Galiano Gold Inc.has announced an update from its 2020 exploration program underway at the Asanko Gold Mine (“AGM”), located in Ghana. The AGM is a 50:50 joint venture with Gold Fields Limited but the project is being managed and operated by Galiano.
The latest drilling results have the joint venture partners exited enough to issue an upbeat press release as the latest exploration results suggest that significant increase in production throughput at the Asanki Gold Mine is on the cards.
Following on from the successful exploration drilling programs at Abore, Akwasiso and Nkran earlier in 2020 the focus of exploration drilling shifted in October to the Miradani trend, located approximately 10km south of the AGM processing plant.
A preliminary drilling campaign was conducted in April 2019 at the northern tip of the Miradani trend following on which the Company has now completed a 12 hole, Phase 2 drilling program and commenced a 50 hole Phase 3 drill program at Miradani North (formerly known as “Tontokrom”). This program has been designed to confirm and expand knowledge of intercepts identified in the 2019 drill program. Phase 3 drilling is underway with 3 drill rigs and is designed to provide sufficient information and confidence for undertaking a resource estimate anticipated to be completed in the first quarter of 2021.
“Miradani is our top priority for exploration for the balance of 2020,” enthuses Greg McCunn, Chief Executive Officer. “Current drilling has expanded earlier positive drill results and Phase 3 drilling is expected to provide us with sufficient data to carry out engineering studies and to
fully evaluate Miradani North for development. In early 2021, we plan to start a campaign of step-out drilling to expand our knowledge of the 5km long trend that makes up the complete Miradani target.”
About Miradani North
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. Drilling at this site in 2019 revealed drill intercepts of interest. Phase 2 drilling was designed to test mineralization at nominal 80m intervals and is now completed. A Phase 3 drilling program has commenced to infill drill the Miradani North target at 40m intervals which management expects will provide sufficient data and confidence for a Resource Estimation. Miradani North is situated approximately 10 km south of the Asanko Gold Mine’s 5.4 million tonne per annum processing plant and is part of the Miradani Mining Lease.
Gold mineralization at Miradani North occurs in quartz veins and in association with silica flooding, arsenopyrite, and broader quartz-sericite-pyrite alteration. Spatially, mineralization is within and adjacent to granitic intrusions, with two apparently different types of intrusive bodies present. Mineralization appears to be a northwest dipping, subvertical mass. Completion of the Phase 3 program is designed to further clarify the extent and shape of mineralization.
Importantly, since there is already a processing plant in the vicinity of the Miradani North exploration area, it would not be necessary to build a new one from scratch and this makes for strong project viability. All that would be required would be a major expansion of te existing plant and an expansion of the trucking fleet and staff complement.
Instructively, Asanko Gold Ghana won the “Best Company in Exploration” award from the Ghana Chamber of Mines at the latest edition of the annual Ghana Mining Industry Awards Ceremony. “With a continued focus on exploration we are pleased to have won this award,” said Greg McCunn, CEO. “Our reinvigorated exploration program commenced earlier this year and we have seen positive results to date which resulted in a significant increase to our budget midway through the program. We believe that as we continue drilling, we will be able to unlock meaningful value on this underexplored land package.”