Phase 3 Drilling Adding To Maiden MRE
Galiano Gold Inc. (TSX: GAU) has announced a further update from the exploration programme 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 with the JV managed and operated by Galiano.
The Miradani North target is located on the Datano Mining Lease, approximately 10 km 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.
Latest highlights include: 40m @ 2.8 g/t Au; 20.1m @4.8 g/t Au; 54m @ 1.7 g/t Au; 22.4m @ 3.4g/t Au; 36m @ 1.6 g/t Au; 14m @4.1 g/t Au; and 33.9m @ 1.6 g/t Au.
“The latest set of results from Miradani North continue to indicate that a mineralised system is present at depth,” said CEO, Greg McCunn.
“Our drilling results indicate that mineralisation extends to 300m vertical depth and beyond, with a +100 gram-metre shoot plunging steeply to the northeast, remaining open at depth.
“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 programme.”The Miradani North target is situated along the Fromenda shear zone, a laterally extensive structure recognised 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.
Mineralisation 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 mineralisation at Miradani North occurs in quartz veins and in association with silica flooding, pyrite, arsenopyrite, and traces of base metal sulphides, within a broader envelope of quartz-sericite-pyrite and carbonate alteration.
