New Discovery Area: follow-up to discovery hole CL-72 that intersected 4.8 g/t Au over 3.1m with new hole CL-111, which returned 4.1 g/t Au over 10.25m. This area is located 900m NW of the
'You've got to love the constant new discoveries and subsequent expansions just like we predicted, based on geologic evidence. We feel comfortable to predict that there's more to come. The upcoming resource will potentially have plenty of room to grow,' cites
New Discovery 900m NW of Adrian: Confirmed with Additional Mineralization in Follow-Up Drilling
Follow-up drilling was undertaken around discovery hole CL-72 that intersected 4.8 g/t Au over 3.1m in sediments between two intrusions (20m away from one) and that was controlled by a fault. Follow-up hole CL-111 intersected 4.1 g/t Au over 10.25m in what is likely another vein. This hole intersected 5 separate veins. The area is located 900m NW and likely along a different trend than the
Drilling was undertaken to follow up on hole CL-75, a 400m stepout east of the eastern limit and along strike of the GMZ, which returned 9.4 g/t Au over 0.5m that hosted visible gold (VG). The intervening 400m is the continuation of the same soil anomaly that originally led to the discovery of the GMZ in
At the
Adrian - Expanding to the SE and at Depth
Hole CL-103 intersected 5.7 g/t Au over 25.0m , including 20.5 g/t Au over 5.95m , and the VG in hole CL-116 is hosted in 10.5m of 50% smoky quartz veining with 3-5% sulphides, located 75m SE of the intersect in hole 103. These, and the intersect in hole 92, which returned 22.7 g/t Au over 3.5m , including 98.7 g/t Au over 0.5m at 301m below surface (this hole also intersected 24.6 g/t Au over 3.0m including 67.0 g/t Au over 1.0m at 80.5m below surface), are all near the same elevation and it is thought that, like the rest of Adrian, this could represent a folded, locally, flat-dipping vein. Hole 116 represents a 49m extension of the
Galway would like to acknowledge financial support from the
Geology and Mineralization
The discovery of the
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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.
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