Galiano Gold Announces Positive Deep Drilling Results at Abore Deposit with 36m at 2.5 g/t Au

Galiano Gold reported successful deep drilling results at the Abore deposit in Ghana, with all four drill holes intercepting mineralization. A notable intercept was 36 meters at 2.5 g/t gold, extending mineralization 200 meters below the current pit shell and remaining open in all directions. The deposit holds Measured and Indicated Mineral Resources of 638,000 ounces at 1.24 g/t gold. A Phase 2 infill drilling program has been initiated to explore further extensions of mineralization.

VANCOUVER - Galiano Gold Inc. (TSX:GAU) (NYSE American:GAU) has announced positive results from its deep step-out drilling program at the Abore deposit in Ghana. The drilling campaign, consisting of four holes totaling 1,907 meters, intercepted mineralization in all four holes across a 1,200-meter strike length. This discovery extends mineralization 200 meters below the current Mineral Reserve pit shell and remains open in all directions, according to the company's press release [1].

Notable intercepts from the program include 36 meters at 2.5 grams per tonne (g/t) gold from 370 meters depth in one hole. The drilling confirmed that the Abore granite and mineralizing system continues 200 meters below the current Mineral Reserve pit shell. "Intersecting mineralized granite in all four deep holes of this program is an important step in advancing our understanding of the blue-sky underground expansion potential at Abore," said Matt Badylak, Galiano’s President and CEO [1].

The Abore deposit, located approximately 13 kilometers north of the processing plant, currently has Measured and Indicated Mineral Resources of 638,000 ounces at 1.24 g/t gold and Inferred Mineral Resources of 78,000 ounces at 1.17 g/t gold, based on estimates effective December 31, 2024 [1].

Following the positive results, Galiano has commenced a Phase 2 infill drilling program at Abore to test for further extensions of mineralization immediately below the existing resource boundaries. This program will continue to explore the deposit's potential for underground mining [1].

Galiano Gold maintains a robust gross profit margin of 44% and a strong cash position with $106 million, positioning it well to advance its exploration initiatives [1]. The company is projecting a 75% increase in gold production by 2026 and is on track with its 2025 production guidance of 280,000 ounces of gold [1].

References:
[1] https://www.investing.com/news/company-news/galiano-gold-reports-positive-deep-drilling-results-at-abore-deposit-93CH-4133692
[2] https://www.prnewswire.com/news-releases/galiano-gold-announces-positive-initial-deep-drilling-results-at-abore-including-36m--2-5-gt-au-302504248.html
[3] https://finance.yahoo.com/news/galiano-gold-announces-positive-initial-115600203.html