Galiano Gold (TSX: GAU)
Provide an update of drilling results from its 2021 exploration program at the Asanko Gold Mine, located in Ghana.
The results included some high grade gold over long intercepts, such as Hole DYPC21-139 intersected 40.1m at 2.4 g/t Au.
|Galiano Gold||TSX: GAU|
|Market Cap||C$161 @ 70c|
|Location||Asante, Ghana, West Africa|
GALIANO GOLD PROVIDES EXPLORATION DRILLING UPDATE
VANCOUVER, BC, Jan. 18, 2022 /PRNewswire/ – Galiano Gold Inc. (“Galiano” or the “Company”) (TSX: GAU) (NYSE: GAU) is pleased to provide an update of drilling results from its 2021 exploration program at the Asanko Gold Mine (“AGM”), located in Ghana. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE, NYSE: GFI), with the JV managed and operated by Galiano.
Exploration activity in the first half of 2021 focused on Miradani North (drill results were reported in news releases dated February 25, 2021 and May 20, 2021).
Exploration activity in the second half of the year focused on expanding existing resources and testing near-mine targets at three properties: Dynamite Hill,Kaniago West and Midras South.
A summary of each of these properties along with detailed drilling results are shown below.
Dynamite Hill Highlights
30 holes have been drilled at Dynamite Hill in 2021, totalling 6,110m (3,897m diamond core (“DC”) and 2,213m reverse circulation (“RC”)), including the following highlighted intercepts:
- Hole DYPC21-124 intersected5.1m at 10.5 g/t Au(from 232.9m)
- Hole DYPC21-125 intersected23.8m at 1.9 g/t Au(from 201.2m)
- Hole DYPC21-139 intersected40.1m at 2.4 g/t Au(from 146m)
- Hole DYPC21-140 intersected33.2m at 2.6 g/t Au(from 140m)
Kaniago West Highlights
27 holes have been drilled at Kaniago West in 2021, totalling 4,508m (1,600m DC and 2,908m RC), including the following highlighted intercepts:
- Hole KNPC21-008 intersected25m at 1.2 g/t Au(from 243m)
- Hole KNPC21-009 intersected11.6m at 3.6 g/t Au(from 196.4m),14.4m at 1.5 g/t Au, (from 215.6m), and11.0m at 1.2 g/t Au(from 260m)
- Hole KNRC21-017 intersected24m at 1.8 g/t Au(from 33m)
Midras South Highlights
19 holes have been drilled at Midras South in 2021, totalling 3,724m (1,163m DC and 2,561m RC), including the following highlighted intercepts:
- Hole MSPC21-088 intersected6m at 8.6 g/t Au(from 65m)
- Hole MSPC21-096 intersected8m at 5.3 g/t Au(from 275m)
- Hole MSPC21-098 intersected6m at 2.8 g/t Au(from 103m), and19.2m at 9.1 g/t Au(from 184m)
Galiano Gold management comments
“The results from the drilling at Dynamite Hill, Kaniago West and Midras South demonstrate the long term exploration potential at the AGM.
“We will publish an updated Mineral Reserve and Resource statement later in Q1, 2021 which will include a maiden Mineral Resource for Miradani and a Mineral Reserve and Resource for Dynamite Hill, a previously operating pit.
“Both Kaniago West and Midras South are located within a 10km radius of the processing plant and have shown promising intercepts. We expect to continue to drill out these properties in 2022.
“In addition to these targets our 2022 drilling will also focus on exploring the underground potential at both Nkran and Miradani. Deep drilling at both projects is planned to commence in early 2022.”
Matt Badylak President and Chief Executive Officer, Galiano Gold
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