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Galleon Gold continues to find high grade at Timmins West Cache Project

Apr 14, 2021

"We are very pleased with recent results from Zone #9. Drilling in this area continues to provided ample data and information to make a meaningful contribution to our upcoming PEA," R. David Russell CEO and President of Galleon Gold said.  

"Moreover, these results continue to support our planning for the next phase of development as we identify and design the portal and ramp for our initial bulk sample. This is a very exciting time for the project, and I believe we are well on our way to building the next gold mine in the Timmins camp."

Galleon Gold Corp. has announced additional Zone #9 intercepts from its 100% owned West Cache Gold Project in Timmins. 

Zone #9 - continued definition of grade and mineralization

  • WC-21-174 intersected 8.28 g/t Au over 13.04 m (211 to 224.04 m) including 14.58 g/t Au over 6.04 m (218 to 224.04 m); true thickness of these intervals is estimated at 98% of the reported intercept length
  • WC-21-119 intersected 7.93 g/t Au over 2.0 m (358.0 to 360.0 m) and 4.90 g/t Au over 1.5 m (364.5 to 366.0 m); true thickness of these intervals is estimated at 94% of the reported intercept length

Hole WC-21-174, located mid-way between previously announced holes WC-20-42 (7.44 g/t Au over 10.7 m) and WC-20-97 (7.66 g/t Au over 10.0 m), offers a strong confirmation of grade/thickness in a key portion of the Zone #9 mineralized shoot at 160 m below surface (see press releases dated September 29, 2020 and January 26, 2021). Assays and geologic data from Hole 174 will provide additional support for the modeling and resource work now underway as part of the Company's upcoming Preliminary Economic Assessment ("PEA").

Hole WC-21-119 was designed to test the dip extent and plunge of the lower portion of the Zone #9 shoot - this deeper intercept, located 258 m below surface, indicates that the mineralized Upper Shoot projects towards the West Deep gold deposit below. In all, this most recent drilling supports the Company's working model that the Upper Zone #9 Shoot, discovered in 2020, is likely linked to the much deeper West Deep shoot discovered a decade ago (TPW-10-30, 9.21 g/t over 11.0 m). Importantly, there are over 400 meters of untested ground at depth between these upper and lower portions of the Zone #9 shoot.

Note from the CEO- 

Comments on all drillhole intercepts noted above-

All WC drillholes are south directed angle holes with initial inclinations of -45 to -60 degrees from horizontal. Most intercepts are near-perpendicular to the mineralized zone such that the drilled intercepts average approximately 95-97% of the true thickness of the interval. Hole WC-21-174 was drilled using the larger HQ core size, while WC-21-119 was drilled using NQ sized equipment. A full copy of the assays and drill hole statistics from the current drill program is available and updated regularly on the Company's website.

Figure 1 shows a plan view of the 2020-21 drill hole collars with previously released Zone #9 intercepts, while Figure 2 provides a cross sectional view of the newly reported holes. A photo of the core from WC-21-174 can be seen in Figure 3.

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Figure 1

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Figure 2

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Figure 3


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