Galway Metals buys 14 more claims at Estrades

Feb 5, 2018

2018-02-05 07:46 ET – News Release

Mr. Robert Hinchcliffe reports

GALWAY METALS PURCHASES ADDITIONAL CLAIMS AT ITS ESTRADES GOLD, ZINC, COPPER AND SILVER VMS PROPERTY IN QUEBEC, CANADA

Galway Metals Inc. 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 per cent copper plus 42 grams per tonne 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 16-kilometre extent of the company’s Newiska horizon. The newly acquired claims and area of the geophysical surveys can be seen in an image on the company’s website.

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 under way 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 plus-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; scheduled for February, 2018;
  • Conduct a new Titan IP (induced polarization) and EM (electromagnetic) survey over large portions of both the Estrades and Newiska horizons in search of copper-rich vent sources for VMS (volcanogenic massive sulphide); 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; 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 50 cents per warrant. The shares and warrants have a four-month-plus-one-day hold period. The transaction is subject to TSX Venture Exchange approval. For more information on Galway’s Estrades and Clarence Stream projects please go to Galway’s website.

Review by qualified person, quality control and reports

In compliance with National Instrument 43-101, Mike Sutton, PGeo, 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, Ont., which has accreditation of ISO/IEC 17025. The other half of the core is retained for future assay verification. Other quality assurance/quality control measures include the insertion of certified reference standards (gold and polymetallics) and blanks into the sample stream, and the regular reassaying of pulps and rejects at alternative certified labs. Gold analysis is conducted by fire assay using atomic absorption or gravimetric finish for samples greater than 10 grams per metric tonne gold. Other metals (silver, copper, lead, zinc, cobalt, arsenic) have full acid digestion and analyzed by AAS (atomic absorption spectroscopy); with overlimits (5,000 parts per million) analyzed by AAS using method dilutions, and the silver (Ag) overlimits (greater than 200 ppm) analyzed by fire assay (FA) and gravimetric finish. The laboratory reassays at least 10 per cent of all samples and additional checks may be run on anomalous values. For Estrades geology and mineralization, please visit the company’s website.

About Galway Metals Inc.

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.

We seek Safe Harbor.

https://galwaymetalsinc.com/news/

Related Posts

Tags

Share This