Galway Metals Commences 5,000-Metre Drill Program at Estrades Funded by DOWA
Rhea-AI Summary
Galway Metals (OTCQB:GAYMF, TSXV:GWM) has started a ~5,000‑metre Phase I diamond drill program at its Estrades Project in northern Abitibi, Québec, funded under its Option and Joint Venture Term Sheet with DOWA METALS & MINING, which may invest up to US$25 million.
The program, using two drills, targets the Main, Central and East zones to collect fresh mineralized material for metallurgical testwork by SGS Canada and to improve geological confidence for future resource and engineering studies. Galway, which has drilled 52,281 metres at Estrades since 2016, holds a 90% participating interest, while DOWA holds 10% with the option to earn up to 45%. Additional planned work includes an environmental baseline study starting Q2 2026, continued resource-upgrade drilling, and further metallurgical studies aimed at refining development pathways outlined in a recent positive PEA.
Positive
- 5,000‑metre drill program funded under DOWA joint venture
- DOWA may fund up to US$25 million at Estrades
- Galway has already completed 52,281 metres of drilling since 2016
- Estrades interest structure: Galway 90%, DOWA 10% currently
- Planned Q2 2026 environmental baseline study supports permitting readiness
Negative
- DOWA can earn up to a 45% interest in Estrades, reducing Galway’s project share
News Market Reaction – GAYMF
In the Jul 24 session, GAYMF gained 1.05%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
TORONTO, ON / ACCESS Newswire / July 23, 2026 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) (the "Company" or "Galway") is pleased to announce that two diamond drills have been mobilized and drilling has commenced at the Estrades Project in the northern Abitibi region of western Québec. The approximately 5,000-metre program forms part of the Phase I work program under the Option and Joint Venture Term Sheet with DOWA METALS & MINING CO., LTD. ("DOWA"), announced in January 2026. The Estrades Project is a high-grade, gold- and zinc-rich volcanic massive sulphide (VMS) deposit. Historically, Breakwater Resources Ltd. invested approximately CAD
"We have just finished the 3rd drill hole of this campaign, and we are very optimistic about Estrades' prospects moving forward. This program is an important first field step under our agreement with DOWA. The drilling is designed to provide representative material for the next phase of metallurgical work while adding useful geological information across the Main, Central and East zones. Together, this work will help us continue evaluating the development pathways identified in the recent PEA," cites Robert Hinchcliffe, President & CEO of Galway Metals, adding " We are very pleased to partner with one of the world's most respected integrated mining and metals companies. DOWA brings deep expertise in zinc concentrate processing, technical evaluation, and project development. Their commitment to funding up to US
Estrades Past Producer
The Estrades Project is a series of gold, zinc, copper, lead, and silver-rich massive sulphide lenses and is located about 95 km north-northeast of La Sarre, Québec. Breakwater Resources mined the Estrades deposit between July 1990 and May 1991. Breakwater used a decline to the 190-meter level and then they developed a network of ramp-connected levels. The Estrades ore was shipped and then processed at the Matagami Mill ~135 kilometers away. The Estrades deposit is presently envisioned as an underground mining operation, with additional regional and local exploration prospects also worth noting.
2026 Drill Program and Metallurgical Testwork
The current program is focused on obtaining fresh mineralized material suitable for metallurgical testwork. Drill holes are planned across the Main, Central and East zones to provide samples representative of the principal mineralization styles and grade ranges at Estrades. SGS Canada will conduct the planned testwork at its Burnaby facility. Results will be incorporated into Galway and DOWA's ongoing evaluation of the Project.
Galway has completed 52,281 metres of drilling at Estrades since acquiring the Project in 2016. The additional drilling from the current program is expected to improve local geological confidence and provide information that may support future resource, engineering and development studies.
Recommendations and Project Optimization
Galway Metals is encouraged by the results of the Estrades PEA and looks forward to advancing the project towards a viable, cash-flow generating mining operation.
A few of the initiatives as we move forward will include:
An Environmental Baseline study is expected to begin in the second quarter of 2026, and continued work on our community outreach program.
Work will continue towards upgrading the Mineral Resource through drilling at depth and by testing the lateral extent of the deposit.
Metallurgical studies will continue with the goal of increasing metal recoveries.
Estrades 2026 Drill Program - Site Photo
Additional Estrades Site Photos
Review by Qualified Person
Stephen Poitras, P.Geo., Project Manager for Galway Metals, is the Qualified Person who supervised the preparation of the scientific and technical disclosure in this news release on behalf of Galway Metals.
About Galway Metals Inc.
Galway Metals is a Canadian mineral exploration and development company focused on advancing its
For additional information, please contact:
Robert Hinchcliffe, President & Chief Executive Officer
Telephone: 1-800-771-0680
Email: info@galwaymetalsinc.com
Website: 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 Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This News Release includes certain "forward-looking statements" and "forward-looking information" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information 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, but is not limited to, the Company's objectives, goals or future plans, information with respect to the OTCQB listing, DTC eligibility, and broadening U.S. institutional and retail investors.
Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in economic conditions or financial markets, political and competitive developments, operation or exploration difficulties, changes in equity markets, changes in exchange rates, fluctuations in commodity prices capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development, and those risks set out in the Company's public documents filed on SEDAR+ at sedarplus.ca. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, 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, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Galway Metals Inc.
View the original press release on ACCESS Newswire