Galleon Gold Commences Site Preparation for West Cache Bulk Sample Project
Rhea-AI Summary
Galleon Gold Corp (TSXV: GGO) has initiated surface site preparations for its advanced exploration development Bulk Sample project at the 100% owned West Cache Gold Project in Timmins, Ontario.
The company has received a Permit to Remove Forest Resources and begun timber harvesting operations, contracting Caron Equipment of Timmins. The harvested trees will be partially used for on-site construction, with the remainder sold to the lumber industry.
Knight Piésold will complete the Issued for Construction drawings and detailed Requests for Proposal for the box cut, pond, and water management systems, expected in June 2025. J.L. Richards and Associates will handle the final design and RFP for electrical distribution lines. The company is also processing operating permit applications for Environmental Compliance Approval and Permit to Take Water.
Positive
- 100% ownership of West Cache Gold Project
- Project development progressing with necessary permits being secured
- Multiple contractor partnerships established for project execution
Negative
- Extended timeline of 12-18 months before project completion
- Multiple pending permit approvals still required
News Market Reaction
On the day this news was published, PNCKF gained 0.54%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - April 16, 2025) - Galleon Gold Corp. (TSXV: GGO) (FSE: 3H90) (the "Company" or "Galleon Gold") is pleased to announce it has commenced surface site preparations for advanced exploration development ("Bulk Sample") at its
David Russell, President and CEO of Galleon Gold commented, "It is with great satisfaction that we announce the start of groundwork preparation and detailed planning for the West Cache Bulk Sample. We look forward to providing periodic updates on our progress over the next twelve to eighteen months as the next phase of exploration and development at West Cache gets underway."
First Steps Underway
The Company announces it has received a Permit to Remove Forest Resources. With this permit in hand, the Company has commenced the required timber harvesting operations to prepare the Project site for future development. The majority of the trees harvested will be used on site for construction purposes, with the balance being sold to the lumber industry. The Company awarded the tree harvest contract to Caron Equipment Ltd. of Timmins, Ontario.
The Company has contracted Knight Piésold Ltd. to complete the Issued for Construction (IFC) drawings for the construction and detailed Requests for Proposal (RFP) for the box cut, pond and water management systems, which are anticipated for release in June 2025. In addition, J.L. Richards and Associates Ltd. has been awarded the contract to complete the final detailed design and RFP for the high voltage and secondary electrical distribution lines for the West Cache Project.
Operating permit applications for Environmental Compliance Approval (ECA), which includes air, noise, waste, and industrial sewage, along with the Permit to Take Water (PTTW), which regulates the usage of surface water and the dewatering of underground mine workings, are all in the works and proceeding accordingly.
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 has begun.
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/248625
FAQ
What is the timeline for Galleon Gold's West Cache Bulk Sample project completion?
What permits has Galleon Gold (GGO) secured for the West Cache project?
Who are the key contractors for Galleon Gold's West Cache development?
What is the purpose of the timber harvesting at Galleon Gold's West Cache site?
