GALIANO GOLD ANNOUNCES SIGNIFICANT DRILL RESULTS FROM ABORE, INCLUDING 45m @ 12.4 g/t Au & 37m @ 10.6 g/t Au

GALIANO GOLD ANNOUNCES SIGNIFICANT DRILL RESULTS FROM ABORE, INCLUDING 45m @ 12.4 g/t Au & 37m @ 10.6 g/t Au

VANCOUVER, BC, March 11, 2024 /PRNewswire/ – Galiano Gold Inc. (“Galiano” or the “Company”) (TSX: GAU) (NYSE American: GAU) is pleased to provide an update on the 2023 drilling results at Abore following completion of an infill program at the Asanko Gold Mine (“AGM”), located in Ghana, West Africa. This drill program is highlighted by the discovery of a new high grade zone in the southern portion of the deposit and better than expected results spanning the entire 1,600 metre strike length of Abore.

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Figure 6: Cross section 5 through southern portion of Abore main pit demonstrating significant minerlization intercepted within and immediately below the $1,800MII shell in holes ABPC23-214 and ABPC23-223 (CNW Group/Galiano Gold Inc.)


Figure 7: Cross section through Abore main pit demonstrating significant minerlization intercepted within and below the $1,800MII shell in holes ABPC23-193, ABPC23-206 and ABPC23-259. (CNW Group/Galiano Gold Inc.)


Figure 8: Cross section 7 through northern Abore pit showing mineralized intervals below the current Reserve pit and within the $1,800MII shell in holes ABPC23-203 and ABPC23-246, demonstrating high grade minerlization is present at depth along the entire length of the Abore deposit. (CNW Group/Galiano Gold Inc.)

The Abore infill drilling programme consisted of 84 holes totalling 22,470 metres. It was designed to convert Inferred Mineral Resources below the current Mineral Reserve pit shell1 to the Indicated Mineral Resource category and evaluate the potential to optimize and/or expand the pit. Earlier positive results from this campaign were highlighted in a news release “Galiano Gold Provides Asanko Gold Mine 2023 Exploration Program Update” (see press release dated October 25, 2023).

This program resulted in the discovery of a new high grade zone within the southern portion of Abore which was intersected in four drill holes over approximately 120 metres of strike length as shown in a series of cross sections in Figures 2 to 5 below. Intercepts in this zone are amongst the best ever intercepted at the AGM and include:

Hole ABPC23-224: 45 metres @ 12.4 g/t gold from 191m
Hole ABPC23-226: 37 metres @ 10.6 g/t gold from 199m
Hole ABPC23-239: 54 metres @ 3.3 g/t gold from 207m 
Hole ABPC23-228: 41 metres @ 3.3 g/t gold from 191m

This new zone of mineralization is hosted primarily within the Abore granite and is characterized by significant hydrothermal alteration along with high density quartz veining, intense localized brecciation, disseminated arsenopyrite and visible gold. It remains open along strike in both directions and is untested at depth. A follow-up drill program is currently underway to test the extent of this zone.

Robust mineralization was also intersected across the deposit as demonstrated by the following highlighted intercepts:

Hole ABPC23-246: 18 meters @ 8.2 g/t gold from 172m 
Hole ABPC23-259: 24 meters @ 5.4 g/t gold from 263m 
Hole ABPC23-223: 27 meters @ 4.2g/t gold from 246m
Hole ABPC23-228: 41 metres @ 3.3 g/t gold from 191m
Hole ABPC23-213: 20 meters @ 4.5 g/t gold from 166m
Hole ABPC23-241: 23 meters @ 3.8 g/t gold from 156m 
Hole ABPC23-249: 19 meters @ 4.0 g/t gold from 273m 

“These excellent results demonstrate that Abore has significant upside potential beyond the current Reserves,” stated Chris Pettman, Galiano’s Vice President of Exploration. “Seeing significant intervals of high grade gold along the entire 1,600 metre strike length of the deposit, and the discovery of the new high grade south zone, gives us confidence that Abore will continue to grow and add considerable value to the AGM life of mine.”

Matt Badylak, Galiano’s President and Chief Executive Officer added, “The results of this program are expected to affect the size and geometry of the Abore Reserve pit. The impact this will have on Mineral Reserves and ore delivery in 2024 is currently being evaluated through pit optimization and redesign. The Company plans to update Abore Mineral Resources and Mineral Reserves and provide 2024 production and cost guidance following the completion of this work in April.”

Abore is located directly on the haul road approximately 13 kilometres north of the AGM’s processing plant and has current Measured and Indicated Resources of 477,000 ounces @1.16 g/t gold and Inferred Resources of 131,000 ounces @1.14 g/t gold, as described in the Technical Report entitled “NI 43-101 Technical Report and Feasibility Study for Asanko Gold Mine, Ghana” with an effective date of December 31, 2022, and is available on SEDAR+1.

The deposit sits along the Esaase shear corridor, which also hosts the Esaase deposit, and forms part of the northeast striking Asankrangwa gold belt. The geology of the deposit is characterized by a sedimentary sequence composed primarily of siltstones, shales and thickly bedded sandstones that has been intruded by a granite which lies parallel to the shear and dipping steeply to the northwest. The majority of mineralization is constrained to the granite, hosted in west dipping quartz vein areas developed primarily along the eastern margin of the granite/sediment contact.

Table 1: 2023 Abore drilling intercepts table2,3

Hole ID

From (m)

To (m)

Width (m)

Grade (g Au/t)

Intercept Description

ABPC23-224

191.0

236.0

45.0

12.44

45.0m @ 12.44

ABPC23-226

199.0

236.0

37.0

10.58

37.0m @ 10.58

ABPC23-239

207.0

261.0

54.0

3.29

54.0m @ 3.29

ABPC23-246

172.0

190.0

18.0

8.21

18.0m @ 8.21

ABPC23-228

191.0

232.0

41.0

3.28

41.0m @ 3.28

ABPC23-259

263.0

287.0

24.0

5.35

24.0m @ 5.35

ABPC23-223

245.9

273.3

27.4

4.2

27.4m @ 4.2

ABPC23-213

165.7

185.4

19.7

4.53

19.7m @ 4.53

ABPC23-241

156.0

179.0

23.0

3.76

23.0m @ 3.76

ABPC23-249

273.0

292.4

19.4

4.04

19.4m @ 4.04

ABPC23-190

278.0

314.0

36.0

2.12

36.0m @ 2.12

ABPC23-252

281.7

319.7

38.0

1.8

38.0m @ 1.8

ABPC23-211

223.0

263.8

40.8

1.63

40.8m @ 1.63

ABPC23-266

217.0

246.5

29.5

1.95

29.5m @ 1.95

ABPC23-229

269.5

291.0

21.5

2.64

21.5m @ 2.64

ABPC23-264

96.1

102.1

6.0

9.32

6.0m @ 9.32

ABPC23-254

209.0

223.2

14.2

3.93

14.2m @ 3.93

ABPC23-256

197.0

226.0

29.0

1.88

29.0m @ 1.88

ABPC23-189

225.9

247.0

21.1

2.56

21.1m @ 2.56

ABPC23-193

279.5

297.8

18.3

2.92

18.3m @ 2.92

ABPC23-243

174.7

184.7

10.0

5.26

10.0m @ 5.26

ABPC23-198

300.9

304.0

3.1

16.88

3.1m @ 16.88

ABPC23-215

213.0

240.2

27.2

1.92

27.2m @ 1.92

ABPC23-208

199.0

206.0

7.0

7.24

7.0m @ 7.24

ABPC23-237

151.0

163.0

12.0

4.19

12.0m @ 4.19

ABPC23-197

310.0

321.9

11.9

4.23

11.9m @ 4.23

ABPC23-214

204.0

217.0

13.0

3.62

13.0m @ 3.62

ABPC23-198

246.6

253.8

7.3

6.33

7.3m @ 6.33

ABPC23-257

197.0

229.0

32.0

1.42

32.0m @ 1.42

ABPC23-194

247.4

265.4

18.1

2.5

18.1m @ 2.5

ABPC23-186

194.0

208.5

14.5

2.78

14.5m @ 2.78

ABPC23-212

243.0

257.0

14.0

2.85

14.0m @ 2.85

ABPC23-256

181.2

190.0

8.8

4.45

8.8m @ 4.45

ABPC23-210

158.0

183.0

25.0

1.55

25.0m @ 1.55

ABPC23-248

234.0

260.0

26.0

1.48

26.0m @ 1.48

ABPC23-194

287.0

314.0

27.0

1.4

27.0m @ 1.4

ABPC23-219

190.0

209.0

19.0

1.72

19.0m @ 1.72

ABPC23-222

314.6

319.7

5.1

6.27

5.1m @ 6.27

ABPC23-190

350.0

356.4

6.4

4.73

6.4m @ 4.73

ABPC23-278

196.3

229.0

32.7

0.91

32.7m @ 0.91

ABPC23-225

293.7

306.5

12.9

2.27

12.9m @ 2.27

ABPC23-221

185.0

215.0

30.0

0.95

30.0m @ 0.95

ABPC23-253

226.0

244.6

18.6

1.42

18.6m @ 1.42

ABPC23-222

280.5

299.8

19.2

1.37

19.2m @ 1.37

ABPC23-242

188.2

203.0

14.8

1.65

14.8m @ 1.65

ABPC23-235

225.0

244.0

19.0

1.25

19.0m @ 1.25

ABPC23-202

192.0

208.0

16.0

1.46

16.0m @ 1.46

ABPC23-203

79.0

101.0

22.0

1.01

22.0m @ 1.01

ABPC23-226

240.0

245.0

5.0

4.34

5.0m @ 4.34

ABPC23-231

300.5

315.1

14.5

1.47

14.5m @ 1.47

ABPC23-191

306.0

326.0

20.0

1.05

20.0m @ 1.05

ABPC23-192

201.7

216.7

15.0

1.38

15.0m @ 1.38

ABPC23-254

192.7

198.0

5.3

3.81

5.3m @ 3.81

ABPC23-265

186.2

201.6

15.4

1.3

15.4m @ 1.3

ABPC23-203

147.0

177.0

30.0

0.64

30.0m @ 0.64

ABPC23-234

214.5

226.9

12.4

1.53

12.4m @ 1.53

ABPC23-206

306.0

318.0

12.0

1.58

12.0m @ 1.58

ABPC23-209

290.0

309.0

19.0

0.99

19.0m @ 0.99

ABPC23-276

191.0

202.1

11.1

1.67

11.1m @ 1.67

ABPC23-186

79.1

87.0

8.0

2.33

8.0m @ 2.33

ABPC23-218

191.0

206.0

15.0

1.22

15.0m @ 1.22

ABPC23-191

344.0

351.0

7.0

2.6

7.0m @ 2.6

ABPC23-251

135.0

150.0

15.0

1.21

15.0m @ 1.21

ABPC23-184

157.0

174.0

17.0

1.04

17.0m @ 1.04

ABPC23-243

191.8

197.2

5.4

3.27

5.4m @ 3.27

ABPC23-200

259.9

268.3

8.4

2.03

8.4m @ 2.03

ABPC23-232

300.0

310.0

10.0

1.69

10.0m @ 1.69

ABPC23-206

261.7

269.0

7.3

2.25

7.3m @ 2.25

ABPC23-240

216.7

224.4

7.7

2.11

7.7m @ 2.11

ABPC23-237

174.0

189.0

15.0

1.05

15.0m @ 1.05

ABPC23-184

99.0

110.0

11.0

1.39

11.0m @ 1.39

ABPC23-279

225.0

244.3

19.3

0.79

19.3m @ 0.79

ABPC23-260

213.0

227.1

14.1

1.07

14.1m @ 1.07

ABPC23-240

203.7

211.7

8.0

1.86

8.0m @ 1.86

ABPC23-189

270.0

279.0

9.0

1.65

9.0m @ 1.65

ABPC23-221

220.0

226.0

6.0

2.44

6.0m @ 2.44

ABPC23-262

227.0

246.3

19.3

0.75

19.3m @ 0.75

ABPC23-190

330.0

346.0

16.0

0.84

16.0m @ 0.84

ABPC23-248

215.6

229.6

14.0

0.95

14.0m @ 0.95

ABPC23-231

323.3

334.0

10.7

1.24

10.7m @ 1.24

ABPC23-260

201.9

207.9

6.1

2.1

6.1m @ 2.1

ABPC23-263

114.9

121.7

6.8

1.86

6.8m @ 1.86

ABPC23-244

202.4

222.0

19.6

0.59

19.6m @ 0.59

ABPC23-223

229.3

234.0

4.7

2.38

4.7m @ 2.38

ABPC23-234

186.0

194.0

8.0

1.36

8.0m @ 1.36

ABPC23-240

191.5

199.5

8.1

1.34

8.1m @ 1.34

ABPC23-279

203.9

221.0

17.1

0.63

17.1m @ 0.63

ABPC23-244

228.0

238.0

10.0

1.06

10.0m @ 1.06

ABPC23-183

191.0

205.0

14.0

0.75

14.0m @ 0.75

ABPC23-220

234.7

243.5

8.9

1.18

8.9m @ 1.18

ABPC23-259

251.0

256.0

5.0

2.08

5.0m @ 2.08

ABPC23-228

252.0

258.7

6.7

1.47

6.7m @ 1.47

ABPC23-270

143.0

153.0

10.0

0.94

10.0m @ 0.94

ABPC23-225

331.1

335.2

4.1

2.27

4.1m @ 2.27

ABPC23-254

226.5

234.0

7.5

1.18

7.5m @ 1.18

ABPC23-266

178.0

189.6

11.6

0.76

11.6m @ 0.76

ABPC23-212

229.0

239.0

10.0

0.88

10.0m @ 0.88

ABPC23-218

234.0

238.0

4.0

2.2

4.0m @ 2.2

ABPC23-258

267.0

282.0

15.0

0.56

15.0m @ 0.56

ABPC23-238

240.0

247.0

7.0

1.19

7.0m @ 1.19

ABPC23-196

219.0

230.0

11.0

0.75

11.0m @ 0.75

ABPC23-204

114.0

120.1

6.1

1.35

6.1m @ 1.35

ABPC23-206

326.0

331.0

5.0

1.61

5.0m @ 1.61

ABPC23-191

249.0

256.7

7.7

1.03

7.7m @ 1.03

ABPC23-229

295.0

301.0

6.0

1.32

6.0m @ 1.32

ABPC23-262

260.0

271.0

11.0

0.71

11.0m @ 0.71

ABPC23-184

118.0

131.0

13.0

0.6

13.0m @ 0.6

ABPC23-242

207.0

211.0

4.0

1.93

4.0m @ 1.93

ABPC23-232

314.0

324.0

10.0

0.77

10.0m @ 0.77

ABPC23-238

202.0

215.0

13.0

0.58

13.0m @ 0.58

ABPC23-209

343.0

348.0

5.0

1.46

5.0m @ 1.46

ABPC23-208

188.8

193.0

4.2

1.71

4.2m @ 1.71

ABPC23-213

119.7

122.7

3.0

2.26

3.0m @ 2.26

ABPC23-246

159.0

167.0

8.0

0.81

8.0m @ 0.81

ABPC23-201

255.0

260.2

5.2

1.24

5.2m @ 1.24

ABPC23-266

206.9

213.0

6.1

1.04

6.1m @ 1.04

ABPC23-253

210.0

218.9

8.9

0.7

8.9m @ 0.7

ABPC23-196

239.0

245.0

6.0

1.03

6.0m @ 1.03

ABPC23-208

140.0

146.0

6.0

0.97

6.0m @ 0.97

ABPC23-205

289.8

297.4

7.6

0.72

7.6m @ 0.72

ABPC23-220

258.3

263.0

4.7

1.14

4.7m @ 1.14

ABPC23-199

89.0

93.7

4.7

1.11

4.7m @ 1.11

ABPC23-183

145.0

151.0

6.0

0.85

6.0m @ 0.85

ABPC23-202

262.0

265.0

3.0

1.68

3.0m @ 1.68

ABPC23-204

83.0

88.0

5.0

0.92

5.0m @ 0.92

ABPC23-275

133.3

138.4

5.1

0.9

5.1m @ 0.9

ABPC23-232

283.0

288.2

5.2

0.88

5.2m @ 0.88

ABPC23-238

220.5

226.0

5.5

0.83

5.5m @ 0.83

ABPC23-264

118.3

127.0

8.7

0.51

8.7m @ 0.51

ABPC23-186

149.0

158.0

9.0

0.49

9.0m @ 0.49

ABPC23-219

226.0

229.0

3.0

1.47

3.0m @ 1.47

ABPC23-199

285.0

293.0

8.0

0.53

8.0m @ 0.53

ABPC23-265

211.6

215.2

3.6

1.1

3.6m @ 1.1

ABPC23-193

346.0

352.7

6.7

0.59

6.7m @ 0.59

ABPC23-186

92.0

97.0

5.0

0.78

5.0m @ 0.78

ABPC23-214

169.0

174.0

5.0

0.78

5.0m @ 0.78

ABPC23-190

267.0

272.9

5.9

0.6

5.9m @ 0.6

ABPC23-276

210.0

214.0

4.0

0.87

4.0m @ 0.87

ABPC23-184

137.0

140.0

3.0

1.07

3.0m @ 1.07

ABPC23-235

259.0

264.0

5.0

0.63

5.0m @ 0.63

ABPC23-235

268.0

273.0

5.0

0.62

5.0m @ 0.62

ABPC23-258

258.7

262.5

3.8

0.75

3.8m @ 0.75

ABPC23-191

330.0

335.0

5.0

0.57

5.0m @ 0.57

ABPC23-242

229.0

234.0

5.0

0.55

5.0m @ 0.55

ABPC23-199

334.0

339.0

5.0

0.54

5.0m @ 0.54

ABPC23-201

287.0

291.2

4.2

0.64

4.2m @ 0.64

ABPC23-203

109.0

113.0

4.0

0.66

4.0m @ 0.66

ABPC23-251

126.4

131.0

4.6

0.57

4.6m @ 0.57

ABPC23-210

147.0

154.0

7.0

0.36

7.0m @ 0.36

ABPC23-192

246.0

251.0

5.0

0.48

5.0m @ 0.48

ABPC23-194

274.0

277.0

3.0

0.79

3.0m @ 0.79

ABPC23-208

212.0

215.0

3.0

0.77

3.0m @ 0.77

ABPC23-237

7.0

10.0

3.0

0.77

3.0m @ 0.77

ABPC23-264

110.9

113.9

3.0

0.74

3.0m @ 0.74

ABPC23-181

143.0

146.0

3.0

0.72

3.0m @ 0.72

ABPC23-196

259.0

262.0

3.0

0.72

3.0m @ 0.72

ABPC23-193

316.0

321.0

5.0

0.42

5.0m @ 0.42

ABPC23-253

253.0

258.0

5.0

0.42

5.0m @ 0.42

ABPC23-242

221.0

225.0

4.0

0.51

4.0m @ 0.51

ABPC23-192

263.0

270.0

7.0

0.29

7.0m @ 0.29

ABPC23-259

236.0

239.0

3.0

0.66

3.0m @ 0.66

ABPC23-237

97.0

101.0

4.0

0.49

4.0m @ 0.49

ABPC23-243

147.8

151.6

3.8

0.5

3.8m @ 0.5

ABPC23-270

169.4

172.4

3.0

0.62

3.0m @ 0.62

ABPC23-231

9.0

14.0

5.0

0.37

5.0m @ 0.37

ABPC23-201

274.0

278.0

4.0

0.45

4.0m @ 0.45

Notes:   

See Sections 14.2 and 15.3 of “NI 43-101 Technical Report and Feasibility Study for the Asanko Gold Mine, Ashanti Region, Ghana” with an effective date of December 31, 2022, which is available on the Company’s website and filed on SEDAR, for description of Abore Mineral Resource estimate and assumptions used in preparing the Abore Reserve and$1800 resource shells.
Intervals reported are hole lengths with true width estimated to be 80%-95%
Intervals are not top cut and are calculated with the assumptions of >0.5 g/t and