Galleon Gold: Advancing its Gold Project in Timmins
Advancing the West Cache Gold Project in Timmins, Ontario
Galleon Gold is a North American exploration and development company focused on advancing the West Cache Gold Project, Timmins, Ontario. The project is situated along the Porcupine-Destor gold belt. It’s approximately 7 km northeast of Pan American Silver’s Timmins West Mine and 14 km southwest of Newmont’s Hollinger Mine. Data from the company’s ongoing drill program will be used in support of an updated Resource and Preliminary Economic Assessment.
Permitting and baselines studies have been initiated along with a perimeter survey to convert the mining claims to lease status. Eric Sprott holds approximately 23% of the company’s outstanding common shares and is also the company’s partner on the Neal Gold Project in Idaho.
West Cache Gold Project
The property has been explored since 1927 by numerous ground geophysical surveys and diamond drilling. Dome Exploration discovered and delineated a gold mineralized zone that is approximately 350 meters long and 45 meters wide. Strike length of the gold mineralization is greater than 2000 meters at depth. The continuity of mineralization continues to be confirmed and the structure remains open on strike and at depth.
Further, the property consists of 265 unpatented mining units and 11 patented mining claims located in the Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total of approximately 3,765 hectares.
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