Galleon Gold Company (TSXV: Genetically modified organisms) (Otkbk: GGOXF) (FSE: 3H90) (“a company“or”Galleon Gold) is pleased to announce the first set of drill results from the 2026 drilling program at its 100% owned West Cache Gold Project (“Project” or “West Cache”) in Timmins, Ontario.
The initial holes for the planned 18,000 meter drilling program are designed to test the downslope extension of Zone 9 Mineralization below the planned bulk sample stops and to verify the geological controls on the mineralization within the South Zone, which is located immediately south of Zone 9 and in close proximity to the planned bulk sample stops. Five (5) perforations with a complete inspection report are included in this press release, as well as partial results from two (2) perforations.
Highlights of District No. 9
- WC-26-227 with 5.16 g/t Au over 3.00 m 25 meters below the surface and within an intersection of 2.14 g/t at 11 metres.
- WC-26-234 with 5.04 g/t Au over 5.91 m Within a broad intersection of 2.10 g/t Au over 22 metres.
- WC-26-235 with 5.13 g/t Au over 9.97 m Included 8.81 g/t Au over 4.1 m Within a wider intersection of 3.00 g/t Au over 18.75 metres.
The most prominent landmarks of the southern region
- WC-26-227 with 7.77 g/t Au over 1.00 metres Within an intersection of 3.87 g/t Au over 2.05 metres.
- WC-26-227 with 2.61 g/t Au over 5.10 m including 6.15 g/t Au over 2.00 metres.
“We are very pleased with these initial drill results, which confirm grade continuity beneath our planned bulk sample stop zones, as well as within the upper portions of Zone 9 near surface. In addition, the footwall and hanging wall of Zone 9 consistently exhibit broad intervals of 1 to 3 g/t gold surrounding a high-grade core. These mineral envelopes are becoming increasingly important in the current gold market.” He said David Russell, CEO of Galleon Gold. “We have only begun to scratch the surface in understanding the southern region but are pleased to see the numerous mineral intervals being encountered at the predicted depths.
Overview of drill holes
Nozzles WC-26-234 and WC-26-235 are designed to test Zone 9 and the southern areas. The objectives of Block 9 were to evaluate mineralization from the four stations that make up the company’s 86,500 tonne bulk sampling programme. The results of these holes indicate continuity of mineralization in this area and indicate that additional development could produce results similar to those expected from the combined sample. These holes have been extended beyond the wall of Zone 9 so that they intersect mineralization within the upper southern zones. The examination results for the Southern District objections are currently pending.
The upper southern areas showed continuity along strike and dip and were located 50 m from the slopes of the planned collected samples. The company began the 2026 drilling program by drilling the South Zone to take advantage of winter access to the area south of Block 9.
Holes WC-26-227 to 233 are designed to obtain information regarding the controls and extent of mineralization in the Southern Zone. All holes intersect mineralization within the upper, middle and lower southern zones. An early review of the 2026 South Central Zone intercepts indicates that the mineralized zones extend across the dominant rocks and more than 100 meters to the east of the diabase unit previously interpreted as the eastern edge of the South Zone mineralization.
Five (5) of the South Zone holes have been drilled 25 meters along strike (west to east) for the purposes of modeling and evaluating slope control of the high-grade mineralization seen in drill holes in 2022. Testing is still pending from holes WC-26-232 and WC-26-233, which were drilled 50 meters to the west of the intercepts mentioned in this press release.
Figures and tables
Figure 1 shows a 3D cross-sectional view of Zone 9, the southern regions, and the high-quality deep western zone. Figure 2 shows a cross section of 464,050E and the location of drill holes WC-26-234 and WC-26-235 as well as WC-26-230 and the lower part of WC-26-231. Figure 3 is a cross-section view of WC-26-227, 150 meters east of Figure 2. Table 1 includes a summary of selected gold intercepts announced in this news release.
Figure 1 – 3D cross section looking east
Figure 2 – Cross section 464,050E
Figure 3 – Cross section 464,200E
Table 1 – Screening results
The company is currently drilling in Area No. 9 at a depth of approximately 450 vertical meters below the surface. Pending inspections of drill holes in that area.
Technical content and qualified person
The technical content of this press release has been reviewed and approved by Leah Page, P.G.O., Vice President, Exploration and Qualified Person (“QP”) as defined in National Instrument 43-101 – Standards for Disclosure for Minerals Projects.
Quality Assurance (QA) / Quality Control (QC)
Quality control and assurance procedures and protocols are implemented to ensure that sampling and analysis of all exploration work is conducted in accordance with best practices. Core produced at the West Cache Property is delivered to the company’s logging facility in Timmins by a drilling contractor, with all logging, cutting, marking and packing completed under the supervision of qualified geologists. The NQ sized core is mostly sawed in half with half of the core prepared for shipping, while the other half is kept for future inspection verification.
Core samples are transported from the company’s Timmins logging facility to AGAT Laboratories in Thunder Bay, Ontario for prep and 30g fire assay analysis. Results are reported in batches of 60-72 samples and an average of 4-5 QC samples per certificate. Commercially prepared certified reference materials (CRM) and duplicate samples are included at an average rate of 6% to 8%. A minimum of one blank, standard and duplicate (pulp or coarse) is entered for every 50 samples and additional samples are included for quality control at the geologist’s discretion. All reported samples were examined and compared to the company’s internal and laboratory quality control samples.
About the West Cache Gold Project
The West Cache Gold Project is an advanced gold exploration project covering approximately 11,600 hectares and located 13 km west of Timmins, Ontario on Provincial Highway 101. It is located in the Western Porcupine Gold Camp along the Destor-Porcupine Fault zone within the Abitibi Greenstone Belt, approximately 7 km northeast of Pan American Silver’s Timmins West Mine. The mining lease area hosts an existing mineral resource estimate near the centre, with additional exploration targets to the north and south. The mineral resource estimate is located within the Porcupine Sedimentary Basin, a corridor with suitable rock structure that is more than 5 kilometers long on the property. The mineralization is open in all directions and at depth.
About Galleon Gold
Galleon Gold is developing the West Cache Gold Project through a disciplined de-risking strategy centered around resource growth and an upcoming 86,500-tonne bulk sampling program, positioning the company to unlock long-term shareholder value.
Forward-looking statements
This press 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, financing plans, proposed work, plans, bulk sampling program and other reports including PEA for its projects. Forward-looking statements are based on current expectations, beliefs, assumptions, estimates and forecasts about the business and markets in which Galleon Gold operates. Certain statements contained herein may be forward-looking statements that involve known and unknown risks and uncertainties. Without limitation, statements regarding the use of facility proceeds, the adequacy of funds to complete and complete the mineralization and potential 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 these forward-looking statements: changes in global prices of mineral commodities, general market conditions and uncertainty regarding access to additional capital, risks inherent in mineral exploration, delays in the receipt of governmental approvals, risks associated with development, construction, mining operations and activities of third party contractors, and 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 because actual results and future events could differ materially from those anticipated in such statements. Galleon Gold undertakes no obligation to update these forward-looking statements if circumstances or management’s estimates or opinions 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 the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
