Galleon Gold Advances West Cache Project with Bulk Sample Closure Plan Submission
Galleon Gold has received a letter from the Ontario Ministry of Mines inviting the company to submit its Closure Plan for a Bulk Sample at its 100% owned West Cache Gold Project in Timmins. The Closure Plan will include a full project description, construction and mining plans, baseline studies, rehabilitation and reclamation plans, and site monitoring programs. The submission will be accompanied by a Financial Assurance of $1,390,978, ensuring sufficient funds for site restoration post-test mining.
"Permitting a project is a multi-faceted process, including steps to ensure efficient engineering design, baseline studies to understand the surrounding environment, and robust community consultation. As we embark upon our mission to build Timmins' next gold mine, we are committed to establishing a framework for responsible development and community engagement at all stages of the project's lifecycle," said David Russell, President and CEO of Galleon Gold.
Next Steps
MINES has 45 days from receipt of the Closure Plan to accept it for filing. Once accepted, the Company can commence surface work and pre-development activities for underground development. Additionally, Galleon Gold has prepared permit applications for Environmental Compliance Approval (ECA), covering air, noise, waste, and industrial sewage, as well as the Permit to Take Water (PTTW) for managing surface water and underground dewatering. Various construction permits for site infrastructure are also in process.
Bulk Sample Details
The bulk sample is planned for approximately 86,500 tonnes grading 8.13 g/t gold, containing an estimated 22,600 ounces of gold (prior to recoveries). Zone #9, a high-grade metasedimentary-hosted gold zone, will be mined at depths between 150-210 vertical meters. Gold in this zone is associated with semi-massive to massive sulphide mineralization, showing recoveries up to 98%. Zone #9 remains open at depth, with underground drilling planned to explore deeper gold zones beyond 350 meters.
Galleon Gold at PDAC
Galleon Gold invites investors and shareholders to visit booth #2911 at the Investor Exchange in the South Building at the Metro Toronto Convention Center from March 2-5, 2025.
About the West Cache Gold Project
The West Cache Gold Project spans 10,370 hectares, located 13 km west of Timmins, Ontario, along the Destor-Porcupine Fault corridor. The project is near Pan American Silver's Timmins West Mine and Newmont's Hollinger Mine. A 2022 Preliminary Economic Assessment (PEA) demonstrated strong economic potential. The Company is in the process of securing permits for an 86,500-tonne underground bulk sample.
About Galleon Gold
Galleon Gold is focused on advancing the West Cache Gold Project. Positioned within a prolific mining region, the project offers strong economic viability and potential expansion opportunities, reinforcing Galleon Gold’s commitment to responsible exploration and development.
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