Toronto, ON – April 18, 2023 – Galway Metals Inc. (TSX-V: GWM; OTCQB: GAYMF) (“Galway Metals” or the “Company”), provides an update on personnel and corporate activities. Galway is pleased that Allan Moran has agreed to join the Company as a technical advisor. Galway would like to thank Larry Strauss, who has resigned as VP of Corporate Development but remains a Director of the Company. Metallurgical programs have been planned and are being executed for both the Clarence Stream and Estrades projects.
“After consulting for us on the Clarence Stream project for the past few months, we are delighted to be bringing Allan on in a more formal capacity,” cites Robert Hinchcliffe, President and CEO of Galway Metals. “We are in the midst of closing our recently announced $4 million financing and look forward to resuming exploration activities, including drilling, in a measured way, depending on the status of prevailing capital market conditions.”
Mr. Moran has spent his 40-year plus career in exploration, exploration management, and support of corporate acquisitions for both major and junior mining companies. Moreover, Mr. Moran specializes in geological evaluations of metal projects with a focus on geological and 3D modeling (Leapfrog software), database evaluations and geological inputs to resource estimation; from due diligence audits to feasibility studies; exploration properties to mining operations.
Metallurgical Work at Clarence Stream and Estrades
The Clarence Stream Project will undergo initial metallurgical test work at the southwest deposit (the largest and newest part of the resource) which will be subjected to a cyanidation test to benchmark gold extraction, and testing of chemical and mineralogical characterization will also occur.
Galway Metals has engaged Blue Coast Research Ltd., Parksville BC., to perform initial bottle roll cyanidation testing to see if the gold mineralization in the South West Zone is amenable to cyanide gold extraction, as a first step in determining processing options. Initial metallurgical test work will be conducted on a limited number of variability samples collected from across the South West Zone of the Clarence Stream deposit. Samples are approximately 10 kg of material from ½ or ¼ core. Test work will include gold and multi-element chemical analyses, and mineralogy by QemSCAN to determine gold mineral occurrence, mineral associations, and gold particle size distribution. Samples will be subjected to (bottle roll) cyanidation tests on primary grind pulps for a preliminary test of gold extraction.
For the Estrades Project, Galway Metals is looking to take advantage of newer technologies and processes through this test work that will help better understand the mineralogy and improve recoveries for the Estrades ore body. Test work for the application of Ore Sorting Technology to reject waste rock dilution will also be undertaken. If successful, this process will reduce transportation and mill costs as well as decrease the volume of tailings being created, thus reducing the overall environmental footprint.
The historical test work completed at Estrades was only in the main zone, which was specifically in the old workings and close to the existing ramp. With the growth of the resource, Galway is now looking to expand the test work to encompass the main, central and east zones which would provide a better representation of the mine feed. Testing will also be undertaken on a significant Footwall copper stringer zone that is not in the resource. All drill hole samples have been completed for the metallurgical test work and are now in the process of selecting a partner to perform the testing.
Michael Sutton, P.Geo., Director and VP of Exploration for Galway Metals, is the Qualified Person who has reviewed and approved the scientific and technical disclosure in this news release on behalf of Galway Metals Inc.
About Galway Metals Inc.
Galway Metals is focused on creating significant per share value through the exploration and sustainable development of its two 100%-owned projects in Canada. Galway’s flagship project, Clarence Stream, is one of the most important gold districts in Atlantic Canada as it hosts a large, high-grade gold resource in SW New Brunswick. Also important is Estrades, the former-producing, high-grade, gold- and zinc-rich polymetallic VMS mine in the northern Abitibi of western Quebec as it hosts significant resources in the middle of a major gold camp. After its successful spinout to existing shareholders from Galway Resources following the completion of the US$340 million sale of that company. The company is looking to replicate the same success in Canada with our two highly perspective projects.
Should you have any questions and for further information, please contact (toll free):
Galway Metals Inc.
Robert Hinchcliffe President & Chief Executive Officer
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This news release contains forward-looking information which is not comprised of historical facts. Forward looking information involves risks, uncertainties and other factors that 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 statements made herein with respect to, among other things, the Company’s objectives, goals or future plans, potential corporate and/or property acquisitions, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, exploration results being less favourable than anticipated, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, risks associated with the defence of legal proceedings and other risks involved in the mineral exploration and development industry, as well as those risks set out in the Company’s public disclosure documents filed on SEDAR. Although the Company believes that management’s assumptions used to develop the forward-looking information in this news release are reasonable, including that, among other things, the Company will be able to identify and execute on opportunities to acquire mineral properties, exploration results will be consistent with management’s expectations, financing will be available to the Company on favourable terms when required, commodity prices and foreign exchange rates will remain relatively stable, and the Company will be successful in the outcome of legal proceedings, 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 contained herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.