(Toronto, Ontario, November 5, 2018) – Galway Metals Inc. (TSX-V: GWM) (the “Company” or “Galway”) is pleased to report drill results at the Newiska horizon on the Company’s 20,915 hectare, 100%-owned, former producing Estrades Project in the northern Abitibi of western Quebec, Canada. The Newiska prospect is located 8,000m southeast of the former producing Estrades polymetallic deposit (Figure 1 and Figure 2). 8,200m to the west and 2.2 km south of the Estrades deposit, another strong TITAN geophysical conductor that has a remarkably similar signature to the main Estrades deposit was observed.
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SIERRA METALS CONFIRMS PORPHYRY MINERALIZATION AT ITS YAURICOCHA MINE IN PERU, POSITIVE RESULTS INCLUDE 22 METERS OF 0.46% COPPER AND 134 PPM MOLYBDENUM AND 10.73 PPM COBALT
Drill hole highlights include: drilled from 720 level Klepetko tunnel to 1394.60m in depth
Toronto, ON – October 1, 2018 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) today confirms the discovery of a new style of mineralization (copper – molybdenum porphyry). Today’s results are from testing of the geophysical anomalies, in the quartz monzonite intrusive, in the eastern part of the mineralized area. This area is known as the Central Mine which is located between the Cuye and Esperanza zones. The discovery comes as part of an ongoing drilling program to test priority geophysical anomalies at the Yauricocha Mine, located 150 kilometers east-southeast of Lima in the Yauricocha Mining District (Cordillera Occidental), Peru.
Prior evidence of copper-molybdenum porphyry mineralization had been observed on surface within the monzonite intrusive and had previously been sampled by Rio Tinto Zinc. Subsequently, drill core was sampled at 10-meter intervals over the entire hole length and the Company obtained 122 samples. The hole was drilled from the Klepetko Tunnel located on the 720 level to a depth of 1,394.6 meters. The samples indicated an average of >0.1% Copper.
A recently completed TITAN 24 Geophysical Study identified more than 100 anomalies at Yauricocha and a program to test this first geophysical anomaly was designed. Hole (E-PORF 10-18-01) was drilled from the Klepetko Tunnel to test the priority anomaly located in the monzonite intrusive as this zone had high conductivity within the Intrusive. A copper-molybdenum mineralized porphyry was discovered.
Results to date show mineralized sectors with notable grades of copper and molybdenum (see table 1) and this discovery confirms the existence of a new style of mineralization at Yauricocha. The Company will continue with a drilling program which will allow for a better understanding of the distribution of mineralization.
Alonso Lujan, Vice President of Exploration stated: “We are excited as these drilling results demonstrate the possibility to define a copper – molybdenum porphyry deposit with significant dimensions. The TITAN 24 anomaly areas have shown an excellent relationship between conductivity, chargeability and the orebodies. We have several higher-grade intercepts between 798 and 980 meters and now the objective of our follow-up drilling programs is to define the geometry of the higher-grade core of the porphyry.”
He added, “the discovery and location of the porphyry serves as an important milestone at Yauricocha as it helps us to better understand the magnitude of the district’s mineralization. It also helps us to better relate the recent discoveries of the skarn and breccia orebodies to the location of the porphyry. Breccias and skarn related to porphyry orebodies represent important exploration targets for the Company.”
Igor Gonzales, President and CEO of Sierra Metals commented: “Brownfield exploration continues to be a key part of Sierra Metals’ growth plan. Today’s announcement of a porphyry discovery at Yauricocha supports further growth and development at the Yauricocha Mine and subsequently supports the Company’s overall growth plans in Peru.”
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Quantec Geoscience Argentina S.A.
Manager: Nigel Unger
Business Development: Leduar Ramayo
1964 – 2018
It is with heavy hearts that we share the sad news of the sudden passing of Jeff Nichols on Saturday, August 18, 2018, after a short and courageous battle against cancer. Jeff has been a vital part of the Quantec family since 2011, and his unexpected and untimely death is deeply felt by all of us at Quantec.
Those of us who had the privilege of knowing Jeff – not just as a co-worker, but also as a friend – will remember him as a passionate and caring person.
Jeff’s love of the outdoors led him to a career in geophysics. After working on survey crews around the world for Zonge Engineering and then Geosystems, a division of Schlumberger, Jeff joined Quantec in a sales capacity. Jeff was very keen about the Geothermal sector and developed new business for the company there. Jeff was an excellent liaison between clients and Quantec operations due to his hands-on knowledge of field geophysics, and this resulted in him being Quantec’s top salesperson for 5 years running.
We will miss Jeff’s wry sense of humour, his love of geophysics, and his passion for life.
SIERRA METALS CONFIRMS NORTHERN EXTENSION OF THE BOLIVAR NORTHWEST OREBODY CONTAINING AN AVERAGE GRADE OF 1.37% COPPER AND AN AVERAGE TRUE WIDTH OF 8.1 METERS AT THE BOLIVAR MINE, MEXICO
|Mine site geophysics and geology: a high-stakes game of truth or dare.||Mr Peter Holbek (VP Exploration – Copper Mountain Mining Corp.), Mr Richard Joyes (Senior Geologist – Copper Mountain Minning Corp.)||Peter obtained his B.Sc. and M.Sc. in Economic Geology from The University of British Columbia, and has more than 30 years of experience geology, mineral exploration, resource estimation and mine development. He has been involved in the discovery or delineation in a variety of deposits and metals within North and South America and Europe, and was a 2013 recipient of AMEBC’s E.A Scholz Medal for excellence in mine development.|
|Correlations in geological mapping, geochemical sampling and Titan 24 DCIP at the Bolivar mine, Mexico||Mr Alonso Lujan ( – Sierra Metals), Mr Roger Sharpe ( – Quantec Geoscience), Dr Mehran Gharibi ( – Quantec Geoscience), Dr Leduar Ramayo (Sales Associate – Quantec Geoscience)||Roger has been with Quantec Geoscience for over 10 years. He has held the roles of interpreter, general manager and chief geophysicist, and now serves as V.P. Technical based in Toronto. Prior to joining Quantec, Roger worked in hardware and software development for Multi-phase Technologies in Reno, Nevada; and was chief geophysicist for Battle Mountain Gold with mining operations in Canada, Australia, Bolivia and the US. Roger heads Quantec’s R&D team and is responsible for maintaining Quantec’s flagship systems including: Orion 3D, Titan 24 and Spartan MT.|
|New Riches from old data; a re-evaluation of legacy data from the Casino Deposit, Yukon||Mr Ken Witherly (President – Condor North Consulting ULC), Dr Scott Thomas ( – Condor Consulting, Inc.), Dr Daniel Sattel ( – EM Solutions LLC)||Ken Witherly graduated from UBC (Vancouver Canada) with a BSc in geophysics and physics in 1971.
He then spent 27 years with the Utah/BHP Minerals company during which time as Chief Geophysicist, he championed BHP’s programs in airborne geophysics which resulted in the development of the MegaTEM and Falcon technologies. In 1999, Ken helped form a technology-focused service company that specializes in the application of innovative processing and data analysis to help drive the discovery of new mineral deposits.
|Geophysics applied to Geotechnical applications||Mr Adam Smiarowski (Manager Global Geo-Mapping – CGG Multi-Physics)||After graduating from Engineering Physics at Queen’s University, Adam completed his MSc at RMIT University in Melbourne, Australia, using electromagnetic geophysics to map salinity for agricultural applications. Adam completed a PhD at the University of Toronto studying airborne electromagnetics for mineral exploration. He has been performing research with CGG for the past 6 years.|
|Risk Assessment from Historical Coal Undermining to the Ermelo Ring Road using Helicopter TDEM and Ground Geophysics||Mr Jean Legault ( – Geotech Ltd.), Mr Thomas Wade ( – Geotech Limited)||Thomas Wade is a Vancouver-based data processing geophysicist for Geotech Limited. He has spent the ten years since obtaining his Bachelor of Science degree in Earth Science from Simon Fraser University leading airborne geophysical surveys for Aeroquest and Geotech around the globe. He is an expert in the acquisition and processing of time-domain EM, ZTEM, magnetic and radiometric airborne data. He is a registered professional geoscientist with APEGBC.|
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