Galway Metals Intersects 13.0 g/t Au Over 8.7 Metres, Including 201.0 g/t Au Over 0.5 Metres in the GMZ at Clarence Stream
Galway Metals Intersects 13.0 g/t Au Over 8.7 Metres, Including 201.0 g/t Au Over 0.5 Metres in the GMZ at
Clarence Stream
TORONTO, ON / ACCESSWIRE / February 28, 2019 / Galway Metals Inc. (TSX-V: GWM) (the "Company" or
''Galway'') is pleased to report that drilling at its George Murphy Zone (GMZ) at the Clarence Stream Gold Project in
SW New Brunswick has intersected 13.0 grams per tonne (g/t) Au Over 8.7 Metres (m), including 201.0 g/t Au
Over 0.5m. This hole, CL18-36, contained significant visible gold and was located 40 metres above previous hole
CL18-26 that returned 241.5 g/t Au over 4.2m, including 807.0 g/t Au over 1.25m. Drilling has also extended the
western limit and depth of the zone. Hole CL18-33, which intersected 7.2 g/t Au over 2.75m, including 35.0 g/t Au
over 0.55m, extended the zone to the west, while holes CL18-34 and CL18-35, which intersected 2.1 g/t Au over
15.7m, and 1.6 g/t Au over 14.0m, respectively, extended the zone to depth. (Figure 1 and Figure 2).
''While we are eagerly awaiting additional drill results from our new Richard Zone discovery located 1km to the west,
we are very pleased that the George Murphy Zone, which Galway initially reported as our first new discovery in
December 2017, is growing and contains significantly high-grade shoots; the 201 g/t nicely corroborates the previous
result of 807 g/t,'' cites Robert Hinchcliffe, President and CEO of Galway Metals.
Highlights
• CL18-36: 13.0 g/t Au over 8.7m at a vertical depth of 36m below surface, (including 201.0 g/t Au over
0.5m), plus 5.7 g/t Au over 1.0m
• CL18-35: 1.6 g/t Au over 14.0m at a vertical depth of 181m below surface, (including 9.5 g/t Au over
0.65m-VG, and 3.1 g/t Au over 1.25m); plus 1.5 g/t Au over 2.3m; plus 1.0 g/t Au over 2.0m
• CL18-34: 2.1 g/t Au over 15.7m at a vertical depth of 66m below surface, (including 12.6 g/t Au over 0.6m,
and 3.1 g/t Au over 1.25m)
• CL18-33: 7.2 g/t Au over 2.75m at a vertical depth of 107m below surface, (including 35.0 g/t Au over
0.55m)
The George Murphy Zone - A Shoot Hosting 2 Multi-Hundred Gram Intersects; Zone Extended West and to
Depth
The GMZ is located 2.0 km and 1.0 km east of the Jubilee and Richard Zones, respectively, and 4 km west of the
South Zone. The 201.0 g/t Au over 0.5m intercept in hole 36 (within an intercept that graded 13.0 g/t Au over 8.7m),
is located 23m west of and 34m above the previously-reported intersection of 807.0 g/t Au over 1.25m from hole
CL18-26 (within an intercept that graded 241.5 g/t Au over 4.2m). The 13.0 g/t Au over 8.7m also includes 10.50 g/t
Au over 0.75m.
The proximity to each other of two multi-hundred-gram intersections strongly suggests that a subvertical ''shoot''
exists. The identification of a shoot-like geometry is typical for gold deposits elsewhere in the world in orogenic gold
systems. These mineralized shoots are important to the economics of deposits, and they tend to be continuous for
long distances along their plunge. Hole 33, with an intersection of 7.2 g/t Au over 2.75m, extends the GMZ 10m west
and 40m below hole 29, which intersected 1.9 g/t Au over 22.0m (including 16.9 g/t Au over 1.3m), which previously
represented the western-most limit of the zone. Drilling has also extended the depth of the zone in this area with
intersections of 2.1 g/t Au over 15.7m in hole 34, and 1.6 g/t Au over 14.0m in hole 35, with the intersect in hole 35
situated 75m below the 1.3 g/t Au over 10.3m in hole 17. Assays are pending for portions of holes 34 and 35.
The gold bearing structures at the GMZ have been drilled to a maximum of 265m vertical, although most drilling is
down only to 130m. The GMZ is 500m long, with multiple zones over 160m horizontal, and with all zones open in
every direction. Based on closely spaced drill holes on the east and west ends of the deposit, the zones appear to dip
steeply to the south. The current interpretation may be subject to change; a small roll in the Main zone strike may be
due to a fold, a fault offset, or there may be separate zones. In an effort to expand the GMZ further, additional drilling
along the periphery of structures will take place following additional drilling of the Jubilee and Richard Zones.
Assays Remain Pending in the GMZ and Richard Zones
Assays remain pending on portions of holes CL18-34 and CL18-35 in the GMZ. Assays are also pending for portions
of holes BL19-13 and BL19-15, and the entirety of hole BL19-14 in the new Richard Zone discovery that is centered
between the George Murphy and Jubilee Zones, approximately 1.0 km from each (Figure 3). Assays previously
reported from the Richard Zone were 7.3 g/t Au over 36.65m, including 38.1 g/t Au over 6.5m in multiple quartz
veins containing abundant visible gold starting 36 metres vertical in hole BL18-12, and 5.4 g/t Au over 11.0m,
including 20.9 g/t Au over 2.55m in hole BL19-15. This intersection contained quartz veining and visible gold in two
places located approximately 50 metres horizontally NW of and 97 metres vertically below (133 metres total vertical
depth) the initial discovery in hole BL18-12 (Figure 1).
The new Richard Zone discovery in holes BL18-12, BL19-13 and BL19-15 (February 26, 2019) represents the
2nd deposit that Galway has found since the Company began drilling Clarence Stream in October 2016 (the GMZ was
the other), and the fifth deposit identified in the Clarence Stream district to date. Only two of these five deposits, the
North and South Zones, are in the existing resource (September 26, 2017), which is scheduled to be updated in
2019. All five deposits remain wide open for expansion.
Come and see us at the PDAC!
Core of VG from Clarence Stream and core from Estrades/Newiska will be on display at Galway's PDAC Booth
#2623A on Sunday and Monday, March 3rd and 4th.
Table 1. Assay Results
Hole ID From
(m)
To
(m)
Intercept
(m)
Intercept
(m) TW
Au
g/t
GWM18CL-36 35.8 36.9 1.1
0.4
47.0 48.1 1.1
1.2
54.3 63.0 8.7 7.1 13.0
incl. 58.7 59.2 0.5 0.4 201.0 VG
incl. 60.0 60.8 0.8 0.6 10.5
229.0 230.0 1.0
5.7
GWM18CL-26 ** 88.5 91.0 2.6 1.33 0.6
102.8 107.0 4.2 2.2 241.5
102.8 104.1 1.3 0.7 807.0 VG
GWM18CL-35 119.1 205.0
PENDING
207.0 221.0 14.0 8.6 1.6
incl. 212.5 213.2 0.7 0.4 9.5
incl. 214.5 215.8 1.3 0.8 3.1
229.2 231.5 2.3
1.5
238.0 240.0 2.0
1.0
275.2 369.0
PENDING
GWM18CL-34 69.2 84.9 15.7 8.3 2.1
incl. 79.5 80.1 0.6 0.3 12.6
110.5 210.8
PENDING
GWM18CL-33 123.6 126.4 2.8 1.4 7.2
incl. 123.6 124.2 0.6 0.3 35.0
140.2 141.5 1.3
0.7
156.0 156.9 0.9
0.5
166.7 167.2 0.5
0.5
202.8 204.0 1.2
0.5
** Previously released; VG = visible gold. 0.42 g/t Au was used for the bottom cut-off; True widths are unknown if not
noted; The interval from 124.15-126.35m in hole 33 was added in because it is visually part of and cannot be
distinguished from the mineralized zone.
Geology and Mineralization
In general, mineralization at Clarence Stream consists of 10-70% quartz stockworks and veins with 1-5% fine pyrite
plus pyrrhotite plus arsenopyrite in sericite altered sediments. A more complete description of Clarence Stream's
geology and mineralization can be found at www.galwaymetalsinc.com.
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, and the drilling of this new discovery.
Review by Qualified Person, Quality Control and Reports
Michael Sutton, P.Geo., is the Qualified Person who supervised, read and approved 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, 41 Bittern Street, Ancaster, Ontario, 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 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%. The soil anomalies may not be
representative of the mineralization hosted on the property.
Table 2: Drill Hole Coordinates
Hole ID Azimuth Dip Northing Easting Total Depth (m)
GEORGE MURPHY ZONE
GWMCL18-33 260 -60 5022185 654232 363
GWMCL18-34 290 -65 5022186 654232 213
GWMCL18-35 293 -62 5022185 654311 267
GWMCL18-36 320 -45 5022348 654316 241
For results of all holes that Galway has drilled at Clarence Stream, go to Galway's website
at www.galwaymetalsinc.com.
Figure 1: Plan Map of the George Murphy Zone
Figure 2: Grade x Thickness Long Section of the Main Structure in the George Murphy Zone
Figure 3: Location of the New Discovery Zone and the 56.2 g/t Au Grab Sample
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 VMS 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
www.galwaymetalsinc.com
CAUTIONARY STATEMENT
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TSX Venture Exchange) accepts responsibility for the adequacy of this news release. No stock exchange, securities
commission or other regulatory authority has approved or disapproved the information contained herein.
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.
SOURCE: Galway Metals Inc.