Galway Metals Up Nearly 40% Today After Gold Discovery

Galway Metals

Galway Metals Inc. (TSXV:GWM) is making a splash today on the TSXV! This morning, the Toronto-based mining company released two new announcements that have pushed its stock up. Investors seem impressed, as GWM is currently up nearly 40%.

Galway Metals Makes Big Gold Discovery

Early this morning, Galway announced a new gold discovery at its Clarance Stream Gold Project. This property is located in New Brunswick, Canada. Galway’s new project is in an area that has no previous drilling. 

The new gold discovery is said to highlight the importance of Clarence Steam as Canada’s most exciting new gold camps. “The discovery hole, BL18-12, returned 7.3 g/t Au over 36.7 metres, including 38.1 g/t Au over 6.5 meters in multiple quartz veins containing abundant visible gold, starting only 51 metres downhole and 36 metres vertical,” the press release explained.

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A few hours later, Galway Metals released an updated press release. The company found a typo in the originally posted release. In the original post, in the highlights section, the post reported “BL18-12: 3 grams per tonne (g/t)” and the updated and correct release is “BL18-12: 7.3 grams per tonne (g/t).”

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President and CEO of Galway Metals, Robert Hinchcliffe, said:

“These results exceed even our most optimistic expectations and we stand by our belief that Clarence Stream represents a new district scale opportunity […] A few weeks after moving the drill rig, we are on to another new discovery. Not only are we excited by the large, high-grade intercept found close to surface, we are also encouraged by the consistency of the higher-grade interval within that larger intercept. This bodes very well for future exploration of the whole Clarence Stream camp in which Galway controls 65km of the main NE-SW trend.”

Galway Metals Stock Movement

According to Yahoo Finance, GWM is trading at $0.39 a share, up +$0.11 (+41.82%). Year-to-date, the mining stock is up 110%.

Featured Image: DepositPhotos © scanrail