Galway Metals Inc. [GWM-TSXV; GAYMF-OTC] released significant new drill results from two holes at its George Murphy Zone (GMZ) at the 100%-optioned Clarence Stream gold project in southwestern New Brunswick. An additional about 5,000 metres of drilling in the GMZ and Richard zones have assays pending.
Highlights include 6.5 g/t gold over 14.05 metres, 9.7 g/t over 2.0 metres, 1.2 g/t over 11.0 metres, 4.9 g/t over 2.35 metres and 1.3 g/t over 3.95 metres in hole 88 at the GMZ – extending the zone by 230 metres to the west.
The above intersection of 6.5 g/t gold over 14.05 metres is a 192-m step-out below and to the west (137 m vertically) from the deepest previous intersection in the vein.
Hole 58 returned 11.4 g/t gold over 2.0 metres and 1.1 g/t over 3.8 metres at the GMZ – represents new discoveries of two new veins at the GMZ, located 75 metres and 150 metres north of the northernmost structure of the GMZ.
“Galway is rapidly expanding the George Murphy Zone in both vertical and horizontal dimensions. The new discovery to the north contains strong quartz veining, which typically carries the gold. The new drilling to the west has shrunk what was an 800-metre gap between the Richard and GMZ, which Galway believes are part of the same system. The 6.5 g/t over 14 metres is the deepest intersection to date at 335 metres in any of the three zones along this trend – the Jubilee, Richard and George Murphy zones, which cover 2.5 km of strike length. These three zones are not included in the existing Clarence Stream resource, as two of them, the GMZ and Richard, were discovered by Galway after the last resource estimate was released in September, 2017. These results, and those that precede them, demonstrate that Clarence Stream is an emerging new gold district in North America,” said Robert Hinchcliffe, President and CEO.
The recent 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.
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 (volcanogenic massive sulphide) mine in Quebec.