Galiano drills 4.56 g/t gold over 14 metres at Asanko, Ghana

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Galiano Gold Inc. [GAU-TSX, NYSE] provided initial positive drilling results testing the extension of mineralization at Nkran for underground mining potential at the Asanko gold mine (AGM), in which all eight drilled holes intercepted mineralization.

The program consisted of two widely spaced (160-metre) pilot holes yielding eight directional (daughter) diamond holes for a total of 5,488 metres. Drilling intersected high-grade mineralization including 14 metres of 4.56 g/t gold in hole NKDD22-090W1 and seven metres of 7.03 g/t gold in hole NKDD22-090W2 along a strike length of 160 metres at depths between 230 metres and 630 metres below the resource shell as described in the NI 43-101 technical report for the AGM filed on SEDAR. Mineralization remains open in all directions, including the zone above this mineralization and below the bottom extents of previous infill resource drilling. Several mineralized intercepts indicate grades and widths that may be amenable to underground mining, and additional drilling is currently being contemplated to follow up on these initial results.

“It is encouraging to have intercepted mineralization with these grades and at depths well below the existing mineral resource at Nkran,” said Matt Badylak, president and CEO. “These results are the beginning of our work to understand the underground mining potential below the known Cut 3 resource. The outcomes of this program not only are encouraging for Nkran but also may form an initial proof of concept for underground mining potential on the Asankrangwa gold belt.”

Nkran Deeps phase 1 highlights include Hole NKDD22-090W1 that returned 14 metres of 4.56 g/t gold from 518.6 metres, including four metres of 9.48 g/t gold from 528.8 metres, four metres of 4.77 g/t gold from 581 metres and two metres of 37.57 g/t gold from 625 metres.

Hole NKDD22-090W2 returned seven metres of 7.03 g/t gold from 379 metres, five metres of 4.18 g/t gold from 431 metres and six metres of 7.25 g/t gold from 480 metres. Hole NKDD22-090W3 returned six metres of 6.99 g/t gold from 474 metres.

Hole NKDD22-090W4 returned eight metres of 5.19 g/t gold from 298 metres. Hole NKDD22-077W1 returned 4.5 metres of 7.28 g/t gold from 376.3 metres. Hole NKDD22-077W2: six metres of 7.25 g/t gold from 480 metres.

The Nkran geological setting is typical of the Asankrangwa gold belt with a sedimentary sequence of interlayered shale, siltstone and sandstone. Two granitic bodies intrude along shear zones that control mineralization, which dips steeply to the northwest along with the sheared host stratigraphy.

Galiano operates and manages the Asanko gold mine, located in Ghana, West Africa, which is jointly owned as to Galiano Gold and Gold Fields Ltd. [GFI-NYSE, Jo’burg] each with a 45% interest. The Ghana government owns the remaining 10% interest.


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