Tag: Galleon Gold Corp.

Galleon Gold released a maiden PEA including an updated mineral resource estimate (MRE) for its 100%-owned West Cache Au project in the Timmins area of Ontario. The results outline an after-tax NPV5% of C$240M with indicated resources of ~472koz Au and inferred resources of ~1.1Moz Au. This represents a further 20% upside to the September 2020 MRE. With a realistic time frame to initial production, manageable initial capex, and plenty of exploration planned over the next two years, we believe this PEA demonstrates robust economics and blue-sky potential at West Cache. We have updated our valuation with a mine model to come up with a revised target for Galleon.

Galleon Gold provided an updated mineral resource estimate (MRE) for its 100%-owned, West Cache Au project near Timmins, Ontario. The new MRE of ~1.3M oz Au represents a 20% increase in contained ounces over the previous resource estimate largely by incorporating more open pit material, and overall, it is in line with our expectations. We view the completion of the MRE as an important milestone for Galleon, as it will form the basis for the upcoming PEA on the project.