Gold’s remarkable year
Gold truly enjoyed a remarkable 2024, relentlessly powering higher to many new records.
Galway Metals (CVE: GWM) has released assay results for holes 58 and 88 completed at the George Murphy zone (GMZ) within its 605-sq.-km Clarence Stream gold project in New Brunswick.
Hole 88 expands this zone by 230 metres to the west, towards the Richard zone, as well as at depth by 137 vertical metres. Drill hole 58 intercepted two new gold-bearing veins within the George Murphy area, growing the horizontal span of this zone by up to 150 metres to the north.
“These results, and those that precede them, demonstrate that Clarence Stream is an emerging new gold district in North America”
Robert Hinchcliffe, Galway CEO
Drill highlights include 14.1 metres of 6.5 g/t gold and 2 metres of 9.7 g/t gold in hole 88 as well as 18.8 metres of 1.3 g/t gold and 2 metres of 11.4 g/t gold in hole 58. The latter intercepted additional areas with strong quartz veining but only anomalous gold assays – according to Galway, quartz is the typical gold carrier at Clarence Stream.
“Galway is rapidly expanding the George Murphy zone in both vertical and horizontal dimensions,” Robert Hinchcliffe, the company’s president and CEO, said in a release. “These results, and those that precede them, demonstrate that Clarence Stream is an emerging new gold district in North America.”
Hinchcliffe added that these latest drill results bring the undrilled gap between the GMZ and Richard zones down to 650 metres, from 800 metres previously. Galway believes that these two areas are part of a larger mineralized system.
The GMZ has now been traced over 730 metres of strike and over a horizontal thickness of 310 metres. The company plans to continue testing the area between the GMZ and Jubilee areas once drilling resumes at Clarence Stream amid the covid-19 pandemic.
In September 2017, Galway published a resource estimate for the project – measured and indicated resources in the North and South zones total 6.2 million tonnes grading 1.96 g/t gold for a total of 390,000 oz. with additional inferred resources of 3.4 million tonnes at 2.53 g/t gold totalling 277,000 oz.
The GMZ, Jubilee and Richard zones, which cover 2.5 km of strike length, are excluded from this inventory. The GMZ was discovered in December of 2017, while the Richard zone was first identified in January of 2019.
Clarence Stream covers 65 km of strike with anomalous gold geochemistry along the Sawyer Brook fault.
(This article first appeared in The Canadian Mining Journal)
