- Galleon Gold (GGO) has reported assay results from its West Cache Project in Timmins, Ontario
- The company is re-logging and assaying previously unexamined core from the 2009-2017 drill programs
- Highlights include 9.14 g/t gold over 1.5 m and 18.60 g/t gold over 1 m
- It will incorporate over 1,300 new validated assay results into new modeling for the updated MRE and PEA currently underway
- Galleon Gold is a North American exploration and development company
- Galleon Gold (GGO) is unchanged trading at $0.065 per share
Galleon Gold (GGO) has reported assay results from its West Cache Project in Timmins, Ontario.
The company is re-logging and assaying previously unexamined core from the 2009-2017 drill programs on the advanced-stage gold exploration project.
Highlights:
- Hole TPW-10-15 contains 3.33 g/t gold over 3.7 m, including 7.49 g/t gold over 1.5 m
- Hole TPW-10-22 contains 4.87 g/t gold over 4 m, including 18.60 g/t gold over 1 m
- Hole TPW-12-86 contains 9.14 g/t gold over 1.5 m
Unlike intermittent historical sampling, the company has been analyzing the entire length of the hole for gold potential and geological continuity in less visually altered intervals. Assay results from the 2020-2021 program demonstrate that gold zones at West Cache can be visually subtle and potentially overlooked.
Geological modelling identified un-assayed areas from historic drilling with significant gold potential by projecting known gold zones intersected in recent drilling. The re-log and sampling program continues to evaluate these areas toward a more reliable resource model.
Results from the re-evaluation have identified new mineralized intervals, extended known intervals and contributed to a better understanding of the relationship between gold grades and geology. They have also provided greater confidence in geological wireframing and resource modelling.
Over 1,300 new validated assay results will be incorporated into new modelling for the updated MRE and PEA currently underway.
Gold assay results from unexamined core
| From (m) | To (m) | Intercept length (m) | Au (g/t) | True thickness factor | Hole length (m) | Hole azimuth (°) | Drill hole | |
| TPW-10-15 | 254.3 | 256 | 1.7 | 1.62 | 0.91 | 452 | 145 | -51 |
| including | 254.3 | 254.8 | 0.5 | 4.64 | 0.91 | |||
| TPW-10-15 | 254.3 | 256 | 1.7 | 1.86 | 0.91 | 452 | 145 | -51 |
| including | 254.3 | 254.8 | 0.5 | 5.48 | 0.91 | |||
| TPW-10-15 | 443.8 | 447.5 | 3.7 | 3.33 | 0.92 | 452 | 145 | -51 |
| including | 446 | 447.5 | 1.5 | 7.49 | 0.92 | |||
| TPW-10-22 | 311 | 315 | 4 | 4.87 | 0.92 | 476 | 176 | -62 |
| including | 313 | 314 | 1 | 18.6 | 0.92 | |||
| TPW-11-48B | 757.2 | 760.6 | 3.4 | 3.36 | 0.92 | 988.4 | 185 | -75 |
| including | 758.2 | 760.6 | 2.4 | 4.6 | 0.92 | |||
| TPW-11-50 | 616.2 | 617.5 | 1.3 | 4.53 | 0.88 | 925.2 | 170 | -70 |
| including | 616.2 | 616.7 | 0.5 | 10.1 | 0.88 | |||
| TPW-12-86 | 109.5 | 111 | 1.5 | 9.14 | 0.87 | 462 | 180 | -55 |
| TPW-13-106 | 312 | 318 | 6 | 4.15 | 0.92 | 501 | 180 | -50 |
| including | 312 | 313.5 | 1.5 | 2.1 | 0.92 | |||
| TPW-13-106 | 420 | 422.51 | 2.51 | 2.29 | 0.94 | 501 | 180 | -50 |
| including | 421.5 | 422.51 | 1.01 | 5.57 | 0.94 | |||
| BRS02-23 | 492.7 | 494.2 | 1.5 | 1.14 | 0.94 | 737 | 177 | -59.3 |
| BRS04-24 | 286.5 | 287.5 | 1 | 1.69 | 0.84 | 786 | 180 | -56 |
| and | 424.8 | 429.3 | 4.5 | 1.31 | 0.87 | |||
| TPW-10-09 | 1089.8 | 1091 | 1.2 | 1.31 | 0.87 | 1217 | 182 | -65 |
| and | 1097 | 1099 | 2 | 1.95 | 0.87 | |||
| TPW-10-19 | 204.5 | 207.5 | 3 | 1.01 | 0.97 | 416 | 145 | -50 |
| TPW-10-23 | 136.65 | 138.65 | 2 | 1.91 | 0.87 | 410 | 146 | -52 |
| and | 322.2 | 324.2 | 2 | 2.08 | 0.94 | |||
| and | 363 | 365 | 2 | 1.7 | 0.95 | |||
| TPW-12-84 | 379.5 | 381 | 1.5 | 2.53 | 0.84 | 501 | 185 | -60 |
| and | 427 | 429 | 2 | 3.53 | 0.92 | |||
| TPW-12-85 | 389 | 390 | 1 | 1.26 | 0.94 | 501 | 185 | -60 |
| and | 400 | 401.2 | 1.2 | 1.36 | 0.94 | |||
| TPW-12-87 | 320 | 322 | 2 | 1.03 | 0.92 | 501 | 180 | -55 |
| and | 351 | 353 | 2 | 1.05 | ||||
| TPW-12-88 | 304.5 | 306 | 1.5 | 1.37 | 0.87 | 522.2 | 185 | -55 |
| and | 322 | 323 | 1 | 1.37 | 0.87 | |||
| TPW-13-106 | 202.5 | 204 | 1.5 | 1.65 | 0.87 | 501 | 180 | -50 |
| and | 206 | 208 | 2 | 1.22 | 0.87 | |||
| and | 209.5 | 211 | 1.5 | 1.47 | 0.87 | |||
| and | 217 | 219 | 2 | 1.21 | 0.87 | |||
| and | 332 | 334 | 2 | 1.62 | 0.92 | |||
Galleon Gold is a North American exploration and development company. Eric Sprott holds approximately 23 per cent of the company’s outstanding common shares.
Galleon Gold (GGO) is unchanged trading at $0.065 per share as of 9:30 am ET.