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The latest update is out from Galleon Gold ( (TSE:GGO) ).
Galleon Gold has been invited by the Ministry of Mines to submit a Closure Plan for a Bulk Sample Program at its West Cache Gold Project. This step is crucial for the pre-feasibility stage and aims to minimize risks associated with mine development. The program will produce data to support mine planning and includes submitting a financial assurance of approximately $1.39 million. Once the Closure Plan is accepted, Galleon Gold will proceed with surface work and pre-development activities, alongside permit applications for environmental compliance. The bulk sample targets an estimated 22,600 ounces of gold, demonstrating the project’s potential to become a significant gold mining operation.
More about Galleon Gold
Galleon Gold Corp. is a mining company focused on gold exploration and development. Their primary project is the West Cache Gold Project located in Timmins, Ontario.
YTD Price Performance: 25.68%
Average Trading Volume: 50,178
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$15.45M
See more insights into GGO stock on TipRanks’ Stock Analysis page.