- Galleon Gold (GGO) has begun the 2022 exploration drill program at its West Cache Gold Project in Ontario
- The initial 5,000-meter drill program will focus on drill targets identified during the company’s drill program in 2020-2021
- Earlier this year, the company released an updated mineral resource estimate and a Preliminary Economic Assessment (PEA) for the West Cache Gold Project
- The MRE reported an Indicated Mineral Resource of 472,000 ounces and an Inferred Mineral Resource of 1,088,000 ounces
- Galleon Gold is an exploration and development company focused on advancing the West Cache Gold Project in Timmins, Ontario
- Galleon Gold Corp. (GGO) is down 2.63 per cent on the day, trading at C$0.37 per share at 3 pm ET
Galleon Gold (GGO) has begun the 2022 exploration drill program at its West Cache Gold Project in Ontario.
The initial 5,000-meter drill program will focus on drill targets identified during the company’s drill program in 2020-2021.
R. David Russell, President and CEO of Galleon Gold, commented on the news.
“Two years ago, when Galleon Gold acquired the West Cache Project, we had two main objectives: to infill drill the known mineralization to confirm the deposit’s geological continuity, update the mineral resource, and complete a PEA. I am very proud of the team for delivering on those goals and making the Zone #9 and South Zone discoveries. As we enter the next stage of development for West Cache, we have set equally ambitious targets. Based on the strength of the Project’s initial PEA, we will continue to advance our permitting initiatives aggressively and, pending approval, start the ramp for test mining in 2023. In concert with the important work on permits, we will continue to explore in and around known gold zones while attempting to locate new mineralized areas and trends over the next few months.”
In February 2022, the company released an updated MRE and a Preliminary Economic Assessment (PEA) Technical Report for the West Cache Gold Project. The Mineral Resource Estate reported an Indicated Mineral Resource of 472,000 ounces and an Inferred Mineral Resource of 1,088,000 ounces.
The company’s maiden PEA provided the first economic valuation for West Cache. The results demonstrate that the project could support a profitable underground mining operation.
Galleon Gold is an exploration and development company focused on advancing the West Cache Gold Project in Timmins, Ontario.
Galleon Gold Corp. (GGO) is down 2.63 per cent on the day, trading at C$0.37 per share at 3 pm ET.
