Canadian Mining Journal

News

GOLD: Galway Metals closing the gap at Clarence Stream



Galway Metals' Clarence Stream project in New Brunswick. Credit: Galway Metals

Galway Metals’ Clarence Stream project in New Brunswick. Credit: Galway Metals

TORONTO – Drilling at Galway Metals’ Clarence Steam project in southwest New Brunswick is filling in the gap between the Richard and Jubilee zones, suggesting that the zones are part of the same system.

The gap between the two zones is now 425 metres, down from 1 km when the Richard zone discovery was announced in January 2019. Together, the Jubilee, Richard and George Murphy zones cover 2.5 km of strike length. None of the zones are in the current resource for Clarence Stream, but Galway plans to incorporate them in its next resource update mid-year.

As a result of the drilling success, the company has expanded its drill program for the year to 25,000 metres, up from 15,000 metres.

Drill highlights at the Richard zone include:

In hole 78: 4.8 metres of 20.9 g/t gold (including 0.9 metre of 54.5 g/t gold and 0.6 metre of 64.6 g/t gold) from 129 metres depth, and 14.1 metres of 2.7 g/t gold from 93.8 metres depth;

In hole 77, 31.1 metres of 1.2 g/t gold (including 1 metre of 7.3 g/t gold and 1.2 metres of 4.9 g/t gold) starting from 128.5 metres depth; and

In hole 72, 29.7 metres of 4.6 g/t gold (including 0.8 metre of 63.6 g/t gold, 0.5 metre of 49.1 g/t gold and 0.8 metre of 17.5 g/t gold) starting from 128.4 metres depth. (This hole was reported previously but has been revised with new assay information received.)

“The Richard and Jubilee zones are expanding towards each other, which is what we thought would happen, but at higher grades than expected,” said Robert Hinchcliffe, president and CEO of Galway Metals. “Given the strong exploration results and the company’s successful equity financing, Galway has increased its 2020 drilling budget at Clarence Stream to 25,000 metres, up from 15,000 metres previously. Galway Metals believes that Clarence Stream is an emerging new gold district in eastern Canada.”

Clarence Steam is located 70 km southwest of Fredericton and hosts intrusion-related quartz vein hosted gold mineralization. The project contains measured and indicated resources (open pit and underground) of 6.2 million tonnes averaging 1.96 g/t gold for 390,000 oz. gold. Inferred resources add 3.4 million tonnes grading 2.53 g/t gold for 277,000 oz.

For complete assay results, visit www.galwaymetalsinc.com.