Acquires ABG Mali From Barrick Subsidiary
Galiano Gold Inc.(TSX: GAU) has acquired 100% of ABG Mali Exploration SARL (ABG Mali) from a subsidiary of Barrick Gold for US$1.5 million.
The ABG Mali property covers over 167 sq. km and includes four exploration licenses.
The property is strategically located on the Senegal Mali Shear Zone (SMSZ), host to established gold deposits, including Loulo-Gounkoto and Fekola to the south and Sadiola and Yatela to the north.
CEO, Greg McCunn, said a review of historical work including previous drilling and six multi-km gold-in-soil trends is underway. A soil sampling campaign is planned for this year, together with UAV borne geophysical surveys planned for later in 2021, to assist in drill targeting scheduled for 2022.
“Acquiring the ABG Mali properties is a small but meaningful step for Galiano. We believe that the properties have a lot of promise including several attractive intercepts from previous drilling,” Mr McCunn said.
“Including Asumura, we now have two greenfield projects, both of which are located in prospective geological regions.”
The ABG Mali property is located in south-west Mali, near the Senegal border. The property is located at the top of greenstone belts where gold deposits commonly occur. There are widespread tarkwaian equivalent rocks on site as well as known gold occurrences and artisanal workings.
The ABG Mali concessions straddle the SMSZ, a major crustal scale terrane boundary that plays host to several established Gold deposits. Gold mineralisation along the structure is commonly associated with second and third order subsidiary shear zones, varying in strike from north-south, to northeast and northwest. Of note, many such structures can be seen transgressing the ABG Mali property.
Concessions located on the eastern side of the SMSZ are dominated by the Kofi Series, which consists of a sequence of clastic sedimentary rocks and peraluminous granite plutons, and most notably, by sericite-tourmaline altered sandstones, a common feature of the gold deposits along the SMSZ.
Concessions on the western side of the SMSZ are underlain by sedimentary rocks of the Diale-Dalema Supergroup, locally represented by a sequence of sandstone, conglomerate and chert, intruded by gabbroic and dacitic bodies.