VANCOUVER, BC, Feb. 1, 2021 /CNW/ - Galiano Gold Inc.
("Galiano" or the "Company") (TSX:GAU) (NYSE American: GAU) is
pleased to announce an update from the exploration program underway
at the Asanko Gold Mine ("AGM"), located in Ghana, West
Africa. The AGM is a 50:50 joint venture ("JV") with Gold
Fields Ltd (JSE, NYSE: GFI), with the JV managed and operated by
Galiano.
The Miradani North target is located approximately 10 kilometers
south of the Asanko Gold Mine's processing plant on the Datano
Mining Lease. A preliminary drilling campaign (Phase 1) was
conducted in April 2019 (see news
releases dated April 30, 2019) which
demonstrated encouraging widths of mineralization and grade in
multiple parallel zones. A follow-up drill program was
completed in Q4 2020 (Phase 2) expanding upon the previous results
(see news release dated November 30,
2020). A Phase 3 program to define mineralization at a
40m x 40m spacing has been underway for the past two
months with three drill rigs in operation.
Phase 3 Highlights
- Drilling 80% complete with 28 holes consisting of 7,896m total (1,233m reverse circulation and 6,663m of
diamond drill)
- Assays received for approximately 56% of the drilling to date
with the remainder expected in February
2021. Select intervals are shown in Table 1 and a full set
of intervals is shown in Table 2.
Table 1. Select intervals from drilling
at Miradani North not previously released1
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Grade
(g/t) gold
|
Intercept
(m @ g/t
gold)
|
TTDD20-032
|
342
|
358.7
|
16.7
|
6.3
|
16.7m @ 6.3
g/t
|
TTPC20-039
|
85
|
120
|
35
|
2.1
|
35m @ 2.1
g/t
|
TTPC20-041
|
71
|
107
|
36
|
1.9
|
36m @ 1.9
g/t
|
TTPC20-044
|
207
|
228.6
|
21.6
|
2.3
|
21.6m @ 2.3
g/t
|
TTPC20-034
|
175.1
|
191.4
|
16.3
|
3.0
|
16.3m @ 3.0
g/t
|
TTDD20-044
|
189.8
|
202.3
|
12.5
|
3.2
|
12.5m @ 3.2
g/t
|
"Miradani North continues to be our top exploration priority
coming into 2021," said Greg
McCunn, Chief Executive Officer.
"Current drilling has filled in and expanded earlier positive drill
results and completion of the Phase 3 program is expected to
provide us with sufficient data to carry out engineering studies
and an initial resource estimate to allow us to fully evaluate
Miradani North for development. When complete, we plan to
commence a campaign of step-out drilling to expand our knowledge of
the >5km long Miradani Trend that makes up the broader, Miradani
target."
About Miradani North - Geological Setting
Miradani North is located at the northeast end of an
approximately 5 km long zone of artisanal workings. It is
also the site of a shallow historic open pit operation and more
recent artisanal workings. The shallow pit is currently
flooded whichlimits drill access to the uppermost portions of the
mineralized body.
Mineralization at Miradani North appears to follow multiple
shear features within a shear zone which has been intruded by
several narrow, tabular granitic bodies. Mineralization
occurs in the granite and in surrounding sandstone, siltstone and
phyllite sedimentary rocks. Stratigraphy and structure are
both steeply dipping to the northwest as they do for most of the
Asankrangwa Belt and at other Asanko Gold Mine
operations.
Gold mineralization at Miradani North occurs in quartz veins and
in association with silica flooding, pyrite, arsenopyrite, and
traces of base metal sulfides along with broader
quartz-sericite-pyrite and carbonate alteration. As mentioned
above, mineralization occurs spatially within and adjacent to
granitic intrusions, with two apparently different types of
intrusive bodies present (Figures 1 to 8).
Mineralization appears to occur within a subvertical
mass. Completion of the Phase 3 program is designed to
further clarify the extent and shape of mineralization.
The initial drill plan was designed to test a postulated steeply
dipping tabular mineralized body as occurs at other Asanko
operations. Early in the course of the Phase 3 program, it
became apparent that the mineralized zone is a different shape than
the anticipated tabular structure. A large (>250m x 150m x
200m) mineralized zone associated
with the granitic intrusions appears to be associated with a gentle
flexure in the mineralized trend. Drill collar locations have
been amended to reflect the indicated configuration of
mineralization yet retain the 40 x 40m data goal for intersection of mineralized
material.
Qualified Person and QA/QC
Dr. Paul Klipfel, CPG, Senior
Vice President Exploration of Galiano Gold Inc., is a Qualified
Person as defined by Canadian NI 43-101 and has supervised the
preparation of the scientific and technical information that forms
the basis for this news release. Dr. Klipfel is responsible for all
aspects of the work including the Quality Control/Quality Assurance
programs and has verified the data disclosed. Dr. Klipfel is not
independent of Galiano Gold Inc.
Certified Reference Materials and Blanks are inserted by
Galiano Gold into the sample stream
at the rate of 1:14 samples. Field duplicates are collected
at the rate of 1:30 samples. All samples have been analysed
by Intertek Minerals Ltd. in Tarkwa, Ghana with standard preparation methods and
50g fire assay with atomic absorption finish. Intertek
Minerals Ltd. does their own introduction of QA/QC samples into the
sample stream and reports them to Galiano for double
checking. Higher grade samples are re-analysed from pulp or
reject material or both. Intertek is an international company
operating in 100 countries and is independent of Galiano. It
provides testing for a wide range of industries including the
mining, metals, and oil sectors.
Figure 1. Satellite photo map showing Miradani
North, three stages of drill holes, and select results.
Intersected granite is shown in pink and is surrounded by steeply
dipping, northeast striking, interlayered sandstone, siltstone, and
phyllite. Translucent blue outlines the model shell of
mineralization. This shell has been useful in planning drill
holes to intersect mineralization at 40m intervals. Salmon-colored callout boxes
= Phase 2 drilling and yellow callout boxes = Phase 3
drilling. Small white boxes label section numbers shown
below. Sections are at 40m
intervals looking NE and commencing from southwest to
northeast.
Figure 2. Section 691771 (see figure 1 for
location). Shows drill holes, mineralized intercepts, and
model shell of mineralization (blue). TT21-058 is a
planned hole. Yellow callout box = 2020 Phase 3.
Figure 3. Section 691800 (see figure 1 for
location). Shows drill holes, mineralized intercepts, and
model shell of mineralization (blue). Yellow callout boxes =
2020 Phase 3. Light green callout boxes show 2019
intercepts.
Figure 4. Section 691830 (see Figure 1 for
location). Shows drill holes, mineralized intercepts,
and model shell of mineralization (blue). Yellow callout
boxes = 2020 Phase 3. Light green callout boxes show 2019
intercepts.
Figure 5. Section 691860. (see Figure 1 for
location). Shows drill holes, mineralized intercepts,
and model shell of mineralization (blue). Yellow callout
boxes = 2020 Phase 3. Salmon callout boxes = 2020 Phase 2.
Light green callout boxes show 2019 intercepts. Hole
TTDD20_056 was terminated at 141 m
with difficulties and will be redrilled.
Figure 6. Section 691890. (see Figure 1
for location). Shows drill holes, mineralized
intercepts, and model shell of mineralization (blue). Yellow
callout boxes = 2020 Phase 3.
Figure 7. Section 691949. (see Figure 1 for
location). Shows drill holes, mineralized intercepts,
and model shell of mineralization (blue). Salmon callout
boxes = 2020 Phase 2. Light green callout boxes show 2019
intercepts. Planned hole TNT 109 lies within a flooded area
of the pit and cannot be drilled at this time.
Figure 8. Section 691979. (see Figure 1 for
location). Shows drill holes, mineralized intercepts,
and model shell of mineralization (blue). Yellow
callout boxes = 2020 Phase 3.
Table 2. Intercepts for Miradani North
drilling1,2
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Grade (g/t)
|
Intercept
|
Year
Drilled
|
TTPC19-001
|
87
|
89
|
2
|
3.2
|
2m @ 3.2
g/t
|
2019 Phase
1
|
TTPC19-001
|
128
|
141
|
13
|
2.6
|
13m @ 2.6
g/t
|
2019 Phase
1
|
TTPC19-001
|
152
|
154
|
2
|
1
|
2m @ 1.0
g/t
|
2019 Phase
1
|
TTPC19-001
|
162
|
172
|
10
|
1.1
|
10m @ 1.1
g/t
|
2019 Phase
1
|
TTPC19-001
|
197
|
206
|
9
|
0.7
|
9m @ 0.7
g/t
|
2019 Phase
1
|
TTPC19-002
|
68
|
85
|
17
|
1.1
|
17m @ 1.1
g/t
|
2019 Phase
1
|
TTPC19-002
|
91
|
107
|
16
|
1.7
|
16m @ 1.7
g/t
|
2019 Phase
1
|
TTPC19-002
|
114
|
116
|
2
|
1.8
|
2m @ 1.8
g/t
|
2019 Phase
1
|
TTPC19-002
|
120
|
122
|
2
|
1.2
|
2m @ 1.2
g/t
|
2019 Phase
1
|
TTPC19-002
|
149
|
152
|
3
|
25.5
|
3m @ 25.5
g/t
|
2019 Phase
1
|
TTPC19-002
|
156
|
178
|
22
|
1.2
|
22m @ 1.2
g/t
|
2019 Phase
1
|
TTPC19-002
|
189
|
228
|
39
|
1.8
|
39m @ 1.8
g/t
|
2019 Phase
1
|
TTPC19-004
|
32
|
38
|
6
|
0.6
|
6m @ 0.6
g/t
|
2019 Phase
1
|
TTPC19-004
|
84
|
88
|
4
|
1
|
4m @ 1.0
g/t
|
2019 Phase
1
|
TTPC19-004
|
105
|
107
|
2
|
1.9
|
2m @ 1.9
g/t
|
2019 Phase
1
|
TTPC19-004
|
150
|
152
|
2
|
1.1
|
2m @ 1.1
g/t
|
2019 Phase
1
|
TTPC19-004
|
160
|
174
|
14
|
0.8
|
14m @ 0.8
g/t
|
2019 Phase
1
|
TTPC19-004
|
182
|
189
|
7
|
1.5
|
7m @ 1.5
g/t
|
2019 Phase
1
|
TTPC19-004
|
199
|
211
|
12
|
1.4
|
12m @ 1.4
g/t
|
2019 Phase
1
|
TTPC19-005
|
229
|
231
|
2
|
1
|
2m @ 1.0
g/t
|
2019 Phase
1
|
TTPC19-005A
|
294
|
296.5
|
2.5
|
1
|
2.5m @ 1.0
g/t
|
2019 Phase
1
|
TTPC19-005A
|
307
|
309.3
|
2.3
|
0.8
|
2.3m @ 0.8
g/t
|
2019 Phase
1
|
TTPC19-005A
|
312.73
|
321
|
8.27
|
1.1
|
8.27m @ 1.1
g/t
|
2019 Phase
1
|
TTPC19-005A
|
342
|
353
|
11
|
1.2
|
11m @ 1.2
g/t
|
2019 Phase
1
|
TTPC19-005A
|
357
|
377.75
|
20.75
|
1.4
|
20.75m @ 1.4
g/t
|
2019 Phase
1
|
TTPC19-005A
|
389.5
|
399
|
9.5
|
0.7
|
9.5m @ 0.7
g/t
|
2019 Phase
1
|
TTPC19-005A
|
402.7
|
416.9
|
14.2
|
0.5
|
14.2m @ 0.5
g/t
|
2019 Phase
1
|
TTPC19-006A
|
17
|
19
|
2
|
0.6
|
2m @ 0.6
g/t
|
2019 Phase
1
|
TTPC19-006A
|
36
|
39
|
3
|
1.7
|
3m @ 1.7
g/t
|
2019 Phase
1
|
TTPC19-006A
|
182
|
193.8
|
11.8
|
1.7
|
11.8m @ 1.7
g/t
|
2019 Phase
1
|
TTPC19-006A
|
201
|
203
|
2
|
0.8
|
2m @ 0.8
g/t
|
2019 Phase
1
|
TTPC19-006A
|
242
|
264.9
|
22.9
|
1.5
|
22.9m @ 1.5
g/t
|
2019 Phase
1
|
TTPC19-006A
|
270.6
|
275
|
4.4
|
9.2
|
4.4m @ 9.2
g/t
|
2019 Phase
1
|
TTPC19-006A
|
280.6
|
297
|
16.4
|
2.4
|
16.4m @ 2.4
g/t
|
2019 Phase
1
|
TTPC19-006A
|
305.1
|
309.3
|
4.2
|
1.7
|
4.2m @ 1.7
g/t
|
2019 Phase
1
|
TTPC19-006A
|
315
|
319.1
|
4.1
|
2.2
|
4.1m @ 2.2
g/t
|
2019 Phase
1
|
TTPC19-008
|
90
|
94.8
|
4.8
|
1.4
|
4.8m @ 1.4
g/t
|
2019 Phase
1
|
TTPC19-008
|
98.17
|
108
|
9.83
|
2.3
|
9.83m @ 2.3
g/t
|
2019 Phase
1
|
TTPC19-008
|
113.55
|
122
|
8.45
|
1.8
|
8.45m @ 1.8
g/t
|
2019 Phase
1
|
TTPC19-008
|
187
|
198
|
11
|
2.1
|
11m @ 2.1
g/t
|
2019 Phase
1
|
TTPC19-008
|
202
|
244.6
|
42.6
|
2.2
|
42.6m @ 2.2
g/t
|
2019 Phase
1
|
TTPC19-008
|
248.7
|
259
|
10.3
|
2.2
|
10.3m @ 2.2
g/t
|
2019 Phase
1
|
TTPC19-008
|
270.9
|
273
|
2.1
|
1.3
|
2.1m @ 1.3
g/t
|
2019 Phase
1
|
TTPC19-009
|
80
|
84.3
|
4.3
|
2.3
|
4.3m @ 2.3
g/t
|
2019 Phase
1
|
TTPC19-009
|
99
|
155
|
56
|
3
|
56m @ 3.0
g/t
|
2019 Phase
1
|
TTPC19-009
|
166
|
173
|
7
|
0.8
|
7m @ 0.8
g/t
|
2019 Phase
1
|
TTPC19-009
|
192
|
200.53
|
8.53
|
1.2
|
8.53m @ 1.2
g/t
|
2019 Phase
1
|
TTPC19-009
|
204.46
|
223.2
|
18.74
|
1.1
|
18.74m @ 1.1
g/t
|
2019 Phase
1
|
TTPC19-009
|
234
|
239
|
5
|
0.4
|
5m @ 0.4
g/t
|
2019 Phase
1
|
TTPC19-010
|
145
|
151
|
6
|
1
|
6m @ 1.0
g/t
|
2019 Phase
1
|
TTPC19-010
|
175.5
|
181
|
5.5
|
0.8
|
5.5m @ 0.8
g/t
|
2019 Phase
1
|
TTPC19-010
|
192.4
|
229
|
36.6
|
2
|
36.6m @ 2.0
g/t
|
2019 Phase
1
|
TTPC19-010
|
244.8
|
251
|
6.2
|
0.8
|
6.2m @ 0.8
g/t
|
2019 Phase
1
|
TTPC19-010
|
257.7
|
264
|
6.3
|
0.5
|
6.3m @ 0.5
g/t
|
2019 Phase
1
|
TTPC19-010
|
268
|
270.3
|
2.3
|
0.8
|
2.3m @ 0.8
g/t
|
2019 Phase
1
|
TTPC19-010
|
288.8
|
295.2
|
6.4
|
1.4
|
6.4m @ 1.4
g/t
|
2019 Phase
1
|
TTDD20-019
|
263
|
265.75
|
2.75
|
0.3
|
2.75m @ 0.3
g/t
|
2020 Phase
2
|
TTDD20-019
|
301
|
303
|
2
|
1.5
|
2m @ 1.5
g/t
|
2020 Phase
2
|
TTPC20-022
|
288
|
290
|
2
|
2
|
2m @ 2.0
g/t
|
2020 Phase
2
|
TTPC20-022
|
301.3
|
304.5
|
3.2
|
1.7
|
3.2m @ 1.7
g/t
|
2020 Phase
2
|
TTPC20-022
|
382
|
389
|
7
|
1.5
|
7m @ 1.5
g/t
|
2020 Phase
2
|
TTPC20-026
|
19
|
28
|
9
|
2.5
|
9m @ 2.5
g/t
|
2020 Phase
2
|
TTDD20-027
|
0
|
2.3
|
2.3
|
|
2.3m @ 0.6
g/t
|
2020 Phase
2
|
TTDD20-027
|
5.5
|
11.4
|
5.9
|
|
5.9m @ 0.7
g/t
|
2020 Phase
2
|
TTDD20-027
|
177.37
|
181.75
|
4.38
|
|
4.38m @ 0.6
g/t
|
2020 Phase
2
|
TTDD20-027
|
302.1
|
305
|
2.9
|
|
2.9m @ 5.0
g/t
|
2020 Phase
2
|
TTDD20-029
|
183
|
192
|
9
|
1.6
|
9m @ 1.6
g/t
|
2020 Phase
2
|
TTDD20-029
|
241
|
250
|
9
|
0.5
|
9m @ 0.5
g/t
|
2020 Phase
2
|
TTDD20-029
|
257.67
|
261.89
|
4.22
|
0.5
|
4.22m @ 0.5
g/t
|
2020 Phase
2
|
TTDD20-029
|
272
|
285
|
13
|
1.6
|
13m @ 1.6
g/t
|
2020 Phase
2
|
TTDD20-032
|
0
|
8.1
|
8.1
|
0.6
|
8.1m @ 0.6
g/t
|
2020 Phase
2
|
TTDD20-032
|
188.16
|
201.4
|
13.24
|
1.7
|
13.24m @ 1.7
g/t
|
2020 Phase
2
|
TTDD20-032
|
232.85
|
240.14
|
7.29
|
4.5
|
7.29m @ 4.5
g/t
|
2020 Phase
2
|
TTDD20-032
|
244
|
253
|
9
|
0.8
|
9m @ 0.8
g/t
|
2020 Phase
2
|
TTDD20-032
|
266
|
272
|
6
|
2.3
|
6m @ 2.3
g/t
|
2020 Phase
2
|
TTDD20-032
|
301.09
|
309
|
7.91
|
1.6
|
7.91m @ 1.6
g/t
|
2020 Phase
2
|
TTDD20-032
|
325
|
337
|
12
|
0.6
|
12m @ 0.6
g/t
|
2020 Phase
2
|
TTDD20-032
|
342
|
358.7
|
16.7
|
6.3
|
16.7m @ 6.3
g/t
|
2020 Phase
2
|
TTPC20-024
|
86
|
126
|
40
|
2.1
|
40m @ 2.1
g/t
|
2020 Phase
3
|
TTPC20-024
|
134
|
146.6
|
12.6
|
2.4
|
12.6m @ 2.4
g/t
|
2020 Phase
3
|
TTPC20-024
|
153.2
|
155.44
|
2.24
|
0.6
|
2.24m @ 0.6
g/t
|
2020 Phase
3
|
TTPC20-024
|
167
|
176
|
9
|
1.8
|
9m @ 1.8
g/t
|
2020 Phase
3
|
TTPC20-024
|
181
|
189.09
|
8.09
|
0.9
|
8.09m @ 0.9
g/t
|
2020 Phase
3
|
TTPC20-024
|
193
|
195
|
2
|
5.1
|
2m @ 5.1
g/t
|
2020 Phase
3
|
TTPC20-024
|
210.5
|
227
|
16.5
|
1.1
|
16.5m @ 1.1
g/t
|
2020 Phase
3
|
TTDD20-025
|
165
|
172.16
|
7.16
|
0.8
|
7.16m @ 0.8
g/t
|
2020 Phase
3
|
TTPC20-028
|
232
|
241
|
9
|
0.6
|
9m @ 0.6
g/t
|
2020 Phase
3
|
TTPC20-028
|
287
|
306
|
19
|
2.2
|
19m @ 2.2
g/t
|
2020 Phase
3
|
TTDD20-030
|
238.67
|
241.8
|
3.13
|
3.7
|
3.13m @ 3.7
g/t
|
2020 Phase
3
|
TTPC20-033
|
56
|
60
|
4
|
1.1
|
4m @ 1.1
g/t
|
2020 Phase
3
|
TTPC20-033
|
66
|
84
|
18
|
1
|
18m @ 1.0
g/t
|
2020 Phase
3
|
TTPC20-033
|
249.46
|
252.15
|
2.69
|
2.4
|
2.69m @ 2.4
g/t
|
2020 Phase
3
|
TTPC20-033
|
268.8
|
286.1
|
17.3
|
1.2
|
17.3m @ 1.2
g/t
|
2020 Phase
3
|
TTPC20-033
|
298.35
|
300.61
|
2.26
|
1.3
|
2.26m @ 1.3
g/t
|
2020 Phase
3
|
TTPC20-033
|
334.44
|
347
|
12.56
|
0.7
|
12.56m @ 0.7
g/t
|
2020 Phase
3
|
TTPC20-033
|
362.9
|
365.5
|
2.6
|
2.5
|
2.6m @ 2.5
g/t
|
2020 Phase
3
|
TTPC20-034
|
104
|
112
|
8
|
2.5
|
8m @ 2.5
g/t
|
2020 Phase
3
|
TTPC20-034
|
148
|
154
|
6
|
1
|
6m @ 1.0
g/t
|
2020 Phase
3
|
TTPC20-034
|
175.1
|
191.4
|
16.3
|
3
|
16.3m @ 3.0
g/t
|
2020 Phase
3
|
TTPC20-034
|
200.2
|
202.7
|
2.5
|
0.6
|
2.5m @ 0.6
g/t
|
2020 Phase
3
|
TTPC20-035
|
73
|
76
|
3
|
3.9
|
3m @ 3.9
g/t
|
2020 Phase
3
|
TTPC20-035
|
90
|
97
|
7
|
0.6
|
7m @ 0.6
g/t
|
2020 Phase
3
|
TTPC20-035
|
106
|
119
|
13
|
1.4
|
13m @ 1.4
g/t
|
2020 Phase
3
|
TTPC20-035
|
125
|
134
|
9
|
1.1
|
9m @ 1.1
g/t
|
2020 Phase
3
|
TTPC20-035
|
142.68
|
147.11
|
4.43
|
0.8
|
4.43m @ 0.8
g/t
|
2020 Phase
3
|
TTPC20-035
|
150.27
|
158.48
|
8.21
|
0.7
|
8.21m @ 0.7
g/t
|
2020 Phase
3
|
TTPC20-035
|
165
|
173.94
|
8.94
|
2.7
|
8.94m @ 2.7
g/t
|
2020 Phase
3
|
TTDD20-036
|
215
|
217.4
|
2.4
|
0.8
|
2.4m @ 0.8
g/t
|
2020 Phase
3
|
TTDD20-036
|
242.2
|
267
|
24.8
|
1.5
|
24.8m @ 1.5
g/t
|
2020 Phase
3
|
TTPC20-039
|
41
|
50
|
9
|
0.6
|
9m @ 0.6
g/t
|
2020 Phase
3
|
TTPC20-039
|
70
|
75
|
5
|
0.7
|
5m @ 0.7
g/t
|
2020 Phase
3
|
TTPC20-039
|
85
|
120
|
35
|
2.1
|
35m @ 2.1
g/t
|
2020 Phase
3
|
TTPC20-039
|
129.4
|
140
|
10.6
|
3.3
|
10.6m @ 3.3
g/t
|
2020 Phase
3
|
TTPC20-039
|
146.86
|
150.5
|
3.64
|
1.3
|
3.64m @ 1.3
g/t
|
2020 Phase
3
|
TTPC20-039
|
155
|
161.32
|
6.32
|
0.5
|
6.32m @ 0.5
g/t
|
2020 Phase
3
|
TTPC20-039
|
169.18
|
173.25
|
4.07
|
2.9
|
4.07m @ 2.9
g/t
|
2020 Phase
3
|
TTDD20-040
|
0
|
4
|
4
|
1.1
|
4m @ 1.1
g/t
|
2020 Phase
3
|
TTDD20-040
|
130.2
|
132.8
|
2.6
|
1.1
|
2.6m @ 1.1
g/t
|
2020 Phase
3
|
TTDD20-040
|
142.7
|
153.3
|
10.6
|
1.6
|
10.6m @ 1.6
g/t
|
2020 Phase
3
|
TTDD20-040
|
156.6
|
159.7
|
3.1
|
0.4
|
3.1m @ 0.4
g/t
|
2020 Phase
3
|
TTDD20-040
|
170.8
|
188
|
17.2
|
1.3
|
17.2m @ 1.3
g/t
|
2020 Phase
3
|
TTPC20-041
|
71
|
107
|
36
|
1.9
|
36m @ 1.9
g/t
|
2020 Phase
3
|
TTPC20-041
|
113
|
115
|
2
|
10.7
|
2m @ 10.7
g/t
|
2020 Phase
3
|
TTDD20-044
|
181
|
186.7
|
5.7
|
1.6
|
5.7m @ 1.6
g/t
|
2020 Phase
3
|
TTDD20-044
|
189.8
|
202.3
|
12.5
|
3.2
|
12.5m @ 3.2
g/t
|
2020 Phase
3
|
TTDD20-044
|
207
|
228.6
|
21.6
|
2.3
|
21.6m @ 2.3
g/t
|
2020 Phase
3
|
TTPC20-047
|
30
|
34
|
4
|
0.6
|
4m @ 0.6
g/t
|
2020 Phase
3
|
TTRC20-051
|
0
|
2
|
2
|
8.4
|
2m @ 8.4
g/t
|
2020 Phase
3
|
TTRC20-051
|
58
|
62
|
4
|
0.5
|
4m @ 0.5
g/t
|
2020 Phase
3
|
TTRC20-051
|
69
|
74
|
5
|
0.7
|
5m @ 0.7
g/t
|
2020 Phase
3
|
Notes:
|
1.
|
Intervals indicated
are not true widths as there is insufficient information to
calculate true widths. However, drill holes have been drilled
to cross interpreted mineralized zones as close to perpendicular as
possible.
|
2.
|
Intervals shaded gray
were reported previously. See November 30, 2020 press
release.
|
About Galiano Gold Inc.
Galiano is focused on creating a sustainable
business capable of long-term value creation for its
stakeholders through exploration and 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.
The Company is strongly committed to the highest standards for
environmental management, social responsibility, and health and
safety for its employees and neighbouring communities. For more
information, please visit www.galianogold.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements and information contained in this news
release constitute "forward-looking statements" within the meaning
of applicable U.S. securities laws and "forward-looking
information" within the meaning of applicable Canadian securities
laws, which we refer to collectively as "forward-looking
statements". Forward-looking statements are statements and
information regarding possible events, conditions or results of
operations that are based upon assumptions about future conditions
and courses of action. All statements and information other than
statements of historical fact may be forward looking statements. In
some cases, forward-looking statements can be identified by the use
of words such as "seek", "expect", "anticipate", "budget", "plan",
"estimate", "continue", "forecast", "intend", "believe", "predict",
"potential", "target", "may", "could", "would", "might", "will" and
similar words or phrases (including negative variations) suggesting
future outcomes or statements regarding an outlook.
Forward-looking statements in this news release include, but
are not limited to: statements regarding future mining at
Miradani North, including with respect to the nature and extent of
possible pit designs and the commencement of further mining along
the Miradani trend; the undertaking of a resource estimate
with respect to the Company's exploration program,
including the timing and results thereof; the expected results of
the exploration program (including its ability to provide the
confidence for undertaking a resource estimate and further
engineering studies) and the nature and timing of future
exploration programs; and information regarding planned future
exploration, drilling and mining. Such forward-looking
statements are based on a number of material factors and
assumptions, including, but not limited to: the exploration program
proceeding as anticipated; the exploration program achieving the
targets and milestones included therein in the manner and on the
timelines anticipated therein; the nature of drilling and
exploration targets conforming to current expectations; mining
proceeding as currently anticipated; the Company proceeding with
further exploration programs as currently anticipated; that the
Joint Venture approves the Company's increase to the exploration
budget; the ability of the AGM to continue to operate during the
COVID-19 pandemic; that gold production and other activities will
not be curtailed as a result of the COVID-19 pandemic; that the AGM
will be able to continue to ship doré from the AGM site to
be refined; that the doré produced by the AGM will
continue to be able to be refined at similar rates and costs to the
AGM, or at all; that the other current or potential future effects
of the COVID-19 pandemic on the Company's business, operations and
financial position, including restrictions on the movement of
persons (and in particular, the AGM's workforce), restrictions on
business activities, including access to the AGM, restrictions on
the transport of goods, trade restrictions, increases in the cost
of necessary inputs, reductions in the availability of necessary
inputs and productivity and operational constraints, will not
impact its 2020 production and cost guidance; that the Company's
and the AGM's responses to the COVID-19 pandemic will be effective
in continuing its operations in the ordinary
course; the accuracy of the estimates and assumptions
underlying Mineral Resource and Mineral Reserve estimates and prior
exploration results, including future gold prices, cut-off grades
and production and processing estimates; the successful
completion of development and exploration projects, planned
expansions or other projects within the timelines anticipated and
at anticipated production levels; that mineral resources can be
developed as planned; that the Company's relationship with joint
venture partners will continue to be positive and beneficial to the
Company; interest and exchange rates; that required financing and
permits will be obtained; general economic conditions; that labour
disputes or disruptions, flooding, ground instability, geotechnical
failure, fire, failure of plant, equipment or processes to operate
are as anticipated and other risks of the mining industry will not
be encountered; that contracted parties provide goods or services
in a timely manner; that there is no material adverse change in the
price of gold or other metals; competitive conditions in the mining
industry; title to mineral properties; costs; taxes; the retention
of the Company's key personnel; and changes in laws, rules and
regulations applicable to Galiano.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements to differ materially from those
anticipated in such forward-looking statements. The Company
believes the expectations reflected in such forward-looking
statements are reasonable, but no assurance can be given that these
expectations will prove to be correct and you are cautioned not to
place undue reliance on forward-looking statements contained
herein. Some of the risks and other factors which could cause
actual results to differ materially from those expressed in the
forward-looking statements contained in this news release, include,
but are not limited to: the Company's exploration program may not
proceed as planned, or at all, and may fail to achieve the targets
and milestones planned for the exploration program; that drilling
conditions and exploration targets may not conform to the Company's
expectations; that the Company may not undertake planned future
mining or exploration; the Company's and/or the AGM's operations
may be curtailed or halted entirely as a result of the COVID-19
pandemic, whether as a result of governmental or regulatory law or
pronouncement, or otherwise; that the
doré produced at the AGM may not be able to be
refined at expected levels, on expected terms or at all; that the
Company and/or the AGM will experience increased operating costs as
a result of the COVID-19 pandemic; that the AGM may not be able to
source necessary inputs on commercially reasonable terms, or at
all; the Company's and the AGM's responses to the COVID-19 pandemic
may not be successful in continuing its operations in the ordinary
course; mineral reserve and resource estimates may change and may
prove to be inaccurate; life of mine estimates are based on a
number of factors and assumptions and may prove to be incorrect;
AGM has a limited operating history and is subject to risks
associated with establishing new mining operations; sustained
increases in costs, or decreases in the availability, of
commodities consumed or otherwise used by the Company may adversely
affect the Company; actual production, costs, returns and other
economic and financial performance may vary from the Company's
estimates in response to a variety of factors, many of which are
not within the Company's control; adverse geotechnical and
geological conditions (including geotechnical failures) may result
in operating delays and lower throughput or recovery, closures or
damage to mine infrastructure; the ability of the Company to treat
the number of tonnes planned, recover valuable materials, remove
deleterious materials and process ore, concentrate and tailings as
planned is dependent on a number of factors and assumptions which
may not be present or occur as expected; the Company's operations
may encounter delays in or losses of production due to equipment
delays or the availability of equipment; the Company's operations
are subject to continuously evolving legislation, compliance with
which may be difficult, uneconomic or require significant
expenditures; the Company may be unsuccessful in attracting and
retaining key personnel; labour disruptions could adversely affect
the Company's operations; the Company's business is subject to
risks associated with operating in a foreign country; risks related
to the Company's use of contractors; the hazards and risks normally
encountered in the exploration, development and production of gold;
the Company's operations are subject to environmental hazards and
compliance with applicable environmental laws and regulations; the
Company's operations and workforce are exposed to health and safety
risks; unexpected costs and delays related to, or the failure of
the Company to obtain, necessary permits could impede the Company's
operations; the Company's title to exploration, development and
mining interests can be uncertain and may be contested; the
Company's properties may be subject to claims by various community
stakeholders; risks related to limited access to infrastructure and
water; the Company's exploration programs may not successfully
expand its current mineral reserves or replace them with new
reserves; the Company's common shares may experience price and
trading volume volatility; the Company's revenues are dependent on
the market prices for gold, which have experienced significant
recent fluctuations; the Company may not be able to secure
additional financing when needed or on acceptable terms; Company
shareholders may be subject to future dilution; risks related to
changes in interest rates and foreign currency exchange rates;
changes to taxation laws applicable to the Company may affect the
Company's profitability and ability to repatriate funds; the
Company's primary asset is held through a joint venture, which
exposes the Company to risks inherent to joint ventures, including
disagreements with joint venture partners and similar risks; risks
related to the Company's internal controls over financial reporting
and compliance with applicable accounting regulations and
securities laws; the carrying value of the Company's assets may
change and these assets may be subject to impairment charges; the
Company may be liable for uninsured or partially insured losses;
the Company may be subject to litigation; the Company may be
unsuccessful in identifying targets for acquisition or completing
suitable corporate transactions, and any such transactions may not
be beneficial to the Company or its shareholders; the Company must
compete with other mining companies and individuals for mining
interests; and risks related to information systems security
threats.
Although the Company has attempted to identify important
factors that could cause actual results or events to differ
materially from those described in the forward-looking statements,
you are cautioned that this list is not exhaustive and there may be
other factors that the Company has not identified. Furthermore, the
Company undertakes no obligation to update or revise any
forward-looking statements included in, or incorporated by
reference in, this news release if these beliefs, estimates and
opinions or other circumstances should change, except as otherwise
required by applicable law.
Cautionary Note to US Investors Regarding Mineral Reporting
Standards:
As a British Columbia
corporation and a "reporting issuer" under Canadian securities
laws, the Company is required to provide disclosure regarding its
mineral properties, including the AGM, in accordance with Canadian
National Instrument 43-101 Standards of Disclosure for Mineral
Projects ("NI 43-101"). NI 43-101 is a rule developed by the
Canadian Securities Administrators that establishes standards for
all public disclosure an issuer makes of scientific and technical
information concerning mineral projects. In accordance with
NI 43-101, the Company uses the terms mineral reserves and
resources as they are defined in accordance with the CIM Definition
Standards on mineral reserves and resources (the "CIM Definition
Standards") adopted by the Canadian Institute of Mining, Metallurgy
and Petroleum. In particular, the terms "mineral reserve",
"proven mineral reserve", "probable mineral reserve", "mineral
resource", "measured mineral resource", "indicated mineral
resource" and "inferred mineral resource" used in this press
release are Canadian mining terms defined in accordance with CIM
Definition Standards. These definitions differ from the definitions
in the disclosure requirements promulgated by the SEC. Accordingly,
information contained in this press release may not be comparable
to similar information made public by U.S. companies reporting
pursuant to SEC disclosure requirements.
United States investors are
also cautioned that while the SEC will now recognize "measured
mineral resources", "indicated mineral resources" and "inferred
mineral resources", investors should not assume that any part or
all of the mineralization in these categories will ever be
converted into a higher category of mineral resources or into
mineral reserves. Mineralization described using these terms has a
greater amount of uncertainty as to their existence and feasibility
than mineralization that has been characterized as reserves.
Accordingly, investors are cautioned not to assume that any
"measured mineral resources", "indicated mineral resources", or
"inferred mineral resources" that the Company reports are or will
be economically or legally mineable.
Further, "inferred resources" have a greater amount of
uncertainty as to their existence and as to whether they can be
mined legally or economically. Therefore, United States investors are also cautioned not
to assume that all or any part of the inferred resources
exist. In accordance with Canadian rules, estimates of
"inferred mineral resources" cannot form the basis of feasibility
or other economic studies, except in limited circumstances where
permitted under NI 43-101.
Neither Toronto Stock Exchange nor the Investment Industry
Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this
release.
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SOURCE Galiano Gold Inc.