Key facts
| Company | Galleon Gold Corp. (TSXV: GGO) |
|---|---|
| Commodity | Gold |
| Location | Canada |
| Stage | Early exploration |
About WEST CACHE GOLD PROJECT
The West Cache Gold Project is located in Bristol, Price and Ogden Townships in the Porcupine Mining Division, District of Cochrane, Province of Ontario. The land package totals 11,570 hectares and is comprised of a mining lease, mining licences of occupation (MLO), patent claims and mining claims. The mining lease hosts the current mineral resource estimate near the center. The Project is 100% owned by Galleon Gold. The property is bisected by highway 101 and can be accessed from the city of Timmins located 13 km to the east. The property is approximately 7 km northeast of Pan American Silver’s Timmins West Mine and 14 km southwest of Discovery’ Silver’s Hollinger Mine.
News releases55 on file
Galleon Gold Extends Zone #9 Corridor at West Cache to Over 500 Metres of Vertical Extent
Drilling at the 100%-owned West Cache Gold Project near Timmins, Ontario extended Zone #9 mineralization 360 metres down-plunge (350 metres down-dip) from the planned bulk sample stopes to a vertical depth of 500 metres. WC-26-238 returned 2.03 g/t Au over 23.25 m, including 6.01 g/t Au over 4.05 m; WC-26-240 returned 2.61 g/t Au over 12.0 m, including 3.32 g/t Au over 9.0 m; WC-26-236 returned 0.
Drill resultsGalleon Gold Awards Underground Development to Aki-Dumas, Advancing West Cache Bulk Sample Program
A Limited Notice to Proceed and Letter of Award for underground development at the West Cache Gold Project near Timmins, Ontario have been issued to Aki-Dumas Limited Partnership, a partnership between Mattagami First Nation and Dumas Contracting Ltd., a subsidiary of STRACON Group Holding Inc. Initial work covers detailed engineering, development planning, procurement of long-lead items and mobil
CorporateGalleon Gold Announces Retirement of Director
Mario Colantonio has retired as a director of Galleon Gold Corp., effective immediately. The company is advancing the West Cache Gold Project, including an upcoming 86,500-tonne bulk sample program.
ManagementGalleon Gold Hits 16.07 g/t Au Over 9.25 m in Major Down-Dip Extension of Zone #9 at West Cache
Drill hole WC-26-237 at the 100%-owned West Cache Gold Project near Timmins, Ontario returned 4.07 g/t Au over 40.9 m, including 12.69 g/t Au over 12.35 m and 16.07 g/t Au over 9.25 m. The intercept lies about 295 m down-plunge (275 m down-dip) from the planned bulk sample stopes and 440 vertical metres below surface, with roughly 200 m of projected plunge untested. Assays from WC-26-236, WC-26-23
Drill resultsGalleon Gold’s 2026 Drilling Confirms Down-Dip Continuity at Zone #9 and Expands South Zone Footprint
First results from an 18,000-metre 2026 drill program at the 100%-owned West Cache Gold Project near Timmins, Ontario returned 5.13 g/t Au over 9.97 m, including 8.81 g/t Au over 4.10 m, within 3.00 g/t Au over 18.75 m in hole WC-26-235, and 5.04 g/t Au over 5.91 m within 2.10 g/t Au over 22 m in WC-26-234. Hole WC-26-227 cut 5.16 g/t Au over 3.00 m 25 m below surface and 7.77 g/t Au over 1.00 m i
Drill resultsGalleon Gold Completes Box Cut Excavation at West Cache Project
Box cut excavation has been completed at the 100%-owned West Cache Gold Project near Timmins, Ontario, with bedrock now fully exposed and excavation walls built at a 4:1 slope ratio, and armoring of the walls underway. Geologists have begun mapping and sampling the exposed bedrock to assess the westward extension of mineralized zones in the current Mineral Resource Estimate. Preparation for constr
CorporateGalleon Gold Provides Corporate and Operational Update
Surface development at the West Cache Gold Project near Timmins, Ontario is on schedule, with the Category 2 Permit to Take Water received following the Category 3 PTTW earlier in March, hydro line installation substantially complete and energization expected in early April, box cut overburden removal progressing, the temporary water treatment system commissioning underway, and an RFP issued for u
CorporateGalleon Gold Receives Key Water Permit and Initiates Box Cut at its West Cache Gold Project in Timmins, Ontario
A Category 3 Permit to Take Water has been issued by the Ontario Ministry of the Environment, Conservation and Parks for the 100%-owned West Cache Gold Project in Timmins, Ontario, allowing Galleon Gold to begin primary box cut excavation toward underground portal and ramp access for a planned 86,500-tonne bulk sample program. The company also received MECP compliance approval for air and noise. S
CorporateGalleon Gold Moves West Cache into Execution Phase with Surface Development Underway
Surface site development has begun at the wholly owned West Cache Gold Project near Timmins, Ontario, supporting extraction of an approved 86,500-tonne bulk sample. The initial construction phase was awarded following an RFP to Aki-Caron, a joint venture between Caron Equipment Inc. and Mattagami First Nation, covering the mine area pad, access and haul roads, overburden boxcut excavation, stockpi
CorporateGalleon Gold's 2025 Year in Review and Execution Roadmap for 2026
A total of $91.5 million was raised in 2025 — $15.5 million in convertible debentures, $30 million in equity and a $46 million senior secured debt facility — funding a planned 86,500-tonne bulk sample at the West Cache Gold Project in Timmins, Ontario, for which Ontario accepted the Closure Plan in April 2025. Pan American Silver invested $8 million in convertible debt and $11.25 million in equity
CorporateGalleon Gold Completes Repurchase of Royalty on the West Cache Project
A 3% net smelter return royalty on the West Cache Gold Project in Ontario has been repurchased from a wholly-owned subsidiary of Newmont Corporation, completing a transaction first announced October 16, 2025. Galleon Gold exercised its right to buy back 1% of the royalty for $1,000,000 and paid $10,000,000 for the remaining 2%, in Canadian dollars. The royalty is fully extinguished, leaving West C
AcquisitionGalleon Gold Completes $46 Million Senior Secured Debt Financing with Pan American Silver Corp
A credit facility of up to $46 million has been entered into with Pan American Silver Corp., with a 24-month maturity, interest at the 12-month prime reference rate plus 7.00%, a 2.5% arrangement fee, a 1.6% annual standby fee, and first-ranking security over substantially all assets, including the West Cache Gold Project in Ontario. Funds will advance underground development and infrastructure fo
FinancingGalleon Gold Announces Grant of Stock Options
A total of 4,530,000 stock options have been granted to directors, officers, employees and consultants under Galleon Gold's stock option plan. Each option is exercisable into one common share at $0.73, vests immediately and expires on December 8, 2030. The company is advancing the West Cache Gold Project through resource expansion and an upcoming 86,500 tonne bulk sample program.
CorporateGalleon Gold Announces Closing of Oversubscribed $30M Financing with Lead Orders from Pan American Silver and Eric Sprott
Closing of equity financings totalling $30,000,000 through the issue of 50,000,000 units at $0.60 per unit, comprising 31,250,000 units under a brokered offering including full exercise of the over-allotment option and 18,750,000 units in a non-brokered private placement with Pan American Silver Corp., which subscribed for $11,250,000; Eric Sprott subscribed for $3,000,000 and insiders for 5,550,0
FinancingGalleon Gold Receives Indicative Term Sheet for a $46 Million Debt Facility from Pan American Silver and Announces $25 Million in Equity Financings
An indicative term sheet has been executed for a $46 million debt facility from Pan American Silver Corp., alongside a $10,250,000 non-brokered private placement to Pan American and a $14,750,000 best-efforts LIFE offering of 24,583,333 units, both priced at $0.60 per unit with half-warrants exercisable at $0.75 for 24 months. Proceeds will fund surface infrastructure and underground development f
FinancingGalleon Gold Announces Issuance of Shares for Interest Payment on Convertible Debentures
An aggregate of $132,224.38 in accrued interest on convertible debentures issued April 12, 19 and 29, 2024 has been satisfied through the issuance of 202,635 common shares to debenture holders. The shares are subject to a four month and one day hold period ending March 25, 2026, and final TSXV acceptance has been received. Galleon Gold is focused on the West Cache Gold Project in Timmins, Ontario.
FinancingGalleon Gold Enters into Agreement to Repurchase Royalty on the West Cache Project
An agreement with a wholly-owned subsidiary of Newmont Corporation will allow Galleon Gold to reacquire the 3% net smelter return royalty on its West Cache Gold Project in Timmins, Ontario. The company will first exercise its existing right to repurchase 1% for C$1,000,000, then pay C$10,000,000 for the remaining 2%, subject to raising sufficient funds, with closing expected on or before December
AcquisitionGalleon Gold Initiates Soil Sampling Program at West Cache Gold Project
A soil sampling program has begun at the 100%-owned West Cache Gold Project near Timmins, Ontario, with approximately 1,000 samples planned for MMI analysis to refine drill targets in four areas (A1–A4) outside the Mineral Resource Area. The program follows roughly 2,200 soil samples collected from 2021 to 2024; Anomaly A1 returned MMI response ratios up to 50X background for gold (2.5 ppb) and 42
Drill resultsGalleon Gold Welcomes Strategic Investment by Pan American Silver and Signs an MOU for Toll Processing at the Bell Creek Mill
Pan American Silver has agreed to a non-brokered private placement of an unsecured convertible debenture for gross proceeds of C$8,000,000, with a 36-month term, 10.0% annual interest and a conversion price of $0.45 per share, which post-conversion would give Pan American 19.59% of shares on a partially diluted basis. Galleon also signed an MOU with Pan American subsidiary Lake Shore Gold for toll
FinancingGalleon Gold Completes $7.5M Oversubscribed Private Placement of Convertible Debentures
The second and final tranche of a non-brokered convertible debenture private placement has closed, with 20 debentures issued for gross proceeds of $1,000,000, bringing total Offering proceeds to $7,500,000. The debentures carry a 36-month term, 8.0% annual interest, and convert at $0.30 per common share; finders received $60,000 cash and 200,000 warrants exercisable at $0.36 over two years. Procee
FinancingGalleon Gold Closes the First Tranche of a $7.5M Oversubscribed Private Placement of Convertible Debentures
The first tranche of a non-brokered private placement closed with 130 convertible debentures issued for gross proceeds of $6,500,000, with the remaining $1,000,000 of the $7.5M offering expected to close shortly. The debentures carry a 36-month term, 8.0% annual interest and a $0.30 per share conversion price; finders received $369,000 cash and 1,230,000 warrants exercisable at $0.36 over two year
FinancingGalleon Gold Upsizes Financing
A non-brokered private placement of unsecured convertible debentures has been upsized and capped at C$7,500,000 gross proceeds. The debentures carry a 36-month term, 8.0% annual interest payable in cash or common shares at the investor's option, and convert at $0.30 per share. Proceeds will fund exploration and advancement of the West Cache Gold Project in Timmins, Ontario and general working capi
FinancingGalleon Gold Announces Private Placement of Convertible Debentures
A non-brokered private placement of unsecured convertible debentures priced at $50,000 per Debenture has been initiated for gross proceeds of up to C$7,000,000, with Eric Sprott and management subscribing. The Debentures have a 36-month term, bear 8.0% annual interest and convert at $0.30 per share; finders' fees of 6% cash and 6% warrants exercisable at $0.36 for two years apply. Closing is expec
FinancingGalleon Gold Commences Site Preparation for West Cache Bulk Sample Project
Surface site preparations have begun for an advanced exploration bulk sample at the 100%-owned West Cache Gold Project in Timmins, Ontario, following receipt of a Permit to Remove Forest Resources, with timber harvesting contracted to Caron Equipment Ltd. Knight Piésold Ltd. will complete Issued for Construction drawings and RFPs for the box cut, pond and water management systems, anticipated for
CorporateGalleon Gold Receives Closure Plan Approval for West Cache Gold Project
Ontario's Ministry of Energy and Mines has accepted and filed the closure plan for the 100%-owned West Cache Gold Project in Timmins, Ontario, confirmed on April 9, 2025. The approval allows an advanced exploration program including extraction of an 86,500-tonne bulk sample, expected to grade 8.13 g/t gold and contain an estimated 22,600 ounces of gold before recoveries. Data from the underground
CorporateGalleon Gold Expands Timmins Land Position
An agreement has been signed to acquire 66 mineral claims totaling 1,409 hectares in Godfrey and Bristol Townships, contiguous to the West Cache Gold Project 13 kilometres west of Timmins, Ontario, consolidating the claim block to 11,570 hectares. Galleon Gold will issue 100,000 common shares to 2205730 Ontario Inc. for a 100% interest, with closing expected by the end of March 2025 subject to TSX
CorporateGalleon Gold Receives Invitation to Submit Closure Plan for West Cache Project Bulk Sample Program
Ontario's Ministry of Mines has invited Galleon Gold to submit a Closure Plan for a bulk sample at its 100%-owned West Cache Gold Project near Timmins, Ontario, along with Financial Assurance of $1,390,978. MINES has 45 days from receipt to accept the plan for filing, after which surface work and pre-development activities can begin. The bulk sample is designed for approximately 86,500 tonnes grad
CorporateGalleon Gold Announces the Passing of Timothy G. Smith, Chief Operating Officer
Chief Operating Officer Timothy G. Smith has died. Smith, who had over 30 years of mining industry experience, had served with Galleon Gold since 2021, previously holding roles including Vice President – U.S. & Canadian Operations at Apollo Gold, General Manager of the Montana Tunnels mine and COO of Fire River Gold. Galleon Gold is focused on the West Cache Gold Project in Timmins, Ontario, and i
ManagementGalleon Gold Announces up to 98% Gold Recoveries from Metallurgical Studies at West Cache Project
Metallurgical test work by SGS Canada's Lakefield, Ontario laboratory on a composite sample representing the planned 86,500-tonne exploration bulk sample at the West Cache Gold Project near Timmins, Ontario returned up to 98.5% gold recovery from rougher flotation and up to 97.1% from gravity tailings flotation. The composite, made up of 29 drill core samples from three holes into the Zone #9 area
Study resultsGalleon Gold Receives Exploration Drilling Permit for West Cache Gold Project
A new Exploration Drilling Permit has been granted by the Ontario Ministry of Mines, Mineral Development Branch for the 100%-owned West Cache Gold Project near Timmins, Ontario, increasing the exploration area to approximately 3,200 hectares and covering all of Mining Lease No. 110033. From 2020 to 2023 under the prior permit, 227 drill holes totalling 50,885 metres were completed. Separately, per
CorporateGalleon Gold Announces 2024 Development Plans
Plans for 2024 at the West Cache Gold Project near Timmins, Ontario centre on an underground bulk sample designed for approximately 86,500 tonnes grading 8.13 g/t gold, containing an estimated 22,600 ounces of gold before recoveries, with 2,525 metres of underground development and four stopes on two production levels. Work supporting the Closure Plan application, Environmental Compliance Approval
CorporateGalleon Gold Announces Closing of Private Placement
A non-brokered private placement closed for gross proceeds of C$275,000 through the issuance of 1,833,333 flow-through units at C$0.15 per unit, each unit comprising one common share and one-half warrant exercisable at C$0.20 until December 29, 2025. Proceeds will fund exploration and advancement of the West Cache Gold Project in Timmins, Ontario, and will be renounced to subscribers with an effec
FinancingGalleon Gold Files Notice of Project Status with Ministry of Mines – Moving the West Cache Gold Project to Advanced Stage Exploration
A Notice of Project Status – Form 1 – Mining Act was submitted to the Ontario Ministry of Mines on November 16, 2023, moving the 100%-owned West Cache Gold Project near Timmins, Ontario from exploration to advanced exploration status and starting formal permitting. The Company also filed the Project Definition and will provide a draft Closure Plan, and will begin public consultation. The planned b
CorporateGalleon Gold Provides Update on Permitting at the West Cache Gold Project
Detailed engineering and permitting are advancing for an underground bulk sample at the 100%-owned West Cache Gold Project near Timmins, Ontario, designed to produce approximately 86,500 tonnes grading 8.13 g/t gold containing an estimated 22,600 ounces, prior to recoveries, with ore to be shipped to a local mill. Ramp design is complete, totalling 2,525 metres of underground development, and Hydr
CorporateGalleon Gold Engages Independent Trading Group as its Market Maker
Independent Trading Group has been engaged to provide market-making services for Galleon Gold on the TSX Venture Exchange and other trading venues, subject to regulatory approval. ITG will be paid $5,000 per month in advance under an initial three-month term that renews monthly unless terminated on 30 days' notice, with no performance factors and no shares or options as compensation. Galleon Gold
CorporateGalleon Gold’s West Cache Project Delivers More Gold
Assay results from the 2022/23 exploration and geomechanical drilling at the West Cache Gold Project near Timmins, Ontario include geomechanical hole WC-22-219A, which cut 5.53 g/t gold over 12.5 m in Zone #9, including 9.97 g/t gold over 5.0 m. South Zone holes returned 8.76 g/t gold over 1.8 m (WC-22-131EX), 2.30 g/t over 5.5 m (WC-22-216) and 3.20 g/t over 3.2 m (WC-22-214). The programs totall
Drill resultsGalleon Gold Outlines Development Plans for 2023
Plans for 2023 at the West Cache Gold Project near Timmins, Ontario include completing a geotechnical overburden drill program, filing a permit application for an underground bulk sample, public consultation meetings and, pending permit approval, construction of a portal and decline. The bulk sample is estimated at 86,500 tonnes grading 8.13 g/t gold, containing an estimated 22,600 ounces. A total
CorporateGalleon Gold Closes Second Tranche of Private Placement
A second tranche of Galleon Gold's private placement closed with the issuance of 80,000 flow-through units, bringing aggregate gross proceeds from both tranches to C$1,849,661 from 583,334 Units at C$0.24 and 6,575,620 FT Units at C$0.26. Each unit includes one-half warrant exercisable at C$0.45 for 24 months. Proceeds will fund exploration at the West Cache Gold Project in Timmins, Ontario, and w
FinancingGalleon Gold Announces Closing of First Tranche of Private Placement
A first tranche of a non-brokered private placement closed for gross proceeds of C$1,828,861, comprising 583,334 units at C$0.24 and 6,495,620 flow-through units at C$0.26, each with one-half warrant exercisable at C$0.45 until December 14, 2024. Proceeds will fund exploration at the West Cache Gold Project in Timmins, Ontario, and working capital; additional tranches may bring the total to C$3 mi
FinancingGalleon Gold Announces Progress on Underground Bulk Sample Permitting at West Cache Gold Project
Permitting and detailed engineering are advancing for an underground bulk sample at the 100%-owned West Cache Gold Project near Timmins, Ontario, with the bulk sample estimated at 86,500 tonnes at 8.13 g/t for 22,600 ounces of gold from a two-production-level, four-stope longhole plan. A nine-hole, roughly 900 m geomechanical drill program for crown pillar assessment and the hydrogeology assessmen
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