Galway Metals Reports Broad Gold Intercepts from Southwest Deposit, Including 2.6 g/t Over 48.0 Metres
Rhea-AI Summary
Galway Metals (OTCQB:GAYMF, TSX-V:GWM) reported assay results from 14 diamond drill holes at the Southwest Deposit within its 100%-owned Clarence Stream gold project in New Brunswick. Key intercepts include 2.6 g/t Au over 48.0 metres in hole BL-323, with higher-grade sub-intervals of 21.3 g/t Au over 2.0 metres and 9.9 g/t Au over 3.0 metres, plus 1.7 g/t Au over 31.0 metres in BL-322 and 5.3 g/t Au over 5.0 metres in BL-316.
The infill program targeted gaps and areas near the 2026 mineral resource pit shell, aiming to better define and locally expand modeled mineralized zones. Clarence Stream hosts an updated Mineral Resource Estimate of 1.42 Moz indicated and 1.29 Moz inferred. Galway is advancing a Preliminary Economic Assessment, with QA/QC protocols overseen by a Qualified Person under NI 43-101.
Positive
- 2.6 g/t Au over 48.0m intercept at Southwest Deposit (BL-323)
- Infill holes BL-322 and BL-323 show broad zones exceeding current local resource thickness
- Clarence Stream updated resource totals 1.42 Moz indicated and 1.29 Moz inferred
- Core recovery in mineralized zones averages 99%, supporting data quality
- Galway advancing a Preliminary Economic Assessment for Clarence Stream
Negative
- None.
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TORONTO, ON / ACCESS Newswire / August 5, 2026 / Galway Metals Inc. (TSX-V:GWM)(OTCQB:GAYMF) (the "Company" or "Galway") is pleased to report assay results from 14 diamond drill holes completed at the Southwest Deposit within its
Rob Hinchcliffe, President and CEO, commented "These drill results continue to demonstrate the strength and continuity of the Southwest Deposit following our recently announced updated Mineral Resource Estimate. The infill drilling successfully intersected broad zones of gold mineralization with several higher-grade intervals, further strengthening one of the project's most important deposits. As we continue to advance the Preliminary Economic Assessment, results such as these further improve our understanding of the deposit and reinforce our confidence in the long-term development potential of Clarence Stream."
Highlights (Plan Map)
BL-323 Intersected 2.6 g/t Au over 48.0m (section 1)
Including 21.3 g/t Au over 2.0m and 9.9 g/t Au over 3.0m
Also returning 0.7 g/t Au over 21.0m
BL-322 Intersected 1.7 g/t Au over 31.0m
Including 4.3 g/t Au over 5.0m and 14.0 g/t Au over 1.0m
BL-316 Intersected 5.3 g/t Au over 5.0m (section 2)
Including 22.4 g/t Au over 1.0m
BL-313 Intersected 3.1 g/t Au over 8.0m
Including 18.1 g/t Au over 1.0m
Southwest Deposit Infill Drilling
The drill holes reported in this release were completed primarily as part of an infill drilling program within the Southwest Deposit. Holes BL-322 and BL-323 intersected broad zones of gold mineralization, returning 1.7 g/t Au over 31.0 metres and 2.6 g/t Au over 48.0 metres, respectively. Both holes intersected mineralized intervals that are broader than those represented by the current resource model in this area, while remaining within the 2026 Mineral Resource pit shell. The results provide additional definition between previously drilled sections and demonstrate the potential to locally expand the modeled mineralized zones within the existing pit shell.
Approximately 100 metres to the west, holes BL-312 through BL-316 were drilled to infill an approximately 50-metre gap between two existing drill sections. Drilling within this gap intersected several zones of gold mineralization, highlighted by 5.3 g/t Au over 5.0 metres in BL-316, including 22.4 g/t Au over 1.0 metre, and 3.1 g/t Au over 8.0 metres in BL-313, including 18.1 g/t Au over 1.0 metre. These results provide additional information on the continuity of mineralization between the two previously drilled sections and further define the mineralized zones within this portion of the Southwest Deposit.
Farther west, holes BL-295 through BL-302 were drilled primarily to infill areas near the current pit shell boundary and the contact with the Sorrel Ridge Granite. The drilling provides additional geological information in an area where previous drilling was more widely spaced and helps to better define the distribution of mineralization toward the western extent of the Southwest Deposit.
For a complete list of North Deposit assays reported in this press release, please refer to the Assay and Coordinate Table.
Geology and Mineralization
Gold-antimony mineralization at Clarence Stream is structurally controlled and associated with quartz veins and quartz stockwork developed within brittle-ductile fault zones hosted in both intrusive and metasedimentary rocks. Mineralization is associated with pyrite, base-metal sulphides, and stibnite, along with anomalous concentrations of bismuth, arsenic, antimony, and tungsten. Alteration within host rocks is typically confined to a few metres surrounding quartz veins and is characterized primarily by sericitization and chloritization. A more detailed description of the Clarence Stream geology and mineralization is available at www.galwaymetalsinc.com.
Review by Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Jesse Fisher, P.Geo., Project Manager for Clarence Stream and a Qualified Person as defined by National Instrument 43-101. Mr. Fisher certifies that this news release fairly and accurately reflects the technical information and data presented. Galway Metals conducts its exploration activities in accordance with CIM Best Practices Guidelines.
Quality Control and Reports
All core, chip/boulder samples, and soil samples are assayed by Activation Laboratories, located at 41 Bittern Street, Ancaster, Ontario, Canada, Agat Laboratories, located at 5623 McAdam Road, Mississauga Ontario, Canada L4Z 1N9 and 35 General Aviation Road, Timmins, ON P4P 7C3, and/or Swastika Laboratories situated in Swastika, ON. All four labs have ISO/IEC 17025 accreditation. All core is under watch from the drill site to the core processing facility. Drill core is NQ size and sample intervals range from 0.5 meters to 1.5 meters in length. All samples 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 (
About Galway Metals Inc.
Galway Metals is a Canadian mineral exploration and development company focused on advancing its
For additional Information on Galway Metals Inc., Please contact:
Robert Hinchcliffe President & Chief Executive Officer
Telephone: 1-800-501-4808
Email: info@galwaymetalsinc.com
Website: www.galwaymetalsinc.com
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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.
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