m in previously released hole GWM17CL-05 where visible gold was present.
The dip is uncertain but the angles of the quartz veins to the core is 30 to 70 degrees. The mineralization consists of 10 to 70 per cent quartz stockworks and veins with 1 to 5 per cent fine pyrite plus pyrrhotite plus arsenopyrite in sericite-altered sediments. Of note is the existence of a massive zone of quartz (70 to 100 per cent generally) in hole 3 from 16 to 47 m that only assayed anomalously. An image on the company’s website shows the location of the new discovery relative to other zones and soil anomalies. Another image on the company’s website shows the holes and the 300 m gap in drilling between the zones in holes 15, 4 and 5 and the zones in holes 1 to 3. This gap is up ice from the boulders that assayed 16.5 g/t, 11.5 g/t and 7.9 g/t for gold. Like the North zone, this new discovery is located north of the Sawyer Brook fault.
NEW DISCOVERY ASSAYS -- NORTH
Hole From To Intercept Au
ID (m) (m) (m) (g/t)
CL17-02 41.00 43.10 2.10 0.9**
49.20 51.30 2.10 1.7**
57.50 59.45 1.00 1.5**
123.15 126.00 2.85 0.6
78.90 86.50 7.60 2.1
including 80.00 81.00 1.00 6.3
CL17-04 170.50 182.30 11.90 2.2**
including 170.50 171.60 1.20 12.4**
224.60 225.50 0.90 1.3**
146.00 146.75 0.75 1.1
151.00 152.50 1.50 2.9
161.60 164.00 2.40 0.8
CL17-05 238.50 250.80 12.30 0.6**
including 238.50 239.60 1.10 1.6**
including 248.30 248.80 0.50 *5.3**
CL17-07 295.25 296.75 1.50 0.7
CL18-15 31.00 79.75 48.75 0.7
including 33.40 34.20 0.80 4.2
including 37.70 38.45 0.75 2.0
including 50.00 51.00 1.00 5.6
including 61.50 62.40 0.90 1.6
including 63.50 65.00 1.50 2.5
including 74.00 75.00 1.00 2.1
including 78.45 79.75 1.30 3.2
* VG (visible gold) -- assayed by metallic screens method.
** Previously released. Drill holes 1 and 3 contained anomalous assays
up to 348 parts per billion; no upper cut-off grade was applied; 0.42
g/t Au was used for the bottom cut-off; true widths are unknown, but
if the dips are vertical as interpreted, then it would be 70 per cent
of downhole width.
Holes GWM17CL-06 and 08 to 14 were drilled south of the discovery to check for the presence of the South zone, which is south of the Sawyer Brook fault. Some low-grade intersections were returned but the South zone has not yet definitively been found in this area. Hole GWM18CL-13 contains a 63.1-metre section of veined and stockwork quartz veining with 1 to 3 per cent sulphides but the best assay is only 0.6 g/t over 0.5 m, while hole GWM17CL-10 contained a one-metre quartz vein near a sediment-gabbro contact (characteristic of the South zone) with 1 to 3 per cent sulphides that did not run.
NEW DISCOVERY ASSAYS -- SOUTH
Hole From To Intercept Au
ID (m) (m) (m) (g/t)
CL17-09 212.85 213.50 0.65 0.4
224.00 225.00 1.00 0.4
258.65 259.65 1.00 0.4
303.00 306.00 3.00 pending
CL17-10 266.50 268.00 1.50 1.5
CL18-13 216.50 217.00 0.50 0.6
254.00 255.00 1.00 0.5
274.25 275.25 1.00 0.5
CL18-14 51.00 52.00 1.00 0.5
No upper cut-off grade was applied; 0.42 g/t was used for
the bottom cut-off; holes GWM17CL-06, 08, 11, 12 did not
return significant assays. True widths are unknown.
Investors are welcomed to visit Galway’s team during the PDAC (Prospectors & Developers Association of Canada) at booth 2623A on Sunday and Monday, March 4, and March 5, and at the core shack on Tuesday and Wednesday, March 6 and March 7.
Review by qualified person, quality control and reports
Michael Sutton, PGeo, is the qualified person who supervised the preparation of the scientific and technical disclosure in this news release on behalf of Galway Metals. All core, chip/boulder samples and soil samples are assayed by Activation Laboratories, 41 Bittern St., Ancaster, Ont., Canada, who 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 quality assurance/quality control 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 5 per cent (5 per cent) 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 per cent.
About Galway Metals Inc.
Galway Metals is well capitalized with two gold projects in Canada: Clarence Stream, an emerging gold district in New Brunswick, and Estrades, the former producing, high-grade VMS mine in Quebec.
We seek Safe Harbor.
https://galwaymetalsinc.com/news/
Related Posts
Tags
Share This
