Galway Metals Delineates Strong Gold Anomalies on Strike with Clarence Stream; Stakes Additional Claims and Purchases Lower Tower Hill Property Source: NoticiasFinancieras

• Published in: NoticiasFinancieras
• Format: Newsletter
• Language: English
• Published: Miami Global Network Content Services LLC, DBA Noticias Financieras LLC 20.12.2016
• Subjects: Canada

Prospector George Murphy discovered several gold-bearing boulders in strategic locations for Galway. For example, in its early prospecting program, Galway sampled a well-mineralized boulder that returned 35.5 g/t Au, located in the five km undrilled gap between the Clarence Stream South deposit and the Jubilee property (Figure 1). This gap area is characterized by strong gold and arsenic till and soil anomalies along where the Sawyer Brook Fault should transect. Boulders sampled at Jubilee returned 16.3 g/t Au and 7.5 g/t Au. These samples are selected samples and are not in-place and are not representative of the mineralization hosted on the property. Drilling at Jubilee returned up to 11.3 g/t Au over 0.5m, 1.1g/t Au over 23.9m (including 10.1 g/t Au over 1.4m), and 2.1g/t Au over 8.5m (including 8.3 g/t Au over 1.4m; all interval true widths are unknown). In addition, near the end of Wolfden's prospecting at Clarence Stream, it identified three boulders immediately northeast of Jubilee that assayed 16.5 g/t Au, 13.5 g/t Au and 7.9 g/t Au that also corresponded well with gold and arsenic till and soil anomalies. Chip grab sampling of bedrock veins at various locations along the Clarence Stream South Zone has returned assays such as 173.0 g/t, 81.1 g/t, 42.1 g/t, 30.7 g/t, 14.0 g/t and 6.0 g/t, and chip grab sampling of bedrock veins at various locations immediately south of the South Zone returned assays such as 84.3 g/t, 22.8 g/t, 22.0 g/t, 12.1 g/t, 11.6 g/t, 9.3 g/t, and 6.3 g/t. At Lower Tower Hill, bedrock chip samples in trenches returned gold assays of 89.1 g/t and 50.4 g/t over 0.8m. Five of the six other Freewest soils above 200 ppb Au are found in the vicinity of the North Zone, with two of these samples that have not been drill tested grading above 400 ppb Au (Figure 4); the remaining one of Freewest's samples above 200 ppb Au is located near the northern border with Jubilee. Two of the current top seven soils identified by Galway, including the 694 ppb soil assay, is located immediately north of the to be acquired Lower Tower Hill property. This Lower Tower Hill property contains trench chip samples of 89.1 g/t Au plus 50.4 g/t Au over 0.8m. As mentioned above, Galway has entered into an agreement to acquire 100% of the Lower Tower Hill Property (Figure 1) from Globex Mining Enterprises (TSX: GMX, G1M - Frankfurt, Stuttgard, Berlin, Munich, Tradegate, Lang & Schwartz Stock Exchanges and GLBXF - OTCQX International) for 260,000 shares, subject to regulatory approval, plus a 2.5% Gross Metal Royalty on those claims. This strategic property hosts historic trenching that returned chip samples of 89.1 g/t Au and 50.4 g/t Au over 0.8m. The mineralization is similar to that existing at Clarence Stream and is also thought to be intrusive related (in this case to an intrusive to the west where a chip sample graded 20.2 g/t Au) and shear-related. The NW soil grid borders the to be acquired Lower Tower Hill property on the north and contains two soils grading more than 200 ppb Au, including the highest ever reported in any survey in the area of 694 ppb Au. The new acquisition is 250 hectares in size and consists of 11 contiguous claim units with a dimension of roughly two km by 1.5 km. Galway now completely surrounds this newly acquired claim block.