Galleon Gold extends mineralization on Eastern Flank at West Cache

Galleon Gold Corp. has announced final assay results from the 2021 East Pit extension drill program at the company’s 100% owned West Cache Gold Project, Timmins.  With all assays now complete for this area, results continue to confirm the easterly extension of multiple gold zones.  This information can now be included in the PEA resource model. 

Final East Pit Area Extension Drilling Summary:

• Eastward Extension of East Pit - additional 350 meters of mineralization added on strike
• East Pit gold system remains open to the east
• Potential to add incremental gold resources to the PEA (currently underway)
• Multiple near surface intercepts with significant gold grades, including: 

         o    WC-21-195 with 4.5 m at 1.17 g/t (147 to 151.5m)
         o    WC-21-203 with 2.0 m at 3.61 g/t (44 to 46m) and 5.5 m at 1.13 g/t (117.5 to 123 m)
         o    WC-21-205 with 4.0 m at 2.32 g/t (53 to 57 m) and 5.5 m at 1.51 g/t (116 to 121.5 m)
         o    WC-21-208 with 6.0 m at 1.75 g/t (45.5 to 51.5 m)
         o    WC-21-209 with 4.45 m at 1.23 g/t (36.05 to 40.5 m)

• Drilling confirms up-dip projection of historic deeper drilling

“This reported array of drillholes was designed to build on what we have been referring to as the East Pit Extension," said R. David Russell CEO and President of Galleon Gold. "This was the second set of holes targeting the eastern margins of our known mineralization, and results confirm the trend is open-ended and our pit and underground potential continues to grow. Although the most recent results provide 350 meters of infill near surface confirmation, we have an additional 2.2 km of strike to the East still to explore – equally important, East Pit mineralization has not been drill tested to the west of the Gap Area, where 300 meters of strike potential offers an immediate target as part of a 2.3 km projection to the property line.”

Geologic Summary
East Pit “Extension” geology is similar to much of the East Pit area as it represents an eastward extension of the same rock types, structures, and sulfide zones.  Some of the more significant of these geologic features, include:

• Multiple gold zones – some on strike with previously drilled mineralization in the East Pit (to the west) – others that represent up-dip near surface extensions from deeper historic drilling
• A lithology largely dominated by volcanic and intrusive rocks that characterize the Bristol Stock area; much of this sequence has historically been labeled a “quartz feldspar porphyry”
• Minor sediment-dominated units composed of interbedded wackes and argillite host rocks
• Simple gold zone sulfide mineralogy consisting of multi-textured pyrite that can occur as bedded bands to remobilized streaks and lenses; minor chalcopyrite is present locally, which is often associated with higher grade intercepts
• Distinctive “bleached” zones of altered volcanics and intrusives with variable fine to coarse grained white mica (sericitic) and/or secondary feldspar associated with mineralized areas; some quartz veining and silicification may be present locally
• Green to grey intervals dominated by a chlorite-carbonate alteration style can also be associated with significant gold zones

 

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