Galleon Gold Receives Closure Plan Approval for West Cache Gold Project Bulk Sample Program to Deliver Pre-feasibility Data and Derisk Mine Development
Galleon Gold Receives Closure Plan Approval
for West Cache Gold Project
Bulk Sample Program to Deliver Pre-feasibility Data and Derisk Mine Development
Toronto, Ontario--(Newsfile Corp. - April 9, 2025) -
Galleon Gold Corp.
(TSXV: GGO) (FSE: 3H90) (the
"
Company
" or "
Galleon Gold
")
is pleased to announce a major advancement in the development of its
100%-owned West Cache Project in Timmins, Ontario ("West Cache" or the "Project").
The Company
has received formal approval from Ontario's Ministry of Energy and Mines to proceed with an advanced
exploration bulk sample program at the Project. The approval of the closure plan ("Closure Plan") is a
key step in unlocking the full potential of this promising gold asset.
David Russell, President and CEO of Galleon Gold commented
, "
We are very pleased to have
reached this important milestone for the West Cache Project.
This approval is a testament to the
tremendous effort from our team and the experts at the Ministry of Energy and Mines. We are grateful
for the continued support of our local Indigenous communities, the town of Timmins and the Ontario
government. With this approval in hand, we are now poised to advance surface work and begin pre-
development activities. We look forward to providing updates accordingly."
Closure Plan Approval - Key Step for West Cache
On April 9, 2025, the Company received confirmation that Ontario's Ministry of Energy and Mines has
accepted and filed the Closure Plan for the West Cache Project.
This approval allows the Company to
initiate an advanced exploration program that includes the extraction of an 86,500-tonne bulk sample.
The bulk sample is expected to grade 8.13 g/t gold and to contain an estimated 22,600 ounces of gold
(before recoveries).
The data obtained from this underground exploration, including drilling, mining methods, and mill
processing, will be integral for pre-feasibility studies and will play a key role in derisking the Project's
progression toward future mine development.
The Closure Plan is a comprehensive document covering project construction, mining plans, baseline
characterization studies, rehabilitation and reclamation plans, and site monitoring programs to be
implemented throughout advanced exploration activities and after closure.
Looking Ahead
With the bulk sample approval, Galleon Gold is now positioned to begin site preparation, surface work
and pre-development activities at the Project. The Company will be providing updates as work
progresses throughout the bulk sample program.
Technical Content and Qualified Person
The technical content of this news release has been reviewed and approved by West Cache Gold
Project Manager Leah Page, P. Geo. (GNS #217) a "Qualified Person" as defined in National
Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Galleon Gold
Galleon Gold is an advanced exploration and development company focused on the West Cache Gold
Project in Timmins, Ontario.
The West Cache Gold Project is located 7 km northeast of Pan American
Silver's Timmins West Mine and 14 km southwest of Newmont's Hollinger Mine.
The Company's Closure
Plan for an 86,500-tonne underground bulk sample has been accepted and initial work at the Project site
will commence accordingly.
For further information:
Galleon Gold
R. David Russell
Chairman and CEO
T. (416) 644-0066
www.galleongold.com
Forward-Looking Statements
This news release contains certain "forward looking statements", as defined under applicable Canadian
securities laws, that reflect the current views and/or expectations of Galleon Gold with respect to its long-
term strategy, proposed work, plans, bulk sample program and other reports including the PEA for its
projects.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions,
estimates and forecasts about the business and the markets in which Galleon Gold operates.
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 and uncertainty of access to
additional capital, risks inherent in mineral exploration, delays in the receipt of government approvals,
risks associated with development, construction, mining operations and third party contractor activities,
risks related to unanticipated events related to health, safety and environmental matters. 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/247909