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Posts tagged ‘Galway Resources Ltd (GWY)’

Just in from Colombia

September 15th, 2012

A flurry of gold-silver news from the northeast

By Greg Klein

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Since miners rediscovered Colombia a decade ago, explorers have adapted to what are now well-known challenges ranging from environmental concerns and indigenous rights to security. A flurry of recent news from neighbouring projects in the country’s northeastern Vetas-California-Surata gold region shows that interest continues unabated.

On September 14 Galway Resources Ltd TSXV:GWY announced assays from its Vetas Gold-Silver Project, location of the 400-year-old El Volcan Mine.

Underground drilling highlights include

A flurry of gold-silver news from the northeast

Visible gold keeps explorers coming back
to Colombia’s historic mining regions.

  • 157.4 grams per tonne gold and 76.9 g/t silver over 4.15 metres
    (including 470.2 g/t gold and 142 g/t silver over 1.33 metres)
  • 13.5 g/t gold and 129.1 g/t silver over 4.65 metres
    (including 25.6 g/t gold and 18.3 g/t silver over 1.38 metres)
  • 19.5 g/t gold and 16 g/t silver over 1.29 metres
  • 5.7 g/t gold and 42.4 g/t silver over 4.14 metres
    (including 12.8 g/t gold and 116 g/t silver over 1 metre)
  • 5.2 g/t gold over 3.9 metres
    (including 10.7 g/t gold over 1.36 metres)

True widths for underground holes reported so far range from 32% to 92%. A lower cutoff of 2 g/t gold was used for underground holes but no upper cutoff was applied. Intercept depths weren’t provided but the company states it has found gold mineralization nearly 700 metres below the lowest level of the historic mine, to 860 metres below surface.

Surface drilling highlights include

  • 3.6 g/t gold over 3.05 metres
    (including 7.7 g/t gold over 0.92 metres)
  • 4.2 g/t gold over 2.56 metres
    (including 5.3 g/t gold over 1.4 metres)
  • 6.1 g/t gold over 1.31 metres
  • 2.9 g/t gold over 1.43 metres
  • 4 g/t gold over 1 metre

True widths were not available. A cutoff of 0.5 g/t gold was applied to surface holes.

In a statement issued with the results, President/CEO Robert Hinchcliffe said the project might “ultimately be amenable to underground bulk mining methods.”

The company states that 31 of 35 underground holes reported since June 2011 have had at least one result over 10 g/t gold, with a total of 108 such assays. Assays of at least 5 g/t have resulted 171 times.

Galway says its first surface drill hole, reported last March, appears to have intersected the same structure that CB Gold TSXV:CBJ discovered 160 metres away, suggesting CBJ’s Real Minera stockwork zone connects both properties. Although the Galway surface holes reported above were collared on the same platform used for the March results, they were oriented in the opposite direction. Assays fell short of the previous surface holes but the company emphasizes that all recent holes show multiple mineralized intervals over 2 g/t gold. Assays are pending for 11 more surface holes.

Real Minera continues to bear fruit for CB Gold too, as results released September 4 show. Highlights include

  • 78.14 g/t gold (uncut) or 20.94 g/t (using a 60 g/t topcut) or 5.58 g/t (using a 15 g/t topcut) over 3.31 metres
    (including 227.56 g/t (uncut) or 60 g/t (60 g/t topcut) or 15 g/t (15 g/t topcut) over 1.13 metres)
  • 17.29 g/t (uncut) or 5.67 g/t (60 g/t topcut) or 2.68 g/t (15 g/t topcut) over 15.5 metres
    (including 52.05 g/t (uncut) or 16.8 g/t (60 g/t topcut) or 7.73 g/t (15 g/t topcut) over 5.11 metres)
  • 16.97 g/t or 7.23 g/t (15 g/t topcut) over 2.27 metres
    (including 35.86 g/t or 15 g/t (15 g/t topcut) over 1.06 metres)
  • 11.55 g/t or 8.63 g/t (15 g/t topcut) over 2.27 metres
    (including 20.15 g/t or 15 g/t (15 g/t topcut) over 1.29 metres)
  • 7.36 g/t gold or 4.85 g/t gold (15 g/t topcut) over 4.85 metres
    (including 9.02 g/t gold or 6.31 g/t gold (15 g/t topcut) over 3.89 metres)

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Galway reports Colombia Results of 18.9 g/t Gold, 14.2 g/t Silver over 19m

May 9th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGalway Resources Ltd TSXV:GWY announced assays from its California Property in northeast Colombia. Highlights include

18.9 g/t gold and 14.2 g/t silver over 19 metres
(including 339 g/t gold and 33.3 g/t silver over 1 metre)
6.8 g/t gold over 42 metres
(including 113 g/t gold over 1 metre)
54 g/t gold and 109.2 g/t silver over 3.5 metres
(including 125 g/t gold and 241 g/t silver over 1.5 metres)
2.2 g/t gold over 65.5 metres
(including 5.8 g/t gold and 16.1 g/t silver over 4 metres)
2.5 g/t gold over 52 metres
(including 19 g/t gold over 3 metres)
3.4 g/t gold and 85.5 g/t silver over 30 metres
(including 35.5 g/t gold and 1,071 g/t silver over 2 metres)

President/CEO Robert Hinchcliffe remarked, “We are delighted with the emergence of the new Machuca Zone, which reveals a new exploration dimension to the project that could significantly add to the total strike length and total potential resources. We believe our Machuca results will have a positive impact on our resource estimate that we expect to be completed about the end of the current quarter. Machuca is a notable addition to the abundance of strategic assets that Galway controls and we are pursuing numerous options to realize their full value.”

View Company Profile

Contact:
Investor Relations
800.475.2412

by Greg Klein

Galway reports Colombia Assays including 679.6 g/t Gold, 164 g/t Silver over 1.2m

March 14th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGalway Resources Ltd TSXV:GWY announced assay results from its Vetas gold-silver project in Colombia. Highlights include

679.6 g/t gold and 164 g/t silver over 1.2 metres
1,034 g/t gold over 0.9 metres
27.4 g/t gold over 3.4 metres (including 49.4 g/t gold over 1.2 metres)
203.4 g/t gold over 1.3 metres
40 g/t gold and 34.8 g/t silver over 2.5 metres (including 69.4 g/t gold and 56 g/t silver over 1.2 metres)
15.2 g/t gold over 2.3 metres
7 g/t gold over 2.4 metres
7 g/t gold over 1.3 metres

President/CEO Robert Hinchcliffe stated, “Our exploration efforts at Vetas continue to yield encouraging results that exceed our original expectations. We are intersecting high-grade gold in numerous veins and we have more than doubled the depth at which gold mineralization has been identified below the Reina de Oro level to nearly 700 metres. In addition, our first surface drill hole along our common border with CB Gold TSXV:CBJ appears to have intersected the same structure they discovered 160-metres away.”

View Company Profile

Contact:
Robert Hinchcliffe
President/CEO
800.475.2412

by Ted Niles

Galway reports Colombia Assays of 1,082.6 g/t Gold, 718 g/t Silver over 1.2m

February 15th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGalway Resources Ltd TSXV:GWY announced assay results from its Vetas project in Colombia. Highlights include

8.8 g/t gold and 20.4 g/t silver over 4.4 metres
21.4 g/t gold over 1.4 metres
4.3 g/t gold and 16.4 g/t silver over 2.9 metres
10.5 g/t gold and 30.6 g/t silver over 1.1 metres
9.3 g/t gold over 1.1 metres
15.8 g/t gold over 1.2 metres
10.6 g/t gold and 87 g/t silver over 1.5 metres
5.5 g/t gold and 32.4 g/t silver over 1.3 metres
4.8 g/t gold and 37.9 g/t silver over 1.3 metres
22.7 g/t gold over 1 metre
21.9 g/t gold over 1.1 metres
4.7 g/t gold over 4.4 metres
12.5 g/t gold over 1.4 metres
7.8 g/t gold and 44.2 g/t silver over 1.3 metres
77.1 g/t gold and 51.3 g/t silver over 1.1 metres
1,082.6 g/t gold and 718 g/t silver over 1.2 metres
95.6 g/t gold and 16.9 g/t silver over 1.3 metres
17.8 g/t gold and 77.7 g/t silver over 2.3 metres

President/CEO Robert Hinchcliffe commented, “Not only are we continuing to receive multiple intersections of high-grade gold and silver in virtually all of the holes drilled below the El Volcan mine, we are also continuing to expand the known boundaries of the mine laterally, along strike and to depth. The success rate that we are having on this drill program continues to exceed our expectations. Improved drill productivity should expedite our exploration program and bodes well for robust news flow.”

View Company Profile

Contact:
Robert Hinchcliffe
President/CEO
800.475.2412

by Ted Niles

Galway reports Colombia Gold Assays up to 78.2 g/t over 3.2m

November 24th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningGalway Resources Ltd TSXV:GWY announced drill results from its Vetas gold-silver project in northeastern Colombia. Highlights include

8.4 g/t gold and 82 g/t silver over 2.3 metres
(including 11.3 g/t gold and 149 g/t silver over 1.2 metres)
12.7 g/t gold and 29 g/t silver over 1.1 metres
40.4 g/t gold over 3.5 metres (including 84.8 g/t over 1.3 metres)
6.6 g/t gold over 9.4 metres
13.8 g/t gold and 62 g/t silver over 1 metre
104.3 g/t gold over 1.2 metres
78.2 g/t gold over 3.2 metres (including 248.3 g/t gold over 1 metre)
16.2 g/t gold over 1.2 metres
8.7 g/t gold and 38 g/t silver over 12.9 metres
(including 42 g/t gold and 306 g/t silver over 1.3 metres)
21.6 g/t gold over 1.4 metres
28.3 g/t gold over 4.1 metres
92.2 g/t gold over 1 metre

President/CEO Robert Hinchcliffe stated, “The bonanza-style gold grades we’re seeing at Vetas are exceeding our most optimistic expectations, and new discoveries at depth and to the west of El Volcan expand the mine’s ultimate potential. In addition, the new surface drill rig provides Galway the capacity to explore the many other targets that have been identified through our geophysical and soil, tunnel and trench sampling programs, including the stockwork zone on our side of the common border in which CB Gold Inc TSXV:CBJ made its high-grade discovery located just 50-metres away. Our exploration efforts confirm that the same mineralized intrusive extends on to our property. We continue to be very enthusiastic about the exploration potential at Vetas.”

View Company Profile

Contact:
Galway Resources Ltd
Investor Relations
800.475.2412

by Ted Niles

Galway reports Colombia Gold Assays up to 2.2 g/t over 47m

November 21st, 2011

Resource Clips - essential news on junior gold mining and junior silver miningGalway Resources Ltd TSXV:GWY announced drill results from its California gold-silver property in Colombia. Highlights include

2.8 g/t gold over 17 metres (including 30.2 g/t gold over 1 metre)
1.6 g/t gold over 23 metres
5.9 g/t gold and 37.6 g/t silver over 8 metres
(including 41.8 g/t gold and 146 g/t silver over 1 metre)
6.1 g/t gold and 69 g/t silver over 8 metres
4.2 g/t gold and 109.6 g/t silver over 11 metres
(including 14 g/t gold and 484.5 g/t silver over 2 metres)
2.2 g/t gold over 47 metres
1.1 g/t gold over 17 metres
5.7 g/t gold over 12.5 metres (including 24.4 g/t gold over 2.5 metres)
6.3 g/t gold over 11 metres (including 63.7 g/t gold over 1 metre)
10.2 g/t gold and 160.5 g/t silver over 20.3 metres

President/CEO Robert Hinchcliffe commented, “The San Celestino Zone is consistently returning high gold grades over good widths with significant silver and zinc credits as well; holes GWY-137 and GWY-147 have confirmed the extension of this zone to 300 metres along strike. With the arrival of the fourth rig, this zone can be explored more effectively from the south where the Machuca zone can also be targeted.”

View Company Profile

Contact:
Galway Resources Ltd
Investor Relations
800.475.2412

by Ted Niles

Galway reports Colombia Results of 82.5 g/t Gold, 39.1 g/t Silver over 2.7m

October 6th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningGalway Resources Ltd TSXV:GWY announced results from its Vetas Gold Project in northeastern Colombia. Highlights include

82.5 g/t gold and 39.1 g/t silver over 2.7 metres
138 g/t gold and 21.3 g/t silver over 1.1 metres
21.9 g/t gold and 63.3 g/t silver over 6.7 metres
46 g/t gold and 375.9 g/t silver over 2.3 metres
12.7 g/t gold and 60.6 g/t silver over 4.3 metres
44.7 g/t gold and 1,120 g/t silver over 1.2 metres

President/CEO Robert Hinchcliffe remarked, “Results from Vetas thus far have exceeded our expectations. Recent improvements to existing energy infrastructure, coupled with the addition of a third rig, should allow for much improved drill productivity. It is the management’s belief that both the California and Vetas gold projects have the potential to host significant gold and silver deposits. With the addition of a third drill rig, plus the previously announced addition at California, Galway will have a total of seven rigs operating in Colombia.”

View Company Profile

Contact:
Investor Relations
800.475.2412

by Greg Klein

Galway reports Colombia Gold Assays including 90.6 g/t over 1m

September 28th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningGalway Resources Ltd TSXV:GWY announced assays from its California gold-silver property in Colombia. Results include

90.6 g/t gold over 1 metre
1 g/t gold over 27 metres
1.1 g/t gold and 25.6 g/t silver over 12.5 metres
1.4 g/t gold over 66 metres
10.6 g/t gold over 16 metres
31.7 g/t gold over 1 metre
14.1 g/t gold over 6 metres (including 80.6 g/t over 1 metre)
4.9 g/t gold and 265.1 g/t silver over 3 metres
29.4 g/t gold over 16 metres (including 447 g/t over 1 metre)
3.1 g/t gold and 57.5 g/t silver over 13 metres

President/CEO Robert Hinchcliffe stated, “The high grades seen in holes 123 and 127 are located in the two gap areas being drilled on either side of the Pie de Gallo Zone, which is the core of the trend that Galway is exploring. This once again affirms continuity within, and extensions to, California’s robust mineralized trend.”

View Company Profile

Contact:
Investor Relations
800.475.2412

by Ted Niles

Galway reports Colombia Assays of 21.6 g/t Gold, 475.7 g/t Silver over 14m

September 16th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningGalway Resources Ltd TSXV:GWY announced results from its California Gold-Silver Property in Colombia. Highlights include
21.6 g/t gold, 475.7 g/t silver, 2.5% zinc and 0.24% copper over 14 metres (including 177.5 g/t gold, 3,150 g/t silver, 14.3% zinc and 0.97% copper over 1 metre)
43.4 g/t gold over 8 metres (including 319 g/t gold and 45.8 g/t silver over 1 metre)
24.9 g/t gold over 1 metre
2.4 g/t gold over 10 metres
2 g/t gold over 10 metres.

President/CEO Robert Hinchcliffe commented, “In much the same way that Galway has been successful in bridging the gap between the Pie de Gallo and Northeast zones, the high-grade intersections seen in holes 117 and 120 help bridge the gap between the Pie de Gallo and San Celestino zones. Moreover, the strong mineralization seen in these two holes are actually contained within two different mineralized veins, which align well with other previously reported intersects along strike and dip. Also noteworthy is that, with several very high-grade intersects, silver continues to represent a significant by-product credit in Galway’s California property.”

View Company Profile

Contact:
Investor Relations
800.475.2412

by Greg Klein

Galway reports Colombia Gold Assays including 3.3 g/t over 76m

April 13th, 2011

Galway Resources Ltd TSXV:GWY announced assays from its California Property in Colombia. Results include 7.3 g/t gold over 76 metres (including 46.5 g/t over 8 metres), 1 g/t over 38 metres, 106 g/t over 1 metre, 10.1 g/t over 1 metre, 4 g/t over 2.5 metres, 1.8 g/t over 11 metres, 3 g/t over 7 metres, 20.1 g/t over 1 metre, 0.8 g/t over 19 metres and 7.6 g/t over 2 metres.

President/CEO Robert Hinchcliffe said, “The continued positive drilling results from the main mineralized corridor, which is 1.2 kilometres in length, will help for the preparation of a resource report when sufficient drill density for a resource estimate is completed.”

View Company Profile

Contact:
Galway Resources Ltd
800.475.2412

by Ted Niles