VANCOUVER, BC, May 20, 2021 /PRNewswire/ - Galiano Gold Inc. ("Galiano" or the "Company") (TSX:GAU) (NYSE American: GAU) is pleased to announce a further 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 on the Datano Mining Lease, approximately 10 kilometres south of the Asanko Gold Mine's processing plant. Previous drill results were reported in news releases dated April 30, 2019, November 30, 2020, February 1, 2020, and February 25, 2021. To-date, over 17,300m of drilling have been completed in 59 holes over three phases of drilling from Q1 2019 to May 2021. Assays have been received for all drill holes that are expected to be included in the planned maiden Resource estimate for Miradani North, expected in Q3 2021, with highlights from the recent results shown in Table 1.
Table 1: Select intervals from drilling at Miradani North not previously released1
Hole ID From (m) To (m) Interval (m) Grade (g/t Au) Intercept (m @ g/t Au)
TTDD21-080 353 393 40 2.8 40m @ 2.8 g/t
TTDD21-077 261.9 282 20.1 4.8 20.1m @4.8 g/t
TTDD21-062 161 215 54 1.7 54m @ 1.7 g/t
TTDD21-076 295.6 318 22.4 3.4 22.4m @ 3.4g/t
TTDD21-060 142 178 36 1.6 36m @ 1.6 g/t
TTDD21-064 197 211 14 4.4 14m @4.1 g/t
TTDD21-064 115 148.9 33.6 1.6 33.9m @ 1.6 g/t
"The latest set of results from Miradani North continue to indicate that a mineralized system is present at depth," said Greg McCunn, Chief Executive Officer. "Our drilling results indicate that mineralization extends to 300m vertical depth and beyond, with a +100 gram-meter shoot plunging steeply to the northeast, remaining open at depth (see Figure 8 below). Mineral Resource drilling of the deposit has been completed, and we are on track to deliver a maiden resource estimate by Q3 2021. Step-out drilling along the +5-km greater Miradani trend is underway with one rig with a second rig expected to be deployed to accelerate this drilling program.”
About Miradani North - Geological Setting
The Miradani North target is situated along the Fromenda shear zone, a laterally extensive structure recognized from airborne VTEM and magnetic surveys and extensively mapped on the ground. The Fromenda shear zone forms part of the prominent northeast striking Asankrangwa gold belt which hosts all nine of AGM’s gold deposits. Numerous historical geochemical anomalies and artisanal workings are associated with this feature, making it an attractive exploration target.
Mineralization at Miradani North is spatially associated with several narrow, sub-vertical granite bodies that have preferentially intruded along a northeast trending corridor. Mineralization occurs in the granite and in the surrounding deformed sandstone, siltstone and phyllite rock package. Stratigraphy and structure are both steeply dipping to the northwest as they do for most of the Asankrangwa Belt gold deposits. Gold mineralization at Miradani North occurs in quartz veins and in association with silica flooding, pyrite, arsenopyrite, and traces of base metal sulfides, within a broader envelope of quartz-sericite-pyrite and carbonate alteration.
Qualified Person and QA/QC
Greg Collins, MAusIMM CP (Geo) and SEG Fellow, 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. Mr. Collins is responsible for all aspects of the work including the Data Verification and Quality Control/Quality Assurance programs and has verified the data disclosed. Mr. Collins 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.
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