Galway Metals Announces Filing of Updated Mineral Resource Estimate for Estrades Project
Toronto, March 05, 2025 – Galway Metals Inc. (TSX-V: GWM) (“Galway Metals” or the “Company”) is pleased to announce that it has filed on SEDAR+ an independent technical report (the “Report”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) supporting the updated Mineral Resource Estimate for its 100% owned Estrades Project (“Estrades”) located in the northern Abitibi of Western Quebec. The Report is available on the Company’s website and on SEDAR.
Mineral Resource Estimate
The updated Mineral Resource Estimate for Estrades includes the following highlights:
- Indicated Mineral Resources totaling 1,122,000 ounces of gold (“Au”) and 61,500,000 pounds (“lbs”) of zinc (“Zn”)
- Inferred Mineral Resources totaling 831,000 ounces of gold and 47,700,000 pounds of zinc
- An increase in Indicated Mineral Resources by 34% and Inferred Mineral Resources by 37% compared to the previous estimate
The Report was prepared by Roscoe Postle Associates Inc. (“RPA”) and includes an updated mineral resource estimate and a new mineral reserve estimate for the Clarence Stream and Campanis Brook deposits at Estrades.
Implications for Galway Metals
The updated Mineral Resource Estimate for Estrades represents a significant increase in the Company’s mineral resources and has the potential to increase the profitability of the Company. With the improved resource estimate, Galway Metals plans to initiate a scoping study to evaluate the potential for re-opening the past-producing high-grade gold-zinc mine.
Implications for the World
The mining industry plays a crucial role in the global economy, providing essential minerals and metals for various industries, including technology, construction, and energy. The discovery and development of new mineral resources, such as those at Galway Metals’ Estrades Project, contribute to the supply of these resources and can have a positive impact on the global economy.
Moreover, the mining industry also creates jobs and generates revenue for local communities and governments. The potential re-opening of the Estrades mine could bring economic benefits to the local community in Western Quebec and the province as a whole.
Conclusion
Galway Metals’ filing of the updated Mineral Resource Estimate for its Estrades Project represents a significant milestone for the Company and has the potential to increase its mineral resources and profitability. The improved resource estimate also has positive implications for the global economy, as it contributes to the supply of essential minerals and metals and generates economic benefits for local communities and governments.
The Company plans to initiate a scoping study to evaluate the potential for re-opening the past-producing high-grade gold-zinc mine, which could bring further economic benefits to the region. Galway Metals remains committed to responsible mining practices and working collaboratively with stakeholders to maximize the potential of its mineral resources while minimizing its environmental footprint.
