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Galway Metals ( (TSE:GWM) ) has provided an announcement.
Galway Metals has reported strong new drill results from seven diamond drill holes at the Southwest Deposit’s George Murphy Zone within its Clarence Stream gold project, including a highlight intercept of 7.1 grams per tonne gold over 10 metres and 13.2 grams per tonne over 5 metres. The program is successfully linking deeper mineralization to near-surface zones and extending gold mineralization beyond existing 2022 resource pit shells, reinforcing the continuity and open-pit potential of the deposit. With 48 additional drill holes pending, the results support the company’s strategy to grow shallow, high-grade resources in a favourable gold price environment, potentially enhancing the project’s scale and attractiveness for investors and stakeholders, while benefitting from financial support under New Brunswick’s Junior Mining Assistance Program.
The most recent analyst rating on (TSE:GWM) stock is a Hold with a C$0.90 price target. To see the full list of analyst forecasts on Galway Metals stock, see the TSE:GWM Stock Forecast page.
Spark’s Take on TSE:GWM Stock
According to Spark, TipRanks’ AI Analyst, TSE:GWM is a Neutral.
The score is held back mainly by weak financial performance (pre-revenue, widening losses and negative cash flow), partly offset by a low-debt balance sheet. Technicals are strong with clear trend support above key moving averages, while valuation is constrained by negative earnings and no stated dividend yield. Recent financings and positive drilling results add support by improving funding visibility and exploration upside.
To see Spark’s full report on TSE:GWM stock, click here.
More about Galway Metals
Galway Metals Inc. is a Canadian mineral exploration company focused on advancing its 100%-owned Clarence Stream high-grade gold project in New Brunswick. The flagship project hosts district-scale potential along a 65-kilometre strike of prospective gold showings and anomalies, with an established mineral resource estimate outlining significant indicated and inferred gold ounces under Canada’s NI 43-101 standards.
Average Trading Volume: 761,297
Technical Sentiment Signal: Buy
Current Market Cap: C$89.93M
See more data about GWM stock on TipRanks’ Stock Analysis page.