Galway Metals Purchases Additional Claims at its Estrades Gold, Zinc, Copper and Silver VMS Property in Quebec, Canada
Galway Metals Purchases Additional Claims at its Estrades Gold, Zinc, Copper and
Silver VMS Property in Quebec, Canada
TORONTO, ON / ACCESSWIRE / February 5, 2018 / Galway Metals Inc. (TSX-V: GWM; OTC
PINK: GAYMF) (the ''Company'' or ''Galway'') is pleased to announce that it has purchased 14 additional
claims adjacent to its Estrades polymetallic VMS property located in the northern Abitibi of western
Quebec, Canada. The claims are located along the Newiska felsic rhyolite horizon that has had
intersections such as 1% copper plus 42 g/t silver over 9.4 metres (true width unknown). The acquired
claims are located immediately south of the Estrades mine and existing resource, and includes a regional
cross fault that may be an important mineralized feature in the camp. Galway's claims surround the new
claims to the north, east and west. As such, the acquisition will allow for a full, uninterrupted gravity
geophysical survey that is planned for March, as well as other exploration activities over time, along the
full 16km extent of the Company's Newiska horizon. The newly acquired claims and area of the
geophysical surveys can be seen in Figure 1.
In January, Galway began its 13,000-metre drill program for 2018, which will target extensions to the
Estrades resource, deep drilling below the resource and drilling at Newiska. Galway currently has three
geophysical programs underway or planned during this winter's exploration program. Results from these
three programs will be used, in conjunction with the approximately 200,000 metres of historic drilling, to
assist Galway in prioritizing its drill program in the Company's search for new mineralized intrusives
throughout the property. The geophysics will also allow Galway to identify high chargeability anomalies
to depths of up to 2,000 metres in the Company's search for sulphidic-rich source vents below the existing
Estrades resource and elsewhere on the 20,000+ hectare property. The three geophysical programs
include the following:
The reprocessing of a Titan induced polarization (IP) and electromagnetic (EM) survey conducted
in 2007 over the Main Zone at Estrades, using improved proprietary software from Quantec
Geoscience. This is scheduled for February 2018.
Conduct a new Titan IP and EM survey over large portions of both the Estrades and Newiska
horizons in search of copper-rich vent sources for VMS. This is scheduled for February 2018.
Conduct a gravity survey over all three mineralized horizons - Casa Berardi,
Estrades and Newiska, in search of high density massive sulphide deposits and buried intrusives
that could be sources of hydrothermal fluids. This is scheduled for March 2018.
The claims were purchased from Radisson Mining Resources Inc. (RDS) for 150,000 Galway Metals
shares plus 75,000 share purchase warrants exercisable during a two-year period from the day of closing
at $0.50 per warrant. The shares and warrants have a four-month plus one-day hold period. The
transaction is subject to TSX-V approval. For more information on Galway's Estrades and Clarence
Stream projects please go to www.galwaymetalsinc.com.
Review by Qualified Person, Quality Control and Reports
In compliance with National Instrument 43-101, Mr. Mike Sutton, P.Geo. is the Qualified Person
responsible for the accuracy of this news release. The drill core is sawn in half with one half of the core
sample shipped to Swastika Laboratories situated in Swastika, ON, which has accreditation of ISO/IEC
17025. The other half of the core is retained for future assay verification. Other QA/QC
measures includes the insertion of certified reference standards (gold and polymetallics) and blanks into
the sample stream, and the regular re-assaying of pulps and rejects at alternate certified labs. Gold
analysis is conducted by fire assay using atomic absorption or gravimetric finish for samples greater than
10 g/Mt gold. Other Metals (Ag, Cu, Pb, Zn, Co, As) have full acid digestion and analyzed by AAS; with
over limits (5000 PPM) analyzed by AAS using method dilutions, and the Silver (Ag) over limits (> 200
ppm) analyzed by fire assay (FA) & gravimetric finish. The laboratory re-assays at least 10% of all
samples and additional checks may be run on anomalous values. For Estrades geology and mineralization,
please visit our website at www.galwaymetalsinc.com.
About the Company
Galway Metals is well capitalized with two mine exploration 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.
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: Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the 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.