Galway drills 129 g/t Au over 26 m at California
2011-07-21 06:14 MT - News Release
Mr. Robert Hinchcliffe reports
GALWAY'S BEST GOLD INTERSECT YET: 26 M OF 129 G/T AND 21.5 M OF 8.5 G/T IN ONE HOLE, AND 92.5 M OF 2.9 G/T AND 114 M OF 1.1 G/T IN ANOTHER
Galway Resources Ltd. has released the assay results from holes GWY-113 to GWY-116 from the continuing diamond drill exploration program at its California gold-silver property in Colombia. This property is located adjacent to, and on strike with the La Bodega/La Mascota deposit (acquired for $1.5-billion in cash by AUX Canada). The mineralization on Galway's property has been identified over a one-kilometre strike length and is at the lowest elevation among the major deposits along the California gold trend. Galway also owns a 360-metre-long fractional land position that appears to be directly within the La Mascota mineralized structure. Galway also has two diamond drill rigs operating in Vetas at the high-grade El Volcan gold-silver mine, which is located eight kilometres southeast of California and is the largest gold producer in the region. Results from the first set of holes at El Volcan contained significant high-grade gold and silver (see June 22, 2011, news release).
"We are very encouraged that our drill results at California have improved over the past few months. Our geologists have been better able to hone in on the high-grade veins within the longer intervals of mineralization. In addition, while we have identified high-grade gold from surface to a depth of 380 metres, the mineralization remains open to depth as well as along strike. Aside from the fact that GWY-115 has by far the highest grade we've ever seen on our property, this hole is significant because it further bridges the gap between the Pie de Gallo and Northeast zones. GWY-116 is significant because it helps define the width of the main mineralized trend at California and demonstrates continuity both vertically and laterally," cites Robert Hinchcliffe, president and chief executive officer of Galway Resources.
Highlights from recent drill results at California:
- GWY-115 -- 26.0 metres grading 129.0 grams per tonne gold and 22.3 g/t silver, including 1.0 metre of 3,310.0 g/t Au and 454.0 g/t Ag; 21.5 metres grading 8.5 g/t Au and 11.3 g/t Ag, including 2.0 metres of 78.3 g/t Au and 17.1 g/t Ag, and 1.0 metre of 13.7 g/t Au;
- GWY-116 -- 92.5 metres grading 2.9 g/t Au, including 6.0 metres of 19.6 g/t Au (that includes 1.0 metre of 28.4 g/t Au, 1.0 metre of 59.6 g/t Au and 14.5 g/t Ag, and 1.0 metre of 24.2 g/t Au and 13.4 g/t Ag), 1.0 metre of 7.0 g/t Au, and 1.0 metre of 45.7 g/t Au and 11.0 g/t Ag; 114.0 metres grading 1.1 g/t Au, including 2.0 metres of 25.4 g/t Au (that includes 1.0 metre of 44.9 g/t Au).
Details of Galway's California drill results are provided in the assay result highlights table on the company's website. Also on the website are all maps and sections associated with this press release and pictures of significant visible gold from GWY-115. A 0.5 g/t Au lower cut-off grade was applied in determining all intervals provided in this news release. No upper cut-off grade was applied. True widths are unknown unless specified. In hole GWY-115, if the one, one-metre sample that grades 3,310.0 g/t Au is excluded, the average grade of the remaining 25.0 metres is 1.8 g/t Au. Not only are the results from hole GWY-115 significant because of the very high grade received, they are perhaps even more significant because they are located 95 metres to the northeast and 110 metres to the southwest of strong results seen in holes GWY-54 and GWY-76, respectively. Thus, GWY-115 further improves the continuity along strike between the Gap zone (that bridges the Northeast zone with the Pie de Gallo zone) and the Pie de Gallo zone. Holes GWY-54 and GWY-76 returned the following:
- GWY-54 -- 19.5 metres grading 11.0 g/t Au, including 1.5 metres of 108.0 g/t Au; 4.5 metres grading 11.1 g/t Au, including 1.5 metres of 29.8 g/t Au and 80.2 g/t Ag; 19.5 metres grading 1.2 g/t Au, including 1.5 metres of 8.4 g/t Au and 45.3 g/t Ag;
- GWY-76 -- 16.5 metres grading 8.1 g/t Au, including 1.5 metres of 80.0 g/t Au; 1.5 metres grading 4.8 g/t Au and 231 g/t Ag.
GWY-116 is a strategic, infill hole near the northeast portion of the Pie de Gallo zone. It is strategic because it enhances continuity of mineralization across the width of the mineralized structure, along strike both to the northeast and southwest, and vertically. It hosts two thick mineralized intervals, one that is 92.5 metres grading 2.9 g/t Au and the other that is 114.0 metres grading 1.1 g/t Au. The two wide intervals are separated by 19.0 metres grading 0.28 g/t Au, which is below Galway's cut-off of 0.5 g/t. Together, the intervals in GWY-116 would equal 225.5 metres grading 1.8 g/t Au.
GWY-116 was drilled at a minus-60-degree dip and a 190-degree azimuth (10 degrees west of due south). This hole was collared 80 metres north-northeast of GWY-10, but drilled in a nearly opposite direction (minus-65-degree dip and a five-degree azimuth, or five degrees east of due north), which was one of the most encouraging holes that Galway encountered in its early exploration program. Thus, the top interval in hole GWY-116 crossed and confirmed results seen in GWY-10 (89.0 metres grading 2.9 g/t Au, including 13.5 metres of 15.6 g/t Au and 181.5 g/t Ag), while the bottom interval extended the mineralization farther across the width of the structure.
GWY-116 was also drilled almost perpendicular to, and above, the strong results seen in holes GWY-99 and GWY-104. The mineralization encountered in GWY-116 was located 75 metres and 65 metres, respectively, above the intersections seen in GWY-99 and GWY-104.
GWY-116 was also drilled 105 metres and 160 metres to the northeast of holes GWY-74 and GWY-103, respectively, and 15 metres southwest of holes GWY-109 and GWY-112, and 40 metres southwest of hole GWY-62. Given hole GWY-116's continuity to many other holes, the Pie de Gallo zone has now been identified from surface to a depth of 380 metres, across 100 metres of width, and along a strike length of 240 metres (with potential to extend this such that it joins with mineralization identified in the Northeast and San Celestino zones for a strike length in excess of 1,000 metres).
Highlights from these earlier holes, which provide enhanced vertical continuity, strong continuity of mineralization along strike in both the southwest and northeast directions, and an extension of continuity along the width of the structure, are provided below:
- GWY-10 (width continuity) -- 89.0 metres grading 2.9 g/t Au, including 13.5 metres of 15.6 g/t Au and 181.5 g/t Ag (which includes 3.0 metres of 50.0 g/t Au and 383.0 g/t Ag);
- GWY-99 (vertical and strike continuity to the southwest) -- 150.0 metres grading 3.0 g/t Au and 12.0 g/t Ag, including 36.0 metres of 8.4 g/t Au (which includes 9.5 metres of 28.1 g/t Au, which includes 2.0 metres of 103.2 g/t Au), 1.0 metre of 11.9 g/t Au, and 2.0 metres of 17.5 g/t Au; 15.0 metres of 4.2 g/t Au, including 1.0 metre of 54.1 g/t Au; 85.0 metres grading 1.1 g/t Au, including 14.0 metres of 3.1 g/t Au (which includes 1.0 metre of 25.6 g/t Au and 1.0 metre of 12.5 g/t Au);
- GWY-104 (vertical and strike continuity to the southwest) -- 50.0 metres grading 7.0 g/t Au, including 29.0 metres of 11.5 g/t Au (which includes 1.0 metre of 177.8 g/t Au and 23.2 g/t Ag, 3.0 metres of 27.3 g/t Au, 1.0 metre of 35.9 g/t Au, and 1.0 metre of 27.5 g/t Au); 16.0 metres grading 1.2 g/t Au; 1.0 metre grading 17.0 g/t Au;
- GWY-74 (strike continuity to the southwest) -- 22.5 metres grading 7.8 g/t Au and 16.5 g/t Ag, including 1.5 metres of 102.5 g/t Au; 16.0 metres grading 1.1 g/t Au and 17.5 g/t Ag;
- GWY-103 (strike continuity to the SW) -- 16.0 metres grading 10.9 g/t Au, including 1.0 metre of 12.4 g/t Au and 1.0 metre of 154.5 g/t Au; 45.0 metres grading 0.9 g/t Au, including 6.0 metres of 3.0 g/t Au;
- GWY-109 (strike continuity to the northeast) -- 86.0 metres grading 2.7 g/t Au, including 2.0 metres of 11.2 g/t Au, 2.0 metres of 14.9 g/t Au, 3.0 metres of 35.8 g/t Au (which includes 1.0 metre of 100.5 g/t Au; 48.0 metres grading 2.0 g/t Au, including 1.5 metres of 7.7 g/t Au, 1.0 metre of 30.0 g/t Au, and 1.0 metre of 7.3 g/t Au;
- GWY-112 (strike continuity to the northeast) -- 97.0 metres grading 3.0 g/t Au, including 13.5 metres of 9.9 g/t Au (which includes 3.0 metres of 25.5 g/t Au and 1.0 metre of 38.9 g/t Au), and 1.0 metre of 20.0 g/t Au; 51.0 metres grading 1.7 g/t Au, including 1.0 metre of 21.8 g/t Au and 11.8 g/t Ag; 14.0 metres grading 1.4 g/t Au;
- GWY-62 (strike continuity to the NE) -- 24.0 metres grading 8.4 g/t Au, including 1.5 metres of 112.0 g/t Au and 28.9 g/t Ag; 21.0 metres grading 1.7 g/t Au, including 3.0 metres of 6.5 g/t Au; 19.5 metres grading 1.2 g/t Au, including 1.5 metres of 5.2 g/t Au; 4.5 metres grading 20.0 g/t Au, including 1.5 metres of 45.1 g/t Au.
Hole GWY-113 intersected several lower grade intervals, including 34.5 metres grading 0.9 g/t Au and 25.9 g/t Ag, 10.0 metres grading 0.8 g/t Au, 3.0 metres grading 1.7 g/t Au and 15 g/t Ag, and 4.5 metres grading 0.8 g/t Au. This hole was drilled along the same azimuth (direction) but at a steeper dip (angle of inclination) than holes GWY-109 and GWY-112, which as noted above, returned significant mineralization. It is thought that the zone plunges west of GWY-113. Hole GWY-114, which was drilled west of the Pie de Gallo zone, intersected several moderately mineralized intervals including 4.0 metres grading 1.8 g/t Au and 79.9 g/t Ag, and 6.0 metres grading 1.1 g/t Au.
Drill holes completed in the Pie de Gallo zone were drilled generally at 20 m to 30 m centres. These holes continue to extend continuity of mineralization both vertically and laterally along structure in multiple overlapping lenses typical of the district. Mineralization in the Pie de Gallo zone remains open in all directions. Drilling is continuing with three drills targeting gap areas between the San Celestino, Pie de Gallo and Northeast zones. More complete drill hole results are provided on Galway's website.
Mineralization
Intercepts reported above and in previously reported drill holes are hosted by silicified zones, breccias, fracture zones and stockwork, typical of the district, which includes Greystar Resources' and Ventana Gold's National Instrument 43-101-compliant resources, Angostura and La Bodega, respectively. The principal geologic control in the California-Angostura district is a linear structural corridor that trends northeast-southwest and dips steeply to the north. Segments of this zone host the resources reported by both Greystar and Ventana, and Galway is exploring another segment along the same structural corridor. The entire corridor may be one continuous mineralized zone through all three properties. The mineralized zone identified on Galway's properties to date is approximately 150 m to 200 m wide and 1,000 m long, characterized by hydrothermal alteration and mineralization within various phases of pervasively altered intrusive porphyries. Mineralization remains open along strike where untested, at depth along the entire zone, and across the width of the structure in most places.
Review by qualified person, quality control and reports
In compliance with National Instrument 43-101, Mike Sutton, PGeo, is the qualified person responsible for the accuracy of this news release. All samples are assayed by ALS Chemex in Lima, Peru, after preparation at the Chemex facility in Bogota, Colombia. All core is under watch from the drill site to the core processing facility. Samples are fire assayed with an AA with gravimetric finish. Samples returning in excess of 3.0 g/t Au are sent for metallic screens. Assays reported in this press release may have screen assays pending and will be updated in the table on the website as needed. The company's quality assurance/quality control program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards, blanks and duplicates are inserted at one per 20 samples. Approximately 5 per cent of the pulps and rejects are sent for check assaying at a second lab with the results averaged and intersections updated when received. True widths are unknown at this time, except for those shown. Core recovery in the mineralized zones has averaged over 92 per cent.
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