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Galleon Gold Announces Updated Mineral Resource Estimate for the West Cache Project, Timmins, Ontario
657,000 Indicated and 640,000 Inferred Gold Ounces Toronto, Ontario--(Newsfile Corp. - Septem...
About this update from Galleon Gold Corp
[{"type":"text","content":"Galleon Gold Announces Updated Mineral Resource Estimate for the West Cache Project, Timmins, Ontario657,000 Indicated and 640,000 Inferred Gold OuncesToronto, Ontario--(Newsfile Corp. - September 8, 2021) - Galleon Gold Corp. (TSXV: GGO) (the \"Company\" or \"Galleon Gold\") is pleased to announce the release of a National Instrument 43-101 (\"NI 43-101\") updated Mineral Resource Estimate for its 100% owned West Cache Gold Project, Timmins, Ontario (\"West Cache\" or the \"Project\").Highlights include:Indicated Mineral Resource of 657,000 ounces (13.4 Mt at an average grade of 1.52 g/t Au);Inferred Mineral Resource of 640,000 ounces (11.7 Mt at an average grade of 1.71 g/t Au);The Mineral Resource Estimate utilizes optimized pit shells to constrain near surface Mineral Resources, as well as underground (out-of-pit) potentially mineable shapes to constrain the Mineral Resource Estimate for the deeper portion of the West Cache Deposit (see Figures 1 and 2 for pit shell and mineable shape modelling);The Mineral Resource Estimate utilizes US$1,650/ oz gold price at a gold recovery of 95%; andThe Mineral Resource Estimate will form the basis for the Company's Preliminary Economic Assessment (\"PEA\") currently underway.Note from the CEOR. David Russell CEO and President of Galleon Gold comments, \"When we acquired West Cache, we saw many opportunities to generate value in the Timmins camp. With today's results, we have clearly demonstrated the success achieved in our recent drill campaign and the tremendous exploration potential of the Project. The PEA, which is currently underway, will build upon the West Cache story and outline the design plan for a bulk sample of our Zone #9 high grade mineralized shoot along with stages of development for open pit and additional underground mining. Work will also continue to optimize our operational targets, including mining methods, toll processing availability and throughput. Our ultimate goal is to stand shoulder to shoulder with other mine operators in the Timmins camp.\"The Mineral Resource Estimate was based on the results of 557 holes and 210,000 metres of drilling, including 213 holes for 46,380 metres of surface diamond drilling completed since the Company acquired the Project.Zone #9, newly discovered in 2020, has contributed to the Out-of-Pit Indicated Mineral Resource Estimate of 2...