Galway Metals Initiates Preliminary Economic Assessment for Clarence Stream Project

Galway Metals Inc., a Canadian exploration and development firm, has announced the commencement of a Preliminary Economic Assessment (PEA) for its wholly-owned Clarence Stream Gold Project in New Brunswick. The company has enlisted BBA E&C Inc. to carry out the study, building on their updated Mineral Resource Estimate unveiled earlier this month. The project shows a significant uplift in resources, now comprising 27.2 million tonnes of Indicated Resources grading 1.62 g/t gold and 28.5 million tonnes of Inferred Resources grading 1.40 g/t gold.

The PEA aims to evaluate development scenarios, considering mining and processing alternatives, infrastructure needs, and cost forecasts. Set for completion in Q1 2027, it will leverage Galway's extensive past technical work, including resource expansion and metallurgical analyses. The study seeks to enhance the project's viability and guide future development phases. However, as the assessment is preliminary, its findings remain uncertain. This move underscores Galway's strategy to advance the development of Clarence Stream amidst robust gold market conditions.