Galleon Gold Receives Closure Plan Approval for West Cache Gold Project
Galleon Gold (TSXV: GGO) has received important approval from Ontario's Ministry of Energy and Mines for its advanced exploration bulk sample program at the 100%-owned West Cache Gold Project in Timmins, Ontario. The approved closure plan enables the extraction of an 86,500-tonne bulk sample with an expected grade of 8.13 g/t gold, potentially containing approximately 22,600 ounces of gold before recoveries.
The comprehensive closure plan encompasses project construction, mining plans, baseline studies, rehabilitation and reclamation plans, and site monitoring programs. The data gathered from underground exploration, including drilling, mining methods, and mill processing, will be essential for pre-feasibility studies and help derisk future mine development.
With this approval, the company is now positioned to commence site preparation, surface work, and pre-development activities at the project.
Galleon Gold (TSXV: GGO) ha ricevuto un'importante approvazione dal Ministero dell'Energia e delle Miniere dell'Ontario per il suo programma di campionamento in massa di esplorazione avanzata presso il West Cache Gold Project, di cui detiene il 100%. Il piano di chiusura approvato consente l'estrazione di un campione in massa di 86.500 tonnellate con un grado previsto di 8,13 g/t d'oro, che potrebbe contenere circa 22.600 once d'oro prima dei recuperi.
Il piano di chiusura completo comprende la costruzione del progetto, i piani minerari, gli studi di base, i piani di riabilitazione e recupero, e i programmi di monitoraggio del sito. I dati raccolti dall'esplorazione sotterranea, inclusi perforazioni, metodi minerari e lavorazione in mill, saranno essenziali per gli studi di pre-fattibilità e aiuteranno a ridurre i rischi per lo sviluppo futuro della miniera.
Con questa approvazione, l'azienda è ora pronta a iniziare la preparazione del sito, i lavori superficiali e le attività di pre-sviluppo del progetto.
Galleon Gold (TSXV: GGO) ha recibido una importante aprobación del Ministerio de Energía y Minas de Ontario para su programa de muestreo a granel de exploración avanzada en el West Cache Gold Project, que es de su propiedad al 100%. El plan de cierre aprobado permite la extracción de una muestra a granel de 86,500 toneladas con un grado esperado de 8.13 g/t de oro, que podría contener aproximadamente 22,600 onzas de oro antes de los recuperos.
El plan de cierre integral abarca la construcción del proyecto, los planes mineros, los estudios de base, los planes de rehabilitación y recuperación, y los programas de monitoreo del sitio. Los datos recopilados de la exploración subterránea, incluidos perforaciones, métodos mineros y procesamiento en el molino, serán esenciales para los estudios de pre-factibilidad y ayudarán a reducir el riesgo en el desarrollo futuro de la mina.
Con esta aprobación, la empresa está ahora en posición de comenzar la preparación del sitio, los trabajos superficiales y las actividades de pre-desarrollo en el proyecto.
갤리온 골드 (TSXV: GGO)는 온타리오 에너지 및 광물부로부터 100% 소유의 웨스트 캐시 골드 프로젝트에서 진행 중인 대규모 샘플 탐사 프로그램에 대한 중요한 승인을 받았습니다. 승인된 폐쇄 계획은 86,500톤의 대규모 샘플 추출을 가능하게 하며, 예상 등급은 8.13 g/t 금으로, 약 22,600온스의 금을 포함할 가능성이 있습니다.
포괄적인 폐쇄 계획에는 프로젝트 건설, 채굴 계획, 기초 연구, 복원 및 재생 계획, 현장 모니터링 프로그램이 포함됩니다. 드릴링, 채굴 방법 및 밀 가공을 포함한 지하 탐사에서 수집된 데이터는 사전 타당성 연구에 필수적이며 향후 광산 개발의 위험을 줄이는 데 도움이 될 것입니다.
이 승인을 통해 회사는 이제 프로젝트의 현장 준비, 표면 작업 및 사전 개발 활동을 시작할 수 있는 위치에 있게 되었습니다.
Galleon Gold (TSXV: GGO) a reçu une importante approbation du ministère de l'Énergie et des Mines de l'Ontario pour son programme avancé d'échantillonnage en vrac au West Cache Gold Project, dont il détient 100%. Le plan de fermeture approuvé permet l'extraction d'un échantillon en vrac de 86 500 tonnes avec une teneur attendue de 8,13 g/t d'or, contenant potentiellement environ 22 600 onces d'or avant récupération.
Le plan de fermeture complet comprend la construction du projet, les plans miniers, les études de base, les plans de réhabilitation et de réclamation, ainsi que les programmes de surveillance du site. Les données recueillies lors de l'exploration souterraine, y compris le forage, les méthodes minières et le traitement en usine, seront essentielles pour les études de préfaisabilité et aideront à réduire les risques liés au développement futur de la mine.
Avec cette approbation, l'entreprise est maintenant en mesure de commencer la préparation du site, les travaux de surface et les activités de pré-développement du projet.
Galleon Gold (TSXV: GGO) hat eine wichtige Genehmigung vom Ministerium für Energie und Bergbau von Ontario für sein fortgeschrittenes Explorationsprogramm zur Entnahme von Bulkproben im West Cache Gold Project, das zu 100% im Besitz des Unternehmens ist, erhalten. Der genehmigte Schließungsplan ermöglicht die Entnahme einer 86.500-Tonnen-Bulkprobe mit einem erwarteten Gehalt von 8,13 g/t Gold, die potenziell etwa 22.600 Unzen Gold vor den Rückgewinnungen enthalten könnte.
Der umfassende Schließungsplan umfasst den Bau des Projekts, Bergbaupläne, Basisstudien, Wiederherstellungs- und Rekultivierungspläne sowie Überwachungsprogramme vor Ort. Die aus der unterirdischen Exploration gesammelten Daten, einschließlich Bohrungen, Bergbaumethoden und Mühlenverarbeitung, werden für die Machbarkeitsstudien von entscheidender Bedeutung sein und dazu beitragen, zukünftige Bergbauentwicklungen zu entrisikieren.
Mit dieser Genehmigung ist das Unternehmen nun in der Lage, mit der Vorbereitung des Standorts, den Oberflächenarbeiten und den Vorentwicklungsaktivitäten des Projekts zu beginnen.
- Received regulatory approval for advanced exploration and bulk sampling program
- High-grade bulk sample potential: 8.13 g/t gold grade with 22,600 oz gold content
- Significant milestone enabling transition to pre-development phase
- Data from bulk sample will derisk future mine development
- Project still in pre-feasibility stage, requiring additional studies before mine development
- Actual gold recovery rates yet to be determined
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
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
info@galleongold.com
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
FAQ
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