Four Drill Rigs Now In Operation
Galiano Gold Inc.(TSX:GAU) (NYSE:GAU) announce an update from its 2020 exploration program underway at the Asanko Gold Mine (AGM) in Ghana, West Africa. AGM is a 50:50 joint venture (JV) with Gold Fields Ltd which is managed and operated by Galiano.
The 2020 exploration programme 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 40% completed.
- 28m @ 4.9 g/t gold(from 75m to 103m)
- 6m@ 24.3 g/t gold(from 70m to 76m)
- 3m @ 11.3 g/t gold(from 48m to 51m)
- 9m @ 3.6 g/t gold (from 106m to 115m)
- 16m @ 1.9 g/t gold(from 84m to 100m)
CEO, Greg McCunn, said mineralisation as Asanka has been extended at the north end of the main pit and in the north pit, remainsopen along strike with a follow-up drill programme planned this quarter
“Our second set of drill results from our 2020 exploration program were promising. They extend the known mineralization at Abore to the north and justify planned further drilling that will continue to test for mineralisation along strike,” Mr McCunn said.
“Abore plays an important role in our objective of replacing depletion in 2020 and 2021 and the recent drill results at Abore add to the drill results from the Akwasiso pit.
“We expect Abore and Akwasiso to be the main sources of ore supplementing our Esaase pit in H2 2020 and through 2021 and we believe that we have shown the potential for resource expansion at both pits with our drill programme.”
The Abore pit is located about 13km north of the processing plant, on the Esaase ore haul road and was mined by a previous operator in the early 2000’s. Mining operations are scheduled to resume at Abore in late 2021 and the purpose of the current drill programme was to upgrade Inferred Mineral Resources to Indicated Mineral Resources and test extensions of the orebody to the north.
Mineral Reserves and Resources at the Abore deposit as at December 31, 2019 were as follows:
- 4.7 Mt of Indicated Resources at 1.46 g/t gold (221 koz contained gold), and
- 0.9 Mt of Inferred Resources at 1.69 g/t gold (48 koz contained gold), including
- 2.8 Mt of Probable Reserves at 1.42 g/t gold (127 koz continued gold).
Mr McCunn said the current drilling programme (3,315m of RC drilling and 2,344m of DD over 32 holes) appears to have successfully provided infill drilling in the main pit area, targeting an upgrade to Inferred Mineral Resources and improved confidence in Indicated Mineral Resources.
In addition, hole 024 delineated an extension of the mineralization to the north end of the main pit with 6m at 24.3 g/t gold intercepted and hole 029 also defined an extension of the mineralization in the north pit with 28m at 4.9 g/t gold intercepted.
Estimates of the contribution of this material to the Mineral Resources and Reserves at the AGM, if any, will become part of the end-of-year updated Resource Estimate expected to be dated December 31, 2020 and published in Q1 2021.