Galiano Gold Inc has released an update of drilling results at Nkran following the completion of an infill drilling program at the Asanko Gold Mine.
The AGM is a 50:50 joint venture with Gold Fields Ltd with the joint venture managed and operated by Galiano.
According to a press statement from Galiano, effective February 28, 2022, Nkran has a Mineral Resource Estimate of 12.1 Mt at 2.09 g/t for 814 kozs indicated and 1.3 Mt at 2.23 g/t for 96 kozs inferred. The 2022 infill drilling program was designed to enhance confidence in the indicated Mineral Resource and explore for potential extensions of mineralization at Nkran.
Drilling has intercepted several high-grade intervals within and below the resource shell as described in National Instrument 43-101 Technical Report for the Asanko Gold Mine, Ashanti Region, Ghana, effective date February 28, 20221 and confirms continuity of mineralization within areas where higher levels of confidence were warranted. Results are currently being incorporated into an updated Mineral Resource Estimate which is expected to support an updated Mineral Reserve Estimate anticipated in Q1 2023.
The Nkran pit is located immediately adjacent to the 5.8 million tonne per annum processing plant, and has historically yielded the highest average mined grades on the Asankrangwa Belt and contributed significant cash flows to the AGM. During the mining of cut 2, Nkran produced 15.2M tonnes at 1.63 g/t and reported metallurgical recoveries of 94%.
The Company revealed that 24 diamond drill holes totalling 8,116m have been drilled at Nkran in 2022.
Matt Badylak, President and Chief Executive Officer stated that “We are encouraged by these results which demonstrate the continuity of high-grade mineralization below the previously mined portions of the Nkran deposit,”
“This deposit has historically yielded significant cash flows due to its proximity to the processing plant, elevated grade profile and favourable metallurgy. It is important to note that mineralization extends below the current resource shell and remains open at depth. Going forward, we anticipate Nkran to be a key deposit in our upcoming Life of Mine Plan and are excited to incorporate these latest drilling results into an updated Technical Report scheduled for release in Q1 2023” Mr. Badylak added.
About Galiano Gold Inc.
Galiano’s vision is to build a sustainable business capable of long-term value creation for its stakeholders through a combination of exploration, accretive M&A activities and the 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.
