Galway Metals Drills Oak Bay for the First Time – First Hole Returns 6.0 g/t Au over 3.3m with Follow-Up Holes Extending this New Zone 110 Metres at Clarence Stream
Galway Metals Drills Oak Bay for the First Time – First Hole Returns 6.0 g/t Au over 3.3m with
Follow-Up Holes Extending this New Zone 110 Metres at Clarence Stream
(Toronto, Ontario, October 27, 2021) - Galway Metals Inc. (TSX-V: GWM, OTCQB: GAYMF) (the "Company"
or “Galway”) is pleased to report that it has begun drilling on the Oak Bay property that was optioned in July,
2020 (Figure 1). Mineralization at Oak Bay a nd neighbouring Lily Hill consists of arsenopyrite -rich quartz
veining in altered, silicified gabbro dykes in contact with sediments , both of which are mineralized – a similar
geological setting to the South Zone. The South Zone is located 19 km to the east of Oak Bay and currently hosts
the majority of Clarence Stream’s gold resource. The zone at Oak Bay has now been drill-delineated with strong
consistent intersections over 110m of horizontal distance (strike length) (Figure 2). The zone is open in every
direction. Most of the assays further down each hole are pending, as are holes 5-8 and 10-13.
Highlights for Galway’s initial drill program at Oak Bay include:
• Hole OB-01 intersected 6.0 g/t Au over 3.3m, including 9.3 g/t Au over 1.1m, starting at a vertical depth
of 13.8m
• Hole OB-02 intersected 2.2 g/t Au over 0.8m, starting at a vertical depth of 18.2m
• Hole OB-03 intersected 2.3 g/t Au over 6.65m , including 6.7 g/t Au over 0.6m , starting at a vertical
depth of 5.4m
• Hole OB-04 intersected 1.6 g/t Au over 4.65m, starting at a vertical depth of 6.2m
• Hole OB-09 intersected 3.5 g/t Au over 4.2m, including 8.6 g/t Au over 0.6m, starting at a vertical depth
of 31.8m
• Hole OB-14 intersected 5.1 g/t Au over 1.15m, starting at vertical depths of 4.2m
• Hole OB-15 intersected 4.0 g/t Au over 2.35m, starting at a vertical depth of 3.7m
• ** OB05-07 intersected 5.2 g/t Au over 2.5 m, including 11.8 g/t Au over 0.5m, starting at a vertical
depth of 13.2m
• ** OB05-03 intersected 1.9 g/t Au over 5.5m, including 8.1 g/t Au over 0.5m, starting at a vertical depth
of 50.2m
**Historic drill holes previously released by other operators
“We have been saying that Galway believes Clarence Stream is an important new gold district in North America
– with every new discovery, this is becoming more self-evident. Now that drilling for the upcoming resource has
been completed, Galway plans to accelerate its drilling of the many gold anomalies to further demonstrate
Clarence Stream’s district scale. Galway plans to release the Clarence Stream resource update in Q4/21,”
cites Robert Hinchcliffe, President and CEO of Galway Metals.
The 19 km Between Oak Bay and the South Zone is Highly Prospective
Between Oak Bay and the South Zone is a large multi-phase Gabbro Complex. The mineralized gabbro dykes at
Oak Bay and the South Zone are thought to have originated from this complex. Galway has not yet drilled the
gabbro complex or the 19 km between Oak Bay and the South Zone, except for the 3km trend further north that
hosts the Adrian, George Murphy, Richard and Jubilee Zones (Figure 3).
The gabbro complex and the area north of it between Oak Bay and the South Zone hosts two of the three highest-
grade glacial till anomalies (95 and 86 ppb Au) at Clarence Stream, extensively anomalous gold-in-soil anomalies
that extend several km in both NE and NW directions, and boulders and chip samples up to 35.5 and 16.3 g/t Au.
Galway plans to follow-up on the initial drill program at Oak Bay, and to drill several of the targets in this highly
anomalous 19 km gap, as well as the gabbro complex in 2022.
82 Richmond Street East Tel: 800-771-0680
Toronto, ON M5C 1P1 Fax: 416-361-0923
Oak Bay and Lily Hill Host High-Grade Boulders and Chip Samples up to 43.0 g/t Au
The Oak Bay claims are host to widespread boulders with grades up to 18.0 g/t Au, while Lily Hill has chip
samples to 43.0 g/t Au. Lily Hill is another optioned property just SE of Oak Bay, containing similar geology;
hole LH07-01 (drilled in 2007 by previous operators ) intersected 3.7 g/t Au over 3.0m , which has not been
followed up since, where a 23.6m Gabbro dyke is entirely mineralized, with the zone in a contact breccia. Strong
linear gold soil anomalies at Oak Bay are present grading up to 882 ppb Au, which is in the top 10 of the
approximately 50,000 soil samples taken at Clarence Stream, while Lily Hill has soil values to 190 ppb Au.
Cordierite alteration is present in the sediments that consist of siltstones and slate.
The Sawyer Brook Fault , the main conduit for gold- bearing fluids at Clarence Stream , is located close to the
drilling at Oak Bay and Lily Hill. Oak Bay contains a 2km north-south horizontal (strike) length of drill holes
(refer to August 25, 2020 press release ) with mineralized gabbro along a magnetic high (gabbro is slightly
magnetic whereas sediments are not) , which continues north 5.0km to the Tower Hill showing that assayed as
high as 89.1 g/t along a gabbro-sediment contact.
There is a 10 km+ long intrusion flanking the Oak Bay to Tower Hill area to the west; Clarence Stream is thought
to be an intrusion-related gold system. All intrusions at Clarence Stream are encircled by one or more of gold-in
glacial tills, soils, boulders and/or chip samples , all of which exist along this 10 km+ Oak Bay to Tower Hill
trend.
Table 1. Assay Results
Hole ID From
(m)
To
(m)
Intercept
(m)
Intercept
(m) TW
Au
g/t
GWM21OB-01 19.90 23.20 3.30 6.0
GWM21OB-02 21.00 21.80 0.80 2.2
210.00 257.70 pending
GWM21OB-03 7.80 14.45 6.65 2.3
including 7.80 8.60 0.60 6.7
including 12.95 13.80 0.85 4.9
52.55 105.25 pending
174.50 364.40 pending
GWM21OB-04 7.25 11.90 4.65 1.6
213.00 255.00 pending
GWM21OB-09 7.90 12.85 pending
21.20 29.00 pending
32.30 36.50 4.20 3.5
including 34.55 35.15 0.60 8.6
38.05 115.75 pending
154.30 212.55 pending
GWM21OB-14 6.20 7.35 1.15 5.1
8.10 240.0 pending
GWM21OB-15 5.35 7.70 2.35 4.0
45.80 320.45 pending
Hole ID From
(m)
To
(m)
Intercept
(m)
Intercept
(m) TW
Au
g/t
OB05-07 18.70 21.20 2.50 5.2 **
including 20.20 20.70 0.50 11.8 **
including 20.70 21.20 0.50 8.2 **
OB05-03 71.00 76.50 5.50 1.9 **
including 73.00 73.50 0.50 8.1 **
LH07-01 23.50 26.50 3.00 3.7 **
6.50 23.50 17.00 0.15 **
True widths are unknown if not noted (dip uncertain until drilled deeper). **Historic drill holes previously released by other
operators
New Brunswick Junior Mining Assistance Program
Galway would like to acknowledge financial support from the New Brunswick Junior Mining Assistance Program, which
partially funded drilling of the GMZ, Jubilee, and Richard Zones.
Geology and Mineralization
The 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. The Richard Zone contains multiple zones of quartz veining with sulfides
and sericite alteration. In general, mineralization at Clarence Stream consists of 10-70% quartz stockworks and veins with
1-5% fine pyrite plus pyrrhotite plus arsenopyrite plus stibnite in sericite altered sediments. The Jubilee mineralization
consists of 2% -5% disseminated pyrite, sphalerite, galena, arsenopyrite, chalcopyrite, and pyrrhotite in sediments with
white to smoky grey quartz veining. Locally there is up to 10% sphalerite and semi -massive galena veinlets. The 2.5
km trend that hosts the GMZ, Richard and Jubilee Zones contains a mineralized mafic intrusive locally – similar to the
South Zone, which currently hosts most of the property’s last reported gold resources (September 2017). A more complete
description of Clarence Stream’s geology and mineralization can be found at www.galwaymetalsinc.com.
Review by Qualified Person, Quality Control and Reports
Michael Sutton, P.Geo., Director and VP of Exploration for Galway Metals, is the Qualified Person who supervised the
preparation of the scientific and technical disclosure in this news release on behalf of Galway Metals Inc. All core,
chip/boulder samples, and soil samples are assayed by Activation Laboratories, l ocated at 41 Bittern Street, Ancaster,
Ontario, Canada, Agat Laboratories, located at 5623 McAdam Road, Mississauga Ontario, Canada L4Z 1N9 and 35 General
Aviation Road, Timmins, ON P4P 7C3, and/or Swastika Laboratories situated in Swastika, ON . All four labs 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 QA/QC 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 five percent (5%) 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%.
Table 2: Drill Hole Coordinates
Hole ID Azimuth Dip Northing Easting Total Depth (m)
GWMOB-01 90 -45 5012085 641184.6 111
GWMOB-02 90 -65 5012085 641184.7 261
GWMOB-03 90 -45 5012114 641180.1 369
GWMOB-04 90 -60 5012114 641179.6 255
GWMOB-09 90 -80 5012126 641228.5 243
GWMOB-14 90 -45 5012036 641198 246
GWMOB-15 90 -60 5012036 641198 345
Hole ID Azimuth Dip Northing Easting Total Depth (m)
OB05-03 275 -45 50121080 641248 99
OB05-07 90 -45 50122100 641190 28
LH07-01 345 -45 5010878 642895.7 53
For results of all holes that Galway has drilled at Clarence Stream, go to Galway’s website at www.galwaymetalsinc.com.
Figure 1: Gold in Glacial Till and Soil at Clarence Stream
Figure 2: Tower Hill, Oak Bay and Lily Hill Plan Map
Figure 3: Oak Bay and Lily Hill Plan Map
About the Company
Galway Metals is well capitalized with two projects in Canada: Clarence Stream, an emerging gold district in New
Brunswick, and Estrades, the former producing, high- grade, gold-rich VMS polymetallic mine in Quebec. The Company
began trading on January 4, 2013, after its successful spinout to existing shareholders from Galway Resources following
the completion of the US$340 million sale of that company. With substantially the same management team and Board of
Directors, Galway Metals is keenly intent on creating similar value as it had with Galway Resources.
Should you have any questions and for further information, please contact (toll free):
Galway Metals Inc.
Robert Hinchcliffe
President & Chief Executive Officer
1-800-771-0680
Website: www.galwaymetalsinc.com
Email: [email protected]
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