Galway Metals Inc. (GWM:TSX.V; GAYMF:OTCQB) reported drill results from seven diamond drill holes completed at the Southwest Deposit within the company's 100% owned Clarence Stream gold project in New Brunswick, Canada. The drilling targeted the northeastern area of the Southwest Deposit, also referred to as the George Murphy Zone. According to the company, the primary objective of the program was to connect deeper gold mineralization from the margins of the 2022 resource pit shells to near-surface and to expand mineralization beyond the current resource footprint.
The company reported multiple gold intersections across the seven holes. Drill hole CL-234 intersected 7.1 grams per tonne gold over 10.0 meters, including 13.2 grams per tonne gold over 5.0 meters. Drill hole CL-237 intersected 2.7 grams per tonne gold over 12.0 meters, including 11.4 grams per tonne gold over 2.0 meters, as well as additional intervals of 2.4 grams per tonne gold over 11.0 meters, including 10.4 grams per tonne gold over 1.0 meter, and 2.3 grams per tonne gold over 5.0 meters. Drill hole CL-232 intersected 7.9 grams per tonne gold over 3.0 meters, including 22.0 grams per tonne gold over 1.0 meter, in addition to a previously reported interval of 1.1 grams per tonne gold over 88.0 meters. Drill hole CL-233 intersected 1.5 grams per tonne gold over 9.0 meters and 1.0 gram per tonne gold over 9.0 meters.
Galway stated that drill holes CL-236 and CL-237 intersected multiple gold zones both within and outside existing pit shells, bringing mineralization to surface and extending mineralized zones westward beyond the 2022 resource. Drill holes CL-234 and CL-235 were completed on approximately 50-meter spacing and linked deeper zones to shallow mineralization. Follow-up drilling at 25-meter spacing in the area of CL-232 was completed with CL-233, which intersected additional gold mineralization supporting continuity.
The Clarence Stream Gold Project hosts a reported approximately 65-kilometer strike length of gold showings and anomalies. A 2022 mineral resource estimate outlined in an NI 43-101 technical report dated March 31, 2022, reported indicated resources of 12.4 million tonnes grading 2.3 grams per tonne gold for 922,000 ounces and inferred resources of 16.0 million tonnes grading 2.6 grams per tonne gold for 1.334 million ounces.
Rob Hinchcliffe, President and CEO of Galway Metals, said in the news release, "High-grade and fairly wide gold intercepts like these excite the Management team at Galway Metals, as we continue to build our flagship open-pit resource." He added, "That continuity is important as we step beyond the edges of our current resource and assess how much additional mineralization can be captured with further drilling."
The company reported that there are currently 48 drill holes from the Southwest Deposit with pending assays, including 11 holes located near the drill results reported in this release. Galway stated that these results are expected to be released in the coming weeks and months. Galway also acknowledged financial support from the New Brunswick Junior Mining Assistance Program, which is expected to contribute up to US$50,000 toward exploration drilling in 2025.
Precious Metals Market Backdrop and Gold Sector Conditions
Bloomberg reported on January 27 that gold reached a record high above US$5,200 per ounce, extending a rally driven by U.S. dollar weakness and investor movement away from sovereign bonds and currencies. The report stated that bullion gained about 20% since the beginning of the year, while silver rose more than 50% over the same period.
Bloomberg noted that a weaker dollar made precious metals cheaper for many buyers amid heightened geopolitical risks and concerns about fiscal policy. Suki Cooper, global head of commodities research at Standard Chartered, said expectations of a more dovish and less independent Federal Reserve, combined with geopolitical tensions, "are likely driving more rapid allocations to gold, led by retail investors."
John Newell of John Newell & Associates rated Galway Metals Ltd. as a "Speculative Buy."
According to a January 28 report from Yahoo Finance, gold futures climbed above US$5,500 per ounce as the Federal Reserve held interest rates steady and the US dollar weakened. The report stated that the greenback had fallen to its lowest level since early 2022, pushing investors toward hard assets. Yahoo Finance reported that gold prices had risen more than 20% year to date as the dollar declined against other currencies. Robin Brooks, senior fellow at the Brookings Institution, said, "Dollar weakness is supercharging the rise in gold ... adding fuel to the fire for the crazy rise in precious metals."
Josh Chiat reported on January 28 that gold and silver prices surged sharply as precious metals continued a strong run. The publication stated that gold moved through US$5,000 per ounce amid increased safe-haven demand and de-dollarization trends.
Chris Louney, a strategist at RBC Capital Markets, said historical comparisons suggested the rally had not become unusual in duration, noting, "This means the current duration is by no means an outlier. Also, given the nature of gold, this is not a hard limit to the rally." The report also cited analyst commentary indicating sustained demand from investors and central banks, with one analyst stating, "We do not think investor or central bank demand will fall away, with more tonnage added in our ETP database, and central banks still in the buying camp in search of diversification."
Independent Research Commentary on Company Position
1In an August 6 contributed opinion published by Streetwise Reports, John Newell of John Newell & Associates rated Galway Metals Ltd. as a "Speculative Buy." In the report, Newell outlined a series of technical price targets, identifying an initial target at CA$0.50 followed by a second target at CA$0.70, with a higher extension target at CA$1.05. Based on subsequent trading activity referenced in the chart data accompanying the article, the share price later moved through both the CA$0.50 and CA$0.70 levels, meeting Newell’s first two stated targets.
In a January 12 report, John Newell of John Newell & Associates wrote that Galway Metals Inc. aligned with a group of junior companies moving from limited attention toward broader market recognition as confidence returned to the CDNX. He stated that the company's chart showed "a repeating pattern of accumulation, breakout, and consolidation," which he said was consistent with a market gradually reassessing the company's asset base.
Newell also grouped Galway with other juniors he described as combining "constructive charts with credible fundamentals." He wrote that these companies "spent the downcycle quietly rebuilding while investors looked elsewhere," and noted that as the index shifted from capital scarcity toward capital reallocation, such names often responded earlier as liquidity returned and valuation gaps began to narrow.
In a January 16 corporate update, Ron Stewart of Red Cloud Securities commented on Galway's joint venture term sheet with Dowa Metals & Mining Co., Ltd., stating, "We view this agreement positively as it speaks to the quality and upside potential that is still available at the property." Stewart wrote that the agreement "sets the value of a 100% interest in Estrades at US$55M (CA$77M)" and noted that the project "would account for >65% of the current market cap of CA$94M." He also stated, "GWM currently has an EV/oz value of ~US$20/oz vs. peers at a median of US$54/oz, representing a >60% discount."
Ongoing Drilling, Metallurgical Work, and Resource Updates
Galway reported that metallurgical testing at the Clarence Stream project indicated gold recoveries of up to 98% in the Southwest Deposit. The company stated that this zone hosts over 70% of the ounces at Clarence Stream. According to the company, three drill rigs are currently operating at the project. Two rigs are focused on drilling in the Southwest Deposit to expand the current resource, while a third rig is drilling shallow gold targets in the North Deposit.
The company also reported that a metallurgical test program is underway to optimize its reported 25 million-pound antimony resource. Galway stated that recent testing achieved up to 98% recovery in gold and 98% recovery in antimony. In addition, the company indicated it is working toward starting an updated mineral resource estimate in mid-2026.
Streetwise Ownership Overview*
Galway Metals Inc. (GWM:TSX.V; GAYMF:OTCQB)
At the Estrades project, Galway reported that following the release of a preliminary economic assessment and an agreement with Dowa Metals and Mining Co., Phase I of the agreement is expected to run for approximately six months. The company stated that drilling under this phase is expected to commence in March 2026.
Ownership and Share Structure2
Insiders hold 7.46% of Galway, including 6.76% by CEO Rob Hinchcliffe. Institutional investors hold 18.88%, led by Van Eck Associates Corp. at 4.54%, Caisse de Depot et Placement du Quebec at 3.4%, and Mackenzie Investments at 3.35%. The remaining shares are held by retail investors.
Galway has 125.76 million shares outstanding and a market capitalization of CA$94M. The company's 52-week trading range is CA$0.32 to CA$0.93 per share.
| Want to be the first to know about interesting Gold investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. | Subscribe |
Important Disclosures:
- Galway Metals Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Galway Metals Inc.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
For additional disclosures, please click here.
1. Disclosure for the quote from the John Newell article published on August 6, 2025
- For the quoted article (published on August 6, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.
- Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.
John Newell Disclaimer
As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.
2. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
