Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Galleon Gold (GGO) has filed a NI 43-101 Technical Report as it completes its updated mineral resource estimate (MRE) for the West Cache gold project
  • So far, the mineral resource is wholly contained within the West Cache property and remains open along strike and at depth
  • The company expects to complete the updated MRE in conjunction with its upcoming preliminary economic assessment
  • Galleon Gold is a North American exploration and development company
  • Galleon Gold Corp. (GGO) is currently up 7.69 per cent, trading at $0.07 per share

Galleon Gold (GGO) has filed a NI 43-101 Technical Report as it completes its updated mineral resource estimate (MRE) for the West Cache gold project.

The company expects to complete the updated MRE in conjunction with its upcoming preliminary economic assessment (PEA).

In the technical report, the mineral resource was modelled as amenable to both open pit and underground mining methods. An all-underground mining operation would reduce the mining footprint on surface.

So far, the mineral resource is wholly contained within the West Cache property and remains open along strike and at depth.

R. David Russell, CEO and President of Galleon Gold, commented on the report.

“While we are eager for the completion of the economic analysis, and quantifying the potential of this Mineral Resource, we are equally excited to see how the mine plan for an all-underground scenario develops,” he said.

The West Cache gold project is located near Timmins, Ontario in the Timmins Gold Belt. The project covers over 3,600 hectares and contains a mineral resource near the centre of the property, with additional exploration targets to the north and south.

Recent metallurgical testing completed on the property indicated strong gold mineralization, up to 21.9 g/t gold.

Galleon Gold is a North American exploration and development company. The company holds properties in Canada and the United States, where it explores for nickel, platinum group elements, copper, gold, silver, and base and precious metals.

Galleon Gold Corp. (GGO) is currently up 7.69 per cent, trading at $0.07 per share as of 10:29 am ET.

More From The Market Herald
Superior Gold - Director, Michael Pesner.

" Superior Gold (TSXV:SGI) nominates new director

Superior Gold (SGI) has filed a management information circular for its annual general meeting.

" Sulliden Mining Capital (TSX:SMC) acquires securities of Xander Resources

Sulliden Mining Capital (SMC) acquired 7,142,857 units of Xander Resources in a private placement.

" Eastern Platinum (TSX:ELR) updates technical report on Crocodile River Mine

Eastern Platinum Limited (ELR) has filed a Technical Report on the Crocodile River Mine (CRM), North West Province in South Africa.