Galway Metals New Discovery: 2.2 g/t Au over 11.9m
Galway Metals New Discovery: 2.2 g/t Au over 11.9m
(Toronto, Ontario, December 18, 2017) - Galway Metals Inc. (TSX-V: GWM) (the "Company" or “Galway”) is pleased
to announce a new discovery of mineralization 2 km east of the Jubilee Zone, and 4 km west of the Clarence Stream
South Zone. Partial assay results from the first five holes (831m) include 2.2 grams per tonne of gold over 11.9m (hole
GWM17CL-04), and 5.3 grams per tonne of gold over 0.5m (GWM17CL-05-visible gold present). These intersections
are located at 120m and 175m below surface, respectively.
Robert Hinchcliffe, President and CEO of Galway Metals, said, “Discovering yet another new zone of mineralization
is extremely positive for our project. So far, every soil anomaly tested to date overlies mineralization. This increases
the urgency to test the numerous other soil anomalies, many of which are stronger than those found above the four
zones of mineralization found to date.”
New Discovery Drill Results
• 2.2 grams per tonne (g/t) gold (Au) over 11. 85 metres (m), including 12.4 g/t Au over 1.15 m, plus 1.3 g/t
Au over 0.85 m, starting at vertical depths of 120.0 m and 159.0 m, respectively, in hole GWM17BL-04
• 0.6 g/t Au over 12.3 m , including 5.3 g/t Au over 0.5 m , starting at a vertical depth of 175.0 m in hole
GWM17BL-05
• 1.7 g/t Au over 2.1m, 1.5 g/t Au over 1.0m, and 0.9 g/t Au over 2.1m, all in a 17.5m quartz zone starting at
vertical depth of 29.0 m in hole GWM17BL-02
The new discovery was found by drilling in the immediate vicinity of a 700m long soil anomaly where boulders were
found by George Murphy (prospector) that contained gold. There appears to be two zones that trend the same direction
as the Jubilee and Clarence South Zones. The dip is uncertain but the angles of the quartz veins to the core is 30-70
degrees. The mineralization consists of 10-70% quartz stockworks and veins with 1-2% fine pyrite plus pyrrhotite plus
arsenopyrite in sericite altered sediments. Of note is the existence of a massive zone of quartz (70-100% generally) in
hole 3 from 16-47m that only assayed anomalously. This new zone will be named the George Murphy Zone. Figure 1
shows the location of the new discovery relative to other zones and soil anomalies. Figure 2 shows the holes and the
300m gap in drilling between the zones in holes 4-5 and the zones in holes 1-3. 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. Unlike the South Zone and Jubilee Zone, this new dis covery is
located north of the Sawyer Brook Fault. Galway will drill immediately, to determine continuity of this new zone
toward surface, filling in the 300m gap and along strike.
New Discovery Assays
Hole ID From To Intercept Au
(m) (m) (m) g/t
CL17-02 41.0 43.1 2.1 0.9
49.2 51.3 2.1 1.7
57.5 59.45 1.0 1.5
CL17-04 170.5 182.3 11.9 2.2
including 170.5 171.6 1.2 12.4
224.6 225.5 0.9 1.3
CL17-05 238.5 250.8 12.3 0.6
including 238.5 239.6 1.1 1.6
including 248.3 248.8 0.5 *5.3
*VG (visible gold)- assayed by metallic screens method. Drill holes 1 and 3 contained anomalous assays up to 348
ppb; No upper cutoff grade was applied; 0.42 g/t was used for the bottom cut-off; True widths are unknown.
Assays have also been received from Galway’s 11-hole, 1,766-metre drill program designed to follow up on previous
gold intersections reported by Jubilee Gold and Union Gold. Partial assays from the first two were previously reported
on October 12, 2017.
82 Richmond Street East Tel: 800-771-0680
Toronto, ON M5C 1P1 Fax: 416-361-0923
Jubilee Assays
Hole ID From To Intercept Au
PB ZN
(m) (m) (m) g/t (%) (%)
GWM17BL-01 5.8 41.0 35.2 0.9
including 7.0 8.0 1.0 2.1
including 13.0 14.3 1.3 3.4
including 27.0 28.0 1.0 1.9
including 40.0 41.0 1.0 *8.2
56.5 69.0 12.5 0.7
including 61.0 62.0 1.0 1.3
including 64.0 65.0 1.0 1.5
including 67.0 68.0 1.0 1.7
85.9 87.0 1.1 1.5
150.0 152.0 2.0 1.0 0.5
158.0 160.0 2.0 1.1 0.7
GWM17BL-02 8.9 12.0 3.2 0.6
29.2 39.7 10.6 0.8
49.5 51.5 2.0 1.9
67.9 71.0 3.1 14.5
including 68.9 70.0 1.1 41.7
GWM17BL-03 44.3 49.5 5.2 0.8
48.4 49.5 1.1 1.9
91.7 93.7 2.0 1.8
GWM17BL-04 66.8 90.9 24.1 0.5
including 72.0 73.0 1.0 1.3
including 87.7 90.9 3.3 1.6
GWM17BL-05 55.9 64.0 8.1 1.0
including 55.9 57.3 1.4 3.5
82.0 100.7 18.7 0.5
including 83.1 84.2 1.1 1.4
including 99.5 100.7 1.2 2.2
GWM17BL-06 49.2 50.5 1.3 8.0
93.8 95.0 1.3 2.2
GWM17BL-07 47.9 56.0 8.1 0.6
including 47.9 49.1 1.2 1.7
including 55.0 56.0 1.0 1.5
73.9 81.2 7.3 1.5
including 76.3 77.6 1.3 4.4
104.0 109.0 5.0 0.8
109.0 110.3 1.3 2.1
GWM17BL-08 56.9 59.5 2.6 2.8
including 58.3 59.5 1.2 5.2
GWM17BL-10 77.5 80.5 3.1 2.1
including 77.5 78.0 0.6 6.9
99.0 100.3 1.3 4.5
GWM17BL-11 38.05 45.6 7.6 0.3
45.6 54.0 8.4 0.8
81.0 84.8 3.8 1.3
*erroneously previously reported as 8.9; hole 9 had no significant value ; No upper cutoff grade was
applied; 0.42 g/t was used for the bottom cut-off; True widths are unknown
At least three horizons of mineralization appear to be present. In general, the zones appear to trend in the same direction
as the South Zone, and it appears that the zones could be dipping to the South at ~45°. Figure 3 shows the locations of
the new intersections.
Jubilee Geology and Mineralization
Jubilee geology and mineralization can be found on Galway’s website at www.galwaymetalsinc.com.
Review by Qualified Person, Quality Control and Reports
Michael Sutton, P.Geo., 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, 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 sa mples 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%.
Hole ID Azimuth Dip Northing Easting Total Depth (m)
Jubilee Drilling
GWM17BL-01 300 -45 5020862 652653 195
GWM17BL-02 303 -65 5020862 652654 183
GWM17BL-03 270 -45 5020912 652702 177
GWM17BL-04 293 -58 5020912 652702 144
GWM17BL-05 267 -45 5020945 652756 132
GWM17BL-06 288 -58 5020946 652756 120
GWM17BL-07 230 -45 5020945 652758 132
GWM17BL-08 353 -55 5020947 652759 156
GWM17BL-09 87 -58 5020945 652761 129
GWM17BL-10 175 -75 5020943 652759 144
GWM17BL-11 300 -45 5020946 652758 300
George Murphy Zone
CL17-01 180 -45 5022235 654218 210
CL17-02 350 -45 5022212 654238 180
CL17-03 0 -45 5022312 654190 192
CL17-04 0 -45 5022395 654420 246
CL17-05 0 -45 5022250 654438 255
About the Company
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. The Company began trading
on January 4, 2013, after the 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.
Figure 1 PLAN VIEW
Figure #2 NEW DISCOVERY
Figure #3
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
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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,
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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 occ ur in the disclosed time frames or at
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herein, whether as a result of new information, future events or otherwise, except as required by app licable securities
laws.