11:43 AM EDT, 03/13/2024 (MT Newswires) -- Galway Metals Inc. ( GAYMF ) was at last look on Wednesday up 8% after it reported assay results from its diamond drilling program at the Southwest Deposit at the Clarence Stream gold project in New Brunswick. The Southwest Deposit, as well as the South and North Deposits, are open in all directions for expansion. Management believes that the Clarence Stream gold project has district-scale potential with an exploration strike length of approximately 65 kilometres.

Rob Hinchcliffe, President and CEO, said "We are excited about these new results from the Southwest Deposit because they demonstrate good gold continuity. More specifically we are seeing extensions of mineralization at surface and at depth including a high-grade intercept extending the Southwest Deposit 106 metres with spectacular visible gold. With gold prices trading close to an all-time high we remain bullish on the company's 2024 outlook".

Select highlights:

BL-251 intersected 114.1 g/t gold over 2 metres including 447.0 g/t gold over 0.5 metres. Extending mineralization 106 metres at depth from previously released high-grade intercepts of 44.1 g/t gold over 9.5 metres (BL-87) and 20.7 g/t gold over 9.45 metres (BL-72)

BL-252 intersected 7.43 g/t gold over 6 metres including 20.95 g/t gold over 1.0 metre and 3.08 g/t gold over 7.5 metres.

Price: 0.40, Change: +0.03, Percent Change: +8.11