Galway Metals New Discovery Gets Bigger: 0.7 g/t Au over 48.8m, Located Above 2.2 g/t Au over 11.9m and 300m East of 2.1 g/t Au over 7.6m
Galway Metals New Discovery Gets Bigger: 0.7 g/t Au over 48.8m,
Located Above 2.2 g/t Au over 11.9m and 300m East of 2.1 g/t Au over 7.6m
(Toronto, Ontario, February 20, 2017) - Galway Metals Inc. (TSX -V: GWM) (the "Company" or
“Galway”) is pleased to announce additional intersections from the new discovery of mineralization at
Clarence Stream in SW New Brunswick, 2 km east of the Jubilee Zone and 4 km west of the South Zone—
known as the George Murphy Zone. There are now f our drill holes that have intersected two sections, with
three on one section and one on the other . The n ew intersect of 0.7 grams per tonne (g/t) gold (Au) over
48.8 metres (m) (hole GWM18CL -15) is on one section and is located 63.5 to 98 metres above the
previously reported intersect of 2.2 g/t Au over 11.9m (GWM17CL -04) and 93 metres north of the
previously reported intersect of 5.3 g/t Au over 0.5m (GWM17CL -05-visible gold present). The other
section was identified by the new intersect of 2.1 g/t Au over 7.6m ( GWM17CL-02), which is located 300
metres west of the 5.3 g/t Au over 0.5m , and there has not yet been any drilling in between (Figure 1 and
Figure 2 ). Drill hole GWM18 CL-17 has been drilled below hole GWM17CL -02 and intersected visible
gold at downhole depths of 63.30m and 134.60m, with assays pending. The latter intersection likely
correlates with the 2.1 g/t over 7.6m in hole GWM17CL-02 located 65m above. The initial release of
rushed assays from this new discovery on December 18, 2017 only reported partial assay results from the
first five holes.
Robert Hinchcliffe, President and CEO of Galway Metals, said, “Galway is poised to unlock the
exploration potential of its vast land package, where soil sampling works very well to identify major
deposits, just as it does in N evada, the Yukon, and many other places around the world. The exploration
priority going forward will be to continu e following the trends along which the four deposits to date have
been found. Having wide intersections in new discoveries that are really shallow —in this case at 22 metres
below surface—c an add value quickly. We’ve been at Clarence Stream for eighteen months, have already
reported over a 50% increase in the gold resource . We are excited about the next eighteen months and the
prospect of building a new gold district in New Brunswick.”
New Discovery Drill Results
0.7 grams per tonne (g/t) gold (Au) over 48.8 metres (m), including 5.6 g/t Au over 1.0 m, plus 4.2
g/t Au over 0.8 m, plus 3.2 g/t Au over 1.3 m, plus 2.5 g/t Au over 1.5 m, plus 2.1 g/t Au over 1.0 m,
plus 2.0 g/t Au over 0.8 m, plus 1.6 g/t Au over 0.9 m, starting and ending at vertical depths of 22.0
m and 56.5 m, respectively, in hole GWM18CL-15
2.1 g/t Au over 7.6 m, including 6.3 g/t Au over 1.0 m , starting at a vertical depth of 56.5 m in hole
GWM17CL-02
The new discovery was found by drilling in the immediate vicinity of a 700m long soil anomaly where
boulders containing gold were found by prospector George Murphy. There appears to be at least two zones
that trend the s ame NE-SW direction as the Jubilee and South Zones. On September 26, 2017 , Galway
issued a resource update at Clarence Stream, which now includes pit-constrained resources of 352,200
ounces of Measured and Indicated plus 153,100 ounces of Inferred, each at 1.9 g/t gold. The underground
gold resource contains an additional 37,800 ounces at 4.4 g/t of Measured and Indicated plus 124,100
ounces at 4.5 g/t of Inferred (estimate prepared by SRK Consulting (U.S.), Inc.). The George Murphy and
Jubilee zones are not part of the property resource.
Hole GWM18CL-15 intersected multiple zones of quartz. The intersection of 0.7 g/t over 48.8m is located
at 63.5 to 98 metres above the 2.2 g/t over 11.9m in hole GWM17CL-04. Further down hole GWM 18CL-
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15, quartz zones are found at 137 - 147m, 219 - 230m, and 251 - 258m for which assays are pending. One
of these appears to co rrelate with the 5.3 g/t Au over 0.5m in previously- released hole GWM17CL -05
where visible gold was present.
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- 5% 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. 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 15, 4 and 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. Like the North Zone, this new discovery is located north of the Sawyer Brook
Fault.
New Discovery Assays- North
Hole ID From
(m)
To
(m)
Intercept
(m)
Au
g/t
CL17-02 41.00 43.10 2.10 0.9 **
49.20 51.30 2.10 1.7 **
57.50 59.45 1.00 1.5 **
123.15 126.00 2.85 0.6
78.90 86.50 7.60 2.1
including 80.00 81.00 1.00 6.3
CL17-04 170.50 182.30 11.90 2.2 **
including 170.50 171.60 1.20 12.4 **
224.60 225.50 0.90 1.3 **
146.00 146.75 0.75 1.1
151.00 152.50 1.50 2.9
161.60 164.00 2.40 0.8
CL17-05 238.50 250.80 12.30 0.6 **
including 238.50 239.60 1.10 1.6 **
including 248.30 248.80 0.50 *5.3 **
CL17-07 295.25 296.75 1.50 0.7
CL18-15 31.00 79.75 48.75 0.7
including 33.40 34.20 0.80 4.2
including 37.70 38.45 0.75 2.0
including 50.00 51.00 1.00 5.6
including 61.50 62.40 0.90 1.6
including 63.50 65.00 1.50 2.5
including 74.00 75.00 1.00 2.1
including 78.45 79.75 1.30 3.2
*VG (visible gold) —a ssayed by metallic screens method. **Previously released. Drill holes 1 and 3
contained anomalous assays up to 348 ppb; No upper cutoff grade was applied; 0.42 g/t Au was used for
the bottom cut -off; True widths are unknown, but if the dips are vertical as interpreted, then it would be
70% of down-hole width.
Holes GWM17CL -06 and 08 to 14 were drilled south of the discovery to check for the presence of the
South Zone, which is south of the Sawyer Brook Fault . Some low-grade intersections were returned but the
South Zone has not yet definitively been found in this area . Hole GWM18CL-13 contains a 63.1 metre
section of veined and stockwork quartz veining with 1- 3% sulphides but the best assay is only 0.6 g/t over
0.5m, while hole GWM17CL -10 contained a 1 metre quartz vein near a sediment -gabbro contact
(characteristic of the South Zone) with 1-3% sulphides that didn’t run.
New Discovery Assays- South
Hole ID From
(m)
To
(m)
Intercept
(m)
Au
g/t
CL17-09 212.85 213.50 0.65 0.4
224.00 225.00 1.00 0.4
258.65 259.65 1.00 0.4
303.00 306.00 3.00 pending
CL17-10 266.50 268.00 1.50 1.5
CL18-13 216.50 217.00 0.50 0.6
254.00 255.00 1.00 0.5
274.25 275.25 1.00 0.5
CL18-14 51.00 52.00 1.00 0.5
No upper cutoff grade was applied; 0.42 g/t was used for the bottom cut -off; Holes GWM17CL-06, 08, 11,
12 did not return significant assays. True widths are unknown.
Investors are welcomed to visit Galway's team during the PDAC at Booth 2623A on Sunday and Monday,
March 4th and 5th, and at the Core Shack on Tuesday and Wednesday, March 6th and 7th.
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 samples are assayed for gold by Fi re 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)
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
CL17-06 180 -45 5022265 654445 198
CL17-07 0 -45 5022406 654579 318
CL17-08 180 -45 5022112 654939 201
CL17-09 180 -45 5021895 655186 315
CL17-10 180 -45 5021920 655188 296
CL17-11 180 -45 5021880 655273 396
CL17-12 0 -45 5022024 655068 231
CL18-13 0 -45 5022063 654726 309
CL18-14 0 -45 5022124 654716 252
CL18-15 180 -45 5022579 654432 399
CL18-16 180 -45 5022630 654480 318
CL18-17 350 -60 5022199 654240 314
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 succ essful 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
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This news release contains forward -looking information which is not comprised of historical facts. Forward -looking
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exploration results, potential mineralization, exploration a nd mine development plans, timing of the commencement
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such forward -looking information include, but are not limited to, exploration results being less favourable than
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