Copper

Galway Metals (TSXV:GWM) released results from new Titan geophysical surveys completed along the Newiska horizon at its Quebec-based Estrades project. The company also reported assay results from the first drill hole completed at the Newiska rhyolite horizon. 

Galway Metals (TSXV:GWM) released results from new Titan geophysical surveys completed along the Newiska horizon at its Quebec-based Estrades project. The company also reported assay results from the first drill hole completed at the Newiska rhyolite horizon.

As quoted in the press release:

Galway Intersects Strong Copper in Wide Area Southeast of Estrades

Drill Hole GWM18-NK-01 intersected 4.2% copper over 0.7 metres (see core picture in core box) in a 22.0 metre interval that returned 0.5% copper, hitting the high grade stringer vein some 93 metres from an historic hole that returned 2.0% copper and 37.4 g/t silver over 1.5m in a 9.4 metre interval that returned 1.1% copper and 41.5 g/t Ag. The high-grade stringer vein intervals in both holes contained considerable chalcopyrite. In the new hole, GWM18-NK-01, the high-grade mineralization is part of an extensive 132 metre stringer zone that is present from 328-460 metres. A second stringer zone is present from 141-194 metres. The significance of such stringer zones is that they are commonly found peripheral to major VMS (Volcanogenic Massive Sulfide) deposits, which are a major source of metals such as copper, zinc and lead. Importantly, these drill results are located on the edge of a new geophysical target outlined by Galway’s recently completed Titan geophysical survey, as discussed below, which may indicate the presence of a major, previously unrecognized massive sulfide body at Newiska (Figure 2). Of note is that Galway’s drill program at Newiska occurred prior to the receipt of Titan geophysical results.

New Titan Geophysical Survey Anomaly Below Strong Copper in Drill Hole

At hole GWM18-NK_01, Galway’s new Titan geophysical survey from Quantec Geoscience outlined a strong IP (“Induced Polarization”) conductive zone over 900 metres in length that may correlate with a deep MT (“Magnetotelluric”), less-resistive anomaly extending to depths of 2,000 metres (Figure 2). As this could possibly represent a large body of massive sulfide mineralization, and given the copper-rich stringer zones found peripheral to the location of the anomaly, this represents an exciting new target for follow-up drilling.

New Titan Anomaly South of Estrades Main Deposit

In addition, a second very strong Titan IP chargeability target, “Estrades South,” has been discovered 8,200m west along the same Newiska rhyolite horizon, and located 2,200m south of the Estrades deposit itself. According to Quantec, this target “seems to present the same [geophysical] signature as the Estrades deposit” and “is associated with a conductive zone” below and to depth (Figure 3). Galway believes there has never been any drilling into this area, with the closest known historical drill hole some 400 metres south, and the best drill hole in the area returning 4.7% copper over 0.6 metres in a stringer zone located 1,000m southwest. This new Titan conductive zone also coincides with magnetic and VLF anomalies, making yet another highly prospective drill target that could uncover another volcanogenic massive sulfide (VMS) deposit in the Estrades Camp. This should be seen in the context of the fact that VMS deposits, as seen in many districts around the world, tend to form in clusters and so these two targets could represent other deposits in the same cluster.

Click here to read the full Galway Metals (TSXV:GWM) press release.

Featured

MARKETS

Markets
TSX20725.93+193.75
TSXV721.28+6.62
DOW32970.16+332.97
S&P 5004125.94+68.10
NASD12031.71+291.06
ASX7105.90-49.30

COMMODITIES

Commodities
Gold1852.44-0.61
Silver22.07+0.05
Copper4.31+0.05
Palladium2065.99+57.99
Platinum955.97+6.96
Oil114.88+0.79
Heating Oil3.90+0.05
Natural Gas8.68-0.21

DOWNLOAD FREE REPORTS

×