Galleon Gold drills 6.6 g/t gold over 4.0 metres at West Cache, Timmins

Galleon Gold Corp. [GGO-TSXV], a company owned 23% by financier Eric Sprott, said Thursday December 3 that it continues to intersect significant gold grades in all three target areas of its 100%-owned West Cache gold project near Timmins, Ontario.

Drilling highlights include WC-20-075 which returned 6.6 g/t gold over 4.0 metres from 54 to 58 metres, including a sub-interval of 10.87 g/t gold over 2.0 metres, near surface at the recently discovered No. 9 Zone.

Drill hole WC-20-072 intersected 3.27 g/t gold over 5.2 metres from 144 to 149.2 metres, including a sub-interval of 9.4 g/t gold over 1.0 metre in the West Area. Hole WC-20-041 returned 4.16 g/t gold over 4.5 metres, from 241.5 to 246 metres in the East Area.

Galleon shares were unchanged at 10.5 cents and trade in a 52-week range of 20 cents and $0.03.

Previously known as the Timmins Porcupine West Project, West Cache covers 3,200 hectares and is contiguous to the Timmins West Mine (now owned by Pan American Silver Corp. [PAAS-TSX, NASDAQ]), where Timmins West Mining intersected 83.40 metres of grade 12.75 g/t gold in 2009.

The property has been explored since 1927 by numerous ground geophysical surveys and up to 111 diamond drill holes. In 1984, Dome Exploration discovered and delineated a gold mineralized zone that was approximately 350 metres long and 45 metres wide. Drill programs by Teck Resources Ltd. [TECK.B-TSX; TECK.A-TSX; TECK-NYSE] and others extended the mineralization to a depth of 350 metres.

Galleon has been working to conclude a 15,000-metre infill drilling program it said will provide detailed data for an updated gold resource and preliminary economic assessment (PEA) due in early 2021. Much of the infill drilling targets potential open pit gold mineralization, with additional targeting of near surface underground potential.  Deeper targeting of adjacent mineralization has resulted in the recognition of Zone No. 9, which the company has described as the best near surface (underground) gold zone discovered on the property to date.

With two drills now deployed on the property, one drill is exclusively focused on the No. 9 Zone, while a second drill rig is working to delineate near surface gold mineralization in the East Pit area.