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Results include 7.66 g/t Au over 10.0 meters

TORONTO: January 26, 2021.  Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon Gold”) is pleased to announce additional high-grade Zone #9 intercepts at its 100% owned West Cache Gold Project, Timmins, Ontario. 

Highlights

  • WC-20-097 intersected 7.66 g/t Au over 10.0 m, from 224 to 234 m including a sub-interval of 21.89 g/t Au over 2.0 m 
  • WC-20-095 intersected 3.24 g/t Au over 9.0 m, from 290 to 299 m including a sub-interval of 9.47 g/t Au over 2.0 m 

“We are pleased to see that the widths of the Zone #9 intercepts continue to consistently vary between 8 and 12 meters as we test the orientation of the Zone #9 mineralized shoot. We also benefit from the distinct nature of the sulfide mineralization as it enables us to visually identify Zone #9 in real time, which aids drill hole planning as we wait for final assays,” comments R. David Russell CEO and President of Galleon Gold.

Figures and Tables
Figure 1 shows a plan view of the 2020-21 Zone # 9 drill hole collars and intercept locations.  Table 1 summarizes assay and drill hole information. A full copy of the assays and drill hole statistics, from the current drill program, is available on the Company’s website.

Table 1  West Cache Zone #9 Drill Intercepts

Hole ID

From (m)

To (m)

Length (m)

Au (g/t)

WC-20-095

290.0

302.0

12.0

2.85

including

290.0

299.0

9.0

3.24

WC-20-097

224.0

234.0

10.0

7.66

including

231.0

233.0

2.0

21.89

West Cache Zone # 9 Drill Intercepts previously released (2020-21)

         

WC-20-027

239.7

240.7

1.0

1.40

WC-20-030

234.0

243.7

9.7

7.41

including

234.0

237.0

3.0

14.75

WC-20-031

274.5

283.0

8.5

5.87

including

277.0

279.0

2.0

10.09

WC-20-037

167.7

171.0

3.3

1.23

including

167.7

168.7

1.0

2.80

WC-20-042

237.0

247.7

10.7

7.44

including

239.8

243.1

3.3

8.88

including

244.8

247.7

2.9

10.19

WC-20-045

187.0

194.0

7.0

1.96

including

189.0

193.0

4.0

2.92

WC-20-053

148.0

156.0

8.0

3.06

including

148.0

149.0

1.0

7.53

WC-20-054

184.5

201.0

16.5

1.97

including

190.0

198.0

8.0

2.63

including

190.0

192.0

2.0

4.64

WC-20-075

54.0

58.0

4.0

6.60

including

55.0

57.0

2.0

10.87

WC-20-076

107.8

110.0

2.3

1.61

WC-20-077

58.9

61.5

2.6

1.16

WC-20-078

108.0

110.0

2.0

1.19

WC-20-079

161.0

166.0

5.0

3.37

including

162.0

163.0

1.0

6.43

WC-20-080

185.0

199.0

14.0

5.80

including

190.0

199.0

9.0

8.25

including

190.0

195.0

5.0

10.27

WC-20-081

276.0

286.0

10.0

8.68

including

279.0

281.0

2.0

12.04

including

284.0

286.0

2.0

12.25

         

Note: all drill intercepts average approximately 90% true thickness.

 

Qualified Person and Quality Control

The technical content of this release has been reviewed and approved by Chris Dupont, P. Eng, a “Qualified Person” as defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects.  Quality Control and Assurance procedures and protocol include the insertion of one blank or standard for every 10 samples submitted for assay in addition to the insertion of standards, duplicates, and blanks inserted by AGAT Laboratories using the prep facility in Timmins, ON and analytical lab in Mississauga, ON. All gold values utilize common fire assay procedures with an AA finish, although assays over 10 g/t are re-analyzed by fire assay with a gravimetric finish.  All samples reported have been checked against Company and Lab standards, duplicates and blanks.  Sample prep includes all sample material crushed to 75% passing 2 mm with a 300 g split pulverized to 90% passing 200 mesh to create the 30 gram sample for fire assay.  All core logging and sampling were completed in-house at the Company core facility in Timmins, ON.  Core produced in the field is delivered to the Company’s Timmins warehouse every morning with all logging, cutting, labeling and bagging completed by supervised personnel.  Bagged core samples for assay are picked up twice a week by AGAT personnel for delivery to their prep facility across town.

Galleon Gold Webinar Initiation

The Company will be providing a webinar update on the West Cache Gold Project on Wednesday, February, 3rd at 2:00 pm. Registration for the event hosted by Red Cloud Financial Services is available at this link: https://www.redcloudfs.com/rcwebinar-ggo-2/

About West Cache Gold Project 

The West Cache Gold Project is located 13 km west of Timmins Ontario, it is serviced by Provincial highway 101 and secondary access roads. It is situated along the Porcupine-Destor gold belt, approximately 7 km northeast of Pan American Silver’s Timmins West Mine and 14 km southwest of Newmont’s Hollinger Mine.

About Galleon Gold 

Galleon Gold is a North American exploration and development company. 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. Drilling is currently underway at the Company’s flagship project, the West Cache Gold Project, located 13 km from Timmins, Ontario.

For further information:
Galleon Gold 
R. David Russell
Chairman and CEO
T. (416) 644-0066
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www.galleongold.com

Forward Looking Statements
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Galleon Gold are forward-looking statements that involve various risks. The following are important factors that could cause Galleon Gold’s actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Galleon Gold undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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