Galleon Gold Corp (PNCKF)

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Galleon Gold Announces New Discovery at West Cache Gold Project

Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon Gold”) is pleased to announce the discovery of a new mineralized area with multiple gold zones at its 100% owned West Cache Gold Project, Timmins, Ontario.

South Area Discovery - multiple gold zones with significant grades and widths

Located in previously undrilled area 50-250 meters south of Zone #9
- Higher grade intercepts, include:
-- WC-21-198 with 2.0 m at 14.54 g/t Au
-- WC-21-192 with 2.0 m at 7.96 g/t Au
-- WC-21-188 with 1.5 m at 8.90 g/t Au

- Significant thicker intervals, include:
-- WC-20-077 with 41.5 m at 1.03 g/t Au
-- WC-21-162 with 10.0 m at 1.28 g/t Au
- WC-21-192 with 9.0 m of 2.53 g/t Au

- Mineralization remains open along strike and down dip
- Portions of the South Area display mineralogic profiles that are similar to the Zone #9 and the West Deep area just to the north
- South Area geology, including mineralogy, structure, and host rock characteristics, suggests similar potential for future discovery of new zones even further to the south in unexplored terrain

Note from the CEO
R. David Russell CEO and President of Galleon Gold comments, “Results from our 2020-21 exploration program have exceeded our expectations. We started with an infill drill program to improve and gain an understanding of the economic potential of the existing mineralization at West Cache and in the process discovered the high-grade Zone #9 shoot. Building on our model for Zone #9 mineral controls, we extended three holes to the south at the end of 2020 and had our first indication that something new and very significant might exist there. We confirmed those early results with a follow-up program in 2021 and made the discovery of the South Area official. It feels like we are just starting to understand the blue-sky potential on this project. I expect as we continue to build on our growing understanding of the mineral controls’ property wide – additional pit and underground targets will emerge. We are also pleased to report that we have now received all assays needed to complete the modelling of the main mineralized areas on the Project as required for completion of the PEA. Progressively longer turnaround times at the labs – typical of the mining industry over the past year or so – have delayed completion of the gold results portion of the West Cache database. Moving forward, the Company has been advised that work over the next 7-8 weeks will be required by P&E Consultants in order to complete the required analysis and write-up to produce preliminary PEA results now due in early September.”



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https://resourceworld.com/?na=v&nk=6621-741adf496e&id=865