That’s the nice thing about exploration: you never know exactly what’s coming up. Routine can suddenly become a new discovery. That is exactly what it seems now Galleon Gold (TSXV: GGO; FRA: 3H9) happened to be. The Company is routinely completing a 15,000 meter infill drilling program on its West Cache project in Timmins this summer.
But instead of just confirming known mineralization, the company announced a veritable new discovery yesterday! At just 153 meters vertical depth, core hole WC-20-030 intersected a wide 9.7 meter long zone grading 7.16 g / t gold including a higher grade subinterval grading 14.75 g / t Au over 3.0 meters. That would be remarkable in itself, but it’s the context that really makes this result special. The geologists suspect a connection to the Discovery borehole TPW-11-30, which was made exactly ten years ago.
Figure 1: Location of West Cache just eight miles outside of Timmins, Ontario.
Figure 2: Geologists speculate about a connection between WC-20-030 near the surface and the mineralization located vertically around 700 meters lower, which was discovered ten years ago, among other things, by the TPW-10-30 well. Are the two high grade zones possibly related? This is currently being tested through further drilling.
Figure 3: There are around 500 meters and ten years between the two drill cores. Because WC 20-030 has now been drilled, while TPW 10.30 was already drilled in 2010. The geologists are encouraged by the fact that the drill cores show the same type of mineralization.
Ongoing drilling and geological work is now focused on determining whether the new discovery is actually related to the depth zone in the West Deep area. West Deep contains the most consistent high grade gold mineralization found on the property to date. The floor of the West Deep Gold mineralization currently being drilled is located 940 meters vertically below the rock surface. The geologists believe they can identify similarities between the two gold zones: both are broader and higher-grade gold zones with pronounced pyrite and sphalerite sulfide mineralogy. In addition, similar sediments dominate the composition of the host rock.
R. David Russell, President and CEO of Galleon Gold, commented, “We are pleased with the ongoing results of definition drilling on the property and are particularly interested in what the discovery hole (WC-20-030) will do in the up dip extension of the high grade Zone West Deep could be. The infill drilling continues to define and expand known gold zones and a more thorough examination of the entire core hole has identified interesting new mineralized shears. When we look at the size of the property and the extent of currently known gold mineralization in the context of the current gold market, it is hard not to be enthusiastic. “
West Cache is ideally located just west of Timmins with excellent motorway and electricity access. If the drilling continues to produce positive results in a timely manner, Galleon shareholders can look forward to updating the resource and completing a PEA.
The West Cache gold project is located eight miles west of Timmins Ontario and is accessed by Provincial Highway 101 and secondary access roads. It is located 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.
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