Galleon Gold hits highgrade gold in south area at West Cache in Timmins

Galleon Gold Corp. is reporting exciting initial drill results from its 2022 drill program at its 100% owned West Cache Gold Project in Timmins. 

Highlights from WC-22-215 - South Area Intercepts

• 13.29 g/t Au over 4.5 m (from 260.5 to 265.0 m)
  • Including 79.2 g/t Au over 0.7 m
• 5.23 g/t Au over 5.7 m (from 290.0 to 295.7 m)
  • Including 13.68 g/t Au over 1.7 m 
• Both high grade zones were encountered within a broad interval of gold mineralization averaging 2.85 g/t Au over 35.2 m 
• Overall, Hole 215 intercepts correlate with broad and selective gold zones down-dip in holes WC-20-77 and 78 to provide over 100 meters of dip continuity
• Significant dip extensions could be added with intercepts in WC-22-218 (assays pending) and contemplated up-dip drilling in the near future

Comment from CEO

R. David Russell, President and CEO of Galleon Gold commented, "It is evident we are dealing with an increasingly large gold system in the combined Zone #9 and South Areas - today's results confirm the ongoing delineation of the next shoot system in the South Area. The discovery of additional gold resources in the vicinity of Zone #9 should enhance contemplated near term underground development in this area. We continue to demonstrate why West Cache is poised to be a productive mine in the Timmins camp and I believe time will prove that the work we have done to date is a harbinger of its full potential."

Discussion and Results

Hole WC-22-215 was collared to intersect South Area mineralized zones within a gap between near-surface (2.53 g/t Au | 9.0 m, including 7.96 g/t Au | 2.03 m in WC-21-192) and deeper intercepts (2.63 g/t | 7.5 m, including 6.95 g/t Au | 2.0 m in WC-20-077) drilled during the 2020-2021 program.  Figure 1provides a cross sectional view of the intercepts, where drilling continues to define higher zones within a broad mineralized envelope of gold mineralization. Some of these better grades and widths are within fine grained to locally porphyritic felsic metavolcanics, where the more cohesive "hole 215 footwall zone" remains 12 to 15 meters from a major contact with interbedded coarse to very fine-grained metasediments. Importantly, the higher grade 215 footwall shoot is located only 300-meters south of high-grade Zone #9.

The southern felsic metavolcanic unit as identified in 2020 drilling, contains two dominant mineralized horizons, one at the upper contact with metasediments and a second lower horizon highlighted by the assays released in this press release. Additional mineralized zones are developing in the metasediment units to the south of the metavolcanic unit. Detailed structural and stratigraphic logging of historic and new core is ongoing to determine the geometry of the south zones and controls on mineralization related to the felsic metavolcanic unit. 

Figure 2 provides a look at selective portions of the mineralized drill core in WC-22-215, while Table 1contains other drillhole data. 

The Company will continue to release assay data as it is received and compiled. Logging and sampling of recently completed hole WC-22-218 is currently underway. Hole 218 was designed to provide deeper geologic definition, while also attempting to extend mineralized zones encountered in the up-dip drilling. Downhole survey results suggest any mineralization identified in hole 218 will have the potential to extend known gold zones by approximately 90-100 meters; thereby doubling their known dip extent. 

Figure 1 - Cross Section 464,100E with recent 2022 drillholes

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1014/136151_05b425d554cdeb78_001full.jpg

  

Figure 2  - Core Photos WC-22-215

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/1014/136151_05b425d554cdeb78_002full.jpg

 

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