Galleon Gold Step-Out Holes Intersect Gold Around the Zone #9 High-Grade Core at West Cache
Galleon’s envelope step-outs hit targets while grades fade to 1-2.5 g/t against the core at a 52-week high.
Galleon Gold Corp. (GGO) has released assay results from four step-out drill holes—WC-26-243, -245, -246, and -247—targeting the broad mineralized envelope surrounding the high-grade core of Zone #9 at its 100%-owned West Cache Gold Project near Timmins, Ontario. These results follow earlier definitions of the high-grade core in 2026 by holes WC-26-237 (16.07 g/t Au over 9.25 m), WC-26-239 (6.25 g/t Au over 10.2 m), and WC-26-241 (6.8 g/t Au over 19.45 m). Zone #9 is described as having a vertical extent of 500 m and remains open up-dip and down-dip.
The specific intercepts from the step-out holes are as follows:
- WC-26-243: 1.56 g/t Au over 7.0 m (TT 6.58 m), including 4.72 g/t Au over 1.90 m.
- WC-26-245: 1.07 g/t Au over 25.8 m (TT 25.13 m), including 1.90 g/t Au over 5.75 m and 1.70 g/t Au over 8.05 m; plus a separate footwall intercept of 5.32 g/t Au over 1.90 m, including 9.83 g/t Au over 1.00 m.
- WC-26-246: 2.52 g/t Au over 26.5 m (TT 25.60 m), including 4.02 g/t Au over 7.0 m and 4.28 g/t Au over 8.0 m.
- WC-26-247: 1.01 g/t Au over 18.5 m (TT 17.87 m), including 2.21 g/t Au over 3.0 m.
The company has completed 36 holes in its 2026 drilling programme, with the current hole identified as WC-26-268.
Galleon Gold Corp. (GGO) is an advanced explorer and developer, fully funded with $32.1 million in cash and a $35 million undrawn facility, currently executing an 86,500-tonne bulk sample. The company’s equity is priced based on its development path and Zone #9 growth potential rather than on any single drill hole.
The recent drilling results provide genuine new information regarding envelope continuity around the core, with all four step-out holes hitting targets and supporting the resource model. However, several key elements are not new: the 500-meter vertical extent, the "high-grade core within a broad envelope" thesis, and the existence of the deeper shoot were all disclosed earlier in 2026.
The expectation anchor for the project remains WC-26-237, reported on May 27, 2026, which returned approximately 148 grams per meter at 16 grams per tonne, reinforced by WC-26-241 on July 30. The stock has roughly doubled from its December 2025 and October 2025 lows, sitting at a new 52-week high of C$1.36. These recent results are envelope step-outs rather than attempts to repeat the core, meaning their high grade is not the benchmark against which they should be judged. Evaluated against their specific purpose of confirming the envelope, the step-outs have succeeded.
They do not materially change the scale, grade, or odds compared to what is already known and priced into the market.
Galleon Gold Corp. (GGO) is a single-asset developer focused on its 100%-owned West Cache Gold Project. The property spans approximately 11,600 hectares and is located about 13 kilometers west of Timmins on Highway 101, situated within the Western Porcupine camp on the Destor-Porcupine Fault Zone. The site lies roughly 7 kilometers from Pan American Silver's Timmins West Mine.
The company’s 2022 resource estimate includes an Indicated category of 4,051 kilotonnes at 3.63 grams per tonne (472,000 ounces) and an Inferred category of 11,788 kilotonnes at 2.87 grams per tonne (1,088,000 ounces). This totals approximately 1.56 million ounces at a 1.6 grams per tonne underground cutoff, with no reserves reported. A 2022 preliminary economic assessment (PEA) provided a post-tax NPV5% of C$240 million at US$1,700 per ounce and C$395 million at US$2,000 per ounce. The PEA predates all 2026 work, and the provided materials do not specify capital expenditure, all-in sustaining costs, or mine life.
Development activities include a fully funded 86,500-tonne bulk sample. Surface work is complete, the box cut is finished, and an underground ramp is advancing in partnership with Aki-Dumas. Galleon has also signed a toll-milling memorandum of understanding with Pan American Silver, and the project’s royalty has been fully extinguished, leaving the asset 100% unencumbered.
The company’s capital structure consists of approximately 135 million basic shares and 240 million fully diluted shares. It holds approximately C$60.2 million in face value convertible debentures and a $46 million credit facility with Pan American Silver. Notable holders include Eric Sprott, Michael Gentile, and Pan American Silver. Management is led by David Russell, who built the Black Fox project.