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Be the first with the news that moves the market- Galleon Gold (GGO) is stepping up its exploration work at the West Cache Gold Project in Ontario with the addition of a second drill rig
- The company has completed 15,000 metres of drilling as part of its initial infilling program and has now launched a Phase Two program for a further 15,000 metres
- One drill rig will focus on the newly discovered Zone 9 while the other will continue to infill at the mineable open pit and underground areas
- Once the infill drilling has been completed, both drill rigs will be focused on the Zone 9 area
- The program is fully funded with an C$8 million financing that was completed in mid-October and is expected to continue through 2021
- Galleon Gold is currently up 4.76 per cent to 11 cents per share
Galleon Gold (GGO) is stepping up its exploration work at the West Cache Gold Project in Ontario with the addition of a second drill rig.
Located in the Bristol and Ogden townships of the Timmins-Porcupine Mining Camp, the wholly owned project covers 3,200 hectares and consists of 265 unpatented and 11 patented mining claims.
Situated along the Porcupine-Destor gold belt, the West Cache Project sits approximately 7 kilometres northeast of Pan American Silver’s Timmins West Mine and 14 kilometres southwest of Newmont’s Hollinger Mine.
Galleon Gold recently completed 15,000 metres of an initial infill core drilling program, and has now launched a Phase Two program which will include a further 15,000 metres of drilling.
One of the drill rigs will focus on the newly discovered, high-grade Zone 9 area, while the other will continue with infilling activities at the mineable open pit and underground areas.
Once the infill work has been completed, both drill rigs will focus on the Zone 9 region.
The Phase Two program is fully funded through an C$8 million financing that was completed on October 14, and drilling is expected to continue throughout the rest of 2020 and into 2021.
“We are fortunate to be fully funded for the addition of a second drill, we are looking forward to accelerating the program, and fleshing out the potential of Zone 9,” said R. David Russell, President and CEO of Galleon Gold.
“To date, we have been able to predict the orientation and location of the structure and continue to be impressed by its continuity of grade and widths,” he added.
Galleon Gold is currently up 4.76 per cent to $0.11 per share at 2:14pm EST.
