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VANCOUVER, BC, Jan. 18, 2022 /CNW/ - 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:
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:
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:
"The results from the drilling at Dynamite Hill, Kaniago West and Midras South demonstrate the long term exploration potential at the AGM," said Matt Badylak President and Chief Executive Officer. "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."
Dynamite Hill Overview (see Table 1 for full drilling results)
The Dynamite Hill deposit is located on the Adubea Mining Lease, approximately 7km northeast of the AGM's processing plant (shown in Figure 1). The AGM mined the previous Reserve base at the deposit, with mining being completed in late 2019. However, indicated mineralization remained open at depth at cessation of mining. Recent drilling has confirmed that indicated mineralization continues to 100m+ beneath the existing pit bottom. As pictured in Figures 3 and 4, this indicated mineralization appears to be supported at depth with indicated geological continuity. Select intercepts from Dynamite Hill include:
The Dynamite Hill deposit is situated along the Nkran shear zone, a laterally extensive structure recognized from airborne VTEM and magnetic surveys and extensively mapped on the ground. The Nkran shear zone plays host to the Nkran, Akwasiso and Asuadai deposits, part of the prominent northeast striking Asankrangwa gold belt.
Indicated mineralization at Dynamite Hill is spatially associated with two en echelon, steeply west dipping tonalite intrusives that have preferentially intruded along a northeast trending corridor. Of note, a second, much smaller vertical to steeply east dipping mineralised structure was discovered during this campaign. Indicated mineralization occurs in the intrusives and in the surrounding deformed sandstone, siltstone and phyllite rock package in a similar fashion to the nearby Nkran deposit. These intrusives are believed to act as excellent hosts to mineralising fluids. Stratigraphy and structure are both steeply dipping to the northwest as they do for most of the Asankrangwa Belt gold deposits. Indicated gold mineralization at Dynamite Hill occurs in quartz veins and in association with silica flooding, pyrite, arsenopyrite, and traces of base metal sulfides, within a broader envelope of quartz-sericite-pyrite and carbonate alteration.
Kaniago West Overview (See Table 1 for full drilling results)
The Kaniago West prospect, acquired as part of the Midlands Mineral Corporation property transaction in 2015 (see news release dated March 25, 2015) is conveniently located just 5km NW of the AGM's processing plant (shown in Figure 1). Recent drilling has intersected broad zones of quartz breccia and veining with associated visible gold mineralization beneath and along strike from narrow, near surface zones discovered by Midlands. Indicated mineralization remains open at depth and along strike. Select intercepts from Kaniago West include:
The Kaniago West prospect lies along the Esaase - Abore shear zone, a laterally extensive structure recognized from airborne VTEM and magnetic surveys and extensively mapped on the ground. The structure plays host to the Esaase and Abore deposits, part of the prominent northeast striking Asankrangwa gold belt. Anomalous gold-in-soils can be traced for several kilometres NE of the current Kaniago West drilling and as yet untested alluvial gold workings can be seen to the SW.
Indicated mineralization at Kaniago West is developed within a package of deformed sandstone, siltstone and phyllite. Stratigraphy and structure are both steeply dipping to the northwest as they do for most of the Asankrangwa Belt gold deposits. Indicated gold mineralization at Kaniago West occurs in association with silica flooding [and] distinctive stylolitic quartz veining (similar to that noted at Esaase) with patchy visible gold and pyrite, within a broader envelope of quartz-sericite-pyrite and carbonate alteration.
Midras South Overview (See Table 1 for full drilling results)
Midras South is located on the Datano Mining Lease, 5km south of the AGM's processing plant (shown in Figure 1). The drill program at Midras South was designed to expand on the known mineralized systems in the area, and although only partially completed due to access issues, did provide some of the better high grade intercepts this year to date. Select intercepts from Midras South include:
The Midras South prospect lies along the Takorase - Afraso shear zone, a laterally extensive structure recognized from airborne VTEM and magnetic surveys and extensively mapped on the ground. Midras South consists of 3 distinct zones of indicated mineralization, inferred to be fault offsets of the one ore zone.
Similar in character to Esaase and Kaniago West, indicated mineralization at Midras South is developed within a package of deformed sandstone, siltstone and phyllite. Stratigraphy and structure are both steeply dipping to the northwest as they do for most of the Asankrangwa Belt gold deposits. Indicated gold mineralization at Midras South occurs in association with quartz veining, arsenopyrite and pyrite, within a broader envelope of quartz-sericite-pyrite and carbonate alteration.Qualified Person and QA/QC
Greg Collins, MAusIMM CP (Geo) and SEG Fellow, Vice President Exploration of Galiano Gold Inc., is a Qualified Person as defined by Canadian NI 43-101 and has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Collins is responsible for all aspects of the work including the Data Verification and Quality Control/Quality Assurance programs and has verified the data disclosed. Mr. Collins is not independent of Galiano Gold Inc.
Certified Reference Materials and Blanks are inserted by Galiano Gold into the sample stream at the rate of 1:14 samples. Field duplicates are collected at the rate of 1:30 samples. All samples have been analysed by Intertek Minerals Ltd. in Tarkwa, Ghana with standard preparation methods and 50g fire assay with atomic absorption finish. Intertek Minerals Ltd. does their own introduction of QA/QC samples into the sample stream and reports them to Galiano for double checking. Higher grade samples are re-analysed from pulp or reject material or both. Intertek is an international company operating in 100 countries and is independent of Galiano. It provides testing for a wide range of industries including the mining, metals, and oil sectors.
About Galiano Gold Inc.
Galiano is focused on creating a sustainable business capable of long-term value creation for its stakeholders through exploration and disciplined deployment of its financial resources. The company currently operates and manages the Asanko Gold Mine, located in Ghana, West Africa which is jointly owned with Gold Fields Ltd. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities. For more information, please visit www.galianogold.com.
