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Galleon Gold says it is "All in" on West Cache Zone 9 in Timmins

Feb 2, 2021

More good news as the junior is weeks away from releasing a PEA for Timmins property. Galleon Gold Corp. has provided another update on its ongoing drill program at its 100% owned West Cache Gold Project, Timmins. Results from core hole 82 provides important additional information down-dip as drilling continues to confirm the projected northwesterly trend of the New Shoot in Zone #9.

  • WC-20-082 intersected 9.4 g/t Au over 10.0 meters (310 to 320 m), including 16.4 g/t over 4.0 m (322 m to 326 m). The true thickness of these intervals is estimated at 96.6% of the intercept length; 9.66 and 3.86 meters respectively.

The Company first discovered the high-grade Zone #9 Shoot in September, and since that time, has treated the current drilling campaign at West Cache as two separate programs. The first program focused on infill drilling of known mineralized areas, while the second program has focused on defining Zone #9. In November 2020, a second drill was brought onto the project to accelerate exploration. As of January 31, the Company has completed the initial 2020-2021 infill drill program and both drills are now deployed to Zone #9, where they will continue to define the New Shoot area and explore for similar high-grade shoots along strike. 

Zone #9 Update

The high-grade Zone #9 New Shoot continues to impress with its continuity in width and grade. Hole 82 has the best combination of grade and width encountered in the Zone to date, which is a positive development as we follow the New Shoot to greater depths to the northwest. Figures 1 to 3 provide additional plan view and cross sectional data on WC-20-082 and surrounding drill results and locations.

Infill Drill & PEA Update 

The initial infill drill program was designed to provide better definition and confirm geological continuity of mineralized gold zones in contemplated open pit and near surface underground areas. Approximately 81 holes were completed in the East, West and Gap pit areas. The Company anticipates that all assays from this portion of the program will be received within six weeks. All drill hole data from the infill program will be transferred to our third-party contractor P & E Mining Consultants to start the modelling work for an updated Resource and a Preliminary Economic Assessment ("PEA"). Due to the importance of Zone #9 and its potential impact on project economics, drill data will continue to be accumulated into March for inclusion in the resource model and PEA. 


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