Galway Metals Commences Preliminary Economic Assessment at Clarence Stream Gold Project
Galway Metals Inc. has engaged BBA E&C Inc. to complete a Preliminary Economic Assessment (PEA) for its 100%-owned Clarence Stream Gold Project in southwestern New Brunswick, Canada. The study is expected to be completed in the first quarter of 2027 and will build upon the updated 2026 Mineral Resource Estimate announced on July 13, 2026.
The PEA aims to evaluate mining and processing alternatives, infrastructure requirements, and capital and operating costs to define the preferred development path for the project. The assessment will incorporate significant technical work completed over the past several years, including resource expansion and infill drilling, metallurgical studies, environmental baseline programs, and other supporting engineering initiatives. The resource encompasses the North, South, and Southwest deposits, which remain open for expansion through ongoing drilling across the 65-kilometre Clarence Stream district.
The PEA will utilize the updated 2026 Mineral Resource Estimate prepared in accordance with NI 43-101, which includes:
- Indicated Mineral Resource: 27.2 million tonnes grading 1.62 g/t Au, containing 1.42 million ounces of gold.
- Inferred Mineral Resource: 28.5 million tonnes grading 1.40 g/t Au, containing 1.29 million ounces of gold.
The scope of the study includes engineering trade-off studies to optimize the project and opportunities to optimize processing alternatives and overall development strategy. Jesse Fisher, P.Geo., Project Manager for Clarence Stream, reviewed and approved the scientific and technical information.
"The completion of our updated Mineral Resource Estimate marked an important milestone for the Clarence Stream Project and provides a strong foundation for advancing the Project through a Preliminary Economic Assessment. Combined with the current strength in the gold market, we believe now is the appropriate time to commence this next phase of technical evaluation. The PEA will evaluate a range of development alternatives and help define the preferred path forward for Clarence Stream. We are pleased to engage BBA E&C Inc. to complete the study and currently expect the PEA to be completed during the first quarter of 2027," said Rob Hinchcliffe, President and CEO.