Galleon Gold extends mineralization at West Cache Project

"We continue to be pleased with our ability to extend the multiple gold zones to the east and south of our previously modelled East Pit infill drill area," said R. David Russell CEO and President of Galleon Gold. 

"Any time you can add additional mineralization at the margins of an existing resource you have to view that as a high-value proposition for the drill program. Exploration at West Cache over the last nine months has been exceptionally rewarding. We have been faced with the interesting problem of when to cut off data to start the PEA, while continuing to drill and identify open-ended mineralized trends - both as east-west extensions of known gold zones and as newly identified structures to the south." 

East Pit Extension- drilling confirms and extends easterly trend
Eight new core holes, completed to an average depth of 200 meters, were drilled at and beyond the eastern edge of the projected East Pit area with the goal of extending several known gold zones. This latest drillhole array was particularly successful in confirming lateral and vertical projections with inferred near surface potential. Highlights from some of the East Pit area holes, shown in the following bullets, provide the latest data projecting a 350-meter eastward extension of the East Pit mineralization, while emphasizing the need for additional drilling immediately to the south and east. Importantly, the latest results show strong potential to continue to add incremental gold resources to the eastern end of the Company's 2013 resource base.

• WC-21-113 intersected 3.75 g/t Au over 4.5 m (117 to 121.5 m), including 8.49 g/t Auover 1.5 m
• WC-21-114 had multiple zones, including: 2.12 g/t Au over 1.5 m (60.0 to 61.5 m), 2.47g/t Au over 1.5 m (63.0 to 64.5 m), and 2.30 g/t Au over 3.0 m (75.0 to 78.0 m)
• WC-21-125 had multiple zones, including: 2.22 g/t Au over 1.65 m (103.5 to 105.15 m) and 1.11 g/t Au over 6.0 m (124.5 to 130.5 m)
• WC-21-126 intersected 6.38 g/t Au over 1.35 m (127.65 to 129.0 m)
• WC-21-128 intersected 5.66 g/t Au over 1.5 m (111.0 to 112.5 m)
• WC-21-129 intersected 6.04 g/t Au over 1.5 m (85.5 to 87.0 m)
• WC-21-135 intersected 2.03 g/t Au over 7.0 m (151 to 158 m) including 7.55 g/t Auover 1.15 m

Current Drill Plan-
Because of long lag times at the assay lab, exploration drilling in the Zone-9 and south areas has been suspended pending receipt of backlogged results. Galleon is currently drilling the East Pit area to extend the mineralized zones noted above and to investigate the potential of similar parallel trends to the south (Figure 1). This initial near-surface drilling could potentially provide additional gold resources at the margins of the previously interpreted East Pit Area as noted, but also has the potential to identify more highly mineralized areas with the potential for underground grades and widths.

 

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