THE PROPERTY

The Nelligan property is located in the eastern central part of Nelligan Township, approximately 20 km west of the town of Desmaraisville, Quebec in the Val-d’Or mining district. The property is located in the Bachelor Lake mining camp and is just west of the Coniagas mine, as past producer of zinc, lead and gold. Excellent road access is provided by a logging road that connects the Senneterre-Chibougamau Highway to the property. Galleon Gold owns 25 minerals claims on the Nelligan property.

HISTORY AND GEOLOGICAL BACKGROUND

The property is located in a greenstone belt composed mainly of sequences of meta-volcanic and meta-sedimentary rocks cut by faults and deformation zones that lie in a northeast to southwest direction. There are also many suites of mafic intrusive rocks.

The Bachelor Lake Mining Camp is located nearby and is known for its precious metal and polymetallic potential. This property is located directly to the west of the former Coniagas Mine. Previous historical work includes trenching by the Canadian Nickel Company (circa 1960-1970). A series of trenches by INCO revealed the presence of mafic and ultramafic rocks with nickel mineralization. Historical grab samples with up to 10% nickel and 0.6% cobalt were obtained. A review of existing data revealed a strong linear and eschelon magnetic geophysical feature with an east-northeast trend.