VANCOUVER, BC, Aug. 25,
2022 /PRNewswire/ - Galiano Gold Inc.
("Galiano" or the "Company") (TSX: GAU) (NYSE American:
GAU) is pleased to provide an update of drilling results at Nkran
following the completion of an infill drilling program at the
Asanko Gold Mine ("AGM"), located in Ghana. The AGM is a 50:50 joint venture ("JV")
with Gold Fields Ltd (JSE, NYSE: GFI), with the JV managed and
operated by 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.
Nkran Infill Drilling Highlights
24 diamond drill holes totalling 8,116m have been drilled at Nkran in 2022.
Highlighted intercepts include:
- Hole NKDD22-100: 16 meters @ 47.3 g/t
gold from 13.6m and 41 meters @ 3.0 g/t
gold from 135.4m
- Hole NKDD22-099: 11 meters @ 27.6 g/t
gold from 259m
- Hole NKDD22-083: 49 meters @ 3.4 g/t gold from
261.7m and 58.50 meters @ 3.5 g/t
gold from 336m
- Hole NKDD22-086: 16 meters @ 5.4 g/t gold from
191m
- Hole NKDD22-080: 45 meters @ 2.3 g/t gold from
107m
- Hole NKDD22-105: 8 meters @ 10.4 g/t gold from
109m
- Hole NKDD22-106: 59 meters @ 2.7 g/t gold from
330m
Nkran Overview (See Table 1 for full drilling
results)
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%.
"We are encouraged by these results which demonstrate the
continuity of high-grade mineralization below the previously mined
portions of the Nkran deposit," said Matt
Badylak President and Chief Executive Officer. "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."
Nkran Geology and Cross Sections
The Nkran geological setting is typical of the Asankrangwa 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.
Table 1. Intercepts for 2022 Nkran infill drilling
2,3,4
Hole
ID
|
From
(m)
|
To
(m)
|
Width
(m)
|
Grade
(g/t Au)
|
Intercept
Description
|
NKDD22-077
|
927.9
|
936.15
|
8.25
|
1.2
|
8.25m @ 1.2
g/t
|
NKDD22-077
|
945
|
960
|
15
|
1.7
|
15.00m @ 1.7
g/t
|
NKDD22-077
|
965
|
973.2
|
8.2
|
2
|
8.20m @ 2.0
g/t
|
NKDD22-077
|
977
|
981
|
4
|
0.8
|
4.00m @ 0.8
g/t
|
NKDD22-077
|
1004
|
1014
|
10
|
1.5
|
10.00m @ 1.5
g/t
|
NKDD22-078
|
1
|
3
|
2
|
1.1
|
2.00m @ 1.1
g/t
|
NKDD22-078
|
17
|
27
|
10
|
5.7
|
10.00m @ 5.7
g/t
|
NKDD22-078
|
31
|
35
|
4
|
2.3
|
4.00m @ 2.3
g/t
|
NKDD22-078
|
52
|
54
|
2
|
0.6
|
2.00m @ 0.6
g/t
|
NKDD22-078
|
66
|
86
|
20
|
1.5
|
20.00m @ 1.5
g/t
|
NKDD22-078
|
91
|
112
|
21
|
2
|
21.00m @ 2.0
g/t
|
NKDD22-078
|
116
|
137
|
21
|
1.8
|
21.00m @ 1.8
g/t
|
NKDD22-078
|
142
|
151
|
9
|
2.6
|
9.00m @ 2.6
g/t
|
NKDD22-078
|
159
|
171
|
12
|
1.7
|
12.00m @ 1.7
g/t
|
NKDD22-079
|
15
|
19
|
4
|
1.2
|
4.00m @ 1.2
g/t
|
NKDD22-079
|
46.8
|
57
|
10.2
|
2
|
10.20m @ 2.0
g/t
|
NKDD22-079
|
91.6
|
96
|
4.4
|
5.2
|
4.40m @ 5.2
g/t
|
NKDD22-079
|
100
|
120.7
|
20.7
|
1.5
|
20.70m @ 1.5
g/t
|
NKDD22-079
|
145.4
|
176
|
30.6
|
2.5
|
30.60m @ 2.5
g/t
|
NKDD22-080
|
73
|
75
|
2
|
0.6
|
2.00m @ 0.6
g/t
|
NKDD22-080
|
90.72
|
98.75
|
8.03
|
0.8
|
8.03m @ 0.8
g/t
|
NKDD22-080
|
107
|
152.3
|
45.3
|
2.3
|
45.30m @ 2.3
g/t
|
NKDD22-080
|
157.15
|
161
|
3.85
|
1.6
|
3.85m @ 1.6
g/t
|
NKDD22-080
|
165.2
|
176
|
10.8
|
4
|
10.80m @ 4.0
g/t
|
NKDD22-080
|
219
|
222.6
|
3.6
|
0.4
|
3.60m @ 0.4
g/t
|
NKDD22-081
|
29.7
|
75
|
45.3
|
1.5
|
45.30m @ 1.5
g/t
|
NKDD22-081
|
91
|
94
|
3
|
0.9
|
3.00m @ 0.9
g/t
|
NKDD22-081
|
161
|
172
|
11
|
1.8
|
11.00m @ 1.8
g/t
|
NKDD22-081
|
204
|
207
|
3
|
3.3
|
3.00m @ 3.3
g/t
|
NKDD22-081
|
215.3
|
217.8
|
2.5
|
4.3
|
2.50m @ 4.3
g/t
|
NKDD22-083
|
55.9
|
66.3
|
10.4
|
1.1
|
10.40m @ 1.1
g/t
|
NKDD22-083
|
73
|
88
|
15
|
1.4
|
15.00m @ 1.4
g/t
|
NKDD22-083
|
102
|
106
|
4
|
0.9
|
4.00m @ 0.9
g/t
|
NKDD22-083
|
114
|
124
|
10
|
0.6
|
10.00m @ 0.6
g/t
|
NKDD22-083
|
129
|
131
|
2
|
0.8
|
2.00m @ 0.8
g/t
|
NKDD22-083
|
157
|
162
|
5
|
0.5
|
5.00m @ 0.5
g/t
|
NKDD22-083
|
207.6
|
213
|
5.4
|
4.6
|
5.40m @ 4.6
g/t
|
NKDD22-083
|
221
|
224
|
3
|
3
|
3.00m @ 3.0
g/t
|
NKDD22-083
|
230
|
238
|
8
|
1.6
|
8.00m @ 1.6
g/t
|
NKDD22-083
|
242
|
256
|
14
|
1.7
|
14.00m @ 1.7
g/t
|
NKDD22-083
|
261.7
|
310.6
|
48.9
|
3.4
|
48.90m @ 3.4
g/t
|
NKDD22-083
|
315
|
330
|
15
|
1.4
|
15.00m @ 1.4
g/t
|
NKDD22-083
|
336
|
394.5
|
58.5
|
3.5
|
58.50m @ 3.5
g/t
|
NKDD22-083
|
400
|
402
|
2
|
0.7
|
2.00m @ 0.7
g/t
|
NKDD22-083
|
408.1
|
411.6
|
3.5
|
0.5
|
3.50m @ 0.5
g/t
|
NKDD22-083
|
415
|
428.4
|
13.4
|
0.8
|
13.40m @ 0.8
g/t
|
NKDD22-083
|
442.4
|
453
|
10.6
|
0.9
|
10.60m @ 0.9
g/t
|
NKDD22-084
|
71.36
|
75.25
|
3.89
|
3.8
|
3.89m @ 3.8
g/t
|
NKDD22-084
|
86
|
93
|
7
|
2.3
|
7.00m @ 2.3
g/t
|
NKDD22-084
|
101.18
|
107.65
|
6.47
|
1.8
|
6.47m @ 1.8
g/t
|
NKDD22-084
|
115.7
|
120
|
4.3
|
2.4
|
4.30m @ 2.4
g/t
|
NKDD22-084
|
124
|
128.45
|
4.45
|
1.2
|
4.45m @ 1.2
g/t
|
NKDD22-084
|
170
|
175
|
5
|
1.4
|
5.00m @ 1.4
g/t
|
NKDD22-084
|
183
|
188
|
5
|
1.4
|
5.00m @ 1.4
g/t
|
NKDD22-084
|
201.91
|
206
|
4.09
|
2.7
|
4.09m @ 2.7
g/t
|
NKDD22-084
|
211.77
|
224
|
12.23
|
3.9
|
12.23m @ 3.9
g/t
|
NKDD22-086
|
55.65
|
62
|
6.35
|
1.2
|
6.35m @ 1.2
g/t
|
NKDD22-086
|
66.5
|
81.2
|
14.7
|
0.8
|
14.70m @ 0.8
g/t
|
NKDD22-086
|
87
|
97.5
|
10.5
|
1.3
|
10.50m @ 1.3
g/t
|
NKDD22-086
|
102
|
106
|
4
|
3.7
|
4.00m @ 3.7
g/t
|
NKDD22-086
|
112
|
121
|
9
|
2.4
|
9.00m @ 2.4
g/t
|
NKDD22-086
|
124.68
|
136.86
|
12.18
|
3.3
|
12.18m @ 3.3
g/t
|
NKDD22-086
|
145.3
|
149
|
3.7
|
1.6
|
3.70m @ 1.6
g/t
|
NKDD22-086
|
154
|
159
|
5
|
1.9
|
5.00m @ 1.9
g/t
|
NKDD22-086
|
168
|
170
|
2
|
1
|
2.00m @ 1.0
g/t
|
NKDD22-086
|
181
|
186
|
5
|
4.4
|
5.00m @ 4.4
g/t
|
NKDD22-086
|
191
|
207
|
16
|
5.4
|
16.00m @ 5.4
g/t
|
NKDD22-088
|
166
|
170
|
4
|
0.6
|
4.00m @ 0.6
g/t
|
NKDD22-088
|
184
|
191
|
7
|
0.7
|
7.00m @ 0.7
g/t
|
NKDD22-088
|
203.9
|
218.57
|
14.67
|
1.1
|
14.67m @ 1.1
g/t
|
NKDD22-088
|
258
|
268.86
|
10.86
|
0.7
|
10.86m @ 0.7
g/t
|
NKDD22-089
|
44
|
57.2
|
13.2
|
1.2
|
13.20m @ 1.2
g/t
|
NKDD22-089
|
63
|
65
|
2
|
6.5
|
2.00m @ 6.5
g/t
|
NKDD22-089
|
72.82
|
77
|
4.18
|
0.8
|
4.18m @ 0.8
g/t
|
NKDD22-089
|
98
|
103
|
5
|
1.1
|
5.00m @ 1.1
g/t
|
NKDD22-089
|
107
|
111
|
4
|
3.2
|
4.00m @ 3.2
g/t
|
NKDD22-089
|
164
|
170
|
6
|
1.2
|
6.00m @ 1.2
g/t
|
NKDD22-089
|
180
|
183
|
3
|
2.6
|
3.00m @ 2.6
g/t
|
NKDD22-089
|
197
|
205.2
|
8.2
|
1
|
8.20m @ 1.0
g/t
|
NKDD22-089
|
214
|
219
|
5
|
1
|
5.00m @ 1.0
g/t
|
NKDD22-089
|
229.4
|
234
|
4.6
|
0.6
|
4.60m @ 0.6
g/t
|
NKDD22-089
|
241.2
|
257
|
15.8
|
2.6
|
15.80m @ 2.6
g/t
|
NKDD22-089
|
289
|
303.2
|
14.2
|
1.7
|
14.20m @ 1.7
g/t
|
NKDD22-089
|
327
|
336.15
|
9.15
|
1.2
|
9.15m @ 1.2
g/t
|
NKDD22-091
|
124
|
142
|
18
|
2.7
|
18.00m @ 2.7
g/t
|
NKDD22-091
|
166
|
173
|
7
|
0.7
|
7.00m @ 0.7
g/t
|
NKDD22-091
|
180
|
183
|
3
|
3.6
|
3.00m @ 3.6
g/t
|
NKDD22-091
|
202
|
204
|
2
|
1.4
|
2.00m @ 1.4
g/t
|
NKDD22-091
|
208
|
237.5
|
29.5
|
1
|
29.50m @ 1.0
g/t
|
NKDD22-091
|
242.5
|
263.3
|
20.8
|
1.1
|
20.80m @ 1.1
g/t
|
NKDD22-091
|
266.8
|
272.7
|
5.9
|
1.3
|
5.90m @ 1.3
g/t
|
NKDD22-091
|
278.7
|
336.4
|
57.7
|
3.4
|
57.70m @ 3.4
g/t
|
NKDD22-091
|
432
|
435.3
|
3.3
|
0.7
|
3.30m @ 0.7
g/t
|
NKDD22-092
|
63
|
66
|
3
|
1
|
3.00m @ 1.0
g/t
|
NKDD22-092
|
89.5
|
94
|
4.5
|
1.9
|
4.50m @ 1.9
g/t
|
NKDD22-092
|
140
|
142
|
2
|
0.9
|
2.00m @ 0.9
g/t
|
NKDD22-092
|
154
|
166
|
12
|
0.9
|
12.00m @ 0.9
g/t
|
NKDD22-092
|
172
|
176.9
|
4.9
|
1
|
4.90m @ 1.0
g/t
|
NKDD22-092
|
189.84
|
211.65
|
21.81
|
5
|
21.81m @ 5.0
g/t
|
NKDD22-092
|
215.4
|
234
|
18.6
|
1
|
18.60m @ 1.0
g/t
|
NKDD22-092
|
240
|
242
|
2
|
2.9
|
2.00m @ 2.9
g/t
|
NKDD22-092
|
249
|
252
|
3
|
1.7
|
3.00m @ 1.7
g/t
|
NKDD22-092
|
282
|
284.2
|
2.2
|
1.7
|
2.20m @ 1.7
g/t
|
NKDD22-092
|
318.6
|
324.2
|
5.6
|
1.2
|
5.60m @ 1.2
g/t
|
NKDD22-093
|
108.6
|
114
|
5.4
|
0.6
|
5.40m @ 0.6
g/t
|
NKDD22-094
|
149.2
|
157
|
7.8
|
15.9
|
7.80m @ 15.9
g/t
|
NKDD22-094
|
198
|
200.7
|
2.7
|
2.8
|
2.70m @ 2.8
g/t
|
NKDD22-097
|
1.2
|
5
|
3.8
|
4.7
|
3.80m @ 4.7
g/t
|
NKDD22-097
|
47.5
|
54.3
|
6.8
|
3
|
6.80m @ 3.0
g/t
|
NKDD22-097
|
66.3
|
69.5
|
3.2
|
0.6
|
3.20m @ 0.6
g/t
|
NKDD22-097
|
79.7
|
81.8
|
2.1
|
8.5
|
2.10m @ 8.5
g/t
|
NKDD22-097
|
92.8
|
123
|
30.2
|
1.8
|
30.20m @ 1.8
g/t
|
NKDD22-097
|
134.1
|
136.4
|
2.3
|
1
|
2.30m @ 1.0
g/t
|
NKDD22-097
|
152.2
|
155
|
2.8
|
0.9
|
2.80m @ 0.9
g/t
|
NKDD22-097
|
172.3
|
199.3
|
27
|
1.1
|
27.00m @ 1.1
g/t
|
NKDD22-097
|
205.7
|
208
|
2.3
|
2.8
|
2.30m @ 2.8
g/t
|
NKDD22-097
|
231
|
256.2
|
25.2
|
1.4
|
25.20m @ 1.4
g/t
|
NKDD22-098
|
212
|
214
|
2
|
0.8
|
2.00m @ 0.8
g/t
|
NKDD22-098
|
248.5
|
250.5
|
2
|
1
|
2.00m @ 1.0
g/t
|
NKDD22-098
|
270
|
278
|
8
|
4.6
|
8.00m @ 4.6
g/t
|
NKDD22-098
|
284
|
297
|
13
|
1.3
|
13.00m @ 1.3
g/t
|
NKDD22-099
|
66
|
69
|
3
|
3.9
|
3.00m @ 3.9
g/t
|
NKDD22-099
|
259
|
270.3
|
11.3
|
27.6
|
11.30m @ 27.6
g/t
|
NKDD22-099
|
284.4
|
343.2
|
58.8
|
2.4
|
58.80m @ 2.4
g/t
|
NKDD22-100
|
4
|
8.4
|
4.4
|
2
|
4.40m @ 2.0
g/t
|
NKDD22-100
|
13.6
|
30
|
16.4
|
47.3
|
16.40m @ 47.3
g/t
|
NKDD22-100
|
33.2
|
44.3
|
11.1
|
5.2
|
11.10m @ 5.2
g/t
|
NKDD22-100
|
47.9
|
52.9
|
5
|
2.6
|
5.00m @ 2.6
g/t
|
NKDD22-100
|
58.5
|
60.9
|
2.4
|
1.1
|
2.40m @ 1.1
g/t
|
NKDD22-100
|
67.5
|
104
|
36.5
|
2.1
|
36.50m @ 2.1
g/t
|
NKDD22-100
|
107.5
|
131
|
23.5
|
2.8
|
23.50m @ 2.8
g/t
|
NKDD22-100
|
135.4
|
176.2
|
40.8
|
3
|
40.80m @ 3.0
g/t
|
NKDD22-100
|
210.6
|
217.1
|
6.5
|
2.1
|
6.50m @ 2.1
g/t
|
NKDD22-100
|
227.6
|
232
|
4.4
|
1.4
|
4.40m @ 1.4
g/t
|
NKDD22-100
|
236
|
244
|
8
|
1.8
|
8.00m @ 1.8
g/t
|
NKDD22-101
|
133
|
143
|
10
|
1.4
|
10.00m @ 1.4
g/t
|
NKDD22-101
|
164
|
168
|
4
|
2.4
|
4.00m @ 2.4
g/t
|
NKDD22-101
|
176
|
183
|
7
|
1
|
7.00m @ 1.0
g/t
|
NKDD22-101
|
215
|
219.6
|
4.6
|
2.2
|
4.60m @ 2.2
g/t
|
NKDD22-101
|
247.7
|
269
|
21.3
|
2.7
|
21.30m @ 2.7
g/t
|
NKDD22-101
|
300
|
305
|
5
|
1.1
|
5.00m @ 1.1
g/t
|
NKDD22-101
|
319.32
|
343
|
23.68
|
2.8
|
23.68m @ 2.8
g/t
|
NKDD22-101
|
416.8
|
426
|
9.2
|
0.7
|
9.20m @ 0.7
g/t
|
NKDD22-101
|
432
|
436
|
4
|
1.7
|
4.00m @ 1.7
g/t
|
NKDD22-101
|
442
|
447
|
5
|
1.9
|
5.00m @ 1.9
g/t
|
NKDD22-101
|
457
|
461
|
4
|
0.3
|
4.00m @ 0.3
g/t
|
NKDD22-101
|
498
|
503
|
5
|
1.1
|
5.00m @ 1.1
g/t
|
NKDD22-102
|
55
|
59
|
4
|
2
|
4.00m @ 2.0
g/t
|
NKDD22-102
|
259
|
264.4
|
5.4
|
1
|
5.40m @ 1.0
g/t
|
NKDD22-102
|
280.9
|
287
|
6.1
|
8.7
|
6.10m @ 8.7
g/t
|
NKDD22-102
|
292
|
299.3
|
7.3
|
0.4
|
7.30m @ 0.4
g/t
|
NKDD22-102
|
302.35
|
335
|
32.65
|
2.3
|
32.65m @ 2.3
g/t
|
NKDD22-102
|
339.4
|
346.4
|
7
|
1.5
|
7.00m @ 1.5
g/t
|
NKDD22-102
|
352.5
|
355.5
|
3
|
1
|
3.00m @ 1.0
g/t
|
NKDD22-102
|
362
|
365
|
3
|
1
|
3.00m @ 1.0
g/t
|
NKDD22-103
|
112
|
114
|
2
|
3
|
2.00m @ 3.0
g/t
|
NKDD22-103
|
119.7
|
134
|
14.3
|
2.8
|
14.30m @ 2.8
g/t
|
NKDD22-103
|
237
|
240
|
3
|
1
|
3.00m @ 1.0
g/t
|
NKDD22-103
|
375
|
378
|
3
|
7.8
|
3.00m @ 7.8
g/t
|
NKDD22-103
|
383
|
405
|
22
|
2.8
|
22.00m @ 2.8
g/t
|
NKDD22-103
|
409
|
418.4
|
9.4
|
2.7
|
9.40m @ 2.7
g/t
|
NKDD22-103
|
421.7
|
428
|
6.3
|
2.5
|
6.30m @ 2.5
g/t
|
NKDD22-103
|
476.6
|
483.7
|
7.1
|
0.8
|
7.10m @ 0.8
g/t
|
NKDD22-104
|
72
|
75.12
|
3.12
|
3.5
|
3.12m @ 3.5
g/t
|
NKDD22-104
|
327.6
|
343.6
|
16
|
9.5
|
16.00m @ 9.5
g/t
|
NKDD22-104
|
364
|
366.5
|
2.5
|
1.1
|
2.50m @ 1.1
g/t
|
NKDD22-104
|
383
|
386
|
3
|
2.8
|
3.00m @ 2.8
g/t
|
NKDD22-105
|
109
|
117
|
8
|
10.4
|
8.00m @ 10.4
g/t
|
NKDD22-105
|
322
|
348
|
26
|
1.7
|
26.00m @ 1.7
g/t
|
NKDD22-105
|
354
|
370
|
16
|
1.5
|
16.00m @ 1.5
g/t
|
NKDD22-105
|
380.6
|
387
|
6.4
|
1
|
6.40m @ 1.0
g/t
|
NKDD22-106
|
319
|
323.8
|
4.8
|
3.8
|
4.80m @ 3.8
g/t
|
NKDD22-106
|
330
|
389
|
59
|
2.7
|
59.00m @ 2.7
g/t
|
NKDD22-107
|
198
|
203.8
|
5.8
|
2.4
|
5.80m @ 2.4
g/t
|
Notes:
|
1.
|
Refer to Section 14.3.7
of the AGM's NI 43-101 Technical Report, effective date February
28, 2022.
|
2.
|
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.
|
3.
|
Intervals are
calculated with the assumptions of > 0.5 g/t and < 3m of
internal waste and displayed as weighted averages.
|
4.
|
Includes results from
Diamond and RC drilling.
|
Qualified Person and QA/QC
Chris Pettman P.Geo, Vice
President Exploration of Galiano, 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. Pettman is responsible for all aspects of the
work including the Data Verification and Quality Control/Quality
Assurance programs and has verified the data disclosed by reviewing
all data and supervising its compilation. There are no known
factors that could materially affect the reliability of data
collected and verified under his supervision No quality
assurance/quality control issues have been identified to date. Mr.
Pettman is not independent of Galiano.
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.
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. 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
Nkran including with respect to the nature and extent of possible
pit designs and the commencement of mining or further mining; the
declaration of an updated Mineral Resource estimate and the timing
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; the ability of future
exploration programs to provide the basis for future mineral
resources, including the timing for the declaration of such mineral
resources; 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; the Company's updated mineral
resource estimate and life of mine plan proceeding as currently
anticipated; mining proceeding as currently anticipated; the
Company proceeding with further exploration programs as currently
anticipated; that future exploration programs will provide the
basis for future mineral resources; that the Joint Venture approves
the Company's 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 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; 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; title to mineral properties; costs;
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: that the results of the Company's
exploration programs will not conform with the Company's
expectations, and will not be sufficient to support mineral
resources or mineral reserves at the AGM or be sufficient to
include in the Company's updated life of mine plan; the
Company's expectations; that the Company may not
undertake planned future mining or exploration, or that such future
mining or exploration will not be sufficient to support mineral
resources or mineral reserves at the AGM; that the JV will approve
the Company's proposed exploration and mining programs;
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; 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 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; and 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.
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.