Galleon Gold Corp (PNCKF)

[douginil]

Galleon Gold Adds Second Drill Rig at West Cache Gold Project and Commences Phase Two Drill Program

Resource World - November 16, 2020


[[ WOW in the tabloids now! ]]

Galleon Gold Corp. [TSXV: GGO] (the “Company” or “Galleon Gold”) is pleased to report it has added a second drill rig to its ongoing drill program at the Company’s 100%-owned West Cache Gold Project, Timmins, Ontario. The Company has completed 15,000 meters of its initial infill core drilling program and has commenced a Phase Two drilling program for an additional 15,000 meters. The current two drill program is fully funded from the oversubscribed financing of $8.0 million completed on October 14, 2020. Drilling is expected to continue through 2021.

With two drill rigs concurrently operating, the Phase Two drill program will include one drill focused on the newly discovered high-grade gold Zone #9 and the other drill will continue to infill drill the mineable open pit and underground areas previously identified. Once the infill drilling has been completed, both drills will be core drilling exclusively on Zone #9.

The Company plans to initiate the transfer of the drill hole database and assays to P & E Mining Consultants Inc. in January and February 2021 in preparation for Preliminary Economic Assessment (“PEA”) work. Modeling of the West Cache Gold open pit and underground workings, as well as an estimation of a new gold resource with projected economics will be developed. The PEA is targeted to be published by early April 2021.


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