News Bureau

 
 
August 10, 2020

Galiano stares mining operations in 2021

Galiano Gold (formerly Asanko Gold) announces its 2020 exploration program underway at the Asanko Gold Mine, located in Ghana, West Africa. The AGM is 50:50 joint ventures with Gold Fields Ltd, which is managed and operated by Galiano.

The previously announced 2020 exploration program at the AGM consisting of approximately 36,000m of Diamond (DD) and Reverse Circulation (RC) drilling, has been underway with four drill rigs and is now approximately 35% completed.  This release provides an update on the drilling and results for the Akwasiso open pit.

Core logging complete with 80% of samples submitted for analysis and 71% of samples received, “Our first set of drill results from our 2020 exploration program appear to prove up additional mineralization near our processing plant, which we believe will contribute towards our first objective of replacing depletion." said Greg McCunn, Chief Executive Officer. 

Cut 2 of the Akwasiso pit is currently being mined and is expected to provide approximately 40% of the ore feed for H2 2020.  The drilling program has delineated a third cut at the pit which we expect will allow us to continue mining operations well into 2021.”

The Akwasiso pit is located about 4km north-east of the processing plant along the Nkran shear corridor and was first mined in 2017.  In the first phase of mining, 1.6 Mt of ore grading 1.14 g/t of gold were mined and processed. 

The second phase of mining was initiated in April 2020 (Cut 2), which contains the estimated Indicated Mineral Resources1 of 2.8 million tonnes at 1.82 g/t gold (165,000 contained ounces of gold).  Mining of Cut 2 at Akwasiso is scheduled to take place over H2 2020 and early Q1 2021. 

The current drilling program (2,816 meters of RC drilling and 1,744 meters of DD over 24 holes) has delineated the third phase of mining (Cut 3) which sits outside the current Mineral Resource Estimate. Approximately 71% of the results returned so far.

Estimates of the contribution of this material to the Mineral Resources and Reserves at the AGM will become part of the end-of-year updated Resource Estimate expected to be dated December 31, 2020, and published in Q1 2021.

 

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