Galiano Gold Inc (TSX:GAU)Mining
Galiano Gold Inc is a precious metals exploration and development domiciled in Vancouver, Canada. It operates through regional offices in Johannesburg, South Africa, and Accra, Ghana.
The mining company’s flagship asset is the Asanko Gold Mine in Ghana, West Africa. The gold property is jointly held by Galiano and Gold Fields Ltd, with each holding a 45 per cent stake. However, the remaining 10 per cent stake is owned by the Government of Ghana.
Galiano Gold Inc operates and manages the gold property in West Africa.
The Asanko Gold Mine is located in the Asankrangwa Gold Belt in the Kumasi Basin’s central axis. The property consists of multi-deposits structure and several satellite deposits in the trending shear system of the gold belt. In addition, it hosts two principal gold producing deposits, namely Nkran and Esaase.
The Ghana-based project also consists of a carbon-in-leach processing plant with an estimated production capacity of 5 metric tons per annum.
In 2020, the company announced that the Asanko property exceeded the upper-end guidance of 245,000 ounces of gold production and reported a total of 249,904 ounces of gold.
Galiano is emphasizing on developing pipeline projects, upgrading and expanding current resources, testing initial phase targets and developing advance to drill targets. On April 28, 2021, Galiano Gold started exploration operations on its wholly owned Asumura Property located in the Sefwi greenstone belt in Ghana.
The property hosts Asumura, Fosukrom and Pomaakrom concessions with a total area of nearly 247.0 square kilometres.
On May 3, 2021, the mineral exploration company acquired a 100 per cent ownership stake of ABG Mali Exploration SARL from Barrick Gold’s subsidiary. The transaction involves a payment of US$1.5 million. The 167-kilometer property is situated on the Senegal Mali Shear Zone (SMSZ) that hosts four gold deposits:
On May 20, 2021, the company provided an update about the Miradani North Phase Drilling program, which is nearly 10 kilometers away from the Asanko’s processing plant.
Galiano Gold Inc also focuses on sustainable mining business and aims to create long term value for its shareholders by exploration and eco-friendly deployment of its mineral resources.
The company’s stocks are traded on the Toronto Stock Exchange (TSX) and the NYSE American under the ticker ‘GAU’.
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