Galleon Gold moves West Cache project into advanced exploration stage

Galleon Gold (TSXV:GGO) is moving its 100%-owned West Cache gold project 13 km west of Timmins, Ont., forward and plans to take an 86,500-tonne bulk sample. The company has submitted the notice of project status with the Ontario Ministry of Mines, thus beginning the formal permitting process.

"Transitioning West Cache from exploration to advanced stage exploration is a critical milestone for Galleon Gold,” said president and CEO David Russell in a release. “Once we receive the final acceptance of our closure plan and other necessary permits, we can start to de-risk the project with our 86,500-tonne test mining program.

“The production and processing information gained from the bulk sample, along with underground drilling to delineate additional gold targets, will roll into pre-feasibility work in preparation for full-scale mining operations at the West Cache gold project," he added.

The closure plan must be approved by the Ontario Ministry of Mines before advanced exploration can begin. The document includes the project description, baseline studies, rehabilitation and reclamation plans, plus future site monitoring.

Galleon is in the final stages of compiling the environmental permit application. It includes air, noise, waste, industrial sewage,  and the permit to take water. When these permissions are received, the company can begin preparations for surface infrastructure (earthworks, road building, and pad construction) ahead of underground development for the bulk sample.

The bulk sample has been designed for approximately 86,500 tonnes grading 8.13 g/t gold and containing an estimated 22,600 oz. of gold (prior to recoveries). A box cut and ramp will be developed to reach the high-grade zone #9 orebody where four stopes will be established. The zone extends along a geological horizon from the bedrock interface to a known depth of 350 vertical meters below surface. The zone strikes nearly east-west for approximately 250-meters and averages 7.5 meters in width. It has seen little to no exploration below the drilled depth of 350 meters.

Underground drilling from the bulk sample ramp is planned to ascertain the zone's stratigraphic and structural relationship to deeper gold zones known to exist at depths of 550 to over 1 km.

The West Cache project has an indicated resource of 4.1 million tonnes grading 3.63 g/t gold and an inferred resource of 11.8 million tonnes grading 2.87 g/t gold.

Visit www.GalleonGold.com to learn more.