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Galway Metals Inc. reports exploration and development updates for its Canadian mineral projects, led by the 100%-owned Clarence Stream high-grade gold project in southwest New Brunswick. Recurring news centers on diamond drilling at the South and Southwest deposits, gold and gold-antimony assay results, district-scale geophysical surveys, and work tied to Clarence Stream's NI 43-101 mineral resource and broader 65-kilometre mineralized trend.
Company updates also cover Galway's 90% participating interest in the Estrades Project, a former producing gold-rich polymetallic VMS mine in western Québec, along with exploration leadership, stock option grants, investor relations arrangements, and other public-company matters tied to its TSX Venture and OTCQB traded shares.
Galway Metals (OTCQB:GAYMF) has announced the initiation of a Preliminary Economic Assessment (PEA) for its 100% owned Estrades Polymetallic VMS project in Quebec, Canada. The company has engaged BBA E&C Inc. to conduct the PEA, expected to be completed in Q4 2025.
The project contains significant resources including 1.75M tonnes of indicated resources grading 2.86 g/t Au, 5.76% Zn, 0.97% Cu, 94.4 g/t Ag, and 0.48% Pb, plus 2.68M tonnes of inferred resources at 1.81 g/t Au, 4.75% Zn, 0.86% Cu, 77.4 g/t Ag, and 0.28% Pb. The project, previously mined in 1990-91, saw CAD$20 million in historical development by Breakwater Resources Ltd.
Galway Metals (OTCQB:GAYMF) has reported significant drilling results from its Clarence Stream Gold Project in New Brunswick, Canada. The company announced notable intersections including 6.4 g/t gold over 5.2 meters at the North Deposit, extending mineralization 300 meters beyond the 2022 resource boundary.
The project currently holds 922,000 oz of Indicated resources (12.4 Mt @ 2.3 g/t Au) and 1.334 Moz of Inferred resources (16.0 Mt @ 2.6 g/t Au). To accelerate exploration, Galway is mobilizing a third drill rig in July, focusing on near-resource exploration and infill drilling to support a future resource update.
The company aims to increase the North Deposit resource by 100% to 200%, with results showing promising antimony values, a critical metal with strategic importance.
Galway Metals (GAYMF) has reported significant drilling results from its Clarence Stream gold project in New Brunswick, Canada. The company has extended gold mineralization by 300 meters at the Southwest Deposit and 350 meters at the North Deposit.
Key drilling highlights include intersection of 3.4 g/t gold over 5.0m (including 11.1 g/t gold over 1.0m) and 3.1 g/t gold over 2.9m (including 13.2 g/t over 0.5m) at the Southwest Deposit. The project currently holds a 2022 Mineral Resource Estimate of 922,000 oz (12.4 Mt @ 2.3 g/t Au) in Indicated category and 1.334M oz (16.0 Mt @ 2.6 g/t Au) in Inferred category.
The company has 12 additional holes pending assays from the Southwest Deposit area and 23 drill holes pending from the North Deposit, where visible gold has been observed at 43.4 meters in hole ND-21.
Galway Metals reported positive metallurgical results from its Clarence Stream Gold Project in New Brunswick, achieving up to 88% gold recoveries at the SW Deposit, which represents 70% of total gold ounces. The project contains a 2022 Mineral Resource Estimate of 12.4 Mt @ 2.3 g/t Au Indicated (922,000 oz) and 16.0 Mt @ 2.6 g/t Au Inferred (1.334M oz).
The company is conducting ongoing metallurgical work to optimize gold recoveries and capture antimony as a bi-product, with Clarence Stream containing over 25 million pounds of antimony. The 2024 testing confirmed direct cyanidation yielding 84-88% Au extraction at low antimony grades, while gravity concentration and flotation achieved 71-93% antimony recovery.
Galway added a second drill rig targeting the North Deposit, plans to add a third rig in April for new discoveries, and aims to update the resource in early 2026.
Galway Metals reports significant improvements in metal recovery rates at its 100% owned Estrades property in Quebec's Abitibi region. The high-grade gold and zinc deposit shows a 31% increase in gold recovery, now reaching 86.6%. The updated Mineral Resource Estimate reveals a 17% increase in Indicated Resource and a 22% increase in Inferred Resource compared to 2018.
The property, which previously produced 174,946 tonnes grading 12.9% Zn, 6.4 g/t Au, 1.1% Cu, and 173.3 g/t Ag in 1990-91, now shows improved metallurgical results. Gold accounts for 48% of the total NSR of Indicated Resources and 41% for Inferred Resources. Copper concentrate quality has improved to 28% Cu with 95% recovery, up from previous results of 22% copper and 44% recovery.
Galway Metals has reported significant drilling results from its Clarence Stream gold project in New Brunswick, with notable intersections including 26.9 g/t gold over 8.6 metres (including 368.0 g/t over 0.5m) at the South Deposit. The project shows district-scale potential with a 65-kilometer strike length and currently holds a mineral resource estimate of 12.4 Mt @ 2.3 g/t Au Indicated (922,000 oz) and 16.0 Mt @ 2.6 g/t Au Inferred (1.334M oz).
The company highlights the project's significant antimony resource, which has gained strategic importance following China's export restrictions that led to a 300% price increase to US$15.00 per pound. The 2022 resource estimate includes 9,605t indicated and 2,145t inferred antimony resources. Galway plans to continue drilling in 2025 to expand mineralization and increase both gold and antimony resources within the South and North Deposits.
Galway Metals (TSXV:GWM)(OTCQB:GAYMF) reports significant insider buying activity by CEO Robert Hinchcliffe, who purchased 1,030,000 common shares in 2024 at an average price of $0.45 per share through the TSX Venture Exchange. This follows his acquisition of 1,664,000 shares in 2023. Following these transactions, Hinchcliffe now owns 7,750,746 shares, representing approximately 9% of the company's outstanding shares.
Galway Metals (TSXV:GWM) announced significant changes to its Board of Directors following its October 25, 2024 AGM. Michael Kazickas, a successful commodity trading businessman, joined the Board, while Alfonso Gomez Rengifo resigned effective December 4, 2024. Andreas Curkovic, founder of Proconsul Capital with over 20 years of capital markets experience, was appointed to fill the vacancy and join the Audit and Compensation Committees.
Additionally, Joseph Cartafalsa and Michael Sutton did not seek re-election at the AGM. The company also granted approximately 4,675,000 incentive stock options at C$0.53 per share, expiring December 11, 2029, to employees, consultants, officers, and directors.